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| Downturn effect: Small cos can now afford IIM execs |
| Press Trust of India / New Delhi Apr 08, 2009, 14:14 IST |
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Global recession might have brought a number of top level corporates to their knees but it seems to be a "good opportunity" for numerous small and medium companies, which can now afford to hire hot-shot executives from top business schools at much "affordable" prices.
The pass-outs of the country's premier business schools like IIMs can now be hired at much lower packages than they used to get when the world economies were booming.
Analysts say, the placement scene at most of the IIMs this year is not much encouraging as compared to previous years. This year, number of big companies as well as number of international companies coming for campus placements has decreased.
"There is more than 30 per cent dip in the average salary offered to fresh IIM graduates. In IIM-A, this year's average domestic salary offer has come down to Rs 12.17 lakh from previous year's Rs 18.75 lakh," IIM-A Placement Cell Chairman Dr Saral Mukherjee told PTI.
He said the number of offers per students has also gone down as the recruitment process in most of the companies has come to an halt in view of economic slow down.
Similarly, the domestic average salary offered this year at IIM Calcutta has been Rs 12.70 lakhs with the highest offer at Rs 60 lakh per annum. While the average figure for last year was Rs 16.40 lakh.
Sandeep Manudhane, Chairman PT Universe, which runs a national chain of professional coaching institutes said, "We have given entrepreneurial opportunity to number of pass-outs from top B schools including IIMs. We are in process of hiring more people and are visiting many campuses."
Yashish Dahiya, CEO of Policy Bazaar.Com, said, "Usually IIMs charge a recruitment fee, which is quite high for early stage companies. This year that was waived, so it allowed us to participate."
Sapna Gupta, Director AHA Air Hostess Academy, said "The current global economic scenario has given us an opportunity to choose from a pool of brightest talents, unlike past several years when best students went to the high profile preferred sectors.
"Further, in the absence of big companies making hefty offers to IIM graduates, companies like that of us will have to shell out relatively less this year to hire them," she added.
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