Mean salary up by 12% as IIM Kozhikode wraps up placements in 5 days

The number of offers, made by 131 recruiters, too rose by 22.4 per cent over last year, even as IIM Kozhikode placed all 413 students who participated in the process

The mean annual salary offered by companies at the Indian Institute of Management (IIM) Kozhikode rose by 12 per cent to Rs 23.08 lakh from Rs 20.6 lakh last year. The premier B-school concluded its final placements process in five days.

The number of offers, made by 131 recruiters, too increased by 22.4 per cent over last year, even as IIM Kozhikode placed all 413 students who participated in the process. Five students of 418-strong batch -- the largest till date -- opted out of the placement process.

The median salary too rose by 12.4 per cent to Rs 20.8 lakh per annum, from 18.5 lakh last year. Moreover, the top 50 per cent of the batch bagged an average cost-to-company (CTC) of Rs 26.69 lakh a year, up 12.5 per cent over last year.

Led by the likes of Accenture Strategy, Accenture Technology, McKinsey & Co, The Boston Consulting Group (BCG), Bain & Co, Deloitte, EY, Infosys Consulting, PwC and Cognizant Business Consulting, consulting was the largest recruiter sector, making 29 per cent of the offers.

The banking, financial services and insurance (BFSI) cluster, which made 21 per cent of the offers, consisted of marquee recruiters such as Axis Bank, Bank of America, Citi Bank, Deutsche Bank, Goldman Sachs, HSBC, ICICI Bank, IDFC First Bank, JP Morgan Chase & Co, and Yes Bank.

In the sales and marketing domain, which made 18 per cent of the total offers, prominent recruiters included 3M, ABFRL, Asian Paints, Bajaj Auto, Enphase Energy, Evanssion, GE Healthcare, GSK, HCL, HUL, L&T, Lenovo, Maruti, OfBusiness, Payoneer, Pidilite, Samsung, Sony, Tata Sky, Tolaram, and Xiaomi.

Forty-eight Of the 131 recruiters participated in the process at IIM Kozhikode for the first time. These included AB InBev, Blackbuck, Bounce, Cisco, Cloudtail, DE Shaw, GE Healthcare, Google, Gramener, JSW, Myntra, Ninjacart, Uber, Udaan, VMware, Work India, and Xiaomi.

The Information Technology (IT) and Analytics cluster contributed with offers from marquee recruiters like American Express, Citrix, Google, Gramener, IBM, JDA, LatentView Analytics, Mahindra Comviva, Microland, Microsoft, mPhasis, Myntra, PlaySimple Games, Sabre, VMWare and Wipro. On the other hand, AB InBev, Airtel, Amazon, Amplus Solar, BlackBuck, Capgemini, Cloudtail, Flipkart, JSW, Mahindra, Ninjacart, Rebel Foods, Reliance, RPG, TAS, and Uber, among others extended 17 per cent of total offers for general management and operations roles.

IIM Kozhikode also saw a 200 per cent rise in number of offers made by start-ups and 150 per cent by e-commerce recruiters such as Amazon, Cloudtail, Flipkart, Myntra, Udaan with firms like Blackbuck, Bounce, Gramener, Myntra, Ninjacart, Rebel Foods, Udaan, Unacademy, Work India.

According to Debashis Chatterjee, Director, IIM Kozhikode, the premier B-school foresees the edu-tech sector becoming the prime recruiter and a formidable force in attracting talent, given the way technology has been re-shaping education. "The class of talent an Institute like IIMK offers is more enduring than the job profiles. Our students are recognized by our recruiters for their distinctive traits like talent profile, multi-cultural literacy, entrepreneurial mind-set and richer diversity quotient."

Meanwhile, placements chairperson at IIM Kozhikode, Shovan Chowdhury said "IIMK has witnessed another successful completion of final placements for its largest batch despite the negative sentiment of the job market. Green energy, and e-commerce sectors along with emerging stat-ups including education technology start-up have hired this year along with the other traditional firms. Contrary to the industry sentiments, 14% of the offers has come from the banking sector. Overall, we have seen 22.4% increase in the participation of the companies this year."