IIM-C sees Rs 2.2-lakh rise in average salary

The average salaries on offer for students from the 2009-11 post graduate diploma in business management (PGDBM) batch at Indian Institute of Management-Calcutta (IIM-C) has gone up from Rs 15.4 lakh per annum last year to Rs 17.6 lakh per annum this year.

“There has been an upward revision in the overall salaries on offer across sectors this year, which has translated into an increase in salary packages on offer,” said the Chairperson, placements, Amit Dhiman.

The process of salary figures auditing was carried out internally by a team of faculty members headed by Dhiman and took about a month and a half. The lowest salary offered was Rs 7.5 lakh per annum, highest in the lower variable among three top IIMs- Ahmedabad, Bangalore and Calcutta.

Dhiman, however, declined to reveal the highest salary for the batch, citing issues related to the variable component, which is high in the finance and the investment banking sector. The sector is also the highest-paying, offering more compared to consultancy and marketing.

“While the range of absolute salaries for finance has gone up from Rs 30-50 lakh last year to about Rs 40-60 lakh this year, it would be tough to give out the exact highest salary, given the fact that the variable component involved in these packages could go up to 200 per cent of the total salary,” Dhiman said.

For the oldest IIM in the country, which has often been called the finance campus, the finance sector ruled the roost this year as well. About 31 per cent of students opted for finance-based jobs, followed by consulting and marketing chosen by 24 and 22 per cent students, respectively.

IIM-C also received the highest number of pre-placement offers across all IIMs. This number included positions in international locations like New York, Singapore, Hong Kong and London.