XIM-B average salary up 45% in 2010 placements

After reeling under the impact of the economic downturn last year, the placements at Xavier Institute of Management-Bhubaneswar (XIMB) has bounced back to record new highs in this year’s placement season.

XIMB secured 100 per cent placement yet again in 2010 but more importantly, the average salary of the PGDM (Post Graduate Diploma in Management) touched Rs 10.52 lakh, a 45 per cent increase over the last year.

The highest domestic offer too, recorded a growth of 12.5 per cent this year reaching Rs 18 lakh while the median salary stood at Rs 9.5 lakh.

The institute also bagged four international offers this year, the highest being $1,50,000 from Olam International.

In all, 58 companies participated in the final placement process which included some of the most sought after corporate organizations like Vodafone, Infosys, Tata Consultancy Services (TCS), Essar Group, Tata Steel, Mahindra & Mahindra and HSBC.

There were new recruiters on the XIMB turf this time like Nokia, Dell, Royal Bank of Scotland, Religare, Daimler and Vistasoft.

The final placement process witnessed the participation of 118 out of the 120 students of the 2008-10 batch of XIMB. Two students who stayed out of the placements opted for entrepreneurship.

As always, finance had the biggest share of the placements with 29 per cent followed by IT at 21per cent and consulting at 17 per cent.

Commenting on the placements, P T Joseph, director, XIMB said, “XIMB has always been able to live up to the expectations of the corporate world. With their hard work and rigour, our students will excel and be a step ahead of others.”

Saveeta Mohanty, Placement Faculty Coordinator (PGDM), XIMB said, “The rigorous grounding that our students undergo equips them to face the dynamic challenges in the corporate world. With yet another year of successful placements, we are hopeful that we will continue this tradition in the years to come.”

This year’s placements also brought cheer to the students of Rural Management.

The average salary stood at Rs 5.3 lakh, marking an 18.83 per cent increase over 2009 while the highest package reached Rs 9.5 lakh.

Placements for Rural Management saw 23 recruiters at the B-schoolcampus with noted companies like ITC, Tata Teleservices, SBI Life, Amul, Monsanto and IDBI throwing offers to the students.

Niraj Kumar, Placement Faculty Coordinator (Rural Management), XIMB said, “With every passing year, our Rural Management students are scaling newer heights and expanding their horizon. The participation of recruiters from diverse sectors like banking and microfinance, agriculture and allied business, research and consultancy and development has provided the students the option to choose the organization in their preferred areas.”

For Rural Management, banking and microfinance emerged as the preferred sector of choice with 47 per cent of the students choosing this area followed by 23 per cent for agriculture and allied business.