Xlri Gets Some Placement Honours
Jamshedpur-based Xavier Labour Relations Institute (XLRI), recognised essentially as a human resources (HR) studies institute, pipped premier business management schools such as the Indian Institute of Management (IIM) this year to clinch placements with global consultancy major McKinsey and Co.
The firm also offered the highest salary on the XLRI campus at Rs 8.5 lakh per annum.
For XLRI, this marks a significant breakthrough in its bid to acquire recognition as a competitive business management institute, alongside its traditional focus on HR studies.
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McKinsey had shortlisted 16 candidates out of IIM, Lucknow; JBIMS, Mumbai; and XLRI; out of which only two were finally selected, both from XLRI. According to an institute spokersperson, "This bears witness to the fact that though XLRI started out as an HR institution, it has been able to evolve a business management course comparable with the best in the industry."
Riding on the prevailing employment boom in the country, the institute's placement exercise for this year has seen 100 per cent placements within a span of just two days.
This year, the institute was also able to overcome its locational disadvantage by arranging for chartered flights from Calcutta to Jamshedpur at regular intervals to bring in corporates from Delhi and Mumbai for placements.
Another significant feature in placements 2000 was the increased number of lateral placements, which totalled to 14 with an average annual salary of Rs 6 lakh, exclusive of performance bonuses which could go upto a maximum of 60 per cent of the base salary.
About 18 per cent of the batch has been placed with consultancy firms such as McKinsey, Andersen Consulting, Arthur Andersen, William M Mercer and Eicher Consultancy Services, 10 per cent have gone with HR consultancy services while there were a total of 53 offers from infotech firms such as Wipro, Infosys and HCL Infosystems.
According to the spokesperson, the average rupee salary was Rs 4.83 lakh, which is up 60 per cent from last year, while the number of offers per student averaged at 3, up 30 per cent from last year.