Contrary to apprehensions over a sluggish economy, placements at top B-schools, including Indian Institutes of Management (IIMs), have been robust this year. Faculty of Management Studies (FMS), Delhi, which reported a 100 per cent placement, attracted its highest-ever average cost-to-company (CTC) offer of Rs 25.6 lakh per annum, as the B-school wrapped up the final recruitment process for the 2018-20 batch. The highest annual salary package offered was Rs 58.6 lakh.
The average package saw an 11 per cent over the last year, while the median package stood at Rs 23.4 lakh per annum.
IIM Ahmedabad's final placement process witnessed a rise of 80 per cent in the number of recruiters participating from the private equity (PE), venture capital (VC) and asset management (AM) cohort this year, over 2019.
Besides, at IIM Udaipur, the average stipend for internships rose 37 per cent as the B-school wrapped up its summer placement process for the 2019-21 batch, ahead of its final placement process for the 2018-20 batch. The average stipend for the batch reached Rs 85,060, up 37 per cent over last year. The highest stipend -- Rs 2.50 lakh -- was offered in the FMCG sector.
Though B-schools were apprehensive of placements amid the current economic slowdown, the chairperson of the placement committee of IIM Ahmedabad, Amit Karna, stated the outcome was not only better than expected but even better than previous years.
"Double-digit growth in 'dream applications' made by our students led to 40 per cent of the batch exercising an option to sit for interviews after having an offer from one cluster. This clearly demonstrates the maturity and effectiveness of our unique placement process that follows a cluster-cohort system," Karna added.
Part of the first cluster which included other cohorts like investment banking & markets, management consulting, and advisory consulting, the PE/VC/AM cohort had earlier seen a 200 per cent rise in 2019 over 2018, according to a consolidated, but unaudited placement report by IIM Ahmedabad. Unlike many other B-schools, IIM Ahmedabad follows a cluster system in the final placements process where sectors are invited in cohorts at regular intervals.
In all, 153 firms participated offering 182 different roles for the 2020 batch, with McKinsey & Co and BCG leading the pack with 27 and 23 offers, including pre-placement offers (PPOs). Mastercard extended 11 offers in the niche consulting cohort.
Among the investment banks, Avendus was the biggest recruiter, making 10 offers, closely followed by JPMorgan with eight offers. There were 38 new recruiters this year, including Blackstone Group, Colgate, DaytoDay Health, Diageo, FIITJEE, HCL Technologies and Strategy& (Middle East). Roles were also opened across geographies including Australia, Malaysia and West Asia.