Highest domestic salary offered at the Indian Institute of Management (IIM), Nagpur, doubled to Rs 40 lakh year, as the B-school completed the final placement process for its flagship Post Graduate Programme in Management (PGP) batch of 2018-20. Last year, the highest domestic salary package that the institute had attracted was Rs 20 lakh.
The average pay package, however, increased only marginally by six per cent to Rs 13.10 lakh this year, from Rs 12.35 lakh a year in the previous batch. Average pay offered for the top five per cent and 10 per cent of the batch stood at Rs 28 lakh and Rs 21.60 lakh while that for the top 50 per cent was Rs 15.83 lakh per annum.
Apart from the final placement process, recruiters also made more pre-placement offers (PPOs), said L S Murty, director of IIM Nagpur, which is soon planning to move into its new permanent campus with increased student intake.
Consulting, engineering services, ITeS and BFSI together recruited more than 79 per cent of the batch of 111 students. While more than 50 recruiters participated during the final placement process at IIM Nagpur, 36 were visiting for the first time.
In terms of sectors, recruiters from FMCD, manufacturing, analytics, IT, consulting, automobile and logistics, among others participated. Major recruiters included Deloitte Consulting, Amazon, ThyssenKrupp, MuSigma, Genpact, ANZ Bank, Hexaware Technologies, TechMahindra, Wipro Digital, TVS Motors, Kotak Mahindra, HCL Technologies and L&T Realty, among others.
According to Rahul Kumar Sett, chairperson of Career Development Services (CDS) at IIM Nagpur, the institute's flexibility to introduce new courses in accordance with changing nature of work across domains is providing it a significant edge during placements. "This season, we not only successfully retained our previous recruiters but also witnessed more participation from first-time recruiters."