Xavier Institute of Management-Bhubaneswar (XIMB), a premier B-school in the country, has overcome the slump in the job market to achieve 100 per cent placements for the 32nd batch of 365 students of its Business Management programme.
The institute recorded eight per cent increase in average compensation and six per cent hike in median compensation this year.
As many as 107 recruiters visited the XIMB campus, half of which were new recruiters.
“Initially, it looked challenging for placements but as the year proceeded, the momentum picked up. Despite the unfavourable sentiment, we have not witnessed any slide in job offers from the manufacturing sector. In fact, the institute’s brand equity and the quality of students have led to growth across sectors on the placements front. Deloitte has been our biggest recruiter,” said Prof M N Tripathi, Associate Dean (Career Advisory Services) at XIMB.
At 28 per cent, consulting had the highest share among sectors in recruitments followed by marketing (22 per cent) and systems (20 per cent). In terms of stream wise compensation, consulting offered the highest compensation while marketing stole the thunder with a maximum offer of Rs 58.22 lakh per annum from an international firm. The highest domestic salary offered stood at Rs 26 lakh per annum. Average and median salary stood at Rs 15.42 lakh per annum and Rs 15 lakh per annum, respectively.
“We were concerned about the industrial sector scenario. But we finished our placements by the end of January 2020. The alumni have played a key role in getting the companies to the campus”, Tripathi added.
XIMB played host to many new recruiters like AB InBev, Amazon, Becton Dickinson, Citi, Diageo, Emami Agrotech, GE Healthcare, Goldman Sachs, Merck, PhonePe, Shell and Zenoti. Other leading organizations and regular recruiters like Accenture, Tata Steel, Tata Consultancy Services (TCS), HSBC, ICICI Bank KPMG, Jindal Stainless, L&T, L&T Financial Services and PricewaterhouseCoopers (PwC) also picked up students from the XIMB campus.
“Our students have outshone in placements compared to the previous year. Quality of placements, too, has risen. The job market is slightly unfavourable but XIMB is making a difference with its quality”, said Antony R Uvary, Vice Chancellor at Xavier University, Bhubaneswar.
Students at the Xavier School of Rural Management (XSRM) and Xavier School of Human Resource Management were also successfully placed. At XSRM, the recruitment portfolio witnessed a sharp increase in hiring in the financial inclusion sector that boasted of a share of 41.4 per cent in overall placements. The highest package was offered by Extramarks and Spandana Sphoorty Financial Ltd standing at Rs 13.2 lakh per annum.