ISB 2008 batch averages Rs 19 lakh in offers

The placement offers for the Class of 2008 have set new records in the six-year history of the Indian School of Business (ISB), with the students attracting an average Indian cost-to-company (CTC) package of Rs 19 lakh per year, as against Rs 15.27 lakh last year. The comprehensive average of all international offers stood at $144,812 over the previous year's $135,000.

ISB, however, has decided not to highlight the highest salary figure, and instead focus on sharing an overall picture of student performance during the placement season.

Around 657 job offers were made by close to 230 companies to the class of 2008 comprising 422 students, The international CTC averages are $138,614 (US), $156,658 (Europe), $125,389 (West Asia) and $145,607 (Asia Pacific).

The consulting sector (44 per cent) turned out to be the biggest international recruiter, followed by financial services (22 per cent) and manufacturing (17 per cent). Eighteen students opted out of the placements process.

"Placements in 2008 have been truly global at the ISB with several leading and top international companies visiting the campus. The number of international companies visiting the ISB has doubled this year to 111, from 55 last year, establishing the fact that the ISB has become a talent pool for the world," said Savitha Mahajan, associate dean and incharge (admissions and placements), ISB.

"We believe that announcing the CTC of a handful of students out of a large class of 422 does not give a clear and fair picture of the entire class' performance. In keeping with the tradition followed by international B-schools, especially American schools and a few IIMs in India, we will henceforth share the information that is representative of the student body," said ISB dean M Rammohan Rao.

This year too, the B-school witnessed dramatic career shifts "" an Army colonel to head a new venture, an orthopaedic surgeon opting to don the role of a chief operating officer, a scientist to become production head and a restaurant owner joining the real estate.