IFMR average salary up 20% at Rs 6.8 lakh per annum

CHENNAI: The Institute for Financial and Management Research (IFMR), one of the oldest business schools in Chennai, is churning out more investment bankers and consultants this year, going by the placement figures.

First-time recruiters included i-banking firms such as Darashaw and UBS and also equity research firm Irevna. Also, the average salary this year, which stood at Rs 6.8 lakh per annum, is up by at least 20.3% as compared to Rs 5.6 lakh last year. The highest offer was made by UBS for Rs 8.5 lakh, a 13.3% increase from last year’s Rs 7.5 lakh.

“There is more interest in the investment banking division. Also, portfolios like treasury management, was offered by ICICI Bank for the first time in our campus,” said student rep Hetal Mehta.

The recruiters cut across sectors such as consulting, investment banking, equity research, banking and financial services, IT and Hospitality. Those figuring in the list include Deloitte Touche Tohmatsu, Citigroup Global Services, ICICI Securities, Infosys, Cognizant and Taj Hotels.

The highest number of offers was made by ICICI Bank, with 10 offers. Of this, 8 were for treasury portfolio, a coveted profile for the students here.

ICICI, Kotharis and other industrial groups established IFMR in 1970 as a non-profit organisation. It recently received AICTE’s approval to introduce two more management programs, financial engineering & development and sustainable finance. The institute expects an intake of 30, each for the respective courses.