IIM graduates become crorepatis; Pre-placement offers on rise

NEW DELHI: The rising accolades for India on the world corporate arena is not benefiting the companies alone, the would-be managers in the country are also getting a pie with job offers running into crores.

Still to complete their study, five students at Indian Institute of Management, Lucknow have got pre-placement job offers with an average salary of Rs one crore, all coming from global investment banks.

"The numbers of offers have already surpassed the last year's figures when only four students had bagged PPOs till the time of final placements," IIM-L's Student Recruitment Coordinator Mahesh Nair told media.

All the five offers are from international investment banks, Nair said, but did not divulge the employers' names. The process is still on and the institute expects more offers to come in the immediate future.

The other IIMs in the country are also seeing a rush of international corporates with an increasing number of pre- placement offers (PPOs) for their students.

PPOs are final placement offers made to the students based on their performance during the summer internship at a company after the first year of MBA.

"This year, we have seen a significant rise in the number of PPOs made to our students and this remarkable feature is unparalleled across all IIMs," the placement cell of IIM Banagalore said in a statement.

Job offers have been pouring for IIM-B students this year, with a record 70 pre-placement offers having been made for a batch of 250 students.

At IIM-B, many companies are still in the process of completing the evaluation of candidates and more PPOs could be on way.