IIT Bombay B-school salaries rise 24% this year

MUMBAI: Placement at Shailesh J Mehta School of Management, IIT Bombay witnessed the average domestic salary rise by 24% to Rs 9.71 lakh from Rs 7.83 lakh last year. The highest international offer of $85,000 was made by Olam International to Kunal Kundaje and Abhishek Mani. Said Kundaje, “I prefer an international exposure early in my career as it will help me grow both professionally and personally.”

This year’s highest domestic offer Rs 13.2 lakh, up by 20% from the last year has been made by an international supply chain management (SCM) and retail consultancy firm. Majority (28%) of the total batch (58) opted for systems-related job profiles while consulting, banking and finance were the next popular choices. Marketing-related jobs had very few takers.

Only 9% of the batch opted for jobs related to marketing compared to 23% last year. “Students hedge their bet by opting for dual specialisation and eventually go in for profiles that offer better incentives,” said Prof. SVD Nageswara Rao, placement coordinator, IITSOM.

This year 10% of the batch was offered international profiles compared to 15 % last year. Also, 9% of the batch has been offered leadership profiles in companies like GE, Tech Mahindra and HCL. These students will be put on a fast track career path. The minimum salary stood at Rs 6.5 lakh compared to Rs 5.5 in the previous year. About 37% of the batch had preplacement offers from companies like Marico, Wipro, L’Oreal, Patni, eClerx, Cadbury, Tata Motors, CitiGroup have offered PPOs/PPIs.

The other companies that came into campus were Dell, Deloitte, GE, HSBC, Intel, SAP, Accenture, IBM, Infosys, and RPG. JP Morgan and Lehman Brothers were some of the first time recruiters on the campus.