Two IIM-A grads chuck Rs 1-cr offer
By TNN |
Highlights
AHMEDABAD: IIMs are churning out crorepatis like never before. A total of 11 students at IIM-Ahmedabad have bagged packages worth Rs 1 crore or more during the final placement process at the institute, which formally concluded on Tuesday.
While nine graduates accepted the Rs 1-crore offers, two refused lucrative international offers so as to set up their own venture. This year, the highest international salary went up by over 35% to touch $2,25,000, including a minimum bonus, as against last year’s $185,000.
The highest domestic salary has nearly doubled from Rs 34 lakh a year to over Rs 60 lakh. “If we include average bonus that these firms give out, the highest international salary touches $300,000 while the highest domestic salary reaches the Rs 1-crore mark,” IIM-A director Bakul Dholakia said. This was Mr Dholakia’s last placement season as director as his term expires in October this year.
The number of graduates preferring their own start-ups nearly doubled to 11 from six last year. On the other hand, the number of international and lateral offers accepted has gone down this year.
“The infrastructure segment is growing at a fast pace. As I already have knowledge about the sector, I plan to start a real-estate venture," said Raghvendra Reddy, student, IIM-A who opted out of the placement process.
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Despite higher number of offers during lateral placements this year, the acceptances have been low. Sample this: While the number of laterals jumped from last year’s 133 to 153 this year, the number of acceptances went down from 38 to 28 this year. Also, the number of international offers accepted went down to 63 as against 72 last year.“The acceptance of lateral offers might have gone down as the students got better offers during the final placement process,” says an institute official. Continuing the trend, a high number of students (44%) joined investment banks, consulting and financial firms this year. However, the IT sector did not find many takers at IIM-A with the acceptances falling to 4% from the last year’s 16%.
“Consulting firms have been at the forefront in the recruitment process this year. Apart from i-banks, these firms have made many offers including 23 associate level positions,” said Prof Piyush Sinha, chairman, placements, IIM-A.
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