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The average annual domestic salary offered to students of the Jamnalal Bajaj Institute of Management Studies has fallen when compared to last year from Rs 15.54 lakh to Rs 14.9 lakh. The best offer that was made this year too has plummeted by Rs 2 lakh even though the city’s premier B-school invited more companies than last year. 2011-12 was predicted as a doom year for economic growth and experts compared it to the year of global depression that has passed by. But this year may not be as worse as the forecast. For instance, when the class of 2009 passed out, most of the 98 companies that landed up on campus offered a salary in the range of Rs 10.72 lakh, which was lower than the fancy compensation packages management students were spoilt for. A year before the bad times set in, the class of 2008 had partied over their Rs 13.84 lakh average annual salary. Between those two years, even the highest salary offered dropped from Rs 29 lakh to Rs 18 lakh a year. It is not a bad year. Over all, we feel it is good as compared to other B-schools, but yes, companies are being cautious and some did not turn up. “Last year, Oliver Wyman, was the highest payer. But this time we believe it did not visit any campus for recruitment”, said Stephen D Silva, JBIMS director. Five international companies picked JBIMS students last year; this year merely two organizations came to hire students from this campus. Banking, financial services and insurance recruited the largest pool of students (33%), followed by FMCG and pharma companies (24%) and consulting and IT firms (15%).
There were some recruiters who chose to visit JBIMS for the first time: Google, Aditya Birla Group, Amazon and Michael Page International. Sagar Naik (25), a fresh JBIMS graduate, who suffers from post-polio paralysis, will go on to work for Gadhia Solar Systems, which is in the renewable energy space. “I will work in the sales marketing section and will double up as a research analyst. Is at for three interview sessions, but I am glad to have bagged this job”, said Naik. For other city B-schools, the scenario is similar. S.P. Jain Institute of Management and Research, which came out with their final placement report last week, saw an increase in the highest salary drawn by their students and even in the average salary offer made on the campus. Abbas ali G abula, deputy director (external relations and administration), said, “We have had a good placement session this year. More than 51% has offers of Rs 15 lakh and more. Even the median salary for the 176 candidates was around Rs 15.25 lakh, almost Rs l lakh higher than last year.
Courtesy: Times of India
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