IIM adds more calories to the paycheck

By siliconindia   |   Friday, 11 March 2011, 23:06 IST
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IIM adds more calories to the paycheck
Kolkata:Things are going to be rosier than ever for management students at IIMs. The pay packages of IIM pass outs have shot up by 10-15% which has resuscitated the hiring trend in the companies. This development was marked by 139 final placement offers and 61 pre-placement offers made during 'Slot Zero'The placement process involved the participation of record 383 students. According to the IIM-C (Calcutta) authorities, Finance sector grabbed the biggest slice of the cake with 31.3 % and consulting & the marketing sectors, relished their share of 23.7% and 21.6% respectively. The candidates made a steal with a whopping 30 lakh to 40 lakh , in the form of remuneration for Indian locations and an astounding Rs 40 to 60 lakh was offered by the 'slot zero' finance companies for foreign locations. On the other hand, slot zero consulting firms went up to the level of 20 lakh to 25 lakh for Indian locations. The marketing firms offered 15 lakh to 20 lakh for the same. The IIM-C affirmed the fact that the lateral placement has sky-rocketed by 57.6 (from 92 to 145 offers) as compared to the previous year. The first day of the placement saw banks like UBS, Morgan Stanley, Citigroup, Deutsche Bank, HSBC and Bank of America-Merrill Lynch, in action. Students were employed by these companies to render their services in their branches, around the globe. The IIM-C has opened up a new alley for the students who vote against taking up a corporate job immediately after the completion of their courses. This new concept called 'deferred placement' gives such students the opportunity to appear in the placement process, in the next three years. Even, the other IIMs like IIM Lucknow and IIM- Kozhikode have scripted the same success story, this year.