Non-tech companies fire up hiring at leading business schools
B-schools are seeing offers for freshly minted management grads from consulting, BFSI (banking, financial services and insurance), conglomerates and FMCG, FMCD (fast-moving consumer goods/durables) companies, thus feeling the pinch less than many engineering colleges, which are dealing with a rationalisation in tech hiring from major recruiters in the software-IT space.
Bengaluru | New Delhi: Placements at the country’s leading business schools have got off to a strong start in a job market that’s coming off its post-pandemic highs. B-schools are seeing offers for freshly minted management grads from consulting, BFSI (banking, financial services and insurance), conglomerates and FMCG, FMCD (fast-moving consumer goods/durables) companies, thus feeling the pinch less than many engineering colleges, which are dealing with a rationalisation in tech hiring from major recruiters in the software-IT space.
Faculty of Management Studies (FMS), Delhi; Management Development Institute (MDI), Gurgaon; International Management Institute (IMI), New Delhi, and the Indian Institutes Of Managemen (IIMs) at Sambalpur and Rohtak are among those that have seen average packages rise and recruiters, both old and new, hire in substantial numbers.
“This is the best year so far in terms of placements,” said Mahadeo Jaiswal, director, IIM Sambalpur. “There is a record jump in highest offer by 300% while the average salary has also gone up by around 30%.”
Not only have pre-placement offers (PPOs) gone up significantly from last year, schools invited more recruiters to weather any possible impact of a pullback in hiring numbers, said people with knowledge of the matter.
New Roles, Profiles Offered
About 120 companies registered for placements of the 2021-23 batch at IIM Sambalpur, a 71% jump over 70 last year.
At MDI Gurgaon, the average package is ₹26.42 lakh, and the top salary is ₹60 lakh. The number of recruiters has risen 17% from 87 last year to 102 and consulting is the largest recruiter by sector. The top three recruiters by numbers are Deloitte with 55 offers, Accenture Strategy with 32 and PwC India with 30.
Firms in spaces such as BFSI, conglomerates, automobiles, energy and logistics and technology, telecommunications and media also made a sizable number of offers.
“Most of our prominent recruiters hired in good numbers during this placement season. There were also firms that offered new roles, profiles to the students,” said Anurag Singh Chauhan, faculty in charge of graduate programme placements, MDI Gurgaon.
Vaibhav Jain, placement secretary at FMS Delhi, said this year is better than the last one.
“There is a significant jump in the highest package, average packages and the number of recruiters. Companies from finance and FMCG domains hired aggressively this year while the tech hiring was low,” he said.
At IIM Rohtak, more than 45 new recruiters were brought on board. There was a 16.7% growth in average salary to ₹18.73 lakh while the top 25% of the batch got an average salary of ₹27.15 lakh.
“The highest domestic salary increased by 12.5% to ₹36 lakh while the number of PPOs and PPIs (pre-placement interviews) offered rose by 65%,” said Sanket Dash, co-chairman, placements.
IMI New Delhi registered an increase of 11.32% in average salary to ₹ 17.01 lakh. The top 10% and top 25% average cost to company (CTC) stood at ₹ 25.21 lakh and ₹ 21.59 lakh, respectively.
More than 50 new recruiters were added and PPOs saw a 150% growth from last year, with BFSI absorbing 35% of the batch. The highest salary jumped 56% from last year’s ₹32 lakh to ₹50 lakh this year, said Amit Ghosh, head executive education, career services and alumni relations at IMI New Delhi.
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