The highest domestic salary offered was a whopping Rs 40 lakhs. Unlike most B-Schools these were not mere outliers, proven by the staggering rise in the domestic average salary in Slot 0 to Rs 20.9 lakh from Rs 14.8 lakh last year.
India Calling
The total number of foreign accepted offers reached an all-time high of 58. But the most heartening aspect of the placement season has been the preference shown by many students for domestic offers. Over a dozen students rejected overseas offers to stay back in India though in the same industries and companies, pointing towards a healthy trend in recruitment at the top B-school. This is mainly due to the booming growth story of India and the surge of the investment banks and consults into Indian soil.
New Recruiters and the Finance Stronghold
Apart from the usual suspects – world’s leading strategy consulting firms and investment banks – there were several firms that chose to recruit exclusively from the Calcutta campus. Value Partners, Optiver, BNP, among others, decided to give all other B-Schools a by and pick all their fresh recruits from IIM Calcutta. Optiver is a trading brokerage firm that usually limited its recruitment drive to Ivy League management schools before this and since it lays a lot of emphasis on quantitative skills IIM Calcutta is a natural choice. The curriculum at the institute is very well suited to produce potential stars for finance firms, and that is why they are lapped up the moment they pass out.
An Ivy League Institute in India
With multiple investment banks offering Associate positions to 4 students and consulting firms offering positions usually offered only to Ivy League schools, IIM Calcutta alumni have earned the institute the deserved right to be ranked amongst the top B-Schools across the globe.
Emerging Markets – Emerging Industries
In addition to Investment banks, firms from retail and supply chain management also offered foreign locations. Another trend of note was the influx of firms from the middle- east. The increase in offers from Singapore, Hong Kong and other South East Asian and East Asian markets is a testament to the trust in IIM Calcutta’s talent to lead the growth in these sunrise industries and high growth markets.
Appendices
Given below are the statistics for the placement season 2006-2007:
Total offers: 531
Total companies: 108
New comers:
ING (Netherlands), Bain Consulting, Trikona (Real Estate and Private Equity), CIC (Real Estate and Private Equity), Value Partners (Strategy Consulting) and Optiver (Market Maker).
Recruiting exclusively from IIMC:
JP Morgan Chase, BNP Paribas, Sun Group (Private Equity) and Optiver.
| 2006 | 2007 | Percent(pc) Increase | |||
| Slot 0 | Highest | Domestic | INR 23 Lakhs | INR 40 Lakhs | 74 pc |
| International | 152,000 USD | 250,000 USD | 64 pc | ||
| Average | Domestic | INR 14.65 Lakhs | INR 20.9 Lakhs | 43 pc | |
| Slot 1 | Highest | Domestic | INR 16.75 Lakhs | INR 18 Lakhs | 7 pc |
| Average | Domestic | INR 9.65 Lakhs | INR 12.35 Lakhs | 28 pc | |
| Slot 2 | Highest | Domestic | INR 12.5 Lakhs | INR 17 Lakhs | 36pc |
| Average | Domestic | INR 8.48 Lakhs | INR 9.95 Lakhs | 17pc | |
| Total | Average | Domestic | INR 9.81 Lakhs | INR 14.17 Lakhs | 44pc |
Which sectors did students go to:
– Less than 11 months : 93
– From 11 – 22 months : 28
– From 22 – 40 months : 105
– More than 40 months : 25