The Final Placement Process at IIM Bangalore concluded on Tuesday, the 14th of March, by the end of Slot 2 of the process, with IIMB setting new benchmarks for the Indian MBA Graduates. The highest salary offer for foreign placements touched USD $193,000 setting a new record across the IIMs.
This year leading Global Consulting firms flocked down to IIMB making a beeline for the students along with the Global Investment banks. Along with the regular consulting recruiters like McKinsey & Co, Boston Consulting Group, AT Kearney, Accenture, KPMG and others, with the realm of new firms including Bain & Co, besides with niche players including Amex Grss, Diamond Cluster, Ameriprise Financials, GlobaleProcure, Chainanalytics and many others.
Overall, 26% of the batch accepted a position in a consulting career, known for its demand for multi-functional skills, cutting across Finance, Strategy and Marketing. This was again the highest across IIMs and a strong testimony to the pedigree of students at IIMB. McKinsey and Co was the single largest recruiter in this year’s placement, inducting 9 IIMB students in their fold. The other sectors that have seen significant number of positions being offered include Investment Banking (26%), Marketing (15%), Finance (16%), IT (13%), Operations and General Management (6%).
The number of new IT consulting and IT companies that came down to IIMB also increased. This included Bloomberg (New York), RSG Systems (US) and US Tech (New York, California).
Global growth
The increasing number of Global recruiters bears a strong testimony to the maturing global reputation of IIMB. For the first time in its history; the campus hosted leading multinationals like Bain & Co., UBS (Hong Kong, London, Singapore), Merrill Lynch (Hong Kong), Lehman Brothers (London), ABN AMRO (Hong Kong), Baring Private Equity, Bloomberg (New York), Ameriprise Financials (Minneapolis), DPWN (Germany, US), Freudenberg (Germany), Macquarie (Australia), US Tech (New York, California), Globaleprocure and Diamond Cluster amongst others.
Hedge Funds and Private Equity Firms that recruit for highly specialized positions have shown a growing interest in IIMB students.
International Placements
IIMB created history this time with almost one-third of the batch taking up offers from Day Zero firms; a statistic unmatched across the IIMs. The total number of Day Zero
offers itself increased by an unprecedented 58.5% from 41 to 65. There has also been a tremendous increase in the number of companies that took part in Day Zero of the process, by a whopping 31%.
Slot One
For the first time ever an Indian Bank to come down to recruit for its Global Locations. ICICI offered positions for its London and Singapore offices. A total number of 79 students (representing 46% of the batch) were placed on Day-1 that boasted of a huge diversity in terms of the jobs and positions offered.
The international offers continued to pour in on Slot One with companies like Macquarie Bank (Australia), RSG Systems, US Tech, Proctor and Gamble, AXA associates and others recruiting IIMB students in huge numbers. The average domestic salary of the batch increased to Rs. 9 Lakhs per annum this year.
A total of 110 companies confirmed participation of which the number of Day-0 and international positions comes to a spectacular 76 students. The average international salary this year was whopping $90,000 per annum. Barclays Capital, Deutsche Bank, Merrill Lynch and emerged as the major high paying recruiters.
Despite having the smallest batch size among the 3 older IIMs (Bangalore, Calcutta & Ahmedabad), IIMB received more offers from most of the recruiters. Several companies descended to IIMB alone for the Placement process, including Lehman Brothers London, Amex Grss and German conglomerate Freudenberg.