According to the latest data for placements of Indian Institute of Management, Ahmadabad IIM-A for its Post Graduate Program in Management, there has been a phenomenal rise in global salaries by 28.38% and in domestic salaries by 10%, which has been highest ever. The top recruiter among consulting and BFSI (banking, financial services and insurance) companies has been Accenture Strategy, with a total of 18 offers. The final placements report was released by IIM-A under Indian Placement Reporting Standards (IPRS), 2014. Also, the report has been audited by an independent auditor CRISIL, as per the guidelines of IPRS.
According to this report on IIM A placements, the highest domestic salary packages, expressed in the form of Maximum Earning Potential Cash Component (MEP), has shown a rise by 10.81%, from Rs 37 lakh in 2013 to Rs 41 lakh in 2014. The minimum domestic MEP value too increased from Rs 6.5 lakh in 2013 to Rs 10 lakh in 2014, while the median MEP went up from Rs 16.8 lakh last year to Rs 18 lakh this year. Conversely, the highest international MEP rose by 28.38% from $ 150,000 in 2013 to $ 192,581 in 2014, while the minimum value rose from $ 26,140 in 2013 to $ 34,323 in 2014 and median MEP went up from $ 46,243 in 2013 to $ 74,562 in 2014.
As per IIM-A, the data of compensation packages was not furnished by all the recruiters. MEP includes the fixed yearly component, along with one time cash benefit and maximum performance based compensation during the first year of the employee performance and all other components of salary, which make the part of the job offer. Also, the value may include long term benefits such as PF and other related perks.
The IIM-A placement process of 2014 had more than 125 firms participating in it, as opposed to nearly 130 of them in 2013. The Boston Consulting Group (BCG), which was the top recruiter for 2013, was replaced by Accenture Strategy this year, with 18 recruitments in all. BCG recruited 15 students this year, while at Kearney, Bain & Co and McKinsey & Co made seven recruitments and EXL made eight of them. Amazon topped the recruiters list in technology segment, with a total of 15 recruitments in the field of business management and operations. Following Amazon in this segment are Samsung and Latent View, with seven offers in business development and data analysis.
In the international banking sector, HSBC emerged as the largest recruiter, making nine of them in the field of corporate banking, investment banking and private banking, while the top recruiter position among general management firms was bagged by RIL with eight offers. Some of the first time recruiters in IIM-A are Fractal Analytics, Kepler Cannon and Embibe.com. So many lucrative opportunities have made it worth spending money on IIM A fees by the students of IIM-A.
Despite this massive recruitment drive in IIM-A, amazingly thirteen of the students opted out of it as they wanted to start up new ventures as entrepreneurs, in the fields of IT solutions, support logistics, transport, etc. the batch size of the 2012-14 group was 354 and the total number of students who are eligible for placements was 381. A total of 362 students accepted the job offers, as compared to 360 of them last year. In comparison to last year, the sectoral trend did not show significant change, with 118 offers (all domestic) in consulting sector, followed by 62 of them by BFSI (with 13 international offers) and 24 (all domestic) for IT and FMCG sector.
In case of IIM-A Agribusiness Management Program (PGP-ABM), 36 offers were made by 30 recruiters, with names like Godrej Agrovet, Naga Industries and Kirloskar Oil India Ltd topping the list. The highest MEP reached a figure of Rs 20.50 lakh in 2014, as compared to Rs 19.73 lakh in 2013. The IIM-A PG Program for Executives (PGPX) had a total of 52 offers this year, with highest MEP reaching a figure of Rs 56.31 lakh in 2014, as compared to Rs 54.39 lakh in 2013.