KOLKATA | MUMBAI: It’s been a better-than-expected placement season at the IIMs this year, and that has had a positive rub-off on other top-tier business schools as well. B-schools like NarseeMonjee Institute of Management Studies (NMIMS), TA Pai Management Institute (TAPMI), Birla Institute of Management Technology (BIMTECH) and others have seen higher salaries on offer, more international postings and double the number of pre-placement offers.
“All IIMs are not in the same ranking when it comes to quality, and for companies, hiring the top 10 percentile of management colleges lower in the order makes more sense than picking up from the bottom percentile of an IIM,” said GaneshShermon, KPMG India partner and country head (human capital).
Top Indian as well as international companies such as Goldman Sachs, Wipro, Accenture, Cognizant, Infosys, Microsoft, Deloitte, Crisil and RBS seem to subscribe to this thinking, making offers at NMIMS, TAPMI, BIMTECH as well as Great Lakes Institute of Management, KJ Somaiya Institute of Management Studies, and Research and Indian Institute of Foreign Trade (IIFT).
At NMIMS and TAPMI, Infosys is one of the top recruiters, picking up around 30 students at each campus. The firm’s HR head, Nandita Gurjar, had said at the time of company results that it would hire from B-schools for its consulting division, which is expected to get a large chunk of projects.
Placement season: Companies prefer to recruit from top-tier B-schools than lower-ranked IIMs
Students at Mumbai-based JBIMS have received pre-placement offers from Standard Chartered Bank, Hindustan Unilever. Procter & Gamble, Citibank, Vodafone, JPMorgan Chase, Mahindra & Mahindra, Accenture and Jones Lang LaSalle so far, with final placements still to come.
NMIMS has a large batch of 473 students, compared with 413 last year, but around two-thirds of the batch have already been placed and 81 PPOs have eased the pressure. Around 60 companies are still to visit the campus before the season ends.
Boom Time at B-Schools
At TAPMI, offers received this year have already crossed last year’s, with 46 companies coming to campus, including blue-chips like IMB Consulting, PricewaterhouseCoopers, ANZ Bank, Titan. HDFC Life and Bajaj Auto Finance. And at Delhi-based IIFT, pre-placement offers have doubled to 42 compared with 21 last year.
“Final placements will start from February when companies rolling out international offers will come in, which includes the firm that gave the highest package of $150,000 last year,” said Munish Bhargava, corporate and placement advisor, IIFT. While the top salaries on offer at these campuses have increased, they are still below the level of the top offers at the IIMs so far. At TAPMI, the top offer was an international posting, from Oman-based brand distribution and retail management solutions company Enhance Oman, which made a Rs 15.84 lakh offer.
At NMIMS, the top salary has surpassed last year’s record of Rs 30 lakh while at IIFT, the top offer so far is Rs 22 lakh, compared with Rs 19 lakh last year. At JBIMS, the highest salary so far is Rs 24.2 lakh, a marginal increase over last year’s Rs 24 lakh. At Chennai-based Great Lakes, Microsoft has offered Rs 28.5 lakh for an India-based profile. The institute has a one-year MBA programme for students with more than two years of work experience.
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