Shri Ram College of Commerce sees a 32% increase in the average pay package as it ends its placement drive amid COVID-19

  • Shri Ram College of Commerce (SRCC) has announced the closure of its Recruitment Season 2019-20.
  • It says over 120 recruits gave more than 500 job offers with an annual gross value of ₹23.3 crores.
  • Between March and June, over 200 freshers were placed with an average salary package of ₹6.7 lakh a year.
Coronavirus may have dampened the spirits of thousands of new graduates, who were until last year preparing to enter India’s workforce. However, students of the country's top commerce institution, Shri Ram College of Commerce (SRCC), are still in demand for companies looking to hire new talent.

SRCC, part of the Delhi University (DU), has ended placement season 2020 amid COVID-19. The the highest package offered in the second phase that was held amid COVID-19 between March and May was ₹17 lakh a year.

SRCC’s second placement drive 2020 (March'20 to May'20) :
Job offers 225+
Highest Package ₹17 lakh per annum
Average Package₹6.6 lakh per annum
Average Stipend₹1.5 lakh per month
New recruiters Auctus Advisors, American Express, and Marico

The college claims that it did not see a significant fall in its hiring offers due to COVID-19. According to SRCC, there was a 32% increase in the average package and a 25% increase in its median package in the year 2019-20, in comparison to last year.

Placements during a pandemic

SRCC is one of the top commerce institutions in India. For students to get admission into the college, they have to score over 95% in 12th grade just to get in. And, the cut-offs are only increasing every year.

The first phase of the placement drive at SRCC began in December with as many as 130 students receiving job offers. The highest package offered in the first phase was ₹31 lakh a year. The second drive was scheduled in January. However, once the coronavirus pandemic kicked in, it slowed down the process. Moreover, offers of 13 students who were placed in the first phase of the placement drive were either revoked or delayed.

Despite the slowdown, it held the second phase of the placement drive and managed to get over 225 job offers from 120 recruiters for its undergraduate students. Around 554 students from the batch 2020, were registered with SRCC’s Placement Cell for jobs and internships.

“It was quite challenging to be able to digitalise the entire process quickly and seamlessly, given that COVID had taken a drastic toll on the recruitment sector,” Vikram Nanda, Chief Secretary of the placement cell at SRCC, said in a statement.

SRCC has further managed to get new offers for some of the students whose offers were revoked in the first drive.

“As a team, we were happy with the fact that our statistics were still on a gradual rise and didn’t record any fall amidst the hiring freeze,” said Nanda.

SRCC is now developing a virtual recruitment portal for the upcoming placement drive for the year 2020-21. They say they are very optimistic about the upcoming season and expect increased participation in online hiring as well.

It is expecting McKinsey and Kearney, and FTI Consulting to make an offer to their undergraduate students in the upcoming season. Currently, 516 students from the batch of 2021 are registered with the placement cell.

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