Indian B-schools are beating the slowdown with average salary offers at ₹2.5 million

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  • Despite slowdown, top management schools have managed to beat the average salary packages in India — extending as high as ₹2.3 million as the starting pay for domestic offers.
  • This placement season, several management institutions — including Indian Institute of Management (IIM) Lucknow, Indian Institute of Management (IIM) Kozhikode, Management Development Institute (MDI) — clocked 100% placements within the first week.
  • The highest salary bagged on international offers at IIM Lucknow was ₹5.8 million while the highest recorded domestic salary was ₹5.4 million.
  • At Management Development Institute (MDI) Gurgaon, Amazon offered the highest package at ₹4 million.
Despite slowdown, top management schools have managed to beat the average salary packages in India. Some even went as high as ₹2.3 million (₹23 lakhs) as the starting pay for domestic offers. For international offers, the compensation went as high as ₹5 million.

This placement season has been a fruitful one so far. Several management institutions — including Indian Institute of Management (IIM) Lucknow, Indian Institute of Management (IIM) Kozhikode, Management Development Institute (MDI) — clocked in 100% placements in the first week.

Over 140 companies visited the offering an average salary package of ₹2.4 million. The highest salary bagged on international offers at IIM Lucknow was ₹5.8 million while the highest recorded domestic salary was at ₹5.4 million.

International job offers came from the USA, Dubai, Africa, Qatar and Africa.

Average salaries went up by 22% at IIM-K

IIM Kozhikode, on the other hand, placed over 400 students, witnessing a 22% increase in the average salaries as compared to last year. The average salary for the batch was ₹2.3 million — which went up to ₹2.7 million for the top performing students.

“Despite the negative sentiment of the job market, green energy, and e-commerce sectors along with emerging startups — including education technology startups — have hired this year along with the other traditional firms. IIMK has seen a 200% surge in offers from start-ups along with more than 150% increase in the roles from e-commerce firms securing 12.5% of the total offers from these sectors,” said professor Shovan Chowdhury, chairperson of placements at IIM Kozhikode.

At MDI, Gurgaon, Amazon offered the highest package at ₹4 million. And the average compensation too increased by 9.5% at ₹ 2.2 million.

More than half of the offers (57%) were from companies in the consulting, BFSI (Banking, Insurance and Financial Services), technology and telecom. This includes 63 offers from PwC, Deloitte, ICICI Bank, IDFC Bank and Airtel.

Automotive, logistics and pharmaceuticals accounted for almost 15% of the offers, Kanwal Kapil, Dean of Placements at MDI, Gurgaon told Business Insider.

Average MBA graduate salary grew multifold in the last two years

According to a Campus Salary Hiring and Employment 2018 report by Mettl, the average salary for MBA graduates was recorded as ₹930,000 per annum — which has grown multifold in the last two years.

While consulting firms are known to pay the highest to the fresh graduates, e-commerce companies like Amazon, Flipkart and Myntra emerged as the top recruiters this year. Flipkart made nine offers while Amazon rolled out 13 offers at IIM Lucknow. While Accenture, Airtel, American Express and Boston Consulting Group (BCG) were the top recruiters at IIM Kozhikode.

See also:
Amazon becomes the top recruiter at MDI Gurgaon with a ₹40.5 lakh offer

Recruiters explain why finance MBAs in India are looking beyond investment banking roles⁠— and rightly so

India’s top b-school graduates are being paid over ₹2 lakh for summer internships

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