Google, Arcelor Mittal and HCL Technologies are among some 37 India and global companies that participated in the lateral placement programme at Indian Institute of Management, Ahmedabad.
In all, they made 103 offers with the salary for India-based jobs averaging about Rs 18.3 lakhs, an IIM-Ahmedabad statement said. Most of the offers were for jobs within the country — only seven of them were located overseas.
Lateral placements at the country’s premier institute are for students who have work experience of about 18 months.
Consulting major Monitor Group and strategic investment firm Greater Pacific Capital made exclusive offers to students at IIM-Ahmedabad, the statement said.
The results underscore the growing demand for talent at India’s premier management schools. It also highlights a growing preference among Indians to work on home turf.
“Students want a good profile and are not as keen on foreign placement as they realise they can make the same kind of money in India now,” said Munish Bhargava, corporate and placement adviser at New Delhi-based Indian Institute of Foreign Trade.
Last month, IIFT conducted final placements for the batch of 2007, of which about 70 per cent students had work experience of one year. About 151 students from the institute’s two centres at Delhi and Kolkata participated in the lateral placement programme.
The highest annual domestic salary offered was about Rs 25 lakh with an average annual salary offer of Rs 10.11 lakh, up from the Rs 9.45 lakh average offered last year. The highest international salary offered was about $1,10,000 or Rs 44 lakh.
About 50 companies including Yes Bank, Lehman Brothers, Barclays and Palmolive amongst others participated in the placement process at IIFT.