Girls have come into their own at India’s business schools this year. At several top ranking institutions across the country, the average CTC (cost to company) of female candidates is higher than the pay packages of male candidates.
For instance, Faculty of Management Studies (FMS) in Delhi saw girls bag an average CTC of Rs. 20 lakh per annum, against Rs. 16 lakh for boys. The average pay packages offered to male students were Rs. 2-4 lakh in excess of the packages offered to girls till last year, according to a source. “The changing trend is only a testament of how women today have come to play a very important role in corporate world,” said the FMS spokesperson.
Indian companies listed on stock exchanges are facing a deadline to appoint at least one woman director to their boards. It seems companies are adopting a strategy of employing more women to build a strong talent pipeline of women for future roles.
“Surprisingly, now companies are focusing more on diversity in hiring in order to increase the percentage of female employees,” said BK Gupta, director, ITM University, Gurgaon. “An HR representative of a leading company mentioned that they are looking forward to an alignment with the government strategies for making women more empowered.”
Several colleges echoed similar trend. At IMT Ghaziabad, average package of female stood at Rs. 9.87 lakh against Rs. 9.21 lakh for males. At Indian School of Business (ISB) which has not completed the placement process yet, the trend seems to be a preference for women professionals, and higher pay packages.
Three Indian Institute of Management centres that HT contacted could not reply as they were awaiting their audited reports on placements by consultancy firm Crisil.