Not a single student of the post graduate programme for executives at the Indian Institute of Management-Calcutta (IIM-C) has got overseas placement this year, thanks to the adverse economic condition prevailing worldwide.
"The global nature of the downturn got reflected and there were no foreign placements this year," a statement from the IIM-C said in Kolkata on Monday.
Last year, six students accepted international jobs that averaged an annual pay of $120,750, while the highest offer came at $200,000 a year.
The average salary dropped 10 per cent this year to Rs 18 lakh from Rs 20 lakh last year. "The highest domestic salary saw a steeper drop - falling to Rs 35 lakh from Rs 45 lakh last year," the statement said.
Last year about 53 per cent of the jobs on offer were in the IT and IT enabled services (ITeS) sector. In 2009, the IT and ITeS sector accounted for only 22 per cent job offers, while the sales and marketing industry accounted for 22 percent.
Among the companies that visited the IIM-C campus for placement were: McKinsey and Co, Deloitte and IBM Consulting in the consultancy sector, Tata Consultancy Services (TCS) and Tech Mahindra from the IT industry and Avaya and Tata Teleservices from the telecom sphere.