The country’s premier business schools are gearing up for the placement season next month amid much anticipation that the class of 2010 will fetch higher salaries than its predecessor in 2009, whose members were placed at a time when the downturn was at its worst.
According to a survey by market research firm The Nielsen Company, the average salary expectation this year in the country’s major business schools is about Rs 14.6 lakh per annum.
This is 13 per cent higher than average salary of Rs 13 lakh per annum for a domestic offer made to the batch of 2009 in the prestigious Indian Institutes of Management (IIM).
“The average salaries this year will be significantly higher than 2009,” Hariharan Sriram, secretary, external relations at IIM Calcutta, told HT.
A slew of recent data have raised prospects that the worst might be over for the Indian economy. Industrial output grew by 11.7 per cent in November, the highest in two years. This has triggered companies to resume expansion plans.
Top companies such as BNP Paribas, Barclays Bank, TCS, Citibank, Infosys, and Procter and Gamble have confirmed participation in this year’s campus placement programmes of the leading business schools.
“This time we are planning to hire in large numbers from B-schools,” a Citibank spokes-person said.
“We plan to make 15,000 campus hirings in 2010-11,” Infosys CEO S. Gopalakrishnan told HT.
A note of caution: this year’s average salaries may still be below the levels of Rs 16 lakh per annum clocked in 2008.