Global recruiters throng IIFT, $100,000 for top dog
As if ripping a leaf out of the IIMs, a top dog placement at IIFT went for $100,000 per annum, reports Meenal Dubey.india Updated: Jan 30, 2007 23:41 IST
Things have changed at New Delhi's Indian Institute of Foreign Trade (IIFT), which has over the years changed from being a stodgy school for export-oriented executives to a business school for a global talent hunt.
As if ripping a leaf out of the IIMs, a top dog placement at IIFT went for $100,000 per annum (that is approx Rs 45 lakhs) on Tuesday, an encore after last year.
However, in a sign of the times when some students heed calls of their hearts, one young woman chose to work in the rural sector, after the institute's placement drive saw a high of Rs 16 lakhs in domestic salaries. Last year, the highest domestic salary was much lower at Rs 10.6 lakhs.
The average salary for a recruit from the institute has shot up 20 percent from Rs 8.1 lakhs a year ago and Rs 7.28 lakhs in 2005, IIFT said in a statement.
What was clear was that Indian MBAs are no longer just for local employers.
Indian companies must now compete with the world's best names to hire locals.
The first timers at IIFT this time included global investment bank Lehman Brothers and German engineering firm Bosch besides General Electric, Citbank and beer brewer SAB Miller.
The brewer was also among top recruiters that included Hindustan Lever, ITC, Colgate Palmolive, Nestle, ICI Paints and Dabur, making fast moving consumer goods a key recruiter.
IT leaders including Infosys, HCL and IBM and telecoms players Bharti and Hutch were joined by Essar and Glenmark at the recruitments. Firms from the banking, finance and the increasingly fashionable retail sector were also keenly interested.
IIFT’s Corporate and Placement Advisor Munsih Bhargava said, "Indian business professionals are proving to be tough competitors for their foreign counterparts.
"The foreign recruiters told us that the positive attitude, assertiveness, team spirit, knowledge and the adaptability of Indian youngsters to any culture has impressed them the most. This is one of the significant reasons for their recruitment."
A sizeable share of 115 students were picked up, mostly by first-time recruiters at the institute who made up 60 per cent of the talent hunters.
"These days, the salaries offered by both national and international players is almost comparable. Besides, a new trend indicates that a significant number of students prefer to stay in India and enjoy the high salaries," Bhargava said.
Ruchika Khattar, who has opted to work in the rural marketing, said, "The company profile is the most defining factor in choosing a job. Salary considerations and other perks are secondary for us. A lot also depends on the job profile being offered."
Does that mean foreign postings or internships do not matter? Manik Dinas, who has opted for a Rs.16 lakh pay package with a leading company said, "This differs on an individual basis. A foreign training can take anything from a year to two years."
Email Meenal Dubey: firstname.lastname@example.org