The summer placement season in business schools has begun, and with a bang!
Recruiters are offering 15% to 20% higher salaries this year, and most schools have wrapped up the process within three days.
The offers are likely to go up further once the Indian Institutes of Management (IIMs) begin their placements, analysts tracking business schools said.
“We completed the summer placement of over 300 students in just two-and-a-half days,” said Kanwal Kapil, professor in charge of placements at Management Development Institute (MDI), Gurgaon.
XLRI Jamshedpur completed its summer placement in three days and New Delhi-based Indian Institute of Foreign Trade (IIFT) finished the process within four days.
The International Management Institute (IMI) in New Delhi, run by the RP-Sanjiv Goenka Group, also said it was almost through with the process.
Summer placements are a precursor to final campus placements and are indicative of the jobs environment in the country.
“We have seen a good number of companies hiring in double digits and that’s perhaps the reason why B-schools are completing the process faster,” said Pinaki Dasgupta, dean of placements at IMI. As many as 50 students of the 2015-17 batch have bagged pre-placement offers, up 37 from last year, he added.
The average salary package at the institute has risen 15% this year, said Dasgupta, similar to that at IIFT and Birla Institute of Management and Technology in Greater Noida.
{{/usCountry}}The average salary package at the institute has risen 15% this year, said Dasgupta, similar to that at IIFT and Birla Institute of Management and Technology in Greater Noida.
{{/usCountry}}At MDI, salaries offered were 20% more this time than the previous season.
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