SPJIMR’s highest salary package drops by 14% in online placements

The highest annual salary package offered to a post-graduate diploma in management (PGDM) student from the current batch at Bharatiya Vidya Bhavan’s SP Jain Institute of Management and Research (SPJIMR) stood at ₹44 lakh per annum this year, a 13.75% drop compared to last year.

The highest package received by a student of the 2020 PGDM batch was ₹51 lakh, whereas the year before that, the highest package received stood at ₹46.5 lakh. This year, the entire placement process was conducted virtually and in a record two days, said officials from the institute.

The average annual salary offer this year stands at ₹25.86 lakh per annum, while the median annual salary package stands at ₹25 lakh per annum, with over 26% of the batch securing offers in excess of ₹30 lakh per annum. Over 80% of the batch earned offers in excess of ₹20 lakh per annum, highlighted the institute’s placement report.

“Consulting emerged this year as the top recruiting sector, with offers rolled out to 36% of the batch of 233 participants. The FMCG (Fast-moving consumer goods) sector continued to be a major recruiter, making offers to close to 18% of the batch. This was closely followed by offers in the banking, financial services and insurance (BFSI) and e-commerce sectors,” said a statement released by the institute on Friday evening.

The institute further highlighted that despite the challenges brought on by the pandemic, around 50% of the batch bagged pre-placement offers (PPOs) through the autumn internship and corporate competitions. In all, 131 companies participated in the placement process this year, including 75 first-time recruiters.

“What looked like a particularly difficult season, harking back to the times of the global financial crisis, has ended on a high. Despite the extremely challenging environment, we have maintained compensation at the levels achieved last year,” said Abbasali Gabula, professor and associate director, external relations, SPJIMR.