Mumbai's B-School placement ends on a high note, highest package up by 14%

The highest annual salary package offered to a post graduate diploma in management (PGDM) student from the current batch of Bharatiya Vidya Bhavan’s S P Jain Institute of Management and Research stood at ₹53.16 lakh per annum this year.

The highest annual salary package offered to a post graduate diploma in management (PGDM) student from the current batch of Bharatiya Vidya Bhavan’s S P Jain Institute of Management and Research stood at ₹53.16 lakh per annum this year, a 14% increase compared to last year. The average salary offered to the 2021-22 batch too has witnessed a 23% increase compared to 2020-21.

The average salary offered to the 2021-22 batch too has witnessed a 23% increase compared to 2020-21. (Arun Sharma / HT file photo)

The highest package received by a student of the previous batch was ₹44 lakh whereas the highest salary package offered to a student in 2020 and 2019 were ₹51 lakh and ₹46.5 lakh, respectively.

"With the increasing intake by the consulting companies, offers were rolled out to 91 students, the highest ever reported by SPJIMR for a batch. The FMCG sector was also a major recruiter and made offers to over 22 per cent of the batch and this was closely followed by offers in the Private Equity, BFSI, Tech and E-commerce sectors," said a statement released by the institute on Thursday.

The average annual salary this year stands at ₹32.05 lakhs per annum while the median annual salary stands at ₹30.10 lakhs per annum, with over 30% of the batch securing offers in excess of ₹35 lakhs per annum, and over 87% in excess of ₹25 lakhs per annum, highlighted the institute’s placement report.

“We faced special challenges this placement session particularly as the institute re-opened and then closed again with the third wave of the pandemic. Our teams readjusted quickly, the students came together and as a team we ensured that the season's performance was one of the best we have seen in recent times,” said Prof Abbasali Gabula, associate director-external relations, SPJIMR.