Bigger & better than ever before
VIKAS VASHISTHA laughed when asked what he was going to do with all the money that he has been assured of by JP Morgan, London, investment bankers. Surely, $75,000 (US dollars), around Rs 34 lakh per annum is a lot of money for someone who is just starting out on his career! His has been the highest salary in international placements this year at IIM-Lucknow. Obviously, Vikas is busy throwing and attending parties with backslaps, hugs and congratulations on and outside the premier management institute .india Updated: Mar 11, 2006 01:04 IST
VIKAS VASHISTHA laughed when asked what he was going to do with all the money that he has been assured of by JP Morgan, London, investment bankers. Surely, $75,000 (US dollars), around Rs 34 lakh per annum is a lot of money for someone who is just starting out on his career! His has been the highest salary in international placements this year at IIM-Lucknow.
Obviously, Vikas is busy throwing and attending parties with backslaps, hugs and congratulations on and outside the premier management institute where placements have been bigger and better than ever before this year. But, it’s not Vikas alone whose wallet and bank account(s)! would get considerably bigger!
For, there are are Mridul Arora and Deepak too, who have got the highest salary in Indian placements. Starting salary? A cool, Rs 16 lakh!
Again, they are not the only ones. For there are scores of others whose starting salaries with cream companies are something that most students of their age could only dream of. Virtually everyone has got a dream job with dream salaries and profiles. With the sensex on an all-time high and consequently a booming economy, IIM-L had gone in for the placements with an air of optimism.
This optimism crystalised into reality at the end of slot three with the ‘hallowed mark of hundred percent recruitments’ being achieved rather ‘effortlessly’ in under-three days. What’s more, this year the first batch of Agri Business Management students also passed out with flying colours with recruiters like Reliance, ITC, Infosys, Murugappa Group etc lapping the students up.
Students were in a ‘party mode’ when mediapersons reached the campus for getting facts and figures about IIM-L’s placement details.
Most were already out in the city and those who had stayed back for the customary briefing before the media too, had plans to rush to the city for ‘one helluva fun’ just before setting out on their highly-promising, rewarding but demanding careers. As soon as a jubilant Prof Pankaj Kumar, chairman, Placements, at IIM-L shared the placement details with the media, two key trends were readily noticeable. A noticeable spurt in the coveted consulting and investment banking jobs that were offered on the campus and the fact that several IIM students were so high on confidence that they actually opted out of the placements to start an organisation of their own.
Nine students, including the batch topper, Jaya Jha, signed out of the placements to start an independent venture.
The placements that took place too reflected the confidence that IIM students under the guidance of IIM-L director Professor Devi Singh and their chairman placements, Prof Pankaj Kumar had acquired. The pre-placement offers awarded by various companies to summer interns were around 30 this year, a sizeable jump from last year’s tally. This year, a record 105 offers, against 65 last year, were received for the Higher Entry Placement Programme (HEPP) by companies. HEPP offers are given to students with work experience.
How excited the companies were about IIM students is also borne by the fact that a whopping 491 offers were made to 249 students who participated in the placement process. Coveted consultancy firms like Mckinsey and Co, Ernst and Young, Accenture, Deloitte Consulting, KPMG, Pricewater House Coopers, TSMG and Bristlecone made a beeline to the IIM-L campus to recruit the students. The best organisations in the banking and finance sector too sent their representatives to attract the IIM-L students. Thus, there were Baring Private Equity Partners, Lehman Brothers, Edelwiess Capital, Morgan Stanley, JP Morgan, BRICS Securities, Citi Group etc among a host of others on the campus. Top recruiters in sales and marketing like P&G, HLL, Johnson and Johnson, Nestle etc “We were almost through with our placements after slot 2 only. Slot 3 had to be taken simply because certain students wanted to test out companies in IT and ITeS,” said Prof Pankaj.