IIM-B graduate scores top pay
After Ahmedabad and Lucknow, it?s the turn of IIM-Bangalore?s to make headlines, reports BR Srikanth.india Updated: Mar 12, 2006 11:11 IST
It's getting more and more unbelievable. The kind of moolah being offered to IIM grads during campus placements this year seems the stuff of fantasy as MNCs trip over each other trying to pick the best B-brains in the country.
After Ahmedabad and Lucknow, it’s the turn of IIM-Bangalore’s to make headlines. In fact, the institute bested its counterparts as Gaurav Agarwal walked away with a whopping $1,93,000 (Rs 85 lakh) annual package — the highest this year for any B-school graduate in the country — here on Saturday.
An unassuming Gaurav bagged an offer to work at British investment bank Barclays Capital’s global financial risk management desk in London. Two days ago, Barclays had offered an IIM-Ahmedabad graduate Rs 82.5 lakh.
“I worked with them (Barclays Capital) during the summer placement (internship). I bargained for more responsibility (during the campus interview). We don’t bargain for salaries (at IIMs),” the 29-year-old said. His decision to take a career break from a job in a chip manufacturing company in the US has paid handsome dividends. An electrical engineering graduate from IIT-Kanpur, Gaurav returned home for higher education and secured admission at IIM-Bangalore.
This year’s salary for an overseas position has spiralled by 61 per cent over the $1,20,000 package (Rs 54 lakh) offered by Lehman Brothers to management graduates from IIM-B last year.
At the ongoing campus interview, McKinsey and Co offered an annual package of Rs 30 lakh for a position in Mumbai to Venkatesh Shankararaman, who earlier studied at IIT Madras and Ohio State University. An IIM-Ahmedabad graduate got a Rs 32 lakh package while the highest offer to a graduate of IIM-Calcutta this year was Rs 14.5 lakh from Microsoft.
Of the 182 graduates who took part on day one of the placement season at IIM-B, 65 — mostly with engineering backgrounds — bagged plum offers from 21 firms including Goldman Sachs, BNP Paribas and Lehman Brothers.