Four of top 5 US banks hire 25% of MBA students from IFMR business school

Despite the Coronavirus (Covid-19) pandemic, students of the 2-year MBA programme of the IFMR Graduate School of Business (IFMR-GSB), now part of Krea University, saw a good placement season and witnessed a 10 per cent growth in average salaries offered by finance, consulting and technology giants.

With over 80 per cent of the students already placed in the ongoing placement season, finance, consulting and technology companies have hired over 87 per cent of the students already placed. The full batch comprises 175 students.

In the past three years -- between 2017-18 and 2019-20 -- anywhere between 50 and 75 per cent of the students were placed in finance, consulting and technology companies in areas such as financial strategy, business management, risk management, data analytics, compliance and governance, and financial control.

IFMR-GSB said that one of the highlights of this year is that four of the Top 5 US Banks—JP Morgan Chase, Bank of America, Wells Fargo and Citi—have together hired over 40 students which is more than 25 per cent of the students placed till now.

The other highlight is that despite the pandemic, average salaries are up by about 10 per cent in hiring by finance, consulting and technology giants.

Ten of the largest companies have hired five or more students from IFMR-GSB. These include JP Morgan Chase, Wells Fargo, Societe Generale, Citi, Deloitte, IDFC First Bank, Accenture, Cognizant, Wipro and HCL Technologies. Other marquee recruiters include Barclays, Bank of America, Credit Suisse, HDFC Bank, EY, KPMG and Crisil.

“Technologies such as analytics and artificial intelligence, cyber forensics, robotics and blockchain are redefining the financial services landscape and experiential learning is becoming a key component of learning in the new context”, said Ramkumar Ramamoorthy, pro vice-chancellor for professional learning at Krea University.

Ramkumar Ramamoorthy

He added, IFMR-GSB is increasingly becoming the go-to institution for students wanting to build a career in technology-driven financial services in areas spanning strategy, operations, marketing, core finance as well as fintech and techfin.

Quoting McKinsey's recent report titled ‘India’s turning point’, he said next-generation financial services have the potential to add $335 billion to India’s GDP between now and 2030. This presents a huge opportunity for IFMR-GSB and its students in the upcoming years to shape this industry, both in India and globally, said Ramamoorthy, who is the former managing director of Cognizant India.

Krea University has attracted many leaders from theworld of finance such as N Vagul (founder of ICICI), Raghuram Rajan (former RBI governor), R Seshasayee (former chairman, IndusInd Bank and Ashok Leyland), Raghu Sundaram (dean of NYU Stern School of Business) and Rajiv Lochan (MD, Sundaram Finance).

It also has many other industry leaders including Anand Mahindra (Mahindra Group chairman), S Ramadorai, Kiran Majumdar Shaw (executive chairperson of Biocon Limited), Aditya Mittal (president of ArcelorMittal and Group CFO & CEO of ArcelorMittal Europe), P V Venkatarama Raja, Rajiv Memani, Anu Agha, Cyril Amarchand, Sajjan Jindal, and Dheeraj G Hinduja (chairman, Ashok Leyland) in its leadership team.

.	Average Salary [Finance + Consulting] (Rs in lakh)

 

Average Salary [Finance + Consulting + TechFin] (Rs in lakh)

2017-18

10.4 9.9

2018-19

10.3 10.2

2019-20

10.3 10.1

2020-21*

11.4 10.9