IIM-C domestic average salary up 13%

The Indian Institute of Management Calcutta (IIM-C) completed placements for 2004 with the average domestic salaries rising 13 per cent to Rs 7.05 lakh per annum and the median foreign salary was $70,000 (Rs 31.5 lakh).

In a release issued yesterday, IIM-C pointed out that the median domestic salary was Rs 6.5 lakh per annum and average domestic salary was Rs 7.05 lakh per annum, with the highest domestic salary offered being Rs 14 lakh.

Median foreign salary was $70,000, the highest offered being $1,20,000. There was a 26 per cent rise in the highest foreign salary offered on campus.

IIM-C said the batch size was 242, the largest across all premier business schools in the country.

Names like McKinsey, HSBC, Capital One, Citibank, ICICI, PricewaterhouseCoopers, Cognizant Technology Solutions, Unilever and Cadbury made their largest offers, reaffirming IIM-C's status as the most preferred campus for recruitment, said the release.

In all, 83 companies made a total of 332 offers. Some firms were unable to recruit as the entire batch had already been placed. The number of companies offering foreign jobs increased to 11 from seven last year.

In the lateral placement programme (LPP), for students with significant work experience, 23 firms made 58 offers, including for some positions abroad.

Among first time recruiters at IIM-C this year were Temasek Holdings, vCustomer, Virtusa, Amex Financial Advisors, Citifinancial, Daeyang Shipping, LNM and Reebok.

Companies that made a large number of offers on campus included PwC (19), Citibank, Cognizant Technology Solutions and ICICI Bank (17 each), HCL Technologies(12) and Onida (11).

The highlight of the placements this year was McKinsey making seven offers on campus, more than the number of offers made at any other school in India.