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This year, it's not just premier business schools such as the Indian Institutes of Management that are upbeat about placements. Mid- and low-rung business schools, too, are witnessing better placements than last year.
There has been a 10-15 per cent rise in average compensation by regular, as well as new recruiters at campuses. "Contrary to anticipation, the economy is picking up, especially sectors such as information technology/information technology-enabled services, manufacturing and finance. This has resulted in better placements for us, compared to last year. In fact, we expect to wrap up placements sooner than last year," says S Balasubramanian, director, GRG School of Management Studies in Coimbatore. At Rs 3.5 lakh a year, the institute has recorded a 10 per cent rise in the average cost-to-company (CTC) of recruiters. Among others, IDBI Bank, Federal Bank, Axis Bank, Mahindra and Reliance Retail have made placement offers at the institute.
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For the final-year students of post-graduate diploma in management (PGDM) at IFIM Business School, Bangalore, half the placement process is already over, with companies from the fast-moving consumer goods, banking, financial services and insurance; and logistics sectors, as well as a few e-commerce companies offering positions to the 140-strong batch. Here, the list of recruiters includes L&T Finance, Britannia Industries Ltd, Blue Dart, Berger Paints, KPMG, Dell, Bosch, IndusInd Bank and Orient Cements. The highest package this year - Rs 14.5 lakh a year - was offered by Dubai-based Barakat Vegetables & Fruits.
"This year, there are several start-up and e-commerce companies at IFIM, and these will visit the school in the coming weeks. The general mood among our students is entrepreneurship in the long run and these companies offer the right platform for them to acquire the skills to become successful entrepreneurs," says S R Mohan, director, Centre for Continuous Employability, IFIM Business School.
At Rs 5.4 lakh a year, PSG Institute of Management, Coimbatore, has seen a 10 per cent rise in the average CTC being offered, against Rs 4.9 lakh a year last year. Companies that participated in the placement process included TCS, HCL, Cafe Coffee Day, ICICI, Citi Bank and Asian Paints.
PSG expects to place about a 100 of its 180 students by next week.
The rise in salaries is not the only noticeable trend. The large number of start-ups and e-commerce companies, which offer jobs with 'high learning curves', has attracted students at smaller business schools.
Umesh Chandrasekhar, professor in-charge (placements), PSG Institute of Management, says, "There has been a perceptible shift in thinking among students towards taking jobs where learning is more. At least 20 per cent of our students gave up high-paying jobs in favour of those offered by start-ups and new age sectors such as e-commerce, as these offered a high learning curve and quicker growth within organisations."
Also, an increasing number of students are considering to set up businesses of their own. IFIM expects a number of its students to opt out of placements to start entrepreneurial ventures.
At K J Somaiya Institute of Management Studies and Research (SIMSR), Mumbai, about three quarters of the 480-strong batch pursuing PGDM and master of management studies have been placed. Girish Salve, head (external relationships), SIMSR, said, "Despite the slump, this has been possible because of our active team. Information technology and banking & financial services companies have employed the most. Not many companies from the manufacturing sector have visited the campus this year."
He adds the highest domestic package offered at the institute is Rs 15 lakh a year, while highest international package is Rs 25 lakh a year.
