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Slowing down of economy has robbed off the placement sheen at Xavier Institute of Management, Bhubaneswar (XIMB), one of the premier B Schools of the country, as the average annual salary offer for its flagship Postgraduate Diploma in Management - Business management (PGDM-BM) programme has seen meager 2.23 per cent rise compared to the last year.
The average annual compensation package of the students of 2012-14 batch stood at Rs 12.08 lakh for the stream, marginally up from Rs 11.81 lakh for the 2011-13 batch, even though the premier institute continued to record 100 per cent placement.
“Due to the slowdown, the companies ae holding up recruitments and probably are waiting for the elections to be over to kick start the hiring process. They are not hiring and increasing packages as they used to do before and are cautious. We are hopeful the market will open up after the elections,” said XIMB Director Paul Fernandes.
About 54 companies participated in the annual placement process, “Xuberance 2014”, to select students from PGDM (BM) stream, out of which 18 companies were new recruiters.
Three candidates from PGDM-BM and one from PGDM (Rural Management) have bagged international offers.
Consulting sector ruled the taste of students in campus placements as 38 per cent of students chose this sector. It was followed by sales and marketing (22 per cent), systems (19 per cent), and strategy and operations (eight per cent). Finance stream languished at the bottom of the hiring table accounting for only 13 per cent.
Jakarta based firm Kadence International offered the highest package of about $40,750 a year in global job category, while the highest domestic salary was Rs 18 lakh a year.
Apart from regular recruiters like Cognizant, Hindustan Coco Cola Beverages Private Limited , Deloitte , PwC, Dr Reddy’s , Tata Steel, new companies Accenture, HP, Hyundai, Axis Bank, Hero Motocorp came calling to the premier B School’s campus. Similarly, all the 59 outgoing students of 2012-14 batch of PGDM (HRM) are placed with an average annual compensation of Rs 10.07 lakh. The highest salary stood at Rs 18 lakh per annum offered by Godrej and median annual pay package was calculated at Rs 9.55 lakh.
The institute also recorded full placement for its Rural Management batch of 2012-14 with highest domestic and international salary touching Rs 11.1 lakh per annum and $40,000 per annum respectively. The average salary for the stream was Rs 6.21 lakh per year.
