IIM-Calcutta (IIM-C) has completed its placements for PGDBM students of batch 2009-2011. Last year the average salary was Rs. 15.4 lakh per annum, but this year it witnessed a good jump and recorded an average salary of Rs. 17.6 lakh per annum this year.
Speaking to the media, IIM-C's Placements Chairperson Amit Dhiman, said, "There has been an upward revision in the overall salaries on offers across sectors this year, which has translated into an increase in salary packages on offer."
The process of auditing the salaries was carried out internally by a team of faculty member headed by Dhiman and took about a month and a half. The minimum salary offered was Rs. 7.5 lakh per annum, highest and the lower available among the three top IIMs- Ahmedabad, Bangalore and Calcutta.
Dhiman, however, denied telling the highest salary for the batch, and citied variable reason behind that. The students were offered the maximum salary in the finance and investment banking. Students of finance got better offers than students who were offered consultancy and marketing jobs.
Dhiman said, "While the range of absolute salaries for finance has gone up from Rs 30-50 lakh last year to about Rs 40-60 lakh this year, it would be tough to give out the exact highest salary, given the fact that the variable component involved in these packages could go up to 200 per cent of the total salary."
This year near about 31 per cent of students chosen for finance-based jobs, followed by consulting and marketing opted by 24 and 22 percent students, respectively.
IIM-C is the one institute which received the highest number of pre-placement offers across all IIMs. These offers include positions in international companies from countries such as New York, Singapore, Hong Kong and London.