Average domestic salaries at the Indian Institute of Management-Ahmedabad (IIM-A) are expected to be at least 20-30 per cent higher than those offered in 2009. They are likely to range between Rs 15 lakh and Rs 18 lakh (annual), sources indicated.
The final placement procedure is yet to conclude and the institute is expected to release the exact figures after this is done.
The year 2009, which was gripped in one of the worst global economic downturns, saw average domestic salaries plunge to Rs 12-14 lakh. The institute's average figure was Rs 12.17 lakh. This was a setback after 2008, when the institute saw average domestic salary at Rs 17.85 lakh, higher by 30 per cent as against the Rs 13.7 lakh in 2007.
"In 2010, the maximum hits for average domestic salary are between Rs 15 lakh and Rs 18 lakh so far. Some of the students are getting into the Rs 70-80 lakh salary package; however, the total number of such students would be in single-digit," sources claimed.
Marketing and FMCG (fast moving consumer goods) companies overtook financial and consultancy firms this time, they added. There has been increased activity from private sector banks and insurance companies. Multiple offers are more this year.
The new cohort-based placement process for the second year post-graduate programme (PGP) students, which began on February 13, comprise companies that offer similar roles, profiles, salaries, locations, etc. The new process allowed recruiters to interact with students for a longer duration.
IIM-A saw regular biggies like HSBC, CitiBank, Boston Consulting Group (BCG) and McKinsey & Co, with BCG and McKinsey making eight offers each, including pre-placement offers during Cluster 1.
Deloitte made 10 offers (including lateral offers) for consulting roles during Cluster 2. Other regular recruiters like Tata Administrative Services and Feedback Ventures offered general management and consulting roles and hired six students each. The campus also saw HUL, P&G, American Express, Standard Chartered and Nestle making several placement offers.
