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ISB student bags record Rs 1.04 cr package deal

Written by: Staff
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New Delhi, Apr 5 (UNI) For some its may be the burgeoning Sensex that shows India's growing might. But, for others it is the sky-rocketing salary packages for the country's MBA graduates that defines its booming economy.

Close on the heels of Indian Institute of Management Graduates getting record salary deals, Hyderabad-based Indian School of Business (ISB) today reported the highest international package of 233,800 dollars (Rs 1.04 crore).

Earlier, an IIM-Bangalore graduate secured a record annual placement of 193,000 dollars, surpassing the 185,000 dollar purse secured by a graduate from IIM-Ahmedabad.

''Surprisingly, the higgest international salary has been offered by an Indian technology company,'' ISB Deputy Dean Ajit Rangnekar said. He, however, declined to divulge the name of both the company and the student who has bagged the deal.

''India is becoming the preferred location for our MBA students as this is where all the action is'', he said adding ''in the next five years there is going to be a reverse brain drain with most MBAs choosing the home turf to International offers.'' Mr Rangnekar said four ISB students have bagged offers that have crossed the one crore mark.

Talking about the trend in placements for this year, Mr Rangnekar said, ''It is the Indian companies that have raised the bar significantly, offering international salaries to our students.'' The average international salary for ISB students stood at Rs 53.5 lakh, up 21 per cent over 2005, while the average Indian salary was Rs 11.77 lakh, 18 per cent more than last year.

''The highest Indian salary of Rs 30.33 lakh came from the Indian company HiTech,'' Mr Rangnekar said.

A total of 143 companies participated in the placement process and out of 328 students, 65 women were placed, representing 19 per cent of the total class of this year.

The offers varied over a range of sectors including Technology, Consulting, Finance, FMCG, Banking and Financial services, etc.

''This year we also had sectors like infrastructure, real estate, and media, making a mark at ISB.

UNI RA SR BD1509

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