IIFT records international salary of USD 100,000

Mumbai, Feb 1 (UNI) In an outstanding achievement, the graduating batch of International Business of The Indian Institute of Foreign Trade (IIFT), witnessed a record high in 'Placement 2007', with an annual domestic and international salary of Rs 16 lakh and USD 100,000, respectively.

There is an average increase of 20 per cent from last year's placement salary figures. The placement process has witnessed students preferring domestic profiles. The banking and financial services have been the major recruiters and the new emerging sectors are retail and real estate, a release here today said.

The comparative data for the last three years shows a significant increase in the salary packages. This year, the average has increased by about 20 per cent as compared to 8.1 lakh in 2006 and 7.28 lakh per annum in 2005. The highest individual salary in 2006 was 10.6 lakh per annum, in 2005, it was 9.5 lakh per annum and this year it has touched the 16 lakh mark.

The placement started with less than the full strength as 20 per cent of the batch had already received pre-placement offers (PPO's) well before the placement week started. The placements witnessed a vast interest of companies from different sectors Like FMCG, Banking, Consulting, IT, Pharmaceutical, Trading and Logistics.

Leaders like Lehman Brothers, Standard Chartered Bank, Citibank, SAB Miller, UTI, Bharti, DTZ, Olam International, Backes&Strauss, Colgate - Palmolive, ITC, Nestle, Dabur, ICICI, SBI, Infosys, Accenture, IBM, AWB, CSC, Cognizant, Yes Bank and HCL were present to recruit the best. A total of 80 companies were present to recruit around 115 candidates. 60 per cent of the recruiters participating are new to the IIFT placement process.

Munish Bharagava - Corporate and Placement Advisor, IIFT said on the occasion ''It is a very promising trend to see a substantial increase in all sectors especially in the FMCG and the Banking sector. The highlight of this year's placement is that it has broken all previous records and the students have been satisfied with their placements.'' UNI