IIM-A placements: Highest pay pack offer touches over one crore mark

Ahmedabad, Mar 13 (UNI) It is raining millions at the Indian Institute of Management, Ahmedabad, as eleven of its students were given the highest offer of salary in the range of 225,000 USD to 300,000 USD, during the placements for 2007.

This reflected a 20 per cent increase from highest salary package (185,000 USD) offered during the placements last year.

Two of the premium 225,000 USD (over Rs one crore) offers were rejected, as the candidates opted to start their own enterprises.

Giving details about the placements, IIM-A director Bakul Dholakia said a total of 63 out of the 224 students available for placements went in for international assignments. As many as 11 students had opted out of placements or rejected job offers to become entrepreneurs. Last year, six students had opted out of final placements.

There has been a surge in the domestic salary package as well, as students got offers in the range of Rs 60 lakh to one crore, as against a maximum of Rs 34 lakh offered last year, he said at a press conference, a day after placements drew to a close.

The salary range reflects the figure which includes the bonus, he explained. The base salary includes the joining bonus too.

There has been a 40 per cent hike in the average domestic salary from Rs 9.7 lakh to 13.6 lakh while the international average salary rise was by 25 percent, as it went upto 115,300 USD.

An estimated 124 companies visited the campus with 38 making lateral offers. Around ten per cent were new recruiters.

Leading investment banks, consulting firms such as Bain, BCG, Deutsche Bank, Lehman Brothers, McKinsey and Merrill Lynch were among others who participated in the process. Public sector presence was minimal with just SEBI and Air India taking part in the placements.

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