IIMK, the fastest growing IIM in India today, successfully placed its largest ever batch of 290 students, in some of the most coveted profiles across industries. The outgoing batch was 16 per cent larger than previous year’s batch of 250 and 56 per cent larger than the 2009 batch of 185.
A total of 110 firms participated in the Placement process this year. The participating firms included the who’s who from the corporate world – prominent financial institutions and consultancy firms, the biggest FMCG and consumer durable companies, fast growing commodity trading companies, India’s largest conglomerates and globally renowned IT firms. PSUs and NGOs provided the much sorted diversity to students keen on getting an opportunity to serve in the government and social organisations. A few students also decided to join start-ups, and a few bold students opted for the Placement Holiday facility; seeking to ignite the entrepreneurial streak in them by starting their own ventures.
Deloitte and ICICI Bank were the largest recruiters at the Institute with each making a whopping 16 offers. The highest International package of USD 150,000 was offered by a commodities trading company while the highest domestic compensation of Rs 32 lakh was offered by a Europe-based Investment Bank.
Highest Salary across Sectors
Offers per company on the rise
Continuing with the initiative taken last year of spreading the placement process over a few weeks instead of days, IIMK gave the recruiters more time to conduct the process and the students the opportunity to make informed choices. The final placement process followed the day-based system of slotting companies and was completed in a month. In the interim the placement process had been suspended for a total duration of a week to accommodate the national-level HR & Leadership Symposium at the Institute and the students’ examinations.
“The professional manner in which the recruitment process was conducted is highly commendable. It was well planned and coordinated. There were no delays and waiting. The placement team was very cooperative and understanding. We had a good time at the campus” said Jays Chandy from Madura F&L.
As a testimonial of the return of the Industry to high-growth rates and also to the continuously improving quality of candidates at the IIM Kozhikode, the number of offers per company experienced a significant jump, with only 110 firms needed to place the entire batch. The average number of offers per company has gone up from 2.66 last year to 3.43 in 2010-11.
Number of offers per company participating in the final placements
Finance continued to emerge as the most preferred vertical amongst students with about 33 per cent of the batch taking up roles in Finance. More than 26 per cent of the batch took up roles in the marketing and operations verticals, while 24 per cent of the students chose to take up profiles offering consulting roles. About 8 per cent of the batch took up general management roles in major conglomerates, commodity trading houses and other companies. Among other key verticals chosen, 7 per cent students chose IT roles while 3 per cent opted for HR roles.
Percentage break up of jobs across sectors over the years
Vertical Wise Break Up for year 2010-11
Average salary across sectors increases
The Institute has decided to release average and highest salaries on a sector-wise basis to provide the MBA aspirants a clearer picture about the employment opportunities that await them in the sector of their choice on graduating from the Institute.
While the average salary in the Consulting sector remained more or less constant there was a jump of 18 per cent in Indian Financial Institutions, 16 per cent in the IT sector, 15 per cent in the HR roles on offer, 10 per cent in the profiles offered by Foreign Financial Institutions and 10 per cent in FMCG companies. Average Salary figures for the General management and Operations verticals were not calculated last year but are included this year to give a clearer picture.
Average salary across sectors in 2011-10 and 2009-10
About 35 per cent of the recruiters at the Institute either participated in the placements for the first time or re-visited the Institute after a gap of at least two years. More than 80 jobs were offered by the new recruiters. These companies included 3M, ADAG, Airtel, Apollo Hospitals, Arvin Meritor, Cargo, CRISIL, Dolcera, EXL, Fujistu , Glenmark, HP, Idea, JDA, Lenovo, Madura F&L, MMTC, Mphasis, NDCEX, Suntec, Tally Solutions, Triton Group, Videocon, Wipro Consulting, etc. Niche Asset management firms like Nereus Capital also participated in the recruitment process.
“Our experience with IIM Kozhikode was excellent with the quality of candidates and the process. We were delighted to see absence of any pressure to take a decision on a student under time constraints. Not only I could talk to but also let other leadership team members talk to the candidates as ease. At the end, I am very confident of the decisions taken, even when we were hiring MBAs from campus for the first time. Will certainly increase our numbers next year”, said Anuj Kumar, Vice President, Human Resources, Fujitsu Consulting India.
Food commodities trading firm Triton Group, which recruited for the first time from an IIM picked up five students from IIM Kozhikode. Mr Vincent Fernandez, director of the company said that he was extremely satisfied with the efficiency with which the process was conducted and the quality of the students.
Distribution of New Recruiters in Final Placements 2011
The Placement Story – Vertical-wise
Finance continued to remain the top preference among students with more than 33% of the batch taking up roles ranging from Investment Banking, Corporate Finance, Corporate Banking, Risk Management, Equity Research and Retail Banking in Foreign and Indian Financial Institutions.
Foreign Financial Institutions:
The top recruiters among foreign banks were Nomura, Deutsche Bank, Bank of America Merrill Lynch, JPMorgan Chase, Standard Chartered, Goldman Sachs, HSBC, Citi, Arvin Meritor, Altisource and American Express. The highest compensation offered was Rs 32 lakh per annum (CTC) for a role in Mumbai by a Europe-based Investment Bank. The average salary for Foreign Financial Institutions was Rs 19.43 lakh.
Indian Financial Institutions:
As an attestation to the fact that Indian Financial Institutions are on a very high growth trajectory, ICICI Bank recruited a record 16 students from the Institute. Other prominent recruiters included Edelweiss, Axis Bank, Yes Bank, Indus Valley Partners, IDBI, Futures First, Irevna, Bajaj Allianz, SBI Capital etc. Companies like Hindustan Unilever, L&T, Airtel and Reliance Industries participated in the final placements offering roles in Corporate Finance. Rating agencies like CRISIL, ICRA and commodities derivative trading firms like NCDEX also recruited in large numbers. The average salary for Indian Financial firms was Rs 12.52 lakh.
Heavyweights in the sector like Mckinsey & Co, Accenture Business Consulting, Deloitte, PricewaterhouseCoopers, Cognizant Business Consulting, etc. participated in the process this year. Consulting roles were also offered by companies like Capgemini, AON Hewitt, Wipro Consulting, and MXV consulting among others. The average salary for this segment was Rs 14.42 lakh per annum. Deloitte was the largest recruiter among consulting firms this year with a total of 16 offers, while Cognizant Business Consulting was a close second with 14 offers.
Marketing and Operations:
The FMCG sector which predominantly offered roles in Sales & Marketing and Operations saw companies like HUL, P&G, ITC, Reckitt Benckiser, Marico, Hindustan Coca Cola Beverages (HCCB), Britannia, Kellogg’s and Colgate Palmolive among others, make offers to students.
In the broader marketing domain, firms such as Airtel, Asian Paints, J&J Medical, 3M, Glenmark, Pfizer, Raymond, Titan, Idea, Videocon, Panasonic, Tata Motors, Tata Steel, Wipro Consumer Care, Madura F&L, HP, BILT, JDA Consulting and Zee Learn made offers to several marketing and operations enthusiasts. The highest salary in an FMCG company was Rs 22 lakh while the average compensation was slightly more than Rs 12 lakh.
The percentage of students interested in General Management roles was found to increase significantly this year. Various companies including India’s largest conglomerates RIL and ADAG, and other companies like Mahindra & Mahindra, Cargo, Dolcera, LnT, Jindal, Olam International, Thomas Cook, Manipal Group and Triton Group offered roles in General Management.
Companies that participated in the placements process offering roles in the HR domain were Infosys, AON Hewitt Consulting and Apollo Hospitals. The average salary was around Rs 10.75 lakh for the HR roles offered.
IT companies and the Information Technology sector was back in business. The average salary in this sector was Rs 11.14 lakh per annum with prominent names from the IT domain including TCS, Wipro, IBM, Mindtree, Aricent, Capgemini, iGate, Fujitsu etc.
Senior Roles offered:
Firms such as Lenovo, Thomas Cook, EXL and Manipal Group offered senior managerial roles at the Institute. Very impressed with the quality of students, firms willingly extended Senior Managerial roles to a few candidates. A student with close to three years of work experience was offered the role of Executive Assistant to the Chairman and Managing Director by Fujitsu.
NGOs and Entrepreneurial streak:
Two students have opted for the placement holiday facility offered by the Institute in a bid to try and realise their dreams of being an entrepreneur by experimenting with starting their own business.
P Satya Mani Kumar, an MBBS student has decided to join an NGO, Healing Fields Foundation that works in the area of MicroHealth Insurance. This NGO caters to the bottom of the period and targets rural areas and urban slums and as a Program Manager, he is trying to improve the general health environment in this section of society.
For the Alma Mater:
The alumni network of the Institute, which is getting increasingly stronger by the year, had a big hand to play in ensuring participation from few of the best companies in the industry in the Placement process. Alumni from a lot of companies also made it a point to travel with the recruitment team to the Institute ensuring a smooth conductance of the placements process by the company.