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Lateral placement offers up at IIM-K

By J. S. Bablu

KOZHIKODE, MARCH 6. Several multinational companies (MNCs) and Indian firms have made more lateral (higher-than- entry level) placement offers and average salary this year than what was offered last year to the students of the Indian Institute of Management, Kozhikode (IIM-K) as the placement process ended at the State's premier B-school.

The average salary on offer was Rs. 6.35 lakhs this year as compared to Rs. 5.46 lakhs last year and the number of lateral placement offers has gone up from 40 per cent of the total offers last year to 56 per cent this year. The quantum of jobs for the 65 second year students of the two-year Post Graduate Programme (PGP) in Management last year was 1.20 jobs per student. This year, the quantum of jobs was 1.81 jobs per student for the 59 students of the PGP programme.

"Interestingly, many of the companies were requested to cancel their placement process as there were no students left for interview,'' according to the IIM-K placement chairperson, Ernesto Noronha. This was the sixth batch from the IIMK that would be undergoing the placement process ever since this B-school starting offering PGP in Management from 1997, he said.

Though the companies that came for the recruitment process this year were less compared to last year, they made more offers this year. Last year, 52 companies made 78 offers to the graduating batch of 65 students. This year, a whopping 107 offers were made by 45 companies to 59 students.

The other features of this year's placement offers include an average of highest 59 offers at Rs. 6.62 lakhs and median salary offer at Rs 5.8 lakhs.

The highest offer was made by an MNC, Computer Science Corporation (CSC), Indore that offered Rs. 10.4 lakhs to Narendra Wadhwani of Mumbai, who had confirmed the offer. He got the offer as project manager at the MNC, which has branches in the U.S. He had work experience in the IT field and the post of project manager is a lateral-level placement.

The second highest offer was also made by CSC to Jayant Dwaraknath to the tune of Rs. 9.5 lakhs. Mr. Dwaraknath, who had work experience, was offered the post of project manager, a lateral-level post. He had confirmed the offer.

The highest pre-placement offer (PPO) of Rs 8 lakhs was offered by General Electrical Capital International Services (GECIS), an MNC, to Gurwinder Singh Lamba. PPO was given to a student who had undergone a summer placement in the same company. Mr. Lamba had confirmed the offer on February 3 itself.

Information Technology, (IT) as it was last year, continued to be the biggest recruiter this year too, making 51 per cent of offers at the IIM-K. Last year, IT companies' offers constituted only 40 per cent of the total offers.

The first three companies offering the highest number of offers this year were the IT companies — Infosys (14 offers), Wipro Infotech (12) and Digital Global Soft (8). Infosys visited IIM-K for the first time this year.

As many as 20 first-time final placement recruiters made a beeline to the IIM-K for the placement process this year. A combined total of 41 first-time recruiters (both finals and summers) was the main feature of this year's placement process. They included Accenture, National Kidney Foundation of Singapore, Microsoft Corporation, AGS Morgan Stanley, IBM, Digital Globalsoft, Infosys, Wipro, ICI Limited and Cavinkare.

Also in the fray were regular recruiters like GE Capital, ICICI Bank, ABN Amro, Asian Paints, Godrej, TCS, Computer Science Corporation and the Aditya Birla Group. A total of 25 per cent of batch students this year had international work experience in five continents and 10 countries. They had worked in organisations like Shell, United Nations Peacekeeping Force, Citicorp and Merchant Navy or had assignments abroad for Indian organisations like Infosys, Wipro, ANZ IT, Tata Motors and RBI.

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