The Hindu : Karnataka / Bangalore News : More companies come looking for managers at IIM, Bangalore

Online edition of India's National Newspaper
Sunday, Mar 12, 2006

Karnataka

Karnataka - Bangalore

More companies come looking for managers at IIM, Bangalore

Staff Reporter

Barclays Capital offers the highest compensation package of $193,000

FUTURE MANAGERS: Anand Sankaranarayanan, Nidhi Gupta, Amitesh Rattan, Avyay Saxena, Amith N. Gandhi, Apurv Parashar, Gaurav Agarwal and Jayant Kumar were among the students of the Indian Institute of Management, Bangalore, who were selected by variou s companies during the first round of campus placements on Saturday. — Photo: K. Bhagya Prakash

Bangalore: There were more companies looking for recruits from about the same number of graduating students as last year in the first round of campus placements that concluded on Saturday at the Indian Institute of Management, Bangalore.

The highest compensation package of $193,000 was offered by Barclays Capital, the U.K.-based financial institution, to Gaurav Agarwal.

A 29-year-old who earlier studied at the Indian Institute of Technology, Kanpur, Gaurav said, "I earlier worked with TeraBlaze in the Silicon Valley, U.S., dealing with network chips. While with IIM, I went through a summer placement with Barclays and received an initial offer, which was clinched today."

He has been hired as an associate and will be involved with the global financial risk-management side. "The salary was not negotiated; I only wanted to know the job profile," he added.

Venktesan Shankararaman received the highest offer from an India-based multinational; he will be paid Rs. 30 lakh a year by the company operating in Mumbai. He has a B.Tech from IIT, Madras, and an MS from Ohio University.

Declined offers

Kunal Mihipal from St Xavier's, Mumbai, declined all offers because "I prefer to start my own venture, a line in lifestyle products targeted at the middle-income group."

Twenty-one companies were part of `Day Zero' as IIM calls it. These included 10 overseas investment banks such as Barclays, Goldman Sachs, Merrill Lynch, Layman Brothers, ABN-AMRO, UBS, J.P Morgan, HSBC and Paribas.

There were global firms such as McKinsey (nine hired), Bain and Co., Boston Consultancy Group, Ameriprise Financial, Deutsche Post, A.T. Kearney and Diamond Cluster.

There were also FMCG giants and conglomerates, including British Petroleum and Mittal Steel.

Placement Chairman Y.L.R. Moorthy said, "More companies are coming because of the booming economy and market trends and the consistency in performance by our alumni already placed. The good quality of candidates and the good relations we maintain with the firms who visit our campus each year are other reasons for the large turnout. We expect close to 100 companies to have visited when the placement rounds end on Monday."

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