Kerala - Kozhikode   

IIM-K's spectacular placement success this year

J.S. Bablu

75% of 2007 batch gets jobs with salaries over Rs.10 lakh

KOZHIKODE: `Placements 2007' has been spectacular for the Indian Institute of Management-Kozhikode (IIM-K) with the highest international offer increasing from $70,000 (Rs.31.5 lakh a year) last year to $1,10,000 (Rs.49.5 lakh) this year, a jump of nearly 57 per cent.

Also, 75 per cent of the batch has secured jobs with salaries of more than Rs.10 lakh. Another remarkable feature is the increase in the highest domestic pay, which stood at Rs.22 lakh per annum, a jump of 32 per cent over last year's Rs.16.67 lakh. This year 33 students have bagged offers of more than Rs.15 lakh.

Foreign recruitments are on the rise this year with 21 students bagging international offers for jobs in the U.S., Europe, West Asia and in countries in the Asia-Pacific. The highest international offer is $1,10,000, while the average salary is $85,000. Some of the firms that have recruited IIM-K students for international roles this year include Olam International, Infosys Technologies, Wipro Technologies, Patni Computers, Cognizant and the RPG Group. An interesting feature is that close to 20 per cent of the batch have given up a better paying job for a job of their choice, proving that students are not after salary. Also, one student has decided to start an entrepreneurial venture of marketing and distribution of high technology products. In all, 431 offers have been made by 88 participating companies to 155 students of the 2007 batch of IIM-K.

The average domestic salary has increased by 30.38 per cent over previous year's Rs.9.02 lakh to reach Rs.11.76 lakh. This year 34 new companies have made a beeline to the IIM-K campus for recruiting students. New recruiters include McKinsey & Co., KPMG, Accenture Business Consulting, Bank of America, JP Morgan Chase, Barclays Capital, HSBC, Goldman Sachs, Yes Bank, Google, Yahoo!, Colgate-Palmolive and Cadbury.

McKinsey & Co, which came to the campus for the first time this year, has recruited Jaidev Rajpal of IIM-K whose experience as a medical professional and civil servant assured him a higher designation than what has been offered by McKinsey & Co at other B-school campuses, an IIM-K release said.

Kulbhushan Balooni, Chairperson-Placements, IIM-K said: "The spectacular success of Placements 2007 is by no means a culmination of the breathtaking pace of growth that IIM-K has set over the past decade. Rather, it reflects the evolution of an institution that has grown by leaps and bounds to cement its place amongst the best business schools in the country." Over 25 per cent of the batch has opted for careers in consulting. One-third of the batch has chosen jobs in financial and banking sectors with financial software services Bloomberg and New York participating in the recruitment process for the first time in IIM-K. Citifinancial has recruited three students for the post of assistant vice-president, the highest number of offers across campuses for this post, according to the release.

The number of offers some of the companies made are Cognizant - 15 offers, JP Morgan Chase - 13 offers, Deloitte - 9 offers and Accenture Business Consulting - 5 offers.

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