New Delhi: Politeness demands that one never ask a woman her age or a man his salary. Except in the month of March, when details of the number of zeros on paychecks of IIM grads became the stuff of dinner table conversation and national debate.
The Indian Institute of Management Bangalore broke all records and beat the other IIMs by getting the highest pay packet for an individual student in its annual placements in March this year.
Gaurav Agarwal of Kanpur secured placement from Barclays Capital with an annual salary of $193,000 (about Rs 86 lakh), thereby breaking the record of $185,000 secured by a graduate from IIM-Ahmedabad. Agarwal who has been an IIIT alumni got posted in London.
Overall, a total of 21 companies took part in the placement process of IIM Bangalore. The Biggies of global investment banking took to the hiring spree at the zero day.
- Goldman Sachs (London, New York)
- BNP Paribas (Hong Kong)
- Barclays Capital (London, New York, Hong Kong, and Singapore)
- Merrill Lynch (Hong Kong, Singapore)
- Lehman Brothers (New York, London, Tokyo, Hong Hong)
- Deutsche Bank (London)
- ABN AMRO (Hong Kong)
- UBS (Hong Kong, London)
- JP Morgan (London)
9.72
185000
Highest Domestic salaries | ||
| Institutes | 2006 (In Lakhs/annum) | 2005 (In Lakhs/annum) |
| IIM-A | 34 Besides the investment banks, the gravy train time included consulting giants. The consultants brigade was led by McKinsey, Bain and Co, Boston Consulting Group, Ameriprise Financials, Deutsche Post (USA, Germany and Singapore), AT Kearney and Diamond Cluster. "The numbers speak for the quality of students. The students were brilliant and we have recruited the highest number of candidates from here, among the three campuses," said Vikash Daga of McKinsey. As many as 182 students signed up for the process and by the end of Day Zero, 65 of them, comprising 34 per cent of the batch, were placed. McKinsey took nine recruits from the IIM-B, the highest among all IIMs this year. "IIM-B continues to be a favourite haunt of global recruiters. Our relationship with recruiters continues to grow stronger every year and the results are testament to the hard work of the placement committee and students," said IIM-B placements chairperson YLR Moorthi. The IIM-B's growing reputation of producing specialist students was underlined by the presence of private equity firms like Baring Private Equity Partners, news giant Bloomberg (New York) and conglomerates like British Petroleum (Singapore) and Mittal Steel. Last year, 78 companies had together made 328 offers at IIM-B. As far as the Indian companies were concerned, the line-up included FMCG behemoths like HLL, P&G, banking giants like Kotak and Citibank, and consultants like Accenture and KPMG joining the parade. ####
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ISB grad snaps up Rs 1-cr pay pack
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