Final Placements 2007 - IIM Ahmedabad
The final placements at IIM Ahmedabad were held in 3 slots of recruiting from 8 th March to 12 th March 2007. 235 students in the batch of 2007 were eligible for Placements 2007, which saw a total of 86 firms on campus. At the end of Slot Zero, there were only 95 students available for interviewing on Slot One, whereas the last day had only those students who were specifically targeting companies scheduled for Slot Two. A significant portion of the batch (around 60% or 140 students) had been placed or had opted out by the end of the much coveted Slot Zero of placements, which saw as many as 17 firms on campus. (94 were Slot Zero acceptances and the remaining 46 included entrepreneurs, Laterals/PPO acceptances and off campus acceptances). Refer to Table 1 for the batch profile of the IIMA batch of 2007, and to Table 2 for sector-wise distribution of jobs accepted by students.
Table 1: Batch Profile
Some leading investment banks and consulting firms such as Bain, BCG, Deutsche Bank, Lehman Brothers, McKinsey and Merrill Lynch continued their long-standing association with IIMA. The highest number of offers was given by Lehman Brothers (17 offers - 14 acceptances), Merrill Lynch (15 offers - 14 acceptances) and McKinsey (13 offers - 12 acceptances). Apart from that, firms such as Blackstone Real Estate, Fischer Jordan, ING, Opera Solutions and Value Partners were some of the new additions in Slot Zero this year.
Table 2: Sector-wise distribution of jobs accepted by students
A total of 63 students accepted international placements. Refer to Table 3 for the geographical distribution of jobs accepted by students.
Table 3: Geographical distribution of jobs accepted by students
Major (Retd) Devashish Chakravarty, the Coordinator of the Student Placement Committee said, “Even as international recruitment across campuses appeared to be going down in anticipation of a weakening in the markets, recruitments in IIMA bore out the fact that high quality of managers are essential irrespective of the business cycles.”
PPOs and Associate Offers
The start of the year saw a flurry of pre-placement offers (PPOs) from firms that students worked in during summers. As many as 81 students got PPOs this year, which is a reflection of the quality of IIMA grads working in various organizations.
There were 11 associate offers from investment banks and 12 associate offers from international consulting firms, 4 of which were made to students without work experience. All these offers were at par with those offered to Ivy League B-school graduates.
Professor Bakul Dholakia, Director of IIMA said, “This substantial elevation in job roles being offered at entry level in investment banks and consulting firms has been a sign of IIMA's fast-growing reputation as a global brand, which can now compete with the best B-schools in the world.”
Deutsche Bank, with 8 associate offers, was the largest recruiter at this level. Of these 23 offers, 8 were rejected in favour of entrepreneurship or other roles.
Growing preference for entrepreneurship
The past few years have seen a growing preference among students to reject attractive pay packages in order to make it on their own. This year, as many as 11 students from IIMA have either opted out of placements, or rejected job offers to start their own enterprise. This encouraging trend highlights the confidence IIMA students have in their abilities, and their penchant for taking risks. Two of these students rejected Associate offers in excess of Rs. 1 crore from investment banks to opt for starting off their own venture.
Prof. Piyush Sinha, Faculty Chairperson of the Placement Committee adds “Placements at IIM, Ahmedabad have confirmed that IIMA not only provides good education for entry level but also for middle level management as well as for entrepreneurs.”
Vishal Prabhukhanolkar, an up-and-coming entrepreneur, said “The number of students opting for entrepreneurship is increasing over the past few years, and why not? We get to work with the best minds in the country and also get mentorship from highly experienced and respected Professors. With the Indian economy booming and the ever-increasing opportunities available to students, this will ensure that IIMA is set to become a centre for entrepreneurship and nation-building.”
Gargi Agarwal, a budding social entrepreneur, said “I plan to work in the field of education. According to me, primary and secondary schooling in India has become very tiresome and unprofitable for students. The basic idea is to provide a healthy learning environment that will prepare children to face future challenges in every field. At IIMA I have learned the value of hard work and perseverance. It has helped me broaden my vision and build up an indomitable spirit.”
Growing preference for Indian locations
In what has been another growing trend, 11 students rejected foreign offers in order to take up offers from firms in India and to be a part of the Indian growth story. Jatin Mamtani, who rejected a pre-placement offer from a leading investment bank in order to join a reputed consulting firm in India, says, “ My strong motivation to work in the field of consulting due to the quality of work, range of opportunities and the variety that it offers inspired me to stay back in India and at the same time, be a part of great Indian growth story.”
Rise in salaries
The salaries offered to IIMA graduates have steadily increased over the past few years, and this year was no exception. Both domestic and international salaries increased substantially. The highest international acceptances ranged from $225,000 to $300,000 and the highest domestic acceptances ranged from Rs. 60 lakhs to Rs. 1 crore, depending on minimum and average bonuses. The minimum international salary was $31800 and the minimum domestic salary was Rs 8 lakhs p.a. The average entry level domestic salary increased by around 40% to INR 13.6 lakh per annum from INR 9.72 lakhs last year, while the international average stands at USD 115,300, a rise of around 25%. The average lateral domestic salary increased by 52% to a high INR 16.13 lakh per annum.
Lateral Placements at IIMA surpass past expectations
The Lateral Placements at IIMA for the batch of 2007 were held in the months January-March 2007. This year the lateral placements were characterised by the sheer diversity of jobs across sectors. The highlight of the placements was the highest domestic salaries ever achieved by B-school graduates. In the recently concluded process, as many as 153 offers were made by 38 firms to the eligible candidates, and 28 of them were accepted. The average laterals salary accepted was Rs. 16.13 lakhs p.a. The offers made also included 14 overseas offers, of which 4 were accepted.
A major highlight of the lateral placements has been the diversity of the job offerings for middle-management positions. This year saw involvement of a variety of firms offering roles in private equity, business development, sales, consulting, finance, general management, IT, marketing, operations, retail and strategy. Leading recruiters in these sectors which came for the first time were Cypress, Feedback Consulting and Standard Chartered Bank. Regular patrons like Booz Allen Hamilton, Arcelor-Mittal and TSMG also participated in lateral placements. Private equity firms such as Audax, Nexus and Sun also recruited laterally during Slot Zero of final placements. Conglomerates such as Alshaya, RPG, Essar and Reliance were also involved in laterals, picking up students for non-entry level positions.
Overall, the laterals process this year has reaffirmed the fact that IIM Ahmedabad has evolved into a favourable destination for a diverse set of recruiters across sectors and roles, which underscores its superior quality of students and their diversity.
Ashok Kantilal Shah
Public Relations Officer
Indian Institute of Management
Ahmedabad 380 015
Phone: +91-79- 2632 4889
Mobile: +91-98250 34889
email: ashokshah@iimahd.ernet.in
