Thursday, 04 March, 2010
Chennai: Placements in business schools across India are in full swing. But unlike last year, when students were unsure about their job and salary prospects, there is a definite buoyancy this time around. Though the schools have just begun the placement process, they are already seeing an increase in the salaries on offer.

“The packages have seen a 20-25% increase as compared to last year,” said Prof Paneer Selvam, placement co-ordinator with Chennai Business School (CBS). Prof S Ganapathy, head of placement and external relations at the Institute for Financial Management and Research (IFMR), agrees. “Salaries are up by 20% or so,” said Ganapathy, adding that “though the placement scenario has improved in comparison to last year, it is not as good as in the previous years.” The average salary on offer for a student of the Loyola Institute of Business Administration (LIBA) is around Rs 8 lakh as compared to Rs 6 lakh last year. In 2007, the average salary was Rs 7.75 lakh. According to a report by Hewitt Associates, a firm focussing on human resources consulting, “The average salary rise for 2009 is 6.3%. The corresponding projection for 2010 is 9.2%.”

Prof S Sriram, executive director, Great Lakes Institute of Management, said job offers and salaries were better than last year but not like the 2006-2007 levels. IIM-Ahmedabad said they would release a detailed report once the placement process is finished in the second week of March.

Manufacturing, banking, financial services and insurance and FMCG are the biggest recruiters this year. “Recruitment from the IT sector has dipped slightly as compared to last year,” said Prof M Sankaran, placement officer, Bharathidasan Institute of Management, Tiruchi.