Click to play videoHyderbad/New Delhi: A student of the Indian School of Business (ISB) in Hyderabad has been offered an annual salary of Rs 1 crore, the highest ever at any business school in India.
An Indian company offered the $233,800-salary, announced ISB dean Ram Mohan Rao. The highest domestic salary offered is Rs 33.3 lakh and the average Indian salary works out to Rs 11.77 lakh.
An IIM Calcutta graduate won a pay pack of Rs 99 lakh per annum five years ago. That record now stands broken.
The placements at ISB mean that the Indian Institutes of Management (IIM) have got competition in the race to secure big pay packets for graduates.
Top corporates are now willing to pay ISB students salaries which are as good as that offered to IIM graduates and even better.
ISB officials are tightlipped about the pay packets and salary details are under wraps.
At least ISB five students have reportedly been offered an annual salary of Rs 88 lakh and 142 companies are competing to hire the 345 ISB gradutes this year. A formal announcement about placements will be made on Thursday.
"This year, with the economy doing very well, our students have drawn very good salaries. We're excited about this and so are the students," said Bhuvana Ramalingam, Corporate Communications Head at ISB.
Most ISB students have work experience of some years and this helps them in earning good salaries.
The placement season at IIMs got over recently and saw pay packets touching a high when London-based Barclays offered Rs 84 lakh to IIM Bangalore graduate Gaurav Agarwal. IIM-Ahmedabad saw salaries during placements increase to Rs 10.6 lakh per annum.
AVERAGE SALARIES | |||
| Institutes | 2006 | 2005 | % increase |
| IIM-A | 9.72 | 7.9 | 23 |
| IIM-B | 9 | 8.25 | 9 |
| IIM-C | 9.81 | 8.32 | 18 |
| IIM-L | 9.33 | 7.8 | 19 |
Highest foreign salaries | ||
| Institutes | 2006 (USD/annum) | 2005 (USD/annum) |
| IIM-A | 185000 | 152000 |
| IIM-B | 193000 | 120,000 |
| IIM-C | 152000 | 123000 |
| IIM-L | 75000 | 70,000 |
Highest Domestic salaries | ||
| Institutes | 2006 (In Lakhs/annum) | 2005 (In Lakhs/annum) |
| IIM-A | 34 | 14.5 |
| IIM-B | 30 | 15 |
| IIM-C | 23 | 16 |
| IIM-L | 16q | 14 |
| Trends | ||
| ||
PLACEMENT HISTORY OF ISB | ||||
| YEAR | Highest Offer | |||
Indian | International (In USD) | No of Cos. | Total Offers | |
| 2002 | 28 | 220,000 | 190 | |
| 2003 | 18 | 103,333 | 139 | 222 |
| 2004 | 20 | 151,000 | 144 | 273 |
| 2005 | 21.10 | 181,000 | 155 | 351 |
Source: http://isb.edu | ||||
(With inputs from Shaik Ahmed Ali and moneycontrol.com)
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