Indian Undergraduate Colleges Witness Hiring Spree

BENGALURU: Country’s top undergraduate colleges are experiencing overwhelming offers from old and first time recruiters, who are offering high salaries of up to 28 percent this year, even though the top three IIMs are preparing themselves for placements later this year, reports Economic Times.

Recruiters are putting their faith and business sentiment on undergraduate institutions like St. Stephen’s, Lady Shri Ram College, and St Xavier’s, Mumbai. Companies are offering high packages up to 15 to 16.5 lakh per annum in 2014-15, which was approximately 10 to 14.7 lakh a year earlier.

The recruiters showing interest in these colleges are namely McKinsey & Co, Deutsche Bank, Nomura, Boston Consulting Group, Citibank, Bain & Co, Deloitte, PWC, Credit Suisse and AT Kearney among others.

It is really surprisingthat the average salaries offered at IIM Indore and IIM Kozhikode was 12 lakh last year. The average salaries that newer IIMs like Trichy, Raipur, Ranchi, Shillong, Rohtak saw last year were 9 lakh to 12 lakhs. Recruiters preferred fields like economics, mathematics, statistics and commerce.

Deutsche Bank has offered 16.5 lakh per annum to Delhi’s St. Stephen College which is the highest salary offered at any IIM, where the 2013-14 was average salary was 14.70 lakh offered by McKinsey & Co. In Mumbai, St. Xavier’s had highest salary offer of 16 lakh from 10 lakh of last year. The LSR college saw a rise in the number of offers—65 last year’s 48—and the reason behind that was, more students were interested in placements and many companies were coming up with luscious offers.

“Recognition of the intellectual caliber of our students, declaration of timely results due to autonomous status of the college leading to earlier joining can be some reasons for increase in placements,” said Roy Thomas, placement coordinator of St. Xavier’s Mumbai.

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