New Delhi: At a time, when the whopping salary packages (touching crores) of Indian Institute of Management (IIM) students are being reported by the media, a sense of déjà vu pervades at the seven campuses of the prestigious management institute. Here comes the reality check: IIM Ahmedabad (IIM-A) student was reported to have bagged an offer for Rs 1.4 crore two weeks ago and a British investment bank offered an IIM Calcutta (IIM-C) graduate a salary package of Rs 1.6 crore per annum.
On the other hand, Saral Mukherjee, Placement Chief at the IIM-A, alleges that the ‘astronomical salaries’ reported by the media are ‘way too over the top’ and that the readers are being ‘fed garbage’. It is learnt that in reality, the average salary package offered by international banks at the IIM placement season this year was in the range of Rs 12-20 lakh per annum. On the other hand, private sector banks have offered just over Rs 9 lakh for IIM graduates, this year.
It is also learnt that the top 30% of the graduates have been offered salary packages ranging between Rs 12 lakh and Rs 15 lakh, while the next 40% have been offered salaries in the range of Rs 8- 12 lakh and the rest of the 30% have got offers between Rs 5-8 lakh. Reports say that Citibank and Standard Chartered – two major foreign recruiters – have offered packages ranging from Rs 10 lakh to Rs 20 lakh, while Fast Moving Consumer Goods (FMCG) companies have come up with Rs 14 lakh per annum, for the IIM graduates, this placement season.