B-school ISB graduates get record salaries
Hyderabad: The Class of 2007 of the premier Indian School of Business (ISB) has attracted record salaries; with the top international offer being $269,000 (Rs.11.8 million) against the highest domestic offer of Rs.4.39 million, it was announced here Tuesday.
The average international salary was $135,000 and the average domestic salary 1.50 million. Interestingly, a large number of students opted for domestic jobs.
"The placement results for 2007 have been outstanding," ISB dean M. Rammohan Rao said.
"There has been a sharp increase in the CTC (cost-to-company) levels and our students have shown immense confidence in making choices that suit long term career prospects over immediate salaries," he added.
The Class of 2007 completed the one-year intensive Post Graduate Programme in Management April 7. Of the 416 students in the class, 414 participated in the placement process that concluded Tuesday and, among them, received 584 offers from over 200 companies that visited the campus during the last few months.
The Class of 2008 will commence April 15.
"The high CTC levels demonstrate the confidence that companies have in the high quality of the ISB's management talent," said Rao, even as he added a word of caution.
"We need to take a balanced view of international offers given by multinational companies. I urge everyone to use these figures in the proper context so that potential students may get the correct picture of what they can achieve in a management institution."
The Class of 2007 received offers from a variety of companies and industries.
The number of offers from the financial services sector more than doubled to 97, while a large number of offers continued to come from consulting companies.
Companies from several new sectors like real estate, oil and energy, media, manufacturing, micro-finance, education, and healthcare, as also NGOs, made offers to ISB graduates.
This year, for the first time in ISB's six-year history, a company recruited two groups of four-to-five students as core management teams to run stand-alone businesses.
These groups will have full responsibility of setting up the projects from ground zero and leading them to become a success.
"The company has offered students both CTC and equity stakes in the project, making it an exciting and attractive option for students with an entrepreneurial bent of mind," ISB deputy dean Ajit Rangnekar said.
The work experience of the students in the two groups ranges from two years to 11 years.
An interesting trend witnessed at the ISB was that a large number of students preferred domestic placements.
"Many ISB students come with international work experience. After a year of learning and exposure to global faculty and management practices, they are keen to develop careers in India," Rangnekar pointed out.
Often, those opting for international offers were observed to be discussing with the recruiters the possibilities of returning to India.
"Increasingly, job content and location are becoming top priorities for selecting an offer," Rangnekar said.
Meera Sridharan, for instance, has opted for a domestic offer after working in a multinational company in the US.
"Many of us look for challenging roles that give us the freedom for entrepreneurial expression. I was keen to be located in Chennai, near my family and I am happy that I got an offer from a company that had the flexibility to help me do so," she explained.
One of the unique platforms ISB provides is an opportunity for students to make career shifts. Thus, from the automobile industry to banking, from transportation to telecom, from being a doctor in the armed forces to a fund financing NGOs, the Class of 2007 has made several interesting career shifts.
"I had learnt and grown a lot during my career in the shipping industry but I needed to find new challenges," said Vijay Nehra, who has now moved to an FMCG (fast moving consumer goods) company.
"ISB changed my life. I got an excellent opportunity to refresh myself and find a new career that fulfils my ambitions and gives me a completely new perspective," Nehra added.
ISB is a research-oriented independent management institution that grooms future leaders for India and the world. Its association with the Kellogg School of Management, The Wharton School, and London Business School makes it a one-of-its-kind in Asia.
The school offers a one-year postgraduate programme; short-duration, high-powered executive education programmes for CEOs and senior executives; and a two-year research fellowship programme.
"The origins and distinctive research of our faculty members ensure that our programme content is contemporary and global in its perspective, and develops our students' understanding of modern management opportunities and challenges," dean Rao explained. (IANS)