Allaying apprehensions that a worsening global economy will keep multinational recruiters away this academic year; two Indian Institutes of Management (IIMs) and Hyderabad-based Indian School of Business (ISB) have received at least five offers of over Rs 1 crore, raising confidence levels. Deutsche Bank has given pre-placement offers to three IIM students so far, one more than the number it recruited last year. Swiss pharma multinational Novartis has hired two students from ISB this year, paying them dollar salaries which cross Rs 1 crore. Novartis, an ISB regular, is learnt to have offered $120,000 as salary and $70,000 as bonus to the two ISB students, who will be hired as financial analysts attached to the CFO's office in Basel.
The placement season is still two months away, but a few foreign recruiters prefer to hire towards the year-end. Hiring of fresh MBAs suffered in 2009 in the aftermath of the global financial crisis, when investment banks known for top-order salaries kept off B-schools. Campus salaries are considered to be the main differentiator while deciding the B-school pecking order.
Source: The Economic Times