Top B-schools witness about 15% more pay than last year
With more and more companies showing interest in campus hiring this year, B-schools witnessed a strong demand for their students, as per the latest Mint report. Companies that showed up for this year’s summer placement offered 10-15 percent more salaries than the previous year, beginning this year’s campus hiring season on a positive note.
Functions like consulting, sales and marketing, consumer durables, and financial firms lead the pack with a majority of the placements in these areas.
Uday Damodaran, a professor and chairperson of placement at XLRI shared, “Consulting firms are a key driver of XLRI’s campus placement with some hiring more than 10 students.”
For XLRI, Boston Consulting Group was the top recruiter with 13 offers and for IIM-Lucknow, some of the top recruiters included Accenture Management Consulting, McKinsey & Co., Aditya Birla Group, Amazon, Hindustan Unilever Ltd and ITC Ltd.
Becoming a key destination for hiring talent for consulting, marketing and financial roles, IIM- Lucknow placed 445 students in 140 companies as part of its summer placement. Out of these, Sales and consulting alone comprise half of the total offers made at the business school.
While companies struggle to find the right talent and bridge the skill gap, recently, many of them have displayed a positive sentiment for hiring freshers. A few days back, TCS reported to double the salary for fresh graduates with digital skills, and mid-tier IT companies like Mindtree, Zensar, Hexaware amongst others had also shared their plan to hire about 500-1,000 freshers in the upcoming recruitment drive for FY19.
Now, the increase in demand for graduates in top B-schools from companies across industries reiterates the positive hiring sentiment of employers.
Harivansh Chaturvedi, Director at BIMTECH share that both companies and B-Schools are taking summer placement seriously as it gives companies time to evaluate candidates to hire them permanently. He said, “Instead of coming for interviews again and again - it works as a springboard for assessing the capability of a candidate for jobs on offer.”
Months before the final placements start in business schools, the hiring sentiment captured in summer placements paints a good picture for the future. The professors at these B-schools believe that a robust summer placement indicates better final placement season.