Tuesday, Oct 21, 2014

Boom time for SP Jain students as placement salaries zoom

Written by Mihika Basu | Mumbai | Posted: March 7, 2014 3:05 am

Beating the market blues, final placements at the S P Jain Institute of Management and Research (SPJIMR) saw a seven per  cent increase in average annual salary at Rs 17.2 lakh and a 23 per cent hike in maximum salary at Rs 29.5 lakh. This year, 70 per cent of the batch comprising 228 students had offers of Rs 16 lakh and more, while 85 per cent were placed at a compensation of over Rs 13 lakh. In all, 101 companies participated in the campus placements this year, making 246 offers. Last year, with 206 offers, 97 companies hired from the campus and 175 students were part of the placement process.

“Despite a large batch and the economic slowdown, around 51 per  cent of the class of 2013 received pre-placement offers and pre-placement interviews through their autumn internships at top corporate houses, which included Axis Bank, Amazon, TAS, Microsoft, HUL, P&G, Asian Paints, Kraft, Colgate Palmolive, Dell, Citibank, General Electric, Flipkart, GSK, HCCB, Miebach Consulting and HSBC, among others. There were 51 new recruiters on campus this year, such as Cipla, HSBC, Bain and Co, Samsung and Mars among others,” said Professor Abbasali Gabula, deputy director, external relations and administration, SPJIMR.

Around 30 per  cent of the batch were placed in the IT sector. Companies like Microsoft, GE, Google, Amazon, Flipkart, HCL Tech, Cognizant and IBM offered diverse roles to the students, including product management, business development and technology consultation. This was followed by the FMCG sector, which saw sales and marketing and operations profiles being made at the management trainee levels and lateral levels too. Around 23 per cent of the batch were placed in this sector, which saw firms like HUL, P&G, Kraft, Philips, Mars and GSK, hiring from the campus.

“Strategy roles of mid office and front office were offered by top consulting firms like Deloitte US-India, Bain and Co, KPMG, E&Y, among others to 17 per cent of the batch. The market conditions, though not too strong, didn’t seem to dither recruiters in the financial services and banking sector from selecting good talent from our campus. Around 17 per cent of the batch opted for this sector and had choices of profiles like corporate and retail banking, corporate finance, investment banking and credit rating. The companies included Citibank, HSBC, Standard Chartered, Goldman Sachs, JPMC, ICRA and PepsiCo,” said Sonali Mehra, deputy chairperson, external relations, SPJIMR.

Eight international offers were made to the students by a consulting major. While last year, offers per student saw a ratio of 1.17, this year, it was 1.36. “It was an edgy time with the job market being slow and cautious. To add to that, we had scaled up our batch size to 228, so that was an additional challenge. But having a good standing in the market and our recruiters, helped overcome this issue,” said Mehra.

mihika.basu@expressindia.com

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