IIM Mumbai placements: 10% rise in recruiters, 5% rise in average salaries

With 110 offers, the consulting sector continues to remain the biggest recruiter witnessing a 28.92 percent rise in recruitment on campus, compared to last year. This is followed by Manufacturing and Operations which includes FMCG and Pharma with 80 offers. The institute noted that the Pharma & Healthcare sector saw a remarkable 130 percent increase in offers, driven by the industry’s rapid growth and the increasing demand for healthcare innovation. Whereas sectors such as e-commerce and BFSI made 65 and 50 offers, respectively. The institute highlighted that e-commerce sector offers have risen by 47.73 percent, reflecting the boom in online shopping and digital-first business models. However, among the recruiters, Public Sector Undertakings (PSUs) were less than 5 percent of total offers. “Even as PSU offers were lesser than others, we saw PSUs such as ONGC visiting campus. Additionally, there was a slight decline in hiring by the IT sector, owing to overall market conditions. But there was marginal reduction in the number of offers in IT,” said Prof. Tiwari while adding that the successful transition to IIM Mumbai has led to remarkable placement outcomes.

This is IIM Mumbai batch, erstwhile National Institute for Training in Industrial Engineering (NITIE) which received the IIM status in August 2023. According to the institute, this transition of NITIE to IIM Mumbai has significantly boosted the institute’s placement outcomes. This is the second consecutive year of 100 percent placement at IIM Mumbai. There were a total of 480 students who were all placed successfully.

As per information shared by the institute, top recruiters included Accenture, which extended 41 offers with an average package of  Rs 45.37 lakh, followed by PwC India (18 offers) and PwC US Advisory (10 offers). Other leading companies such as Alvarez & Marsal, Of Business, Praxis Global Alliance, Vodafone Idea, Workday, and ZS also contributed to the expanded placement offerings. In addition to the consistent participation, more than 40 first-time recruiters joined the placement process this year.

Out of a little over 500 offers, 160 were Pre-Placement Offers (PPOs) which are essentially internships converted into placements. “This is because our Summer Internship Program (SIP) has been successful. Even this year, a total of 505 SIP offers are made recording 100 percent SIP placement. While Coca-Cola has offered the highest pay-package with Rs.5 lakh for two months, average salary offered under SIP at IIM Mumbai is Rs.2.51 lakh for two months. Top 50 percent of the candidates are drawing an average salary package of Rs.3.6 lakh for two months.”