Average domestic salaries at the Indian Institute of Management, Ahmedabad (IIM-A), have grown 40 per cent to Rs 13.6 lakh, over Rs 9.7 lakh last year. Average international salaries have grown 25 per cent to $11,5,300.
The institute has not disclosed the highest individual package but declared the highest range of acceptances, which fall in the Rs 60 lakh to Rs 1 crore bracket for domestic placements and $2,25,000 to $3,00,000 for international placements. The institute also declined to reveal the name of the companies that made the highest offers.
The average lateral domestic salary increased 52 per cent to Rs 16.13 lakh a year. The minimum domestic salary was Rs 8 lakh and the minimum international salary was $31,800.
Out of the 235 students in the class of 2007, 11 students opted out to start their own ventures, which left 224 students to be placed this year. Eighty-six firms came to the campus, including leading investment banks and consulting firms such as Bain, BCG, Deutsche Bank, Lehman Brothers, McKinsey, and Merrill Lynch.
Lehman Brothers led the pack with 17 offers and 14 acceptances, Merrill Lynch made 15 offers and had 14 acceptances, and McKinsey made 13 offers and had 12 acceptances. Ten per cent of the recruiters on campus this year were first-timers. They included Blackstone Real Estate, Fischer Jordan, ING and Opera Solutions.
Lateral placements this year saw 153 offers being made by 38 firms, of which 28 were accepted. The average lateral salary accepted was Rs 16.13 lakh. The offers made also included 14 overseas offers, of which four were accepted. This year, 44 per cent of the students opted for finance, 30 per cent took up consulting offers, while the rest preferred offers in private equity, business development, sales, general management, IT, marketing, operations, retail and others.