ISB student offered annual pay of Rs 39 lakh

The Indian School of Business (ISB), Hyderabad, has so far seen the highest domestic job offer on its campus at Rs 39 lakh from a private equity firm, according to two recruiters familiar with the development.

The highest domestic offer made last year was of Rs 40 lakh. V K Menon, senior director, Career Advancement Services at ISB, declined to give any details regarding the final placements.

"The final placements process began over the weekend and two companies offered a package above Rs 30 lakh per annum," said a source familiar with the development.

ISB follows a rolling placement process, which will go on till May. It has kicked off its final placements.

Dean Ajit Rangnekar had last month told Business Standard the job market had improved and "we expect a good placement season this year. Early indications from the companies are good".

ISB has 577 students to place this year against 568 last year. The average international CTC last year was $129,275 and domestic CTC Rs 16.47 lakh.

The Parthenon Group, a global strategic advisory boutique, has made four placement offers of Rs 32 lakh per annum, with a signing bonus of Rs 3 lakh each. "We have been investing heavily in hiring the best resources for our Asian operations and also in their training & development in our Boston office," said Karan Khemka, partner (Asian Headquarters), The Parthenon Group.

Last year, 346 recruiting companies had registered with the B-school and a total of 541 offers were made.

ISB charges a fixed placement cost of Rs 3 lakh on the first and second days if a company makes more than two offers per student. On third and fourth days, the institute charges them Rs 2 lakh for the same criterion.

The institute has done away with the "one-offer" policy that it introduced for the cl-ass of 2009. "Its a two-offer policy now," an institute official said.

The placement scene this year looks good for the B-schools and engineering colleges. An increasing number of companies are visiting campuses across the nation this year, offering higher packages than previous years. These companies are also reaching the recruitment numbers they saw during the boom time in 2008.