IIMA Grad Bags Record-breaking International Offer at Placements 2006

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Annual Placements started at IIM Ahmedabad yesterday with officials from Top Companies, including foreign banks, having arrived at the campus.

16 firms were present at the IIMA campus on first day, usually referred to as Day Zero, to recruit from the best of India's talent. As usual, the big investment firms got the chance to recruit on Day Zero. These included Credit Suisse Boston, Deutsche Bank, Merrill Lynch, Lehman Brothers, McKinsey and Co, USB Warburg Pincus, Bain & Co, Barclays, ABN Amro Singapore, Barings Bank, Boston Consulting Group, Booz Allen Hamilton, BP Singapore, Citigroup and AT Kearney.

Initial unconfirmed reports convey that an IIMA student has bagged a record-breaking international offer of $185,000 from Barclays. An Investment Bank has also offered a domestic offer of more than Rs. 16 lakhs, which is higher than last year's highest salary of Rs 14.5 lakhs. But the highest domestic offer at IIMA is expected to be still bigger by the time placements finish.

Last year, a total of 477 job offers were made to 247 students in which the maximum international annual salary offered was USD 152,000 by HSBC, London, and the maximum domestic salary offered was Rs 14.5 lakhs by GECIS.

This year record offers have already been made at the IIM Kolkata, IIM Indore and IIM Kozhikode. And the scene looks no different at Ahmedabad. With a booming economy and the markets trading at an all-time high, the officials and students of IIM-A are predicting that the salary offers will touch a new level this year. Students' speculations indicate the average international salary in Day Zero to be more than USD 80,000 - 90,000 this year. Last year, it was around USD 70,000.

- by CoolAvenues Editorial Team