IIT Kharagpur grad gets $80,000 offer
IIT Kharagpur’s Vinod Gupta School of Management (VGSOM) has wrapped up Vantage 2008, its annual recruitment programme, on a high note with a 30% increase in the average compensation levels offered to the 121-strong batch, reports Sreeradha D Basu in Kolkata. The highest international compensation of $80,000 (Rs 32 lakh approximately) this time around beats last year’s Rs 13 lakh, with an increase of over 146%.
This huge jump can be attributed to the fact that it is the first time in IIT Kharagpur’s history that students have been allowed to take up foreign placements by companies. “We, in fact, had a documented policy of not allowing foreign placements. This was overturned last year,” GS Sinha, former IIT Kgp’s placement in-charge, said. “Since all the other IITs were already allowing this, we wanted it to happen at IIT-Kharagpur as well,” he added.
“Since we got the permission a bit late last year, the kind of active marketing that was required did not happen. This year, we plan to plug into our alumni network and scale up the process in a much bigger way,” said Prof Sinha.
The top domestic compensation this year came in at Rs 18 lakh per annum. While the domestic average stands at Rs 11.44 lakh pa, the median is an impressive Rs 10.32 lakh pa. The roles offered to students ran the gamut from global leadership, management consulting, investment banking, corporate planning & strategy, brand management and real-estate consulting to equity research, knowledge management, SCM consulting, treasury, risk management and product merchandising.
Around 30% of the batch bagged PPOs (pre-placement offers) from renowned names like Barclays Capital (Singapore), A&J Consulting (USA), Citigroup, Ernst & Young, PwC, ITC, RPG and Yahoo, following the six-month internships offered by VGSOM. First-time recruiters who thronged VGSOM included the likes of Lehman Brothers, Yes Bank, Knox Capital, Angel Broking, Schlumberger, Deloitte Consulting, Avalon Consulting, Eicher Consulting, MarketRx, Heinz, Bombay Dyeing, Maytas, i2 technologies and Reliance ADAG.
Consulting biggies like Pricewaterhouse Coopers, Ernst & Young, Accenture, Avalon, and Deloitte participated in the process along with niche consulting majors like Eicher Consulting, i2 technologies and Bristlecone (SCM Consulting), MarketRx and Headstrong.
More : economictimes.indiatimes.com