GREAT INDIAN DOLLAR DREAM

IIM-C students banega crorepati

Posted: Tuesday, Mar 06, 2007 at 0132 hrs IST
Updated: Tuesday, Mar 06, 2007 at 0132 hrs IST

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Kolkata, Mar 5: The Indian Institute of Management, Calcutta (IIM-C) has spawned the first crorepatis in the current B-school recruitment season, with some scholars at Placements 2007 bagging offers in excess of $250,000 (over Rs 1.1 crore) for overseas jobs.

IIM-C, the oldest in the IIM family, said all records have been broken following the latest pre-placement offers (PPOs) for the 2005-07 batch. It had held the earlier record of $225,000 for a foreign posting, set in 2001.

Two students secured PPOs of $250,000 from a leading investment bank to man its New York desk. Another bagged an offer of £120,000 (Rs 1.05 crore) from an investment bank for its London desk.

A spokesman for the IIM-C students said not only were these offers the highest salaries offered across all B-school campuses in India, but they were also 50% higher than the average salaries offered at top US B-schools like Harvard, Stanford and Wharton.

The median of the salaries offered by investment banks and international consulting companies to the other students with PPOs was $120,000 (Rs 55 lakh). “These students have been picked up by the companies at which they did their summers last year,” said Sarfaraz Khimani, an external relations secretary at IIM-C.

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