Salaries surge 7%-20% in non-IIM business schools

Written by Kirtika Suneja | New Delhi | Updated: Apr 4 2012, 09:10am hrs
Salaries at premium non-IIM management schools in the country, like Faculty of Management Studies (FMS), Management Development Institute (MDI) and XLRI, Jamshedpur, have surged 7-20% this year compared to the previous year. These schools are also getting a greater number of offers from recruiters.

For instance, the highest international salary offered at MDI Gurgaon was R43 lakh per annum and the highest domestic salary was R20.80 lakh. The average annual MDI salary has risen by over 14% since last year to R14.28 lakh.

XLRI Jamshedpur saw an unprecedented 284 offers made to a batch of 235 students with the average domestic salary at R16.48 lakh a year and the median domestic salary at R15.5 lakh. Moreover, in line with previous years, global pharmaceuticals major Novartis AG made the highest international offer of $150,000.

Same is the case with Delhis FMS where, despite the uncertain economic environment, 96 companies made final offers at the largest-ever batch comprising 227 students with the average annual salary rising to R16.34 lakh, an increase of 6.1% over last year.

The Indian Institute of Foreign Trade completed 100% placement this year with international offers coming from Singapore, Switzerland, Germany, Dubai, Vietnam, Myanmar and Africa. The highest domestic offer was of R19 lakh per annum, up 22% from last year, and the overall average salary package was around R12.1 lakh a year.

At Mumbai-based NMIMS, the average compensation for the batch of 2012 stood at an annual R13.04 lakh, while the highest package offered rose to R30 lakh per annum. Out of 121 companies that participated in the process, a stellar 34% of the companies were new recruiters or firms that were returning to NMIMS after a hiatus. The increased intake did not deter the recruitment process, as the industry was delighted to tap a larger talent pool, said NMIMS School of Business Management dean Debashis Sanyal.