Symbiosis Institute of Business Management (SIBM), the flagship B-School programme of Symbiosis University, has achieved a record year with 100% placement and increased compensation compared to the previous year.
Shrirang Altekar, director of SIBM, said that this year has been remarkable compared to the last, with the highest CTC reaching Rs 49 lakh, up from Rs 39 lakh last year. The average CTC for the 2024 placement was Rs 28.16 lakh, and the median CTC was Rs 25 lakh. Last year, the average CTC was Rs 26.77 lakh, and the median was Rs 24 lakh. The top 10% earned an average CTC of Rs 37.53 lakh, while the top 50% were at Rs 31.63 lakh.
They have placed 100% of the students and had to nudge companies that came in late to come earlier next year to have a pick of the best talent. “We were in a happy position and had to refuse companies that came in late,” Altekar said.
This year, 99 companies visited the campus, recruiting a total of 206 students. Nearly 96 students received pre-placement offers, while the rest were selected through campus placements or case competitions. SIBM aimed for 75-80% of students to receive pre-placement offers this year. Among the recruiters, 48 were legacy recruiters and 55 were new to the campus.
Altekar said that the 8,000-strong SIBM alumni network has played a significant role in the successful placements. The placement programme, driven by the students, began fairly early.
While recruitment by the IT sector was lower than in the previous year, it was more than compensated by other sectors such as manufacturing and automotive industry hiring. BFSI, e-commerce, consulting FMCG, healthcare, pharma, and retailers were the main recruiters, offering a plethora of roles to students. Industry found agility and flexibility in their students and they were found to be adaptable, Altekar said.
SIBM, ranked among the top 10 B-Schools in the country, has also experienced a successful year with its summer placements,” Atlekar remarked. “The highest summer internship stipend offered was Rs 4.5 lakh, with an average stipend of Rs 3.25 lakh and a median of Rs 3 lakh.
The companies participating in campus recruitment included Accenture, Amazon, Flipkart, JP Morgan Chase &co, Delloite, Bain & Company, Bajaj Finserv, Bajaj Auto, Barclays, BP, Britannia, Dr Reddy’s, Exide, HDFC Bank, CocaCola, P&G, Mondalez HSBC, ICICI Bank, Tata Capital, Tata Steel, Pidilite and Samsung among others.
Further, Atlekar said they had achieved a successful placement season in a challenging market, where many B-Schools faced difficulties. He noted that SIBM had outperformed many of the new IIMs.
According to MBAUniverse, a leading MBA portal that tracks MBA placements, MBA Placements 2024 had seen dips in average salary. MBA Placements 2024 is not the same smooth affair for IIMs and other top B-schools as it used to be, the portal has said.
While some B-schools have already concluded their placements for 2024, many other top institutions are yet to announce their results. According to MBAUniverse data, XLRI reported an 8.6% drop in average salary, while IIM Bodh Gaya also noted a decrease. In addition, IIM Indore’s average salary decreased from Rs 30.2 lakh last year to Rs 25 lakh this year. Similarly, IIM Lucknow saw a decrease from Rs 32.20 lakh to Rs 30 lakh on average. On the other hand, SPJIMR had a relatively stable year, with an average salary of Rs 33 lakh, as reported by the portal.