April 2006

The Indian School of Business (ISB) has scripted a new success story with placements touching new highs for the Class of 2006. Four ISB graduates have bagged offers that have broken the USD 200,000 mark. While the highest salary offer recorded at the ISB is USD 233,800 (Rs. 1.04 crore approx.), the average international salary at USD 120,700 (Rs 53.5 lakhs) is a 21% jump over 2005. On the home turf, the highest domestic salary at the ISB this year stood at Rs. 30.33 lakhs while the average Indian salary is Rs.11.77 lakhs, reflecting an increase of 18% from last year.

The highlight of the placements was that the highest salary offer of USD 233,800 (Rs. 1.04 crore) was made by an Indian company. With the economy booming, this year saw a large number of Indian companies recruiting from the ISB.

The ISB Class of 2006 has 345 students, of which 328 participated in the Placements Process and over 145 companies visited the ISB for recruitments this year. The year also saw some new names like EDS, Tishman Spier, and others recruiting for the first time in India and at the ISB. Speaking on the occasion, Ajit Rangnekar, Deputy Dean, Indian School of Business, said, “The Placement results for 2006 have been extraordinary, surpassing all past performances. A total of 425 offers were made to our students recording a jump of 21% over last year. Strikingly, it is the Indian companies who have raised the bar significantly offering international salaries to our students.”

Rangnekar added, “We are glad that the ISB edge is gaining recognition around the world. This year's outstanding results demonstrate the confidence companies both in India and abroad have in the strengths of our students.”

Women students at ISB break the glass ceiling

The ISB has always encouraged the enrolment of women students into its management programme. Women students in the Class of 2006 represented 19% of the total Class this year. The Class of 2006 saw all its women students participating in the Placement Process. The highest offer made to a woman this year is USD 223,400 (Rs.1.01 crore). The top domestic offer for women students is Rs 20 lakhs while the average salary is Rs.9.89 lakhs. What is significant is the fact that of the four students who bagged the USD 200,000-plus salary offers, two are women, who have been offered Global Leadership positions. Shilpa Bajoria, Class of 2006 said, “We received a lot of encouragement at the ISB. My stint here has offered me an ideal platform to move on to a leadership role. I am very excited at the avenues which have opened up for me.”

The lure of India and the Indian companies

Indian companies raised the bar significantly making exciting job offers to the ISB students both in terms of salary and job profiles.

An interesting trend that was witnessed this year at the ISB was that an increased number of students have chosen to opt for domestic offers over international offers. Yashraj Erande, Class of 2006, said, “I was offered a very interesting job by a US based technology company. But I knew I wanted to be closer home, working in the increasingly challenging and versatile business environment, and hence I chose a job offer which gave me a chance to play a pivotal role in India.”

Media emerges as a hot sector

While the regular recruiting companies -- Consulting, IT, FMCG, and Banking & Financial services, etc -- elicited a lot of enthusiasm from the participating students, Media companies for the first time made a mark at the ISB this year. Several ISB students opted for jobs with various media companies including ABP, GBN, and RPG Saregama.

Kartik Ramakrishnan, an ISB student who accepted a media offer, said, “I received two offers–a consulting offer, and an offer to help set up an FM Radio Channel. Although, consulting was what I had always wanted to go for, the radio offer is hard to come by straight after B-school. It was a golden opportunity to implement all that I have learnt at the ISB. In fact, it was a trade-off for me as the consulting offer was higher paying, yet I chose the one in the media.”

ISB students make it to the top

The ISB students have been offered several senior management positions such as COO, VP-International Marketing, Head-Marketing, International Country Manager Designates, and others, from leading domestic and international companies. This is a clear indication that companies have given due recognition to both the students’ prior work experience and the ISB’s efforts in grooming them for senior positions.

Dramatic Career Shifts

Several cases of students who came to the ISB looking for a change in their career after several years of work experience and successfully making career shifts were witnessed this year. Some of the dramatic career shifts include: A student who after several years of owning a detective agency has been offered a Vice President-International Marketing position of a leading healthcare company; an Indian Navy serviceman of several years has also now opted for a job in the healthcare services sector. Other interesting instances of career shift are: a doctor becoming a consultant; a shipping industry professional moving to real estate consulting and several others.

It’s not all about money

More than 30 students at the ISB have declined high salary packages in their quest for taking up jobs that find the ‘best fit’ for them. Many students declined lucrative offers and chose better job profiles. Differentials ranged from Rs. 3 lakhs and went up to about Rs. 26 lakhs depending upon whether the offer rejected was a domestic one or an international posting with a dollar salary. This is a demonstration of the economic confidence that Indians are beginning to feel.

This year’s recruitments at the ISB are proof of the ISB edge and reflect how ISB graduates are being treated at-par with the world’s best by both Indian and global companies.