While the business community is going through a slowdown, reputed business schools have seen a rise in average salaries and number of recruiters for the class of 2020. The top six (IIMs) do perform well every year, but this year the campuses just below them have taken everyone by surprise.
A rough business year has companies paying a premium for top talent, shows placement data from institutes like the FMS, IIFT, Goa Institute of Management (GIM), IMI Delhi and the new IIMs at Kashipur and Raipur.
Good placements in a bad year reflect businesses’ commitment towards investing in talent as a long-term strategy, say placement heads, recruiters and HR experts.
Talking about figures, IIFT in Delhi received 310 offers this year compared with 279 in 2019 while their average salary increased marginally to Rs 20.48 lakh per annum. At FMS, the average salary was up 11%. IIM Kashipur received its first international offer this year. At IIM Raipur, almost 90% of the 206-strong batch has already been placed.
The job offers don’t surprise the industry experts. “These are investments. During a slowdown, one reduces spends and not investments,” said Sarthak Raychaudhuri, vice president-HR, Asia at Whirlpool Corp.