Good start for young IIM
- Shillong students draw average salary of Rs 9.8 lakh
Guwahati, March 29: The first batch of graduates from the country’s youngest IIM — the Rajiv Gandhi Indian Institute of Management, Shillong — has drawn average salaries of Rs 9.8 lakh in the first placements held last month.
“As the youngest IIM with problems of logistics, students have got good offers and we are pleased with it,” said Arijit C. Majumdar, the chief of corporate relations and external affairs of IIM Shillong.
Majumdar, however, refused to disclose the names of the candidates and their recruiters, saying “the companies have told us specifically not to disclose the names”.
While the best domestic offer was of Rs 18 per annum, the highest foreign offer stood at Rs 33 lakh per annum.
There were four foreign offers from Indonesia, Singapore and Dubai and the salaries offered in Indian currency were between Rs 33 lakh to Rs 34 lakh. The offers were made in marketing retail and international operations of an industrial house.
Majumdar said 35 per cent of the offers were made through video-conferencing and 30 companies offered jobs in as varied areas as finance, information technology, human resources, supply chain management and marketing.
Of 63 students, 61 have already received the job letters while two are expected to get them soon.
Set up in 2008, IIM Shillong currently offers a two-year post-graduate programme in management.
In addition, the institute offers management development programmes, research and consultancy. It will hold its convocation on April 3.
“The recruiters were happy to find students from diverse cultures,” Majumdar said.
Two students at IIM Shillong are from Assam and had studied outside before joining.
One of the students who was recruited summed up the mood: “We know what to expect.... it cannot be in crores... we adjusted to it and are happy”.
There are four students in the placement committee who also help co-ordinate with the companies.
The institute had decided not to charge any fees to companies in the current season.
“We had given the brochures and the details of each and every student (backgrounds, previous internships) to the recruiters so that they can decide. This helped save time,” Majumdar said.
The rules state that the organisation cannot communicate the offer to the candidate directly. A job offer must specify the position offered, the remuneration package and the job description.