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| | The Indian Institute of Management - Ahmedabad’s decision to relax placement rules to encourage students to turn entrepreneurs has had a good response this year. Eleven students have opted for floating their own ventures this time. They can now return for campus interviews in the next two years. Eleven more, of the 235 students who made up this year’s batch, rejected work offers from abroad. This year’s weeklong placement process ended a day ahead of schedule, with all the 224 available graduates taking up work offers on Tuesday. Fears of the global recession affecting the placements seemed unfounded, with 63 students getting overseas offers. IIM-A Director Professor Bakul Dholakia disclosed that the average international salaries too had gone up by 25 per cent this year. Last year’s highest offer was $1,85,000 (Rs 83 lakh), including bonus. This year, the offers varied between $225,000 (Rs 1.1 crore) and $300,000 (Rs 1.5 crore), including bonuses, he said. The average annual domestic salary for this year’s IIM-A graduates jumped to Rs 13.6 lakh, a 40 per cent increase over last year. Acknowledging the improvement in domestic job offers, Prof Dholakia said it was a "good trend that students were preferring domestic placements to foreign offers". Twenty-four students were funded by the IIM-A’s need-based scholarships. Jatin Mamatani was one of the 11 who rejected an overseas offer to work in India. But he was candid enough to admit "it would be a lie to claim that it was only love for the country". His choice was guided by his preference of a consultancy job here to a bank job in New York, he said. Of the 11 students opting out of placements, four are manufacturing a new brand of women’s wear. They have also begun a website to train CAT aspirants. Called ‘10-a-day’, the website logged 8,000 registered users within 20 days of its launch. The website will give the students 10 questions a day. |
