The Indian School of Business, for the second time consecutively, has set new records among Indian business schools for placements in 2005.
The ISB achieved a new record in the country for the highest international offer at $181,000 (Rs 80 lakh). The average international salary at $100,000 (Rs 44 lakh) with a jump of 19% from 2004, is the highest among the B-schools in the country.
The highest Indian salary at the ISB this year is Rs 20 lakh and the average Indian salary stands at Rs 10 lakh, representing a rise of 11 per cent from the last year.
The ISB placement results this year have broken new grounds in the history of placements in B-schools in the country.
Speaking on the occasion, Ajit Rangnekar, Deputy Dean, Indian School of Business, said, "The placement results for 2005 have been phenomenal. The number of offers our students received this year jumped 26 per cent, with the number of international offers increasing by a substantial 55 per cent. The consulting sector was the biggest recruiter followed by information technology and financial services this year."
The Class of 2005 had 273 students, of which 251 participated in the placements. 150 companies participated in the placement out of which only 84 could make the final offers. A total of 344 offers were made to the students.
The ISB has always encouraged enrolment of women students into its management programmes. With a representation of 19 per cent, the Class of 2005 had the highest number of women students across B-schools in the country. Out of the 52 women students in the Class of 2005, 48 participated in the placements. The highest offer made to a woman this year is Rs 20 lakh, an increase of 53 per cent as compared to 2004 (Rs 13 lakh).
New trends in international offers
An interesting trend noted this year was that Indian companies offered international positions to the ISB students. Companies like BirlaSoft, ITC Infotech, Satyam Computers, Mindtree Consulting, among others, offered international positions to the ISB students in countries such as the United Kingdom, Australia, the United States, Singapore, etc.
Several multinational companies have made international offers to the students at the ISB this year, some of them being, BP, Deutsche Bank, Goldman Sachs, Novartis, Development Bank of Singapore, Marakon Associates, etc. The highest international salary of $181,000 is in league with the offers received by students from Ivy League schools.
"We have seen a substantial increase of 55 per cent in the number of international offers compared to last year. It is very inspiring to see large multinationals selecting the ISB graduates for their international positions along with the graduates from other premier schools across the world," said Rangnekar.
"Eight students from the class of 2005 of the ISB have received international offers in the range of $130,000 (Rs 57 lakh) to $180,000 (Rs 80 lakh), setting a new record in international offers for B Schools in the country," added Rangnekar.
The ISB students have received several senior management positions such as the chief operating officer, director-operations, international general management, division head, senior associate consultant, etc, in blue-chip companies. This has been made possible because of the ISB's pioneering efforts in persuading corporates to recruit students with several years of prior work experience for high responsibility roles.
The ISB has pioneered the lateral placements concept, since its inception in 2001. The rapid increase in the proportion of lateral placements shows that many more corporates are taking the opportunity to recruit ISB graduates for middle to senior level positions.
The lateral placements account for a whopping 97 per cent this year as against 81 per cent last year.
Dramatic career shifts
One of the other unique features of the ISB is that it facilitates students to make career shifts. Students often look for opportunities to change their career tracks after having worked for several years in a particular industry or function. For example, Rohit Bhatla, with seven years of experience in the Armed Forces, has now joined the sales and marketing function of an FMCG company after his one-year stint at the ISB. Other interesting instances of career shifts would be that of an architect moving to financial services business development, a media professional opting to be a consultant, a flight attendant from an international airlines joining the sales & marketing team in an FMCG company.
"After seven years in the aviation industry as a flight attendant, I was looking for a change. One year at the ISB and I have now joined the sales and marketing team in an FMCG company. The ISB has provided me this launch-pad to shift careers," said a jubilant Shikha Monga.
The Indian School of Business is a research-oriented independent management institution that grooms future leaders for India and the world. Its partnership with the Kellogg School of Management, The Wharton School, and London Business School make it one of its kind in Asia.
ISB offers a one-year post-graduate programme; short-duration, high-powered executive education programmes for CEOs and senior executives; and a two-year research fellowship programme.
Fact sheet: ISB placements 2005
Record international salary : $181,000 (Rs 80 lakh)
Average international salary : $100,000 (Rs 44 lakh)
Highest Indian salary : Rs 20,00,000
Average Indian salary : Rs 10,01,539
Placement statistics for Women
Total number of women : 48
Total number of offers : 63
International offers : 4
Highest salary for a woman student : Rs 20,00,000
Average salary for a woman student : Rs 9,20,000
Percentage up in salary over 2004
International : 19%
Indian : 11%
Total number of offers : 344
Number of Lateral offers : 333
Number of International offers : 31
Total no. of firm that participated in the placement process : 149
Total no. of students who participated in the placement process : 251 out of 273
Leadership Positions in companies
Director - Operations
Senior Associate Consultant