An e-commerce company has offered an annual salary of Rs 1 crore to a student of the Indian Institute of Management (IIM) Indore, an official said Tuesday.

This is the highest annual package offered during the final placement round of this session at IIM-I, the official said.

"One of our students has bagged the highest salary package of Rs 1 crore during the final placement period of this session. This student has been offered a job in the sales and marketing department by a company in the e-commerce industry. The offer is for domestic placement," the official said.

Against the backdrop of "a cooling job market", the season culminated with more than 150 recruiters extending offers to 594 students of the two-year Post Graduate Programme (PGP) and five-year Integrated Programme in Management (IPM), the official said, adding that this reflects the industry's unwavering trust in the institute and its students.

The statistics for this year consisted of the average CTC (cost to company) at Rs 25.68 lakh per annum. While the median CTC stood at Rs 24.50 LPA, the highest compensation offered on campus stood at Rs 1 crore per annum.

IIM-I Director Himanshu Rai said, "We strongly believe that integrating academia and industry is crucial for students' welfare and have made consistent efforts to bridge the gap. Our students' ability to secure fulfilling career opportunities, despite ongoing economic uncertainties, underscores the efficacy of our philosophy." This year more than 50 new recruiters have joined hands with IIM Indore, he added.

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