IIM Calcutta students bag an all-time high average annual package of Rs 34 lakh

Indian Institute of Management (IIM) Calcutta has achieved 100% placement for its 57th batch with a historic average annual package of Rs 34 lakh – the highest bagged by any batch of the premier B-school till date.

About 465 students took part in the final placement process and received a total of 631 offers, IIM Calcutta stated in a press communique. The entire placement process was conducted virtually this year owing to the COVID-19 pandemic, the institute said.

More than 190 firms participated in the final placement process and the median salary offered was Rs 31 lakh, while the average salary stood at a record Rs 34.2 lakh, the institute's statement said.

IIM Calcutta followed a cluster-based system for the placement drive where the participating firms were mapped to cohorts that were further mapped to their respective clusters.

Congratulating the students and the placement team on their achievement, Manish Thakur, dean (NIER), said, “The 57th batch has undergone several transitions because of the pandemic situation and all of us at IIM Calcutta are very proud of their achievements. I would like to thank all the recruiters for their faith in our students. We wish each one of them the very best for their future.”

The consulting sector emerged as the top recruiter, with 49% of offers being raised in the domain. Accenture Strategy, Bain & Company, Boston Consulting Group, EY Parthenon, and McKinsey & Company were some of the top recruiters in this domain.

Marquee Asset Management, Investment Banking, and Private Equity-Venture Capital firms made 18% offers, proving the mettle of the institution in the finance domain. Goldman Sachs and Avendus made the highest offers within this cohort.

In the General Management and Marketing domain, 14% of offers were raised. Some of the prominent recruiters in this sector were Hindustan Unilever Limited, ITC, Nestle, Procter & Gamble, Tata Administrative Services, among others.

At least 19% of overall offers were rolled out in the Product Management and Operations domains. Top recruiters included Amazon, Flipkart, Microsoft and Paytm.

Uttam Kumar Sarkar, director, IIM Calcutta, congratulated the students. "I congratulate the students on their satisfying placement that speaks volumes of their capabilities. I also thank the recruiters for having recognised our students’ talent. My appreciation to the placement committee for its superb performance. IIM Calcutta wishes the outgoing batch the very best in their professional and personal lives as they take their alma mater to new heights through their contributions to the bigger world.”

Despite the uncertainty caused by the Omicron-triggered third wave of the COVID-19 pandemic, there were several new recruiters on campus, including IIFL, Nykaa, Premji Invest, Rothschild, Zomato, and international offers from Emaar and Protiviti, IIM Calcutta said in its communique.

Isha Verma, a student of the 57th batch of the B-school, said, “Amidst new COVID variants and overall uncertainty about the job market, the fact that the placement team was able to bring in newer companies and achieve successful placements shows their efforts and determination. The team also introduced student-friendly policies and ensured the online process was smooth for everyone. Kudos to them for their hard work in providing such surreal placements to the batch despite all uncertainties.”

Vishal Chopde, another student of the batch, said, “The new placement policy made the process more efficient and transparent for all the stakeholders. The relentless efforts of the placement team and determination of the batch have resulted in remarkable employment offers and a smooth placement run.”

Chetan Joshi, chairperson, CDPC, said, “The dedicated efforts of the student placement team, volunteers and support of one and all in the IIM Calcutta community has once again culminated in excellent placements at IIM Calcutta. I congratulate everyone involved in the effort.”