IIM Vizag student bags highest pay package of `32 LPA
Around 100 companies participated in the placement drive of which 61 were new recruiters for the seventh graduating MBA batch
Visakhapatnam: IIM Visakhapatnam, popularly known as the sunrise IIM which secured 33rd rank among top B-schools in India in NIRF ranking in 2022, has once again proved its mettle by completing the final placement season for the seventh graduating MBA with record offers.
Notwithstanding the world-wide trend for downsizing and rightsizing through job cuts and pay cuts amid fears of recession, IIMV maintained its legacy of delivering 100 per cent placement results. It also broke the previous records to achieve the highest-ever average package for students with work experience at Rs 17.21 LPA and for the overall batch at Rs 15.47 LPA.
Reinforcing their faith in the superior quality of IIMV's students, recruiters across industry segments offered higher packages for coveted roles raising the highest package up to Rs 32 LPA. The jobs offered to the students are a great reason for celebration with the top 10 per cent receiving an average package of Rs 22.72 LPA, the top 25 per cent getting an average package of Rs 20.02 LPA and the top 50 per cent securing an average package of Rs 17.94 LPA.
Commenting on their success, Prof M Chandrasekhar, Director of IIMV said on Sunday, "The institute is grateful for the impressive placements to the unwavering support of esteemed recruiters, the efforts and determination of our Student Placement Committee, the Career Development Services Team, and, most importantly, the competence and zeal of our students, who are largely a cohort of freshers."
Held on a rolling basis, the placement season witnessed around 100 companies participating in the process and making multiple offers, with 61 new recruiters offering roles across various domains, including consulting, strategy, finance, product management, analytics, brand management, marketing, HR and IT.
In sector-wise break-up this time has been topped by IT and Consulting (34 per cent) on fresh talent, followed by BFSI (26 per cent), Manufacturing (14 per cent), Retail (5 per cent), Logistics (5 per cent), FMCG (4 per cent), E-commerce (3 per cent) and other sectors (9 per cent).
Some of the prominent recruiters include ABSYZ Inc, Accenture, Adani Group, Airtel Payments, Amara Raja Group, Amazon, Amul, Anand Rathi, ArcelorMittal, AUSF Bank, Axis Bank and Bosch.
