The biz course that's making salaries surge

Executive education programmes at leading business schools are gaining ground among recruiters, with placement numbers showing how businesses are increasingly keen to hire professionals with a good chunk of work years under their belt.At institutes such as IIM Bangalore, IIM Indore, IIM Calcutta and XLRI, among others, the average salary offered to graduates of executive education programmes has been upwards of Rs 18 lakh per annum, with top salaries close to Rs 90 lakh.HIRING ON THE UPSWING AT THE IIMs“Recruiters, overall, are very keen to recruit from such programmes because they offer a talent pool with robust experience as well as rigorous management education. In case of large organisations, students are typically recruited at the mid-management level while smaller organisations from time to time recruit students for senior-/ CXO-level roles,” said Utanka Sarma, senior manager, career development services, IIM Bangalore.The mean salary of the recently graduated batch (2017-18) at IIM Bangalore’s full-time executive post-graduate programme (EPGP) was Rs 23.5 lakh. Accenture, Indian Ports Association and Flipkart were among the big recruiters on campus. The intensive one-year residential programme has been created specifically for professionals with robust track records and 5-12 years of work experience across a wide range of industries.According to professor Ashish Sadh, chairperson, EPGP, IIM Indore, the programme is slowly gaining popularity in India as the alumni network becomes stronger and industry awareness about the programme increases. “Newer and higher number of recruiters turned up for placements this year than the previous years, offering better roles and responsibilities. People got opportunities to even shift industries,” said Sadh.Average salary over the last few years has also seen an increasing pattern at IIM Indore. New recruiters at the institute this year included KPMG, PwC, Michael Page, Oracle, Oyo Rooms and Bajaj Allianz while for IIM Calcutta, it was PwC, Axis Bank and Rivigo.SALARIES SEEING A SURGEAt institutes like IIM Calcutta, the top salary for the one-year residential programme for executives, PGPEX, has soared. According to the institute’s website, placements for its 11th batch of 2017-18, have seen a top salary of Rs 89.25 lakh and average salary of Rs 24.52 lakh, an increase of 192.14% and 21.87%, respectively, from a year ago. The number of recruiters jumped over 80% to 78 from the 43 in the previous year.IT services firms led the pack with 26 offers, followed by ecommerce with six.The highest salary at IIM Indore’s EPGP—offered by Drew Marine, a global company providing technical solutions and services to the marine industry—was Rs 65 lakh, a nearly 45% jump from last year’s top package. Accenture hired as many as seven candidates, emerging the top recruiter on campus in terms of numbers. IIM Indore, on its part, has seen average salary jump from Rs 18 lakh to Rs 20 lakh.OTHER B-SCHOOLS ALSO UPBEAT Various companies are now showing a greater interest in recruiting experienced candidates from premier institutes, said Sabyasachi Sengupta, chairperson, placements, GMP, XLRI. The institute, which offers a 15-month full-time residential PGDM programme, saw average salary go up to Rs 18 lakh from last year’s Rs 17 lakh. Highest CTC of Rs 28 lakh was offered by Accenture, which also hired the maximum number of students.Axis Bank, Vikram Solar, EXL Services and Muthoot Fincorp were among the first-time recruiters at XLRI. There were around 34 offers from IT, 26 in operations, and 16 from consulting.“Campus hiring has always been a key part of our overall talent strategy. We make key hires from a number of B-schools every year. This includes students pursuing executive MBA,” said Vishpala Reddy, regional HR director for APAC at Uber. “As we focus on scaling our businesses in India, like Uber Eats that we launched just a year-and-a-half ago, hiring candidates from varied professional backgrounds adds immense value to our teams here.”Other companies, too, are seeing the merit. Despite having the largest batch to place, the one-year programme at Great Lakes Institute of Management in Gurgaon saw a record number of participating companies, resulting in students being snapped up faster than in the previous years. Recruiters included American Express, Aditya Birla, Deloitte, KPMG, EY, Cognizant, Hexaware, Virtusa Polaris, MuSigma, Expedia and FoodPanda, and the average salary went up to Rs 11.14 lakh from last year’s Rs 10.17 lakh.This year, the highest offer was Rs 18 lakh by a large coffee beverage chain, and it is up from last year’s Rs 16 lakh offered by a US-based IT major. Deloitte was the largest recruiter with 19 employment offers for one-year programme graduates, said Prof KJ George, director of corporate and career services at the institute.Mumbai-based business school SPJIMR is yet to conduct placements for the PGPM class of 2018, but the class of 2017 saw 100 % placement. A few participants joined their earlier organisations as they had taken a study sabbatical, but the recruiting companies represented a wide range of fields such as management consulting, BFSI, automobiles, retail, telecom, logistics, real estate, etc. The highest salary for the class of 2017 was Rs 29.58 lakh while the average salary for the 138-strong batch was Rs 18 lakh, said Prem Chandrani, chairperson, PGPM.

from The Economic Times https://ift.tt/2MxqQR7