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Jamshedpur, March 10 (Source: The Telegraph): Students of XLRI have done it again, albeit the desi way.
All 180 students have snapped up best bargains from top-notch Indian companies, prudently ignoring offers from international ones that are believed to be more susceptible to global economic fluctuations.
While a Mumbai-based consultancy firm perked up the XLRI placement week — February 9 to 14 — with this year’s highest domestic offer of Rs 26 lakh, Swiss pharmaceutical major Novartis was the only international company (out of half a dozen) accepted by students. It offered a package of $ 110,000 (Rs 50 lakh approx.) per annum, same as last year. The highest domestic package in 2009 was Rs 22 lakh.
The premier B-school also saw a hike of Rs 2 lakh in the average package. What was Rs 12.12 lakh last year soared to Rs 14.20 lakh this time.
Rajiv Misra, the head of XLRI’s placement committee, said 75 companies, including Edelweiss, Deutsche Bank, HSBC, Hindustan Unilever, Aditya Birla Group, Johnson & Johnson, ITC, Cadbury and Procter & Gamble, took part in the recruitment drive. Last year, 76 companies had visited the campus. The figure was 57 in 2008.
“We bagged 100 per cent placements in business management (120 students) and personnel management and industrial relations (60 students). Only one international company has been accepted by students who are possibly sceptical of the situation overseas,” Misra said.
For the first time, XLRI also released the median figure — Rs 12.75 lakh per annum — for average domestic salary. Fifty per cent students have crossed the mark. About 28 per cent students accepted jobs in the finance sector, 30 per cent in marketing, 25 per cent in consultancy and 17 per cent in general management.
In another first, XLRI started deferred placement this year, with business management student Shwetank Jain, registering for it. “Deferred placement is a process to encourage entrepreneurship. A student signs a two-year contract. If the start-up fails, he or she can return to attend placements for the next two years,” said Venkatesh Kominen, secretary of the placement committee.
