Salaries skyrocket but IIM grads stay grounded

MONEY DOESN'T MATTER: At IIM-A last year, students chose less lucrative marketing profiles over investment bank offers.

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Mumbai: The job profiles on offer for an IIM graduate are getting better and so are their salaries. Last year alone, IIM-Ahmedabad got 11 associate-level offers, ensuring a salary sum of more than Rs 1 crore.

This year too, IIM-A has received nine such offers even before the beginning of the placement season.

But students say money isn't the priority.

“First I would want to know if the industry excites me. Then I will see whether within the industry, the company and brand image excites me,” says IIM-A Riya Bhattacharya.

Agrees another IIM-A student Ami Ganatra, “Last year one of our seniors gave up pre-placement offer with an investment bank to start a construction company in Andhra Pradesh. I think at IIMs people know that they can get money as and when they want so it is not the key consideration.”

At IIM-A last year, students chose less lucrative marketing profiles over investment bank offers.

And companies are not missing the cue. Fresh sectors such as public sector undertakings and even media firms such as the ABP group and Star TV are marching into IIM campuses with lower pay scales. What's more, they have no trouble finding takers.

“Last year a number of students picked up offers with SEBI, which was very attractive for them even though they did not pay as much. It gave the students very important exposure to the financial markets which going forward would be very useful for students,” says Professor, IIM Bangalore, Sourabh Mukherjee.

Most of IIM students have little or no work experience. So their first job also defines their career. Not surprising then that top priority for them is the profile and not money.