IIM-C goes past crore bracket on salaries

The Indian Institute of Management Calcutta has made the first “crorepatis” this recruitment season...

The Indian Institute of Management Calcutta (IIM-C) has made the first “crorepatis” this recruitment season, with some students bagging offers in excess of $250,000 for foreign postings.

The IIM-C, oldest in the IIM family, says all records have been broken following the latest pre-placement offers (PPOs) for the 2005-07 batch. The institute also holds the earlier record of $225,000 for a foreign posting in 2001.

Two students have secured offers of $250,000 (over Rs 1.1 crore) from a leading investment bank for its New York desk. Another has bagged an offer of Rs 1.05 crore from an investment bank.

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The latest placements are part of the Slot Zero scheduled for this Saturday. Last year, 25 of the 114 firms that had confirmed participation in the final placements had to go back empty-handed as the batch of 249 students had 505 offers to choose from.

Spokesmen for the IIM-C students said not only are these the highest salaries offered across all B-school campuses in India, these were also 50 per cent higher than the average salary offered at Harvard, Stanford and Wharton.