IFMR Graduate School of Business (IFMR-GSB), which is now part of Krea University, saw good improvement in average salaries for its 2-year MBA program in the placement season this year.
Over 80 percent of the students have already been placed in the ongoing placement season, hired by a significant number of finance, consulting and technology giants. Interestingly, IFMR GSB witnessed, in the past three years (i.e between 2017-18 and 2019-20), at least 50-75 percent of the students were typically placed in finance, consulting and technology companies. As is the norm, students were usually offered various roles in financial strategy, business management, risk management, data analytics, compliance and governance, and financial control. Remarkably, this year the B-school observed a whopping 87 percent of the students being picked up by leading companies in these three industries. This has further contributed to the average salaries increasing by 10 percent, despite the ongoing pandemic and recovering economy.
What really sets this placements season apart from the rest is that 4 top US banks - JP Morgan Chase, Bank of America, Wells Fargo and Citi - have collectively hired over 40 students already, which accounts for more than 25 percent of the students placed till now.
|
Average Salary in Rs. Lakhs [Finance + Consulting] |
Average Salary in Rs. Lakhs [Finance + Consulting + TechFin] |
|
|
2017-18 |
10.4 |
9.9 |
|
2018-19 |
10.3 |
10.2 |
|
2019-20 |
10.3 |
10.1 |
|
2020-21* |
11.4 |
10.9 |
* to date
10 of the large companies have hired 5 or more students from IFMR GSB. These include JP Morgan Chase, Wells Fargo, Société Générale, Citi, Deloitte, IDFC First Bank, Accenture, Cognizant, Wipro and HCL Technologies. Other marquee recruiters include Barclays, Bank of America, Credit Suisse, HDFC Bank, EY, KPMG and Crisil.
Resting upon the IFMR GSB’s strong legacy in finance, Krea University has attracted many leaders from the world of finance and economics to its leadership team to provide strategic direction. This includes Mr N Vaghul (former Chairman of ICICI Bank Ltd), Dr Raghuram Rajan (the 23rd RBI Governor), Mr Seshasayee (former Chairman of IndusInd Bank), Mr Raghu Sundaram (Dean of NYU Stern School of Business) and Mr Rajiv C Lochan (MD, Sundaram Finance).
Other industry stalwarts such as Mr Anand Mahindra (Chairman of Mahindra Group), Mr. S Ramadorai (former vice-chairperson of Tata Consultancy Services), Ms Kiran Mazumdar-Shaw (Chairperson & MD of Biocon Limited), Mr Aditya Mittal (President, CFO and CEO of ArcelorMittal Europe), Mr PR Venkatarama Raja (Vice Chairman, MD & CEO of Ramco Systems), Mr Rajiv Memani (Chairman, CEO of EY India), Ms Anu Aga (Former Chairperson of Thermax Ltd), Mr Cyril Shroff (Managing Partner of Cyril Amarchand Mangaldas), Mr Sajjan Jindal (Chairman & MD of JSW Group of companies), and Mr Dheeraj G Hinduja (Chairman of Ashok Leyland) are part of Krea’s Governing Council.
“Technologies such as analytics and artificial intelligence, cyber forensics, robotics and blockchain are redefining the financial services landscape and experiential learning is becoming a key component of learning in the new context”, said Ramkumar Ramamoorthy, Pro Vice-Chancellor for Professional Learning at Krea University and former Chairman and Managing Director, Cognizant India. “IFMR-GSB is increasingly becoming the go-to institution for students wanting to build a career in technology-driven financial services in areas spanning strategy, operations, marketing, core finance as well as FinTech and TechFin.”
“Recently, McKinsey published a report titled ‘India’s turning point’ and highlighted that next-generation financial services has a potential add $335 billion to India’s GDP between now and 2030. This presents a huge opportunity for IFMR-GSB and its students in the upcoming years to shape this industry, both in India and globally,” added Ramkumar.
Dr Shobha Das, Dean at IFMR GSB - Krea University, weighed in on the placements season thus far, elaborating on why the need of the hour is to prepare students for uncertainties, especially now more than ever. “Businesses around the world are going through a transformation, as the pandemic, with its set of challenges, has also brought new opportunities. Faculty and students are beginning to learn and adapt to the new modes of learning, networking and community building. At IFMR GSB, we don’t just prepare you for a job when you graduate but also for jobs of the future. In line with the ethos of Krea University, we prepare managers for an unpredictable world, enriched by our pioneering Interwoven Learning, diverse faculty cohort, and a futuristic curriculum. When our students join the workforce, they don’t just survive. They thrive, irrespective of how dynamic the environment may be,” she added.
Dr. Amit Das, Chairperson – Admissions stated that “Over the years, IFMR has consistently raised the quality of its entering cohort by insisting on higher test score cutoffs and more stringent requirements for undergraduate academic performance. This focus on student quality has been rewarded by demanding recruiters such as the Indian arms of US and European banks, who account for an increasing proportion of our placements.”
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