Firms Recruit More Undergraduates This Year; Salary At St Stephen’s, LSR, SRCC Tops Rs 14 Lakh

Even as the Indian Institutes of Management (IIMs) prepare for placements this month, it’s business as usual at top undergraduate colleges, regardless of the slowdown.

Companies are recruiting similar and even marginally higher numbers than last year, and highest salaries are competing with and even beating the average salaries at some of the IIMs.

Highest salaries at some of the country’s premier undergraduate institutions like St Stephen’s,Lady Shri Ram College (LSR), St Xavier’s Kolkata and Shri Ram College of Commerce(SRCC) are between Rs 12 lakh and Rs 14.7 lakh this year, and top recruiters include McKinsey & Company, Citibank, Deutsche Bank, Google, Deloitte, American Express and DE Shaw.

Average and median salaries at IIM Indore and IIM Kozhikode hovered at Rs 12 lakh last year. While Deloitte stated it hired at similar numbers and salaries like last year, companies like Citi and PwC state they recruited higher numbers than last year.

The highest salary at St Stephen’s College is at Rs 14.7 lakh and students from streams like mathematics and economics have received the maximum offers. The average salary for the present batch is at above Rs 8 lakh, says a member of the campus placement cell of the college. “All our top recruiters have hired similar numbers if not more, compared with last year,” he adds.

At LSR, the average salary has risen to Rs 7 lakh from Rs 5 lakh last year, while the highest package is at Rs 13 lakh. “This year, the number of students who have been placed till date is equal to the total number of placements last year,” says Kanika Khandelwal, chairperson of the placement committee.

Companies like Barclays and Crisil visited the campus for the first time in 2013-14. Placements at Delhi University colleges are spread over two semesters of the academic year. While the first season spans from August to October, the second begins in January, ending in March.

At SRCC, average and highest salaries have stayed at levels similar to last year. The highest salary, offered by Deutsche Bank, is at Rs 14 lakh per annum while the average is at Rs 6.5 lakh. Placements at St Xavier’s Kolkata began this month and will continue till April. The highest salary offered by Reckitt Benckiser is at Rs 12 lakh till date – the same as last year.

“There is a very good response from the students for registering their names for placements as there are many more opportunities than before,” says Niladri Sinha, placement officer at the college. The Big Four audit and advisory firms are regular recruiters at undergraduate campuses for roles like audit and assistant trainees and business technology analysts. “We have experienced a high offer acceptance rate and the trend continued this year,” says P Thiruvengadam, senior director, Deloitte Touche Tohmatsu.

PwC has have hired from business schools, engineering schools and graduate colleges in Delhi University, says Mark Driscoll, human capital leader. “The total numbers of recruitment as well as salaries are comparatively higher than last year,” he adds. Citi India’s hiring from undergraduate campuses has gone up by 34% over last year.

“This year, we will introduce a summer internship programme for undergraduates and aim to start it with 45 interns to build a ready talent pipeline for the analyst programme,” says Kripa Krishnamoorthy, head, talent, diversity and organisational development. Airtel will offer greater salaries to undergraduates this year. “Basis their performance and potential, students also stand a chance for a global stint at Airtel Africa,” says an Airtel spokesperson.

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