₹30L annual package for BMS student from St Xavier’s College

MUMBAI: In a first-of-its-kind placement season, which was conducted online across city colleges, a final-year Bachelor of Management Studies (BMS) student from St Xavier’s College has bagged a job offering a remuneration of ₹30 lakh per annum.

City colleges affiliated with the University of Mumbai (MU) have attracted a mix bag of jobs in the on-going placement season. While in some colleges the annual packages have not matched last year’s numbers, several colleges did much better than the previous year.

“Several big companies have not changed their recruitment programme, though smaller companies were affected by the lockdown and the strain of the economic slowdown. However, companies from sectors such as the fast-moving consumer goods (FMCG) and consultancy have managed to offer maximum number of jobs this year,” said Soni George, head of the management studies department and placement convenor of St Xavier’s Autonomous College.

At RA Podar College in Matunga, a final-year undergraduate student was offered an annual package of ₹11 lakh in the first phase of placements. Officials from the placement team told HT that while students were content with the salary package offered this year, most were expecting a better variety of job profiles. Some regular recruiters also were a no-show this year.

“There has been an increase in the number of finance profiles and a dip in the marketing profiles offered, unlike previous years, for no specific reason. Many of our regular companies either denied hiring for the entire year or displayed uncertainty and delay when it came to recruitment plans,” said a spokesperson for the institute. Last year, the highest package received by a student of the institute stood at ₹13 lakh per annum.

At Jai Hind College in Churchgate where the placement process is still underway, the highest salary package received is similar to last year and college witnessed a growing trend of more Edu-Tech and Fin-Tech companies offering jobs to their students. Like every year, students have also opted for jobs which not only offer a good profile and package but also allow them the flexibility of applying for further studies along with their job.

“More than one hundred registered final-year students of our institute have already been placed in the first phase of placements this year. Along with the regular finance, marketing and HR companies offering jobs, there has been a rising trend of job offers coming from education as well as social sciences sectors,” said Nainesh Koli, placement officer for NM College. He added that the highest salary offered to a student of the institute stands at ₹11 lakh this year. Last year this figure stood at ₹13 lakh.

While many companies are still waiting for the lockdown to end before bringing new employees on-board, in some cases, the companies have already welcomed students with a virtual orientation programme.

“Good job profile and remuneration package have been acceptable and as per the students’ demands this year, but the best part has been the decision of some companies to on-board students virtually and letting them absorb the experience while they still can,” said Navin Punjabi, vice-principal of HR College, Churchgate. He added that the highest package received by a student from the college stands at ₹11 lakh this year, similar to last year.

St Xavier's College held the placements session online.