SP Jain’s highest salary package drops by 14%

MUMBAI: The highest annual salary package offered to a postgraduate diploma in management (PGDM) student from the current batch at Bharatiya Vidya Bhavan’s SP Jain Institute of Management and Research (SPJIMR) stood at ₹44 lakh per annum this year, a 13.75% drop compared to last year.

The highest package received by a student of the 2020 PGDM batch was ₹51 lakh, whereas the year before that, the highest package received stood at ₹46.5 lakh. This year, the entire placement process was conducted virtually and in a record two days, said officials from the institute.

The average annual salary offer this year stands at ₹25.86 lakh per annum, while the median annual salary package stands at ₹25 lakh per annum, with over 26% of the batch securing offers in excess of ₹30 lakh per annum. Over 80% of the batch earned offers in excess of ₹20 lakh per annum, highlighted the institute’s placement report.

Consulting emerged this year as the top recruiting sector, with offers rolled out to 36% of the batch of 233 participants. FMCG (fast-moving consumer goods) sector continued to be a major recruiter, making offers to close to 18% of the batch.

“This was closely followed by offers in the banking, financial services and insurance (BFSI) and e-commerce sectors,” said a statement released by the institute on Friday evening.

The institute further highlighted that despite the challenges brought on by the pandemic, around 50% of the batch bagged pre-placement offers (PPOS) through autumn internship and corporate competitions. In all, 131 companies participated in the placement process this year, including 75 firsttime recruiters.

“What looked like a particularly difficult season, harking back to the times of the global financial crisis, has ended on a high. Despite the extremely challenging environment, we have maintained compensation at the levels achieved last year,” said Abbasali Gabula, professor and associate director, external relations, SPJIMR.

Despite the challenging environment, we have maintained compensation at the levels achieved last year. ABBASALI GABULA, professor and associate director, external relations, SPJIMR.