Mumbai: Start-ups don't recruit students from JBIMS; average salary is Rs 18 lakh

Even as the Maharashtra government is excited about encouraging start-ups, there were no start-up to recruit students at Jamnalal Bajaj Institute of Management Studies (JBIMS) – a prominent management institute in the city. All placements were done through ‘summers only’ policy wherein companies have preferred to hire those students who have already worked with them for a short duration during summer internship. The 50th batch of MMS at JBIMS has concluded its Final placement process and declared a report on Monday.

The report showed that while the highest salary offered is of Rs 26 lakh in the consulting sector, the average salary this year has reached Rs 18.13 lakh. A whopping 77 companies participated in the recruitment process.

Sharing a trend seen this year, Dr. Chandrahauns R Chavan, Director, JBIMS said, “Most of the appointments were done following the summers only pattern. These students have already worked with these companies during summer internships. This way company and student are familiar with each other and know each others requirement making it convenient for companies to select.”

Several high profile banks such as Citibank, Standard Chartered Bank, HSBC, Yes Bank, ICICI Bank, JP Morgan Chase, Kotak Mahindra Bank, Goldman Sachs, CRISIL, HDFC Bank and Motilal Oswal recruited in large numbers for niche roles like Investment Banking, Global Banking, Risk Management, Equity Research, and others. FMCG giants like HUL, P&G, ITC, Nestlé, Mars – Wrigley, Mondelēz, L'Oréal and Future Group offered lucrative roles to students. There were also recruiters from the e-commerce domain like Google and Amazon who offered roles in Marketing and Operations. Students have also bagged jobs with leading conglomerates like Aditya Birla Group, Hinduja, Mahindra, RIL, Welspun and the likes.

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