While students at most premier management institutions are nervously gripping the edge of the placements seat, six undergraduate students at Shri Ram College of Commerce (SRCC), University of Delhi, have walked away with offers from Deutsche Bank with a salary package of Rs 16.5 lakh per annum.
But the SRCC offer is tempered with a stiff dose of reality: the offers are half of what the bank had given out to students of the college last year, and none of the postings are abroad.
The Rs 16.5-lakh salary package is the highest at SRCC so far. "This includes a fixed salary of Rs 10.5 lakh, a joining bonus of Rs 3 lakh and a performance bonus of Rs 3 lakh per annum," says CS Sharma, professor in charge of placements at SRCC. The bank has offered jobs to three students each in global markets and corporate finance.
Over the past two years, the bank had offered jobs to two students from SRCC, with an annual salary package of Rs 39 lakh in 2011 and Rs 32 lakh in the year before. The jobs came with training in London and posting at a global location.
The bank did not comment on its hiring plans from undergraduate colleges. SRCC appears to have scored over other colleges due to its high cut-off and a legacy for quality education.
In June 2011, the 'first list' cut-off for science students at SRCC, was at 100%. "Employers are more likely to believe that even the average students from SRCC would be better than those at colleges with a lower cut-off," explains NS Rajan, partner & global leader - people and organisation at Ernst & Young.
Chinmaya Golecha, a 20-year-old student of BCom from SRCC, is among those who have received offers from Deutsche this year. "We were hoping the bank will come up with offers similar to the past two years, but that did not happen. The bright side is, there are six people likely to get hired this year, instead of only one," he said. The second highest offer in terms of salary package has come from Citibank for two students, at Rs 10.5 lakh per annum. Citibank had hired only one student from SRCC last year.
SRCC has placed about 160 students so far. Among other recruiters at SRCC are McKinsey & Co, Bain & Co, Deloitte India and KPMG. The consulting firms have offered annual packages between Rs 2.2 lakh and Rs 8 lakh. KPMG alone has hired 24 students from the college. The placement process is expected to continue till April.
Apart from SRCC, the bank had also made presentations to students from Lady Shri Ram College for Women(LSR) and St Stephen's College in Delhi, but no offers are said to have been made so far at these colleges. While St Stephen's College did not disclose details regarding job offers, LSR is hopeful Deutsche Bank will make offers in the next few days.
But the SRCC offer is tempered with a stiff dose of reality: the offers are half of what the bank had given out to students of the college last year, and none of the postings are abroad.
The Rs 16.5-lakh salary package is the highest at SRCC so far. "This includes a fixed salary of Rs 10.5 lakh, a joining bonus of Rs 3 lakh and a performance bonus of Rs 3 lakh per annum," says CS Sharma, professor in charge of placements at SRCC. The bank has offered jobs to three students each in global markets and corporate finance.
Over the past two years, the bank had offered jobs to two students from SRCC, with an annual salary package of Rs 39 lakh in 2011 and Rs 32 lakh in the year before. The jobs came with training in London and posting at a global location.
The bank did not comment on its hiring plans from undergraduate colleges. SRCC appears to have scored over other colleges due to its high cut-off and a legacy for quality education.
In June 2011, the 'first list' cut-off for science students at SRCC, was at 100%. "Employers are more likely to believe that even the average students from SRCC would be better than those at colleges with a lower cut-off," explains NS Rajan, partner & global leader - people and organisation at Ernst & Young.
Chinmaya Golecha, a 20-year-old student of BCom from SRCC, is among those who have received offers from Deutsche this year. "We were hoping the bank will come up with offers similar to the past two years, but that did not happen. The bright side is, there are six people likely to get hired this year, instead of only one," he said. The second highest offer in terms of salary package has come from Citibank for two students, at Rs 10.5 lakh per annum. Citibank had hired only one student from SRCC last year.
SRCC has placed about 160 students so far. Among other recruiters at SRCC are McKinsey & Co, Bain & Co, Deloitte India and KPMG. The consulting firms have offered annual packages between Rs 2.2 lakh and Rs 8 lakh. KPMG alone has hired 24 students from the college. The placement process is expected to continue till April.
Apart from SRCC, the bank had also made presentations to students from Lady Shri Ram College for Women(LSR) and St Stephen's College in Delhi, but no offers are said to have been made so far at these colleges. While St Stephen's College did not disclose details regarding job offers, LSR is hopeful Deutsche Bank will make offers in the next few days.
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At Hansraj College, at least 75 students have received offers from companies such as Google India, Ernst & Young, Deloitte India, Milestone Interactive and Verity Knowledge Solutions.
Another 25-30 offers are in the process of getting finalised, says Devender Kundalia, one of the placement coordinators.
The annual salary packages being offered so far range between Rs 2.4 lakh and Rs 5.6 lakh. Jesus & Mary College too has placed 30 to 40 students so far, with a salary package of up to Rs 4.5 lakh per annum.
In Mumbai, however, placements for undergraduate students do not seem to be attracting such hefty pay packages.
While St Xavier's College did not comment on its placement process, Sydenham College of Commerce & Economics said it has placed about 40 students so far. List of recruiters at Sydenham include Google India, Ernst & Young and Protiviti.
JP Morgan and Morgan Stanley are also likely to participate in placements at the campus in the coming days, said Jharna Kalra, placement coordinator at the institute. Ms Kalra did not disclose any details regarding salary packages being offered this year, but said Ernst & Young had offered about Rs 3 lakh per annum at the college last year. This was the highest package at the college during the previous placement season.
Another 25-30 offers are in the process of getting finalised, says Devender Kundalia, one of the placement coordinators.
The annual salary packages being offered so far range between Rs 2.4 lakh and Rs 5.6 lakh. Jesus & Mary College too has placed 30 to 40 students so far, with a salary package of up to Rs 4.5 lakh per annum.
In Mumbai, however, placements for undergraduate students do not seem to be attracting such hefty pay packages.
While St Xavier's College did not comment on its placement process, Sydenham College of Commerce & Economics said it has placed about 40 students so far. List of recruiters at Sydenham include Google India, Ernst & Young and Protiviti.
JP Morgan and Morgan Stanley are also likely to participate in placements at the campus in the coming days, said Jharna Kalra, placement coordinator at the institute. Ms Kalra did not disclose any details regarding salary packages being offered this year, but said Ernst & Young had offered about Rs 3 lakh per annum at the college last year. This was the highest package at the college during the previous placement season.
The huge disparity between what undergraduate students are getting in Delhi vis-a-vis in Mumbai is perhaps due to employers' belief that the best lot of students are at SRCC. "Companies hire from one college based on factors that include, whether this institute serves as a one-stop shop for the employer's talent needs, is there an acknowledged pedigree and do the competitors hire from the same institute?" explains Rajan of E&Y.
During last year's placements at SRCC, Shrey Gupta bagged the highest pay package in Delhi University, at Rs 39 lakh. He bettered the record of his senior, Adit Mathur, who received a Rs 32-lakh pay package from the same bank, which was the highest salary in 2010. While Gupta preferred to work in India, Mathur took up the offer.
During last year's placements at SRCC, Shrey Gupta bagged the highest pay package in Delhi University, at Rs 39 lakh. He bettered the record of his senior, Adit Mathur, who received a Rs 32-lakh pay package from the same bank, which was the highest salary in 2010. While Gupta preferred to work in India, Mathur took up the offer.
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