This has been the case for the founding Global MBA class of a new business school in Mumbai, BITSoM, who have just achieved placements in popular sectors, including consulting, finance, and technology. BITSoM was founded in 2021 and the School of Management sits within the Birla Institute of Technology and Science (BITS).
Find out about the top-tier recruiting companies and impressive starting salaries of BITSoM's founding class.
BITSoM's founding class achieve impressive salaries
The average gross salary of the founding class—listed as Cost to Company or CTC—sits at INR 23.85 lakh ($29,000) per annum, impressive for the school’s first year of placements.
The highest CTC offered to any student was INR 50.10 lakh ($61,000), while the top 10% of the MBA batch were placed with an average CTC of INR 37.02 lakh ($45,000) per annum.
The average for the top 30% of BITSoM's founding MBA batch received an average salary of INR 30.42 lakh ($37,000), and the top half of the class had an average CTC of INR 28.17 lakh ($34,300).
The post-MBA salaries were significantly above students' pre-BITSoM wages. Students with prior full-time work experience with salaries of an average of INR 7.34 lakhs ($8,900) scored placements with an average post-MBA CTC of INR 20.81 lakhs ($23,350).
An MBA focused on experiential learning and entrepreneurship
During their two years at BITSoM's students were equipped for their new roles with a program valuing experiential, entrepreneurial learning methods.
The BITSoM MBA takes a holistic approach to its academics, with an innovative curriculum driven by global experts from across industries and academia. This involves Winning at the Workplace (WaW) classes which focus on the holistic, soft skills side of running a business alongside the core business skills.
WaW classes run parallel throughout the MBA program, including Embracing Change & Uncertainty and Negotiations.
The core curriculum offers subjects such as marketing, strategy, and finance in the first year and five specializations in the second–Entrepreneurship & Innovation, Finance & Investing, E-commerce & Digital Leadership, Leadership & Strategy, and Marketing & Consumer Insights.
Considering the quality of the placements and salaries, the innovative, new-age curriculum seems to have been a draw for companies.
"This outcome has been possible due to our unique curriculum, the personalized developmental inputs, the efforts of a stellar faculty pool from across the world, and a top-notch career services team," Dr. Ranjan Banerjee, Dean BITSoM, said.
MBA recruiters at BITSoM include Bain, EY, McKinsey, JP Morgan Chase, and others
Along with high starting salaries, BITSoM's class of 2021-23 were recruited by prominent companies across various industries, including General Management, Consulting, Sales and Marketing, Product Management & Technology, and Finance.
Numerous well-known companies hired from the BITSoM founding class, including top-tier consulting firms such as McKinsey, Bain, Kearney, EY, PwC, KPMG, and Deloitte India, among others.
Within the recruiting consulting firms, all placed students were offered positions in management consulting, tech consulting, human capital consulting, or deals and M&A.
Along with high-level consulting firms, recruiters from the BFSI sector scooped up students from BITSoM's graduating class.
These included companies such as JP Morgan Chase (investment banking), Cervin Ventures (venture capital), Eight Capital (private equity), Aditya Birla Capital, ICICI Bank, Kotak Mahindra Bank, Yes Bank, and FlexiLoans.
BITSoM also saw interest from tech and computer companies such as Zapcom, Accenture, and HSBC Technology and roles in Product Management and Technology.
Other employers include Hindustan Unilever, Eureka Forbes, Bosch, Signify, BP, and HT media.
"It is rare for a school in its first year to have companies like McKinsey & Co, Bain & Co, AD Little, Kearney, Hindustan Unilever, JP Morgan Chase, and BP hiring from its founding class, and offering the kind of roles that they did.
"We are very happy with the outcomes, and at the same time, thankful to these organizations who have put their faith in the School and our students," Mr. Uday Virmani, Assistant Dean, External Engagements, said.
What's A Day Like At Business School In India?