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Highest Salary Package At IIM Indore 2023 Placement Is Double Previous Year's Top Offer

Despite challenging times, IIM Indore enjoyed 100% graduate placement, with an average salary package of INR 30.21 lakh

Tue Apr 4 2023

Indian Institute of Management Indore (IIM Indore) has recorded 100 percent placement for the MBA batch of 2021-23. The final round of placement recorded the highest annual salary package. An IIM Indore student has received a domestic job offer with a top salary of INR 1.14 crore (approximately $140,000), which marks a significant increase from the previous highest salary of INR 49 lakh (just under $60,000) offered during the 2022 placement session. According to an official from IIM Indore, the latest offer represents a hike of INR 65 lakhs in the highest salary package.

The top salary package offered this year is 132% higher than the previous year. A total of 568 students from the Post Graduate Programme (PGP) and Integrated Programme in Management (IPM) participated in the final placement drive and all of them were placed, achieving a 100% placement rate.

Professor Himanshu Rai, Director of IIM Indore, said the institute had the capacity to adapt to changing needs and produce socially responsible leaders capable of motivating and empowering others.

“We at IIM Indore have always been steadfast in strengthening our industry engagement by providing world-class management education and delivering sustainable value to our stakeholders.," he said. "This is evidenced by the stellar placements secured by our students in the face of challenging times. This unwavering trust demonstrated by our recruiters has bolstered our confidence in our ability to meet the demanding and ever-evolving requirements of the future."

Students were offered an average salary package of INR 30.21 lakh ( around $36,800) per annum, which marks a 20.8% year-on-year rise. Meanwhile, the median compensation package increased by 12.9% from the previous year to INR 27.20 lakh (around $33,100) per annum.

More than 160 recruiters participated in the recruitment drive, with around 80 of them new recruiters to IIM Indore. The sectors that witnessed the greatest participation were consulting, banking, financial services and insurance (BFSI), and technology, media and telecommunications (TMT), which together accounted for more than 75% of the total offers made.

The highest number of job offers, constituting 29%, were made in the consulting sector, followed by sales and marketing, as well as finance, both accounting for 18% each. General management, HR, leadership, and operations together received 19% of the job offers, whereas the information technology sector received 16% of the job offers.

"We look forward to deepening our industrial relations by creating socially-conscious leaders imbued with the ability to empower and inspire others," added the director.

Entry eligibility criteria for Indian students

According to IIM Indore, 20% weighting will be given to the CAT 2022 score for the 2023 intake, and a high weighting of 74% will be given to the Class X and XII marks, for shortlisting the candidates for the final selection round. To qualify for the shortlisting process for the personal interview (PI) round, candidates must have a CAT 2022 sectional score of 80 percentile and an overall percentile of 90.

Entry eligibility criteria for international students

For international students to join IIM Indore, candidates must have a valid Graduate Management Admission Test (GMAT) score with a minimum overall score of 700, as on December 31, 2022. A 30 percent weighting will be given to GMAT Score and 70 percent weightage to the PI to calculate the composite score. The final selection of students will be based on the merit generated using the Final Composite Score (FCS).