Tuesday, April 15, 2008

Industry Reviews|Great Lakes placement sees fewer IT,BFSI firms

Recruiters From Manufacturing & Consulting Cos Increase; Average Salary Up Marginally

THE GREAT Lakes Institute of Management (GLIM) saw a decline in the number of IT and financial services firms visiting the campus this year, giving way to more consultancies and manufacturers. Average salaries went up marginally.
However, the placement season for the fourth batch of Great Lakes saw a 40% jump in the number of recruiters, with 27 companies making a debut at the campus this year. Average salary went up to Rs 9.7 lakh from Rs 9.3 lakh a year ago. The highest salary was Rs 12.1 lakh a year.
“The notable trend this year is that the IT and BFSI component has come down while the recruitments from FMCG and manufacturing has risen,” said Mr S Sriram, director, Great Lakes. For example, 60% of the students were placed in the IT sector last year, but this year it is down to 48%. At the same time, 7% of the students were recruited in the consulting stream last year; this year it is 11%.
A total of 165 students, with an average work experience of three years, sat for placements this year. While students with twofour years of work experience got an average pay of Rs 9.52 lakh per annum, the students with more than four years of work experience were paid Rs 12.1 lakh per annum.

The recruiters included KPMG, Technopak & Accenture in consulting, HSBC, Citibank & Kotak in BFSI, Caterpillar, Cummins & Tata Motors in manufacturing, Cognizant, Infosys & Satyam in IT. Though IT scored over the other segments in terms of the number of visitors, it wasn’t high in the number of offers accepted.

Source: Economic Times, Chennai

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