Indore: Despite economic slowdown since demonetisation in the country, students of Indian Institute of Management Indore are seeing significant hike in average salary.
A closer look at the campus placement records revealed that the average salary of IIM Indore students increased by 46.23 percent in last five years.
The average salary of students was Rs 15.67 LPA in 2016 (the year in which demonisation was done) and Rs 22.92 LPA in 2020. The average salary was Rs 16.23 LPA in 2017, Rs 18.17 LPA in 2018 and Rs 19.4 LPA in 2019.
The institute had witnessed 3.58 per cent hike in average in 2017, 11.95 in 2018, 6.78 in 2019 and 18.12 in 2020.
The hike in average salary is maximum compared to previous years in the financial year 2019-20 wherein the GDP growth was around 5 per cent.
Not only the average salary, highest domestic package also increased.
The highest domestic package was Rs 32 LPA in 2016, which increased to Rs 37 LPA in 2017. The highest domestic package dropped to Rs 33.04 LPA in 2018 but it again increased in 2019. In 2019, the highest domestic package was Rs 40.5 LPA.
Breaking all past records, IIM Indore achieved highest domestic salary of Rs 50 LPA in campus placements-2020 witnessing an increase of 23.5 percent over the previous year’s highest domestic package.
Consulting, Sales & Marketing and Finance were the most sought after domains among the many roles that were offered in placements-2020. The batch also saw candidates get two international offers this year.
As per the report issued by IIM Indore, all the 578 students of Post Graduate Programme (PGP)2018-20 and the 5 Year Integrated Programme in Management (IPM) batch got placed.
More than 160 recruiters participated in the IIM Indore campus placements 2019-20 including Accenture, Aditya Birla Group, Amazon, American Express, ArcelorMittal & Nippon Steel, Asian Paints, AstraZeneca, Axis Bank, to name a few.
Last 5 Years Placement figures
Year Average salary Highest domestic salary
2016 Rs 15.67 LPA Rs 32 LPA
2017 Rs 16.23 LPA Rs 37 LPA
2018 Rs 18.17 LPA Rs 33.04 LPA
2019 Rs 19.4 LPA Rs 40.5 LPA
2020 Rs 22.92 Rs 50 LPA
We are delighted that once again the top companies of the country and the MNCs have reposed their faith in our students. The hard work put in by our students and the quality business education imparted by the Institute is reflected in these placement results.
In the years to come, we will continue to strengthen our engagement with the industry and ensure that we continue to create socially conscious responsible leaders that help to make this world a better place.” Prof Himanshu Rai, director, IIM Indore
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