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KOLKATA, March 19

FOR the first time, the three leading IIMs of Ahmedabad, Calcutta and Bangalore have joined hands to finalise a placement fixture to get rid of the ``fish market sort of situation'' and offer a better deal both to employers and the graduates.

This was announced by Mr Shekar Chowdhury, Director of IIM Calcutta. He was briefing the press on the just concluded placement exercise of his institute.

Earlier, the IIMs used to complete the placement exercise within a day or two and then make grand announcements on the success of the programme. However, this year, the annual placement of management graduates in each IIM was spread over a week.

Moreover, the IIMs also scheduled their separate placement exercises is such a manner that the recruiters could visit all the campuses and there was no rushing from one campus to another.

This year, the placement exercise was started off by IIM Lucknow in the last week of February. Then it was Bangalore's turn. Their placement exercise started on March 5 and was followed by IIM Calcutta on March 8. IIM Ahmedabad was the last on March 10.

The entire recruitment exercise in the major IIMs was spread over a month. Earlier, the process usually completed within a fortnight.

Meanwhile, in IIM Calcutta's placement for this year, 297 jobs were offered for 245 graduates by 79 companies. Of these, 54 were lateral offers, 25 pre-placement offers and 11 foreign offers. Hindustan Lever and ICICI Bank made 11 and 22 job offers respectively, which were by far the largest they offered in any B-school, Mr Chowdhury said.

In a sector-wise study, it was found that IT and IT Enabled Services (ITES) companies offered 94 jobs marking a share of 31 per cent. It was followed by financial services with 61 offers, a share of 21 per cent.

The domestic median salary for lateral jobs was Rs 7 lakh per annum and the domestic salary for entry-level executives was Rs 6.25 lakh per annum. The highest domestic salary was Rs 14 lakh per annum and it was offered by McKinsey & Co. The median salary offered by foreign companies was $ 76,000 per annum and the highest offer was $ 95,000 per annum. This offer was made by Deutsche Bank.

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