The Class of 2017 at the Indian Institute of Management (IIM) Visakhapatnam managed to draw an average salary of Rs.11.59 lakh, according to the Interim Final Placement Report 2016-2017.
While 46 eligible students from the first graduating batch participating in the final placements process, 80% of the class landed positions across companies, sectors and industries,
The 35 accepted offers netted a salary of Rs.10.92 lakh. Four students secured pre-placement offers from Directi, KPMG, Sutherland Global, and Technology Frontiers based on their performance in their summer internships.
Another 31 students accepted offers in the final placement process, one student will join the FPM program at IIM Ahmedabad this year and one offer was held in abeyance.
The highlight of the final placements, according to the Career Development Services Office, was the participation of multiple departments of Andhra Pradesh Government which recruited 10 students for prestigious consultant designation roles.
The 25 accepted offers from 15 companies were from HSBC (3), ICICI Lombard (3), Sutherland Global Services (3), 4tiGo (2), Amul (2), Directi (2), GMR (2), Decimal Point (1), HDFC Life (1), KPMG (1), RAXA-GMR (1), Sasken Technologies(1), Stat Decision Labs (1), Tarnea Technology Solutions (1) and Technology Frontiers (1).
Companies recruited across many industry verticals and offered roles in the areas of consulting, financial research, analytics, marketing, strategy, business development, banking, etc.
The top quartile of offers accepted (top 11) averaged Rs.14.57 lakh while the next quartile of offers accepted (next 11) averaged Rs.11.16 lakh. The average salary of the 35 accepted offers was Rs.11.59 lakh and median Rs.10.92 lakh.
In the industry spread of the offers, Government Consulting accounting for 31%, Banking Financial Services and Insurance (20%), Technology (14%), IT/ITES/Analytics (15%), FMCG (6%), Logistics (6%), Infrastructure (6%) and Others (2%).
In functional spread, Consulting claimed 28%, Marketing and Sales (23%), Operations (11%), Strategy (9%), Analytics (9%), General Management (6%), Finance (3%), Product Management (3%) and Others (8%).
Selection was in progress for the remaining 9 students by corporates and Andhra Pradesh Government.
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IIM Visakhapatnam, set up in 2015, is being mentored by IIM Bangalore. The transit campus was inaugurated on September 21, 2015 with one section of students in the two-year Post Graduate Programme in Management under the mentorship of IIM Bangalore.
The temporary campus of the institute is located at the Andhra Bank School of Business building in Andhra University premises.
Necessary renovation was done to provide state-of-the-art facilities such as Seminar Room with Video Conferencing, Class rooms, discussion rooms, library, student lounge and cafeteria etc.
For the IIMV batch of 2017, almost all courses were taught by IIMB faculty (current and retired) or by visiting faculty who teach at IIM Bangalore.