Microsoft Hires IIM Sambalpur Student At Annual Salary Of Rs 64.61 Lakh

IIM grads scoring big in placements is something we are all accustomed to hearing every year. While the percentage of variation in average CTC varies from year to year, there is always one institution from the big league that grabs eyeballs when it comes to striking gold with a lucrative offer. This year, the newsmaker, so far, has been Avni Malhotra from IIM Sambalpur with a CTC of 64.6 lakhs, a 146.7 percent steep rise in comparison to last year's top package offered to a student from the institution. 

Likewise, the numbers for average and maiden salaries have also shown positive trends this year. 

A report published by the institution sheds light on the actual figures and total placements achieved at IIM Sambalpur for 2023. 

"IIM Sambalpur's 7th MBA batch of 2021-23 has achieved a 100% placement for its outgoing batch of 167 students. The average salary has significantly increased by 26.06%, reaching Rs. 16.64 LPA, while the median salary has also risen by 28.8% reaching Rs. 16.00 LPA.  

The average CTC of the top 25% batch has also increased significantly, from Rs. 18.79 LPA to Rs. 25.19 LPA. Furthermore, female students have excelled, with an average salary of 18.25 LPA, while male candidates have an average of 15 LPA. The highest international placement also witnessed a staggering rise to 64.19 LPA", says the placement report.

While numbers tell a positive story on the placement front, the pedigree and the number of participating organisations is a good signs for any educational institution. It is an ominous indication that employers and recruiters view the educational institution as an oasis of talent and an employable workforce.

While the placement drive saw the participation of more than 130 recruiters, the takeaway is the 56 percent increase in first-time recruiters. 

The top recruiters include Microsoft, Tolaram, Adani, and Vedanta among others, says the final placement report.

During a time when tech companies are getting called out for mass layoffs and cost-cutting measures, Microsoft hiring a bright student with a fat paycheck is a good indicator that top companies are looking at hiring and nurturing promising talent beyond the economic downturn.

While Avani Malhotra has become the poster girl for IIT Sambalpur this year, time will tell how the other top management and engineering institutes fare when it comes to placements amid a global recession.