Pay packets for MBA Graduates are set to hit a new high as companies bet on optimism.
Companies and business schools expect the competition for top talent to be intense as the job market for most sectors has turned positive – a trend endorsed by the latest campus compensation according to a study conducted by Aon India.
“It’s a good job market; almost every sector is quite positive. We expect competition to hot up,” said Rahul Guha, managing director and senior partner, India, at Boston Consulting Group.
The Aon data projects a 6.4% annual increase in compensation offered to students at Indian top tier colleges this year against 4.9% last year and near to nil movement in 2020.
Some recruiters such as Axis Bank plan to significantly increase their fresher intake and visit more campuses this year amid attrition and rise in demand. “We are doubling our intake across MBA colleges, and increasing the number of campuses we are visiting,” said Rajkamal Vempati, Head-HR at Axis Bank.
Aditi Mahadevan Nair, chief human resources officer at Citi South Asia, said the bank anticipates an upward shift in compensation offered by banks in B-schools campuses salaries as there is an increase in salaries across industries. “Citi will be reviewing compensation for the coming year in line with our global compensation and benefits philosophy,” she said. Companies are betting on the optimism that demand will be high in the future, and it’ll be a V-shaped recovery curve as many expect the disruptions caused by the Covid-19 pandemic to end soon.
Several companies that under-recruited in the past two years are also expected to step up hiring this year.
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