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IIM-A, XLRI and MDI have reported that consulting firms are the top recruiters in 2020 PGP placements, followed by BFSI organisations. 57% of the job offers at MDI and 26% of the offers at XLRI were made by consulting firms. IIM-A students also saw a large share of offers coming from the consulting sector.
As per the top B-Schools in India, consulting firms have become the top recruiters for the brightest management students in India. Not only are consulting firms recruiting a major share of management students at the campus placements of top management colleges in India but they are also offering some of the most lucrative salaries in the field. The preference of consulting firms for students who have a Master of Business Administration (MBA) / Post Graduate Diploma in Management (PGDM) degrees from these institutes is easy to spot.
With placements being currently conducted or recently concluded at some of the top MBA colleges in India, it is hard not to spot this trend. And institutes such as the Indian Institute of Management, Ahmedabad (IIMA), Xavier Labour Relations Insitute (XLRI) and Management Development Institute (MDI) agree the best job offers made to management students in India in 2020 have from consulting firms.
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At IIMA placements, as much as 50 placement and pre-placement offers were made by two of the biggest consulting firms in the world -- Boston Consulting Group (BCG) and McKinsey & Company. BCG and McKinsey are not the only companies that hired IIM-A students, however, some of the other major recruiters at IIMA placements were also consulting firms. Companies such as Goldman Sachs, Deloitte, Accenture Strategy and Bain & Co hired IIM-A graduates for the sectors of management consulting, asset management, investment banking and markets etc.
"While this trend is primarily being seen at the Indian Institutes of Management (IIMs), it is also being repeated at some of the other best institutions proferring management education in India. Two of the other top colleges for MBA in India -- XLRI and MDI -- have also reported similar trends in their campus placements."
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At MDI placements, 63 offers came from PwC, ICICI Bank, Deloitte, Airtel and IDFC Bank. Consulting firms had a major share in the number of job offers made at MDI with a staggering 57% of the total job offers at MDI coming from organizations working in the consulting business.
Again, as per the placement data of XLRI, 26% of the job offers made in 2020 placements were from consulting agencies. The companies that made the most number of job offers at XLRI campus placements were KPMG, one of the Big Four accounting organizations and PricewaterhouseCoopers (PwC), a major multinational firm operating in the consulting firms.
Last year as well, BCG was the firm that made the most number of offers at XLRI campus placements and the Indian Institute of Management, Bangalore (IIMB) had reported that 30% of the job offers at IIMB placements had come just from consulting firms.
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The second most job offers at the campus placements of these institutes came from organisations working in the Banking, Financial Services and Insurance (BSFI) sector.
The BFSI sector offered the highest salaries at XLRI placements with packages going up to Rs. 50 lakhs. XLRI attributed this to the popularity of finance specialisation and "a vibrant appreciation for finance in the form of finance associations and an in-house XLRI Student Investment fund". At IIM-A, 18 job offers came from JP Morgan Chase & Co and Avendus, both big names in the BFSI sector.
Many of the top Indian business schools have reported 2020 to be a fruitful year for MBA placements. Institutes such as the Indian Institute of Management, Kozhikode (IIM-K), the Indian Institute of Management, Lucknow (IIM-L), MDI and XLRI have reported 100% placements and a high number of management graduates have been recruited and offered handsome salaries.
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Going by the trend, the scope for MBA specializations in India is better than ever and specializations such as an MBA in Finance offer enhanced chances to management aspirants to find a job in some of the biggest multinational organizations and earn high salary packages.
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