IIM Vizag records 100% placements, highest package at Rs 32 lakh – Times of India

VISAKHAPATNAM: The final placement season of the Indian Institute of Management-Visakhapatnam (IIM-Vizag) has been completed with 100 percent placements for the seventh consecutive year. The institute of national importance broke its previous records to achieve the highest ever average package for students with work experience at Rs.17.2 lakhs per annum (LPA) and for the overall batch at Rs 15.5 LPA. The highest salary package stood at Rs 32 LPA.
The top 10% of students received an average package of Rs 22.7 LPA, while the top 25% got an average package of Rs 20 LPA. The top 50% have been offered an average package of Rs 18 LPA.
Held on a rolling basis, the placement season witnessed around 100 companies participating in the process and making multiple offers, including consulting, strategy, finance, product management, analytics, brand management, marketing, human resources, information technology, etc.
Speaking to ToI, IIM Vizag Director Prof M Chandrasekhar said that the credit goes to their students, who have put in fantastic performance and helped IIM-Vizag surpass the high record of the previous year. “They only proved the perceptions wrong about the extra challenges they might face on account of their being a relatively fresh cohort. In this process, they demonstrated that the academic grounding they received in the institute and the valuable experience they gained during their summer internships, are more than a match. Our faculty also deserve rich praise as well. ,” said Prof Chandrasekhar.

Chairperson, career development services and alumni relations, IIM-Vizag, Prof Deepika Gupta said; “With the global recession being predicted, we were slightly concerned about the outcome of the placement season this year. In addition, the 2021-23 batch was unique in terms of it being dominated by freshers. However, the batch outperformed our expectations and provided results of 100% placements. I thank my career development services’ team, students’ placement committee, and all the students for a challenging task made simple, and successfully accomplished,” said Prof Gupta.
“There has been an increase in the number of recruiters willing to partner with the institute. This is an indication of the rapid strides that the institute has made, notwithstanding the challenges posed by the headwinds and aftereffects entailed by the Covid-19 pandemic. Kudos to our CDS and PlaceCom teams, who facilitate and catalyse impressive and trend-setting placement outcomes, always,” added IIMV director Prof M Chandrasekhar.
Prof Deepika Gupta added that this placement season was conducted entirely from their permanent campus in Gambheeram, a new experience not only for the students but also for the Institute. “Our resilient and responsive systems, people and processes made us quickly utilise the infrastructure gainfully and feel at home,” she added.
IIM-Vizag placements packages for the 2023 batch
* Average package for students with work experience: Rs.17.2 lakh per annum
* Average package for the overall batch: Rs.15.5 LPA.
* Highest package: Rs.32 LPA
* Average package for the top 10% of students: Rs 22.7 LPA
* Average package for the top 25% of the students: Rs 20 LPA
* Average package for the top 50% of the students: Rs.18 LPA
* IT and consulting (34%) bet big on fresh talent.
* This was followed by banking, financial services and insurance sector (26%), manufacturing (14%) and retail (5%).
* Logistics (5%), FMCG (4%), e-commerce (3%) have their share in the recruitment.
* The other sectors such as healthcare, real estate and construction, telecom, etc contributed to 9% of the total placements.
* About 100 companies participated in the recruitment process.
* 61 are new recruiters