SPJIMR Placements 2024: No increase in Average Salary (Rs 33 Lakhs) Amidst Challenging MBA Job Market; Consulting, FMCG, BFSI, Tech Top Sectors

Bharatiya Vidya Bhavan's S.P. Jain Institute of Management and Research, Mumbai has successfully completed its Final Placements for PGDM Class of 2024 amidst the global slowdown and associated impact on campus placements. While the highest salary at SPJIMR placements 2024 has gone up at Rs.81 LPA, the average salary did not see increase from last year and remained at Rs.33 LPA. The process saw 72 companies onboarded and rolling out speedy offers, reflecting the trust in the value-based leadership style of the MBA participants. FMCG, Consulting, BFSI, Tech emerged as the top recruiting sectors.

On the successful completion of placements, Prof. Renuka Kamath, Associate Dean - Full Time Programmes, said, "Amid uncertain times, the support from our industry partners is invaluable to us. We appreciate their commitment in hiring SPJIMR’s young talent who are not only industry ready, but also socially-conscious".

SPJIMR PGDM Placements 2024: Highlights

• Average Salary: Rs.33 LPA (Similar to last year)
• Highest Salary: Rs.81 LPA increased from 77.8 LPA last year
• Median Salary: Rs.31.50 LPA ( No increase compared to last year)
• PGDM 2022-24 Batch Size: 292
• Number of participating companies: 72
• Number of first-time recruiters: 33
• Total Number of Pre-Placement Offers (PPOs): 138
• Top Recruiting Sector: Consulting with 35% offers
• Top Recruiters include Accenture, BCG, HUL, Godrej, ITC, KPMG, P&G, Deloitte, EY,  Kearney, KPMG,  PwC,  Colgate-Palmolive, Nestle,Barclays,  Edelweiss, Cisco, Tata Digital, Aditya Birla Group, Capgemini, TAS among others

Consulting sector emerged as the top recruiting sector, with 35 % of the batch receiving offers. The participating companies included Accenture Strategy, Boston Consulting Group, Deloitte, GEP Worldwide, Kearney, KPMG, Praxis Global Alliance and PwC US Advisory among others. This year SPJIMR also received international offers by Deloitte. Both Average and median salary were similar to last year. Over 70 percent of the batch secured offers above Rs. 30 lakhs per annum and over 90 percent in excess of Rs. 25 lakhs per annum.

A record number of front-end investment banking roles were offered by marquee firms like DC Advisory Partners, Goldman Sachs, JM Financials, Nomura, and O3 Capital. Offers in investment banking tripled compared to last year. Buy side firms like Hedge Funds, Venture Capital and Asset Management also visited the campus, with offers from Pinpoint Asset Management, Neo Wealth and Asset Management and Nuvama Wealth. General Management roles were offered by leading recruiters such as Aditya Birla Group, Capgemini E.L.I.T.E., Mahindra GMC, RPG and Tata Administrative Services. In addition to the regular recruiters from SPJIMR, the campus onboarded 33 first-time recruiters from various sectors.

Over 47% of the batch was awarded Pre-Placement Offers via Autumn Internships and Corporate Competitions with leading companies such as Aditya Birla Group, Accenture Strategy, Boston Consulting Group, Colgate-Palmolive, Hindustan Unilever Limited, Procter & Gamble, and Tata Administrative Services among many others.

Top Offers

• 7% (6.5%) of offers equal to or greater than INR 40 LPA
• 34% of offers equal to or greater than INR 35 LPA
• 71% of offers equal to or greater than INR 30 LPA
• 90% of offers equal to or greater than INR 25 LPA

Autumns Internship Highlights:

• Number of companies: 53 (28% New recruiters)
• Average Stipend for two months: INR 3,15,328
• Median Stipend for two months: INR 3,00,000
• Maximum Stipend for two months: INR 4,40,000

Top Recruiters at SPJIMR Mumbai
SPJIMR witnessed companies, from all across sectors and domain,  participating in its placement process 2024. Some of the prominent recruiters across the sectors and domains include  Accenture Strategy, Boston Consulting Group, Deloitte, Ernst & Young, GEP, Kearney, KPMG, PwC,  Asian Paints, Colgate-Palmolive, Hindustan Coca-Cola Beverages, Hindustan Unilever Limited, Nestle, Procter & Gamble, American Express, Barclays, BDA Partners, Edelweiss, JM Financial, O3 Capital, Pinpoint Asset Management, WEH Ventures, BookMyShow, Cisco, Games 24x7, MakeMyTrip, PayTM, Play Simple Games, Samsung Research India, Bangalore, ServiceNow, Tata Digital, Aditya Birla Group, Capgemini E.L.I.T.E., Mahindra GMC, Tata Administrative Services among others.

PPOs: Trends Continue
Despite the challenges brought by the pandemic, 47% of the batch bagged PPO/PPI opportunities through the autumns internship and corporate competitions with leading corporates. Out of the 292 students, 138 received PPOs

Sectoral Placements: Key Highlights
Consulting/IT Consulting companies have given the maximum number of Offers, which made to over 35% of the batch by Accenture Strategy, Boston Consulting Group, Deloitte, Ernst & Young, GEP, Infosys Consulting, Kearney, KPMG, Miebach, Nomura Research Institute, Praxis Global Alliance, PwC, Synergy and others.

FMCG showcasing one of the highest-ever participation by the FMCG industry. FMCG firms recruited 25 percent of the batch, with offers from sector leaders. And total number of students recruited (35%) by industry giants from FMCG and pharma such as Asian Paints, AbinBev, Colgate-Palmolive, Dr. Reddy’s Laboratories, Novartis, Godrej Group, General Mills, Hindustan Coca-Cola Beverages, Hindustan Unilever Limited, ITC, Kellanova, L’Oréal, Marico, Mondelez, Nestle, Procter & Gamble, and more.

The BFSI, IB, PE, VC and Hedge Funds companies like Axis Bank, Barclays, DC Advisory, Fullerton, Goldman Sachs, ICICI Securities, JPMC, JM Financial, Neo Wealth , Nomura, Nuvama and O3 Capital have recruited 41% of the Finance cohort.

Even with a slowdown in the tech sector, 30% of the Information Management specialisation was placed in the Product Management sector. Roles offered by recruiters included new recruiters like, CapGrid, Cimpress, NPCI, PayTM, Play Simple Games and Intuit, MakeMyTrip, Media.net, , American Express Samsung Research India, Bangalore among others. It was observed that, there has been an overall increase in the number of product management offers compared to the previous year.

General Management and Leadership roles: Top recruiters included Aditya Birla Group, Capgemini E.L.I.T.E., Mahindra GMC, RPG and Tata Administrative Services.

S.P. Jain Institute of Management and Research (SPJIMR) is a constituent of the Bharatiya Vidya Bhavan and is consistently ranked among the top ten business schools in India. With a mission to 'influence practice and promote value-based growth' through pioneering programs and pedagogical innovations, SPJIMR stands out for its unique and distinctive approach to management education.

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