The placement report for the class of 2013 of the Post Graduate Program in Management (PGPM program) at SPJIMR is out. While the average salary has improved from 16.7 lakh to 18.5 lakh this year, the highest pay this year has taken a hit – as compared to a 40.5 lakh offer made last year at the institute, the highest offer this year is 36 lakh.
This year 60 companies visited the SP Jain, Mumbai campus and offered middle and senior management roles to the 107 member strong 2013 PGPM batch, which had an average work experience of 7 years. The highest salary offered to a student was Rs. 36 lakhs while the average salary turned out to be Rs. 18.53 lakhs. The graduating batch’s average salary increased by 75% over its incoming salary, and the average percentage increase in salary for participants was between 20% and 250%.
It is not clear from the information provided by the B-school whether the 40.5 lakh salary is a domestic offer or an international one made in dollars or whether the average salary includes data from international offers – due to the differences in purchasing power between the two currencies, dollar salaries when converted to Indian Rupees may not present an accurate picture.
The PGPM is a one-year full time residential program and has been accredited as full time MBA by AMBA, UK. It has been designed in a way that it can take care of the lateral requirements of the industry. When organizations grow at a fast pace, they feel the need for talented resources at lateral positions to enhance growth and infuse fresh blood into the system. And the program architecture, which is a good mix of knowledge, skills and attitude, creates professionals that can fill this need in the industry.
Some of the big names involved in campus hiring were Accenture Technologies, Citigroup, Cognizant, Dell, Facebook, Google, ICICI Bank, Infosys, Reliance Industries, Siemens, Tata Consultancy Services, Vodafone, Capco, Valcon, PWC, Amazon, JPMorgan Chase & Co. and many more. There were global leaders and start-up companies alike, offering senior management roles to students.
One goal of the program itself is to accelerate careers by leveraging the previous experience of the participants to create front line managers in a specific function. It has managed to do that to a great extent with the 107-strong batch of 2013. The job profiles offered to the students are a significant indication of the transformation the PGPM program can bring about in their careers. Some of the plum roles that students were offered include Business Analysis Advisor, Financial Controller, Lead Business Consultant, Manager-Corporate IT, Product Manager, Sr. Sales Manager, Senior Consultant, and more.
Radhika Ramchandra Nadkarni, Senior Manager, Cognizant and a past PGPM student concurs that it’s a transformational journey. “But it also gives you a wider perspective on things and it helped me accomplish the goals I set out to achieve,” she says.
Aravindan Balasubramanian, Business Analyst, Dell, and a PGPM alumni, rounds up the PGPM experience well: “It is a right mix of gaining and sharing knowledge and participating in extracurricular activities, while managing time too. It eventually became a miniature form of life for me. In life you have to juggle different roles; similarly I had to manage different activities. It added different dimensions to my personality and gave me exposure to various aspects of life.”
Snapshot of placements for the one-year MBA (PGPM) Class of 2013 at SP Jain, Mumbai