Feb 19, 2004

Day Zero: 124 XLRItes Lapped Up In 9 Hrs

XLRI placement News

Day Zero: 124 XLRItes Lapped Up In 9 Hrs: "Day Zero: 124

Forty-five recruiting companies snapped up all the 124 candidates from XLRI this year in a record time of nine hours on ?Day Zero? on Tuesday, making the rest 22 corporates, enlisted for the campus recruitment process (CRP), return empty-handed.

The mood is very upbeat and the quality of placements was beyond the expectation of all of us, summed up Father PD Thomas, director, XLRI, at a press conference here on Tuesday.
This was the second time, 'after a couple of years' that placements at the XLRI were completed on Day Zero.
"The XLRI's online process, started some time ago, helped streamline the entire process, making it more efficient for the companies and making it less cumbersome for students," said Mr Harshwardhan Singh, placement secretary for campus recruitment process 2004.
Asked about the overriding trend noticed at the campus recruitment process this year, the placement secretary said: "A lot of companies had requirements of 10-12 candidates each, but those requirements could not be satisfied with the constraint of the total availability of only 124 candidates."
Of the sectors that came for campus recruitment process, Mr Singh said: "The information technology-enabled services (ITES) sector including business process outsourcing (BPO), insurance and the pharmaceutical sectors haven't been recruiting as much as they did this year,? adding that ?nationalised banks, including State Bank of India, too were interested in heavy recruitment this year".

Coming to statistics, it was the IT and FMCG sectors that picked up 26 per cent each of the total available candidates, followed by 13 per cent, 12 per cent and 11 per cent recruitments, respectively by banks & financial institutions, Business Process Outsoutrcings and core sector companies.

Also around 8 per cent and 4 per cent of the candidates each, went to consulting firms and insurance/ pharma/ telecom companies.

In real terms, both the IT and FMCG sectors picked up 32 candidates each from the campus this year. The IT/ITES sector comprising companies like Wipro, Infosys, HCL, TCS, IBM, Cognizant Technologies Solutions and vCustomer among themselves recruited 47 candidates.

As an individual company, it was Wipro which recruited the highest number of 10 candidates. Consulting firms, which included PwC, Ernst & Young, Ma Foi and Hewitt Associates made over 20 offers.

The highest offer this year, a lateral one, came from Coke, which picked up one of the B-School’s candidates with a five-year work exposure behind him for an annual pay packet of Rs 8.78 lakh.

Last year, the distinction lay with McKinsey which had offered the highest salary of Rs 14 lakh to one of XLRI’s candidates.

The average salary figure of the batch of 2004 worked out to Rs 7.14 lakh (US $ 16000 approx). The standard deviation for the compensation figure is Rs 0.85 lakh, with the lowest salary figure being Rs 4.2 lakh.

Altogether 162 offers came the students’ way, showing that the candidates had multiple offers to choose from.

Banks and financial institutions like JP Morgan Chase, Standard Chartered, Citibank, ICICI, ABN Amro, State Bank of India, SBI Caps, UTI Bank, ICICI PruLife, AIG, picked up among themselves 18 candidates, while the FMCG sector represented by Hindustan Lever Limited, ITC, Colgate-Palmolive, Reckitt Benckier, GSK, Coke and Pepsi recruited 32.

Among the major core sector companies which picked up candidates from the B-school were Murugappa, TAS and the Aditya Birla group.