Indian Institute of Foreign Trade (IIFT), one of the premier management institutes of the nation, has announced the completion of its placement season for the year 2010, maintaining its 100% placement record. Placements at IIFT started on a positive note with about 30% of the batch of 164 students, having Pre-Placement offers and Interviews across its Delhi and Kolkata Campus.
Companies making these offers included Cognizant Business Consulting, Mahindra & Mahindra, Johnson & Johnson Medical Systems, Tata Steel, Reckitt Benckiser, Colgate Palmolive, Essar, Tata Motors, Louis Dreyfus, ICICI Securities and Wipro amongst others. 30 students accepted these offers while others chose to test their mettle during the placement weeks.
"This year new benchmarks have been created on many fronts, be it highest salary, foreign placements or the average salary offered to students. Nothing is more satisfying than to see students getting their desired profile with good salary package which we consider a real success." said Munish Bhargava, Corporate & Placement Advisor, IIFT.
International placements were flagged off by Olam International, which has been a regular recruiter at IIFT for the last 15 years. About 10% of Olam's Global Talent Pool is comprised of IIFT alumni handling global roles. It offered the highest salary of US$ 150,000 p.a. to three students. "IIFT and Olam have been associated for one and a half decades now and the relationship keeps growing stronger every year" said Michael Joseph, Head Resourcing at Olam International.
Other international recruiters included Triton Group, Sudima International, Punj Lloyd and Wilson International with more companies confirming their interest from Middle East and Hongkong. In all, over 10% of the batch was made offers to start their career outside of India. International Business and Trading profiles were dominant and with this IIFT once again proved to the nation its superiority in these sectors.
IIFT saw 62 companies making offers with a variety of profiles including Investment Banking, Equity Research, Corporate Finance, Consulting, Sales & Marketing, Trading, Supply Chain Management, Risk Management, Derivative Trading etc. The participating companies were from different sectors namely Banking & Financial Services, Trading, IT, Pharma, FMCG, Consultancy, Logistics, Media, Telecom and Manufacturing.
Upbeat about the placements result, K.T Chacko, Director IIFT said, "With the economy on a recovery path, IIFT students are reaping its benefits impressively. With this year's placements, IIFT has yet again reinforced its presence in International Business & Commerce and has proven to be a preferred destination for leading organizations across the world."
The traditional recruiters like Louis Dreyfus, Nomura Holdings, Tata Motors, Cognizant Business Consulting, KPIT Cummins, Tata Steel, TCS, Wipro, Colgate Palmolive, Reckitt Benckiser, Mahindra & Mahindra, Essar, Bertling Logistics, Bharti Airtel, ITC, HT Media, Axis Bank, ICICI Bank, Titan, Yes Bank, Eli Lilly, Maersk, Britannia, Infosys, Cargill India, etc. were back on campus. It was also very heartening to see that a number of companies like Amazan Agro, Daimler India, ONGC, Johnson & Johnson Medical Systems, Religare, Tata International, Jaypee Capital, ICICI Securities, Cairn Energy, SBI Capital, Gati, GE Corporation, MARG Group, Interglobe, Vistasoft etc. came for the first time to recruit from IIFT.
Some of the major recruiters this year included the Triton Group, Cognizant Business Consulting, KPIT Cummins, Infosys, Tata Motors, ICICI Bank and Bertling Logistics. The highest domestic salary was recorded at INR 13.08 lacs while the Average Salary increased by 53% over the last year at Rs.11.54 lakhs p.a.
The sectoral split of Placements is as per the chart given below:
Placement chart of IIFT, New Delhi
Indian Institute of Foreign Trade set up by Government of India in 1963 is one of the premier institutes in the area of International Business, Besides long- term educational programmes such as Ph.D. Programme, MBA (International Business), Post Graduate Diploma in International Business, Certificate Course on Export Management and Foreign Business Languages. The institute also conducts a two year MBA Programme in International Business at Dar- Es- Salaam in collaboration with Institute of Finance Management (IFM), at Tanzania.