Press Release

FMCG, Consulting, BFSI, Pharma and Tech emerge top recruiting sectors

Feb 22, 2023, Mumbai, India: Bharatiya Vidya Bhavan’s S.P. Jain Institute of Management and Research, Mumbai recently announced the completion of the Final Recruitment Process for its PGDM Class of 2023 in a record number of process days with huge corporate participation.

SPJIMR’s latest MBA placement cycle solidified its strong relationship with the corporate sector. The process saw a high number of companies onboarded and speedy offer rollouts, reflecting the trust in the value-based leadership style of the MBA participants. The return to normal was also marked with most recruiters visiting the campus, while others opted for hybrid/online modes of recruitment. The FMCG sector emerged as the top recruiting sector, with 35% of the batch receiving offers. This built on a trend of increased offers year on year from premier FMCG companies, making SPJIMR a preferred campus.

The average annual salary (cost-to-company) this year stands at INR 33.02 lakhs per annum. The median annual salary came in at INR 32.89 lakhs per annum which registered a rise of 9.3% over last year, with over 70 percent of the batch securing offers above INR 30 lakhs per annum and over 92 percent in excess of INR 25 lakhs per annum. Stellar placements and a steady growth over the previous year was witnessed despite the current market scenario around tech and impending fears of recession around the world.

SPJIMR, Mumbai continues to strengthen its partnership with FMCG firms this year showcasing one of the highest ever the participation by FMCGs in the finals process making it the highest recruiter on campus. FMCG firms recruited 35 percent of the batch, with offers from sector leaders like Asian Paints, Castrol, Colgate-Palmolive, General Mills, Godrej Group, Hindustan Unilever Limited, ITC, Kimberly Clark, L’Oréal, Marico, Mondelez, Nestle, P&G and Reckitt among others.

The consulting sector was also a major recruiter and made offers to 32 percent of the batch. 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 an international offer by Infosys.

This was closely followed by offers in the BFSI, Tech and Pharma sectors that saw companies like American Express, Barclays, Cisco, Dr. Reddy’s Laboratories, Haleon, Edelweiss, Flipkart, MakeMyTrip, PayTM and ServiceNow among others participating in the process.

Record number of front-end investment banking roles were offered by marquee firms like BDA Partners, JM Financials, O3 Capital and Novaa One. Offers in investment banking increased by 75% 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, WEH Ventures and Edelweiss Asset Management.

Despite a slowdown in the tech sector, 31% of the Information Management specialisation was placed in the Product Management sector. This year saw new recruiters like Service Now and Cisco. There has been an overall increase in the number of product management offers compared to the previous year.

General Management roles were offered by leading recruiters such as Aditya Birla Group, Capgemini E.L.I.T.E., Mahindra GMC and Tata Administrative Services.

In addition to the regular recruiters from SPJIMR, the campus onboarded 42 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 American Express, Accenture Strategy, Boston Consulting Group, Colgate-Palmolive, Hindustan Unilever Limited, Procter & Gamble, and Tata Administrative Services among many others.

Prof. Renuka Kamath, Associate Dean Full Time Programmes, said, “Our aim to generate leaders who are not only industry ready, but also socially-conscious, has been acknowledged by our recruiting partners in their support towards SPJIMR”

Prof. Sajeev A. George, Chairperson PGDM said, “We keep innovating the curriculum to provide our students with a learning experience that helps them to develop knowledge, skills, and resilience required to succeed in life and the superior placement performance this year is a validation of our efforts.”

A brief on the companies visiting:

Consulting/IT Consulting: Offers made to over 32% of the batch by Accenture Strategy, Bain and Co, Boston Consulting Group, Deloitte, Ernst & Young, FTI Consulting, GEP, Kearney, KPMG, Praxis Global Alliance, PwC and others.

FMCG: Maximum number of students recruited (35%) by industry giants such as Asian Paints, Colgate-Palmolive, Hindustan Coca-Cola Beverages, Hindustan Unilever Limited, Nestle, Procter & Gamble, and more.

BFSI, IB, PE, VC and Hedge Funds: 23% of the Finance cohort recruited by firms like American Express, Barclays, BDA Partners, Edelweiss, JM Financial, O3 Capital, Pinpoint Asset Management, and WEH Ventures.

Product Management: Recruiters offering roles included BookMyShow, Cisco, Games 24×7, MakeMyTrip, PayTM, Play Simple Games, Samsung Research India, Bangalore, ServiceNow, and Tata Digital, with approximately 31% of the Information Management specialization accepting Product Management roles.

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

PGDM Class of 2023 Placements – An Overview:

• Participants in the Batch: 237
• Number of companies participating: 63
• Number of first-time recruiters: 33
• Total Number of Pre-Placement Offers: 112
• Median Salary: 32.89 LPA (9% increase compared to last year)
• Average Salary: 33.02 LPA (3% increase compared to last year)
• Highest Salary: 77.8 LPA (46% increase compared to last year)

Key Highlights:

• 7% (6.6%) of offers equal to or greater than INR 40 LPA
• 35% of offers equal to or greater than INR 35 LPA
• 70% of offers equal to or greater than INR 30 LPA
• 92% of offers equal to or greater than INR 25 LPA Autumns Internship Highlights:
• Number of companies: 42
• Average Stipend for two months: INR 2,95,928
• Median Stipend for two months: INR 3,00,000
• Maximum Stipend for two months: INR 4,00,000

About SPJIMR: 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 programmes and pedagogical innovations, SPJIMR stands out for its unique and distinctive approach to management education.