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The highest-ever maximum earning potential (MEP) offered was Rs 1.08 crore in 2023. (Representative Picture)
However, the median MEP has increased from Rs 33 lakh in 2023 to Rs 35 lakh this year, the second highest in the past six years. The highest-ever maximum earning potential (MEP) offered was Rs 1.08 crore in 2023. From 2018 to 2022, the average MEP was Rs 70.56 lakh.
The job market remains challenging for executive MBA graduates who choose the one-year programme at the college. This programme is available to individuals with at least four years of full-time work experience after graduation, according to the official website of IIM-A.
IIT placement packages hit by economic slowdown
In July, Business Standard reported that Indian Institute of Technology (IIT) placements have also been hit by the pandemic-induced economic slowdown, leading to a decline in salaries for engineering graduates.
Recent studies from Deloitte and TeamLease highlight a notable trend in compensation for the class of 2024 at the IITs. Deloitte’s campus workforce trends study revealed a slight dip in salaries for graduates from top engineering institutes with annual pay ranging between Rs 15 lakh and Rs 16 lakh. Similarly, TeamLease reports that the median annual salary for graduates from older IITs decreased to Rs 15 lakh per annum from Rs 16 lakh, down from Rs 18 to Rs 20 lakh in 2023.
Besides the overall economic slowdown, factors such as shifts in industry focus towards manufacturing and electric vehicles, increased competition, and a growing preference for internships over full-time positions were cited as some of the reasons for the salary decline.
Moreover, economic challenges have also impacted appraisals this year, with the highest increment falling in the 10 to 11 per cent range, according to a Randstad India report published in April.
First Published: Sep 03 2024 | 10:16 AM IST
