FMS Delhi Placements 2023-24: Average Package: INR 34.1 LPA & Highest Package: INR 1.23 CPA

There is no question at all if you are optimising for salary in the short term. On average, you would earn more at IIM Ahmedabad and Bangalore than at FMS. In the long run, it will be much more dependent on you and a little bit on the profile you want to work in. However, ceteris paribus and on average IIM Ahmedabad or IIM Bangalore will earn more or as much as an FMS grad. Choose A or B if you want to maximise your placement salary.

Whether you should optimise for placement salary is a different question, and the answer depends on what you want to do with your life.

FMS Delhi maintains a stable placement record over years. Students receive lucrative salary packages every year. The institute has released the final report of the 2022 placement drive.

Some major companies that visited the campus for recruitment are Boston Consulting Group, Nykaa, Paytm, Adobe, Adani Group, BYJU’s. Recruiters came from various domains. The domain-wise placement statistics are as follows

Consulting/General Management was the top recruiting domain. IT and Operations also was one of the major recruiting domains with around 61 offers.

Let’s consider the effect of graduation scores in summer and final placements separately.

Summer Placements:

 During these placements, the recruiters don’t have your MBA profile to judge you. So they have to take your graduation score, past academics, and other criteria into consideration. The summer placements are largely based on what the candidate has achieved till the time he joined his/her MBA program. This is exactly why placement committees request that students utilize the time before joining the institute to improve their resumes. You can upscale yourself with work experience, your education, your extra-curricular activities, etc.

Final Placements: 

During these placements, the students are almost about to complete their MBA. This means their profile has improved through various on and off-campus opportunities. These opportunities include research projects, work on industry projects, and summer internships. So now your CGPA in your MBA program and performance in these activities carry more importance than your undergraduate CGPA.

So we can say graduation scores matter in summer placements but not much in final placements.

FMS is known largely for its Management and Consulting placements rather than Finance placements. Let’s have a look at the sector-wise placement statistics of FMS.

From the above stats we can say that the highest placements were offered to the Management and Consulting domains. The Marketing placements accounted for 39%, Consulting and Management for 17%, IT/Ops for 28%, and Finance for 16%. Finance received almost half of what Management and Consulting placement offers. The top recruiters that came from the Finance sectors are as follows 

1. American Express
2. HCL
3. Axis Bank
4. Bharti Enterprises
5. ICICI Bank
6. HSBC
7. Crisil

So I don’t think FMS Delhi is good for Finance.

The salary-wise placement statistics of this year at FMS are as follows

Below INR 20 LPA: 13

INR 20 LPA – INR 24.9 LPA: 89

INR 25 LPA – INR 29.9 LPA: 33

Above INR 30 LPA: 122

So it can be inferred from the above data that the lowest package was around 5-15 LPA. Such low packages are accepted by students who are in desperate situations. This can be due to a poor CV or lack of communication or an inability to handle the stressful placement process. Such desperate situations result in compromising brand name, CTC, location, domain, or designation.

So if you are concerned that the lowest package is less than what you are expecting, rest assured. Because you can still work in improving your profile, work on your content and communication and make the best of the on and off-campus opportunities.

The two most important factors considered by recruiters during Placements at IIM ABC/FMS/XLRI are

1. Brand of UG College - SRCC/Old IITs/BITS/CA
2. High Academics - University RankHolders, City Toppers in Boards, or at least Department Rank Holders with 8.5+ in Engineering. 

MBA scores are of much importance during Final Placements but are Not available during summer placement.

If you have passed the above criteria, you are most likely to land any job. Still, I have segregated the roles that require work experience and the roles that do not.

Roles that require work experience 

• Operations/Supply chain/product management. 
• Any role will require work experience if your above 2 criteria are not up to the mark.

Roles that do not require work experience 

• Consulting
• Investment Banking
• PE/VC
• Marketing 
• Corporate Finance roles

So most of the jobs do not require work experience. Even if they do only non-engineering work experience is of value unless you want to go into Operations/Supply chain/product management.

In the placement process, it is not always the B-Schools that are responsible for reporting inflated packages, but rather the companies. The figure reported by placement cells is referred to as the "Cost to Company" (CTC) and not the take-home salary. This means that simply dividing the CTC by 12 is not an accurate reflection of what you will receive in your bank account each month.

CTC consists of two main components: fixed and variable. The fixed component includes your basic salary, HRA, TA, LTA, employer's contribution to the provident fund, joining bonus, retention bonuses, and ESOPs. The variable component is based on both your performance and the company's performance and is paid out in lump sums either yearly or half-yearly.

Your take-home salary at the end of each month is calculated as basic salary + HRA + TA + other allowances - provident fund deduction - tax. The remaining amount is given to you at the end of the year. To illustrate how companies may inflate their CTC figures, here are a few examples:

• Amazon:

Fixed component: 9 lakhs

Year 1 end retention bonus: 2 lakhs

Year 2 end retention bonus: 1.5 lakhs

ESOP: 5 lakhs to be paid over 3 years

Performance bonus: separate/not reported CTC: 17.5 lakhs

Take-home salary: 65-70k

• Goldman Sachs:

Fixed component + Variable component: 14.5 lakhs

Relocation: 2,00,000 INR (one-time payment)

Supplemental Salary: 3,50,000 INR (supplemental salary is an accrued bonus paid out in monthly installments pro-rated from the date of joining, only applicable during the first year of joining)

CTC: 20 lakhs

Take-home salary: 95-98k

• RBS India Development Center (Royal Bank of Scotland back-end):

Fixed component: 9 lakhs

Variable component: 10-20% of a fixed component

CTC: 10.8 lakhs

Take-home salary: 65-68k

As seen from the examples, despite Amazon having a CTC that is double that of RBS IDC, their take-home salary is the same. This is the typical way it works. The placement teams likely do not have much control over the process.

If you are concerned about your past academic records then rest assured for the final placements don’t usually pay much attention to past academic records. 

MBA is much more than just learning and writing your answers and scoring good marks. It is more about applying logic and increasing your decision-making skills. So to compensate for your poor past academic performance, become a part of the managerial committee and improve your resume. Enhancing your decision-making and managerial skills will increase your chances of getting a good placement than your academic background.

Also, FMS in itself is a brand name that will fetch you a good package.