JBIMS Placements 2022: Average Package: INR 27.63 LPA & Highest Package: INR 42 LPA

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.

From the point of view of batch strength, JBIMS has a smaller batch size of 120 students, while SP Jain has a larger batch size of 300 students. The list of companies visiting both campuses is similar, but due to the smaller batch size at JBIMS, the options available per student are higher, resulting in better placement opportunities.

In terms of cost, JBIMS has a lower fee structure of approximately 1 lakh per year, while the fees at SP Jain can reach 10 lakhs per year when including all expenses. This results in a higher return on investment for JBIMS.

In terms of the quality of education, both colleges are equally good, but it is important not to only consider the quality of education when making a decision. Networking opportunities should also be taken into consideration, and JBIMS offers strong networking opportunities due to its strong alumni base.

In conclusion, both colleges offer great placement opportunities and it is up to personal preference and individual circumstances to determine the best option.

JBIMS saw a significant increase in average salary in 2022, rising over 20% to INR 27.63 LPA. The median CTC was INR 26.48 LPA, and the highest salary offered was INR 42 LPA. Consulting firms were a major presence during the placement drive, with companies such as Deloitte, EY, PwC, Accenture, Infosys, and KPMG among the top recruiters.

During the SPJIMR Placements 2022 Report, 75 recruiters visited the campus, with top companies including Accenture, Aditya Birla Capital, Amazon, and American Express. PGDM students received 123 PPOs/PPIs, with the highest salary offered at INR 53.16 LPA and an average salary of INR 32.06 LPA.

If you believe that the finance placements and packages at JBIMS are comparable to those at IIM Calcutta, you are mistaken.

JBIMS and IIM-C don't even agree on anything.

Some may argue that most companies that visit IIM-C also attend JBIMS, but the reality is hidden in the roles available and the salary packages available.

JBIMS is good for finance, but IIM-C is not comparable; it is in a different league entirely.

When it comes to placement in JBIMS for Marketing students, you can expect a good number of offers from big companies in various sectors. Around 40% of the offers are made by companies in the Pharma and FMCG sectors, including big names like HUL, P&G, Nestle, Britannia, Mars, Abbott, Cipla, and Sandi. The Telecom sector also offers roles in sales and marketing, with companies like Vodafone and Idea having a strong relationship with JBIMS due to a strong alumni presence.

In the Technology sector, firms like Google, IBM, Hexaware, and Infosys offer profiles in IT consulting and international and Indian sales. The Automobile industry also offers roles in sales, with companies like Tata Motors, Hero Motocross, and Baja Auto contributing around 8-10%. Conglomerates like RIL, Raymond, Tata Steel, Samsung, and L&T offer around 10% of the roles for marketing students.

It is important to note that around 50% of the total batch gets placed before the final placement, which is called a Pre Placement Offer. Hence, performing well in your summer placements is crucial.

The average salary for JBIMS Marketing students increased by more than 20% as compared to the previous year, reaching INR 27.63 LPA in 2022. The median CTC was INR 26.48 LPA, and the highest salary offered was INR 42 LPA. During the placement drive, consulting companies played a dominant role, with major recruiters including Deloitte, EY, PwC, Accenture, Infosys, KPMG, and many more.

At Jamnalal Bajaj Institute of Management Studies (JBIMS), you are located in the heart of Mumbai's financial hub, Churchgate. The institute boasts of decent infrastructure with air-conditioned classrooms. However, JBIMS does not have a residential campus.

JBIMS provides a great return on investment as the average salary increased by over 20% from 2021, reaching INR 27.63 LPA in 2022. The median CTC was INR 26.48 LPA and the highest salary was INR 42 LPA, with consulting companies playing a dominant role during the placement drive. Major recruiters included Deloitte, EY, PwC, Accenture, Infosys, KPMG, and more.

Admissions to JBIMS are done through CMAT, instead of CET. The institute offers an MMS degree from Mumbai University and an executive MBA for working professionals.

JBIMS has a reputation for attracting senior managers from the industry as guest lecturers and boasts of an excellent permanent faculty. The learning experience at JBIMS is considered a pleasure due to the industry-relevant and practical knowledge shared by the faculty.

The student body at JBIMS comprises the cream of the CET crowd, with a majority of engineers and diverse backgrounds. However, JBIMS does not offer a residential program, so students may miss out on a typical campus life experience.

The 2021 summer internship placement drive at JBIMS was successful, with the highest stipend offered at INR 5.67 Lakhs per month and an average stipend of INR 2.05 Lakhs per month. Major hirers included Citibank, HSBC, JPMC, HUL, P&G, ITC, and others.

As one of the third oldest B-schools in the country and still one of the best, JBIMS provides an excellent return on investment. The non-residential course may be attractive to some students and the institute's location in the heart of Mumbai's commercial activity can never fade.

Famous JBIMS alumni include acclaimed filmmaker Mani Ratnam, Chanda Kocchar (MD and CEO of ICICI Bank), Uday Kotak (Chairman and MD of Kotak Mahindra), Ajay Piramal (Chairman and MD of Piramal India). JBIMS is undoubtedly one of the best colleges in Mumbai, if not the best.

The first 2 semesters comprise of General electives that are compulsory for everyone. You can at least stop stressing about your specialization for a year. You need to be extremely flexible in order to pursue an MBA. I have seen many people who initially were into Finance yet after summer placements chose Marketing.

As far as the problems related to your low scores are concerned, well yes, it will always be a hindering factor. But this does not mean your MBA is of no use. You will get offers from startups which are an altogether new experience as you get to learn from scratch. But this problem does not happen during Final placements because placements depend upon how you have lived your college life so far and gained from it. At this stage, your past academics will rarely matter. 

You will definitely get a good job if you scored well throughout college despite having completed your internship from a startup or not-so-popular brand. Work hard, build your profile, and make this MBA a turning point in your life. Inculcating GD and PI skills is very important to ensure a good stable job.

So you can overcome the little struggle during summer placements and wait for the long-run benefits.