Indian School Of Business Class of 2023 Secures More Than 1500 Job Offers And Record Salaries

Despite  global economic uncertainty and the predicted slowdown of job offers, the Indian School of Business Post Graduate Program in Management (PGP)—an MBA equivalent—received 1578 job offers from 222 recruitment firms across its class in 2023. 

While slightly down in number from last year, the placements still serve as a testament to the exceptional caliber of talent provided by ISB students, and reaffirm the unwavering confidence that recruiting companies have in the capabilities of its students.

“The placements of the PGP Class of 2023 have reiterated that ISB students are well ahead of the curve in taking any crisis head-on and in adding significant value to their organisations,” said Professor Ramabhadran Thirumalai, deputy dean of academic programs at ISB. 

The impact of tech layoffs on Indian School of Business graduates

Ramabhadran considered the recent tech layoffs as the primary reason for the fall in job offers and emphasized that the offers were equal to pre-pandemic levels. 

“The tech industry continues to lay off employees, with Meta recently announcing another round of layoffs. It looks like this churn will continue for a while longer in the tech industry. However, so far, this hasn’t impacted other sectors too much.

“On account of this, placement outcomes at ISB are comparable to last year. In terms of total offers, they are comparable to the placements immediately preceding the pandemic,” he said. 

Changing industries is a popular move for Indian School of Business students 

Significantly, 73% of individuals who secured employment transitioned to roles with new functions, while 79% ventured into different sectors, showing a commitment to forging a career aligned with their aspirations. 

Moreover, the average annual accepted Cost to Company (CTC)—gross annual salary—was INR 34.21 lakhs ($41,450), a 2.5 times increase from the average pre-ISB CTC of INR 13.39 lakhs ($16,220).

Of the total offers extended, 14% were in leadership or general management roles from a diverse range of organizations. Additionally, this year marked the presence of 30 first-time recruiters on the campus, reflecting the growing industry interest in the talent pool at ISB. 

“ISB constantly adapts and updates its curriculum, pedagogies, and methodologies to stay ahead of the fast-changing world,” said Ramabhadran. “This approach empowers our students to become agile, innovative, and forward-looking.”

The offers were primarily from consulting, IT/ITES/technology, BFSI, and FMCG/retail sectors, with consulting, product management, sales and marketing, and general management/leadership programs being the prominent positions in which students were employed. 

Additionally, companies operating in the media and entertainment and supply chain and logistics industries also presented a strong presence among the firms that extended offers at ISB. The post-pandemic period witnessed a revival in international job offers, with 36 being made this year.

The MBA Class of 2023 comprised 36% women, ranking among the top business schools in the region in terms of gender diversity and 40% of the overall job offers were granted to female students, showcasing their prowess in a traditionally male-dominated industry.

Salaries once again rise for Indian School of Business graduates

The salaries of ISB graduates have shown a steady increase from 2019 to 2022, with a substantial rise observed in 2022, where the average annual accepted CTC stood at INR 34.08 lakhs ($41,285). The trend continued in 2023, with the average annual accepted CTC slightly increasing to INR 34.21 lakhs ($41,440).

ISB adheres to an integrated placement system for its two campuses in Mohali and Hyderabad. The entire placement process was conducted virtually for the third consecutive year, as ISB continued to adapt to the global situation and embrace technology-driven solutions to fulfill its commitments to its students and recruiters.

How to apply to Indian School of Business

ISB’s MBA is designed to enable students to enhance their careers by broadening their perspectives, honing their skills, and refining their aspirations. Its one-year program provides a unique opportunity for professionals to immerse themselves in a rigorous academic environment which encourages holistic learning.

A valid GMAT/GRE score is needed for admission into ISB’s MBA program, as well as exceptional academic abilities, professional accomplishments, leadership potential, and personal attributes such as grit, resilience, and adaptability.