New Delhi: As IIM-Bangalore opened its doors for the headhunters of Indian and multinational corporate houses on Tuesday at the start of its placements, the authorities also placed restrictions on the revelation of the fat salary figures of the campus recruits.
The IIM-B authorities said from now on this will be a norm to not reveal the salary figures to the press, and that they expect other IIMs also to follow suit in this matter. The idea is to keep these details out of the prying eyes of the media, the IIM-B authorities said.
Campus recruitments are yet to begin at two other top-rung IIMs, Ahmedabad and Kolkata.
The decision to hush up the placement records was taken after two 2006 batch IIM-B grads wrote to the director of the institute not to go to town with its placement details, saying that such details may expose the students and their families to extortion gangs and other anti-social elements.
The two students — Gaurav Agarwal and Venkatesh Shankararaman — had bagged the biggest purses in 2006.
Gauray had walked away with a whopping $1,93,000 (Rs 85 lakh) annual package from British investment bank Barclays Capital, while Venkatesh had bagged Rs 30 lakh per annum purse from McKinsey and Co for a position in on the Mumbai desk.
"We hope other business schools see value in this decision," Hindustan Times quoted Sourav Mukherjee, the Chairperson (placements) at IIM-B, as saying.
The IIM-B has taken the matter seriously as it may also be seen as a breach of the confidentiality clause.
According to IIM-B sources, the Gaurav and Venkatesh said in their letter that salary details, especially if they are hefty, tend to draw unwarranted attention and lead to psychological stress.
"We were swamped with calls from parents of biz-school students after the media splashed reports of the placements. We feel that details like salaries, bonuses and other compensation-related figures are personal and should not be reported by the media," they pleaded.
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