Indian Statistical Institute (ISI) is not lagging behind the premier B-schools in attracting plum job offers.
This year’s final placements at ISI Calcutta, which started in August and are yet to wind up, have seen the average salary on offer going up by around Rs 1.5 lakh. The number of job offers, too, has been on the rise.
“Though the salary on offer is not as high as in the IIMs, it has been steadily rising. The average salary in 2005-06 was Rs 6.5 lakh per annum. It had gone up to Rs 7.8 lakh per annum in the 2006-07 placement season,” said an official.
The highest salary on offer so far this year has been Rs 12 lakh per annum.
Of the 114 in the outgoing postgraduate batch, all have applied for placement. “Though the institute is research-oriented, placements have always been important to us,” said Pinakpani Pal, the placement convener of the institute.
Companies like McKinsey, ICICI Bank, Yahoo and Tata Motors have already been on campus for the placements. The firms that have signed up but are yet to come include Morgan Stanley and JP Morgan. Among the new recruiters are Denou Source, Dr Reddy’s, Bank of America, Swiss Re Healthcare.
Jobs in the field of analytics are most sought after among the students of quality, reliability and operations research (QROR), statistics and quantitative economics. Offers from investment banks, financial research companies and consultancy firms, too, are being lapped up. Those doing M.Tech in computer science prefer IT jobs with a stress on software development.
“ISI has always been research-oriented, but over the last few years, the students are also being drawn towards placement,” said Subhodeep Rakshit, a second-year student of MSQE.
Some teachers are, however, worried that the increase in interest in placement might affect research.
“Research stipend is meagre, compared with the salaries the companies are offering. Hence, the students are in a dilemma whether to opt for job or research. In many cases, the students come back for research after a few years in the industry,” said Pal.
