Following the article in Economic Times dated 22nd February 2010 mentioning that an offer in excess of Rs. 1.44 Crores has been made by a firm, we would like to clarify in interest of the entire community that this is incorrect. Also, converting dollar salaries to rupee terms does not portray the correct picture and hence we provide the average dollar salary separately in our press releases.
We felt compelled to communicate this clarification because we believe it has the potential of driving aspiring students into making misinformed decisions and also gives incorrect signals about the economy.
IIMA over the last few years has chosen not to disclose the highest salary offered as we believe salaries are just one component of the jobs offered and also because the highest salary is in no way representative of the recruitment scenario. We understand that placements at IIMA are regularly followed and expected to provide cues to the overall economic scenario to a certain extent and hence we do make public average salaries offered at the end of the placement process.