However, the SRCC students are not fully satisfied with the pay packages offered to them since the offers extended to their seniors was almost double in number. Moreover, no foreign postings were extended this year. This is by far the highest offer made at SRCC this year. The pay package of 16.5 lakh includes a fixed salary of Rs. 10.5 lakh, a joining bonus of Rs.3 lakh and a performance bonus of Rs.3. Lakh per annum. The offer has been made to 3 students each in global markets and corporate finance.
In the last 2 years, the bank had extended job offers to 2 students from SRCC, with an annual salary package of rs.39 lakh in 2011 and Rs.32 lakh in 2010. The jobs included training in London with a posting in India. The bank has refused to comment on its placement plans from undergraduate colleges. The high score of SRCC over other colleges due to its high cutt-off score and its legacy of delivering quality education were the probable reason for the bank to visit SRCC.
The second highest placement offer was made by Citibank, which hired 2 students at Rs. 10.5 lakh per annum. Citibank had picked only 1 student from SRCC last year. The college has been successful in placing 160 of its students so far. The other recruiters visiting the campus included McKinsey and Co, Deloitte India, Bain and co and KPMG. The annual package offered by the consulting companies range between Rs 2.2 lakhs and 8 lakh. KPMG alone picked 24 students from the college. The placement process is expected to continue till April this year.
Somehow, the placement process for Undergraduates in Mumbai appears to be lacking far behind in terms of high pay packages. While St.Xaviers did not disclose any details regarding its placement process, Sydenham college of Commerce and Economics has placed 40 of its students so far. The recruiters visiting Sydenham include Ernst and Young, Google India and Protiviti. JP Morgan and Morgan Stanley are also expected to visit the campus in the coming days.