’3.95 lakh per month’: IIM Lucknow concludes summer placements for 2024-26 batch with 576 offers

The Indian Institute of Management in Lucknow secured 576 offers for its post-graduate students as the summer placement process concluded this week. The average stipend offered was ₹1.43 lakh per month with a median monthly salary of ₹1,50,000.

According to reports, the highest domestic monthly salary was ₹3.95 lakhs per month, while international offers topped ₹1.75 lakh per month. IIM Lucknow had offered a hybrid placement model with both online and offline options to ensure flexibility and convenience.

The summer placement process offers pertained to its 40th batch of Post Graduate Programme (PGP) students and the 21st batch of Post Graduate Programme in Agribusiness Management (PGP-ABM) students. The batch included 234 freshers and 342 students with substantial prior work experience across various sectors.

Median pay for IIM graduates has stagnated in recent years — even dipping for the batch of 2024. The downturn came even as these educational institutions increased fees for upcoming batches in light of rising costs and changes needed in infrastructure.

According to a Mint report in mid-August, the median salary at IIM-Kozhikode was ₹27 lakh for the batch of 2022-24. The number is unchanged from the previous 2021-2023 group, but higher than ₹26.5 lakh for the students of 2020-22 session.

The campus placement reports of some of the older IIMs also show a dip in the median compensation. IIM-Lucknow’s batch of 2024 got ₹27 lakh versus ₹30 lakh (2023) and ₹29 lakh (2022) in previous years.

In a somewhat tangential development this week, IIM Ahmedabad is also facing legal scrutiny. A student challenged the cancellation of his admission to its two-year post-graduate programme on technical grounds after he completed three-fourth of his course at the business school. The Gujarat High Court has now issued a notice to the college on the basis of his complaint.