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Tribune News Service
Chandigarh, January 9
University Business School (UBS), Panjab University (PU), broke its previous record today as the highest package in 2018-19 reached Rs 53 lakh per annum.
In 2017-18, the highest package offered at the UBS was Rs 46 lakh per annum by Tolaram Group. In 2016-17, the highest package was Rs 15 lakh per annum — offered to three students by Religare Finvest. However, in 2015-16, the highest package was Rs 21 lakh per annum. Akash Rai (24), the recipient of the highest package from Tolaram Group in 2018-19, is from Ludhiana.
He did his BTech in Electronics and Communication from Guru Nanak Dev Engineering College, Ludhiana. He did his schooling from St Thomas Senior Secondary School, Ludhiana. “I will be posted in Nigeria as Area Sales Manager. I have accepted the offer,” he said.
His father Om Prakash Rai is an engineer with Bharat Sanchar Nigam Limited (BSNL) and mother Kanchan Rai is a homemaker. His elder brother also did MBA.
“I give credit to my teachers and the chairperson. They have always been supportive,” he said.
Placements at UBS so far
As far as 83 per cent students have got placed of the total 114. The placements are still on. “We are hoping to clinch 100 per cent placements this year as well,” said Prof Deepak Kapur, chairperson of the UBS.
The average cost to company (CTC) offered in 2018-19 is Rs 11.78 lakh per annum, a rise of 31 per cent, while the median salary offered is Rs 9.5 lakh per annum, a rise of 18.75 per cent.
The average salary in 2017-18 was around Rs 9 lakh per annum and the median salary offered was around Rs 8 lakh.
According to the statistics provided by the UBS, Rs 32.8 lakh per annum is the average CTC of the top 10 per cent students, Rs 21.5 lakh per annum is the average CTC of the top 25 per cent and Rs 15.7 lakh is the average CTC of the top 50 per cent students.
“This shows recruiters consider the UBS a preferred brand. The packages offered at other B-schools have been declining. We offer the best salaries not only across the PU but in the entire city. Even if we compare ourselves with neighbouring IIMs like those in Jammu, Sirmaur and Amritsar, either we are better or on a par,” said Professor Kapur.
The UBS prepares its students for both summer and final placements. “We mentor them in every class,” said Prof Meenakshi Malhotra from the UBS.
Return on investment
With a fee of less than Rs 95,000 for two years (inclusive of tuition fee, academic activities, course material and placements) and an average package of Rs 11.78 lakh per annum, the UBS offers one of the best returns on investment (ROI) for MBA aspirants at 1,260 per cent.
UBS for hike in fee to meet requirements
The UBS has been calling for a hike in the fee to be charged from students so that it can arrange facilities on a par with those at top B-schools. “The fee charged here is just Rs 12,000 per year. It should be raised to Rs 50,000 per student. We will be happy to share 40 per cent of the income from fee with the PU, but the rest should be spent on the UBS,” said Prof Deepak Kapur.
He said, “We got a donation of Rs 1 crore a few years ago. It has risen to Rs 1.5 crore with interest, but it is yet to be spent for an auditorium. Our proposal for Cafe Coffee Day is also pending.”
“We do not even have our own building. We have been sharing rooms on different floors of the PU,” said Professor Kapur.
Honour course
MBA at the UBS will now be an honour school course from 2019-20 onwards. It will have its own syllabi and marking will also be in-house like in other honour school courses at the PU.
The UBS is starting the MBA Entrepreneurship course from 2019-20, having 35 seats. The fee will be Rs 35 lakh per annum.
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