Latest news with #ViswanathPingali
Time of India
2 days ago
- Business
- Time of India
Salaries rebound at top campuses: MBA, BTech offers up after 2024 slump
ADVERTISEMENT ADVERTISEMENT ADVERTISEMENT The Class of 2025 has higher salary offers across top campuses after a flat 2024, signalling a pickup in hiring activity, according to the Deloitte Campus Workforce Trends: Placement Cycle 2025 report, which analysed placements across 508 salaries for MBAs and BTechs are expected to rise 8.3% and 4.3% year-on-year, respectively, after declining 9% and 0.1% in 2024. At the top 10 MBA colleges (according to NIRF rankings), the median package is set to touch Rs 26 lakh per annum in 2025, up from Rs 24 lakh last year. For the top 10 BTech colleges, it's Rs 17 lakh, up from Rs 16.3 lakh in report attributes the uptick to pent-up demand after last year's muted hiring, sharper skill-based recruitment, and attrition confirmed the trend. 'Average salary has risen, and this growth is largely driven by expanding opportunities in highgrowth sectors such as private equity, renewable energy and healthcare,' Himanshu Rai, director of Indian Institute of Management (IIM) Indore, told highlighted a significant rise in the variable pay component, particularly in consulting and finance roles, which reflects performance-linked structures and sector-specific Ahmedabad, the country's leading management institute, is in the process of consolidating data from the previous placement cycle audited, its placement committee chairperson Viswanath Pingali said. 'Informal data analysis suggests there is a small increment in the salaries. It is the general trend," he Institute of Technology (NIT) Jalandhar saw significant improvement both in the number of students placed and salary packages, its director Binod Kumar Kanaujia said. Total placements rose 15% to 1,005 in 2025, from 873 in 2024, 'while the most significant hike was seen in the Rs 40-50+ lakh per annum range, which jumped from 13 students in 2024, to 24 in 2025,' he is the 5th edition of Deloitte Campus Workforce Trends, which also surveyed 238 organisations across industries. 'Engineering degrees are leading YoY compensation growth (4.65%), outpacing the management ner at Deloitte students continue to draw the highest pay packages, followed by Bachelor of Law and BBA students. 'The technology sector is the most preferred industry by students for the fifth year in a row,' Gupta compensation growth vis-à-vis last year was in manufacturing, followed by the consumer sector, while life sciences/pharmaceuticals variable pay component, referred to as 'pay at risk', has become a default feature at the campus hiring level. '97% of organisations have implemented short-term incentive programmes or bonus or performance-linked incentives,' the Deloitte study said. In addition, there has been a 24% increase in pre-placement offer conversions across all degrees in FY25 vis-à-vis MBAs, the top two roles are management consultant and product manager; for BTechs, they are development engineer and data scientist, and for CAs, audit manager/internal audit and management accountant, among others. Organisations are increasingly leveraging retention bonuses to boost early tenure among campus hires. 'Positioned as a 'stay incentive', these payouts are designed to anchor fresh talent through the critical first year,' Gupta attrition has declined by 3% on-year in 2025 across all streams, with the sharpest drop seen in one-year attrition among MBA graduates, Gupta said.
Time of India
2 days ago
- Business
- Time of India
Cos Bring Fatter Cheques to Campus
The Class of 2025 has higher salary offers across top campuses after a flat 2024, signalling a pickup in hiring activity, according to the Deloitte Campus Workforce Trends: Placement Cycle 2025 report, which analysed placements across 508 institutions. Median salaries for MBAs and BTechs are expected to rise 8.3% and 4.3% year-on-year, respectively, after declining 9% and 0.1% in 2024. At the top 10 MBA colleges (according to NIRF rankings), the median package is set to touch ₹26 lakh per annum in 2025, up from ₹24 lakh last year. For the top 10 BTech colleges, it's ₹17 lakh, up from ₹16.3 lakh in 2024. The report attributes the uptick to pent-up demand after last year's muted hiring, sharper skill-based recruitment, and attrition backfill. Campuses confirmed the trend. 'Average salary has risen, and this growth is largely driven by expanding opportunities in high-growth sectors such as private equity, renewable energy and healthcare,' Himanshu Rai, director of Indian Institute of Management (IIM) Indore, told ET. He highlighted a significant rise in the variable pay component, particularly in consulting and finance roles, which reflects performance-linked structures and sector-specific demand. IIM Ahmedabad, the country's leading management institute, is in the process of consolidating data from the previous placement cycle audited, its placement committee chairperson Viswanath Pingali said. 'Informal data analysis suggests there is a small increment in the salaries. It is the general trend," he said. National Institute of Technology (NIT) Jalandhar saw significant improvement both in the number of students placed and salary packages, its director Binod Kumar Kanaujia said. Total placements rose 15% to 1,005 in 2025, from 873 in 2024, 'while the most significant hike was seen in the Rs 40-50+ lakh per annum range, which jumped from 13 students in 2024, to 24 in 2025,' he said. This is the 5th edition of Deloitte Campus Workforce Trends, which also surveyed 238 organisations across industries. 'Engineering degrees are leading YoY compensation growth (4.65%), outpacing the management degrees (2.19%),' said Neelesh Gupta, partner at Deloitte India. BTech students continue to draw the highest pay packages, followed by Bachelor of Law and BBA students. 'The technology sector is the most preferred industry by students for the fifth year in a row,' Gupta said. Highest compensation growth vis-à-vis last year was in manufacturing, followed by the consumer sector, while life sciences/pharmaceuticals trailed. The variable pay component, referred to as 'pay at risk', has become a default feature at the campus hiring level. '97% of organisations have implemented short-term incentive programmes or bonus or performance-linked incentives,' the Deloitte study said. In addition, there has been a 24% increase in pre-placement offer conversions across all degrees in FY25 vis-à-vis FY24. For MBAs, the top two roles are management consultant and product manager; for BTechs, they are development engineer and data scientist, and for CAs, audit manager/internal audit and management accountant, among others. Organisations are increasingly leveraging retention bonuses to boost early tenure among campus hires. 'Positioned as a 'stay incentive', these payouts are designed to anchor fresh talent through the critical first year,' Gupta said. Campus attrition has declined by 3% on-year in 2025 across all streams, with the sharpest drop seen in one-year attrition among MBA graduates, Gupta said.
The Hindu
28-04-2025
- Business
- The Hindu
App Store an economic miracle for developers in India, says Tim Cook
The App Store ecosystem in India facilitated ₹44,447 crore ($5.31 billion) in developer billings and sales during calendar 2024, reported a study published by Apple. As per the study, more than 94% of billings and sales facilitated by the App Store in India accrued solely to developers, and businesses of all sizes, without any commission paid to Apple. It also found, the global earnings of India-based developers have tripled, over the last five years. 'The App Store has been an economic miracle for developers in India and all around the world, and we're thrilled to support their work.,' Apple CEO Tim Cook said. The study underlined the power of India's incredibly vibrant app economy, he further said adding, 'And we're committed to keep investing in the success of developers of all sizes as they build apps that make an important impact and enrich people's lives.' According to the study, India-based developers have also designed popular apps targeted at the country's growing quick commerce and gig economy industries. These apps provided essential on-demand services, making daily tasks more convenient for millions of users while providing workers with access to flexible job opportunities in the country, it claimed. The study conducted by Professor Viswanath Pingali from the Indian Institute of Management Ahmedabad, took a closer look at the key drivers shaping the App Store ecosystem in India that comprises food delivery, travel, gaming, and entertainment. In 2024 alone, App Store developers generated ₹38,906 crore ($4.65 billion) in total billings and sales from the sale of physical goods and services, ₹3,014 crore ($352.9 million) from in-app advertising, and ₹2,527 crore ($302 million) from digital goods and services, it said further.
Hindustan Times
28-04-2025
- Business
- Hindustan Times
Apple App Store in India facilitated ₹44,447 crore in billings, sales in 2024: Report
Apple on Monday released a new study saying that the App Store ecosystem in India facilitated ₹44,447 crore (USD 5.31 billion) in developer billings and sales in 2024. The study – conducted by Professor Viswanath Pingali from the Indian Institute of Management Ahmedabad – showed that more than 94 per cent of that revenue accrued solely to developers and businesses, without any commission paid to Apple. The study showed that over the last five years, the global earnings of India-based developers have tripled, highlighting the tremendous business opportunity and global reach the App Store provides. 'The App Store has been an economic miracle for developers in India and all around the world, and we're thrilled to support their work,' Tim Cook, Apple's CEO said in a release. This study underlines the power of India's incredibly vibrant app economy, he added. "And we're committed to keep investing in the success of developers of all sizes as they build apps that make an important impact and enrich people's lives," according to him. The study from Professor Pingali took a close look at the key drivers shaping the App Store ecosystem in India, including increased app usage in sectors like food delivery, travel, gaming, and entertainment. In 2024 alone, it found that App Store developers generated ₹38,906 crore (USD 4.65 billion) in total billings and sales from the sale of physical goods and services, ₹3,014 crore (USD 352.9 million) from in-app advertising, and ₹2,527 crore (USD 302 million) from digital goods and services. Since its launch more than fifteen years ago, developers have more ways than ever to monetise their apps and build successful businesses on the App Store, resulting in a healthy and dynamic ecosystem. In 2024, developers active in India have been successful across a diverse range of app categories such as games, health, and fitness, lifestyle and utilities, as per the study. The App Store's ecosystem of innovation provides Apple developers around the world with a global distribution platform across 175 storefronts. In 2024, close to 80 per cent of India-based developers' App Store earnings came from users outside of the country, and 87 per cent of developers were active on multiple storefronts. Moreover, throughout the same year, users from all over the world downloaded apps from developers in India more than 755 million times through the App Store, twice as many as five years ago. Many apps from India-based developers have also appeared on the most downloaded app charts in storefronts outside of India, and apps from India-based developers were in the top 100 most downloaded apps in 70 storefronts outside of India. In addition to building global businesses on the App Store, developers continue to reach local audiences across India. In the last five years, downloads from Indian users have more than tripled, and earnings from these users have increased more than fivefold. Notably, India-based developers have also designed popular apps targeted at India's growing quick commerce and gig economy industries. Small developers, in particular, have been supported by Apple's ecosystem. The total App store earnings of small developers increased by 74 per cent between 2021 and 2024. The company said it is committed to helping developers across India build their app businesses. In order to create even more opportunities, Apple has worked closely with developers and aspiring coders to help them build the skills they need to become world-class app creators. This includes the Apple Developer Center in Bengaluru, where Apple engineers work with developers from across India to help them create impactful apps and take advantage of developer tools, including more than 250,000 APIs as part of frameworks such as HealthKit, Metal, and Core ML. From 2020 through 2023, Apple prevented a combined total of over USD 7 billion in potentially fraudulent transactions, including more than USD 1.8 billion in 2023. The App Store also rejected more than 1.7 million app submissions for failing to meet privacy, security, and quality standards.
Hans India
28-04-2025
- Business
- Hans India
Apple App Store Drives Rs. 44,447 Crore Boost to Indian Economy in 2024; Tim Cook Calls it a 'Miracle'
According to a newly published report, Apple's App Store powered a remarkable ₹44,447 crore (approximately $5.31 billion) in developer billings and sales in India during 2024. Impressively, about 94 percent of this commerce went directly to developers and businesses, bypassing Apple's commission structure. The findings, compiled by IIM Ahmedabad professor Viswanath Pingali, showcase how the App Store has become a significant growth engine for Indian developers. It highlights their rising earnings and their success in reaching global audiences and fostering entrepreneurship across the country. Apple CEO Tim Cook praised the Indian app ecosystem, describing its success as miraculous. 'The App Store has been an economic miracle for developers in India and worldwide, and we're thrilled to support their work,' Cook said. 'This study underlines the power of India's incredibly vibrant app economy. And we're committed to keep investing in the success of developers of all sizes.' The earnings breakdown in 2024 reveals that Indian developers made ₹38,906 crore (roughly $4.65 billion) from selling physical goods and services. According to the study, in-app advertising generated ₹3,014 crore (about $352.9 million), while the sale of digital goods and services brought in ₹2,527 crore (around $302 million). A particularly noteworthy trend is the increasing global footprint of Indian developers. Nearly 80 percent of their total earnings came from users outside India. Apps developed in India saw over 755 million downloads worldwide in 2024 — twice as many as five years ago — with many even climbing into the top 100 charts across 70 different international storefronts. Back home, Indian users have tripled their app downloads over the past five years, while consumer spending on apps has surged more than fivefold. Indian developers have been pivotal in creating top apps across quick commerce, gig economy, food delivery, travel, gaming, and entertainment sectors. Smaller developers are also witnessing tremendous growth. Between 2021 and 2024, their earnings soared by 74 percent, thanks largely to initiatives like Apple's App Store Small Business Program, which reduces commission fees for small developers, giving them more room to grow and succeed. The report also touches on Apple's efforts to maintain high standards of security and privacy across its App Store. Between 2020 and 2023, Apple reportedly blocked over $7 billion worth of potentially fraudulent transactions, with $1.8 billion being prevented in 2023 alone. During this period, more than 1.7 million app submissions were rejected for not meeting Apple's strict privacy, security, and quality guidelines. However, these positive developments come at a time when Apple is facing increased regulatory pressure, particularly in the European Union. The EU recently fined Apple €500 million (approximately $540 million) for allegedly restricting developers from directing users to alternative payment methods outside of the App Store. The European Commission contends that this practice hampers competition and violates the Digital Markets Act (DMA), which is designed to ensure fair digital market practices. Despite these regulatory challenges, the recent findings underscore how pivotal the App Store remains for developers, particularly in emerging markets like India, where opportunities for innovation and growth continue to expand rapidly.
