Indore: Despite economic slowdown since demonetisation in the country, students of Indian Institute of Management Indore are seeing significant hike in average salary.

A closer look at the campus placement records revealed that the average salary of IIM Indore students increased by 46.23 percent in last five years.

The average salary of students was Rs 15.67 LPA in 2016 (the year in which demonisation was done) and Rs 22.92 LPA in 2020. The average salary was Rs 16.23 LPA in 2017, Rs 18.17 LPA in 2018 and Rs 19.4 LPA in 2019.

The institute had witnessed 3.58 per cent hike in average in 2017, 11.95 in 2018, 6.78 in 2019 and 18.12 in 2020.

The hike in average salary is maximum compared to previous years in the financial year 2019-20 wherein the GDP growth was around 5 per cent.

Not only the average salary, highest domestic package also increased.

The highest domestic package was Rs 32 LPA in 2016, which increased to Rs 37 LPA in 2017. The highest domestic package dropped to Rs 33.04 LPA in 2018 but it again increased in 2019. In 2019, the highest domestic package was Rs 40.5 LPA.