Not a single student of the IIM-C's Post Graduate Programme for Executives (PGPEX), 2nd Batch, 2007-08 has got overseas placement this year, thanks to the adverse economic condition prevailing worldwide. 'The global nature of the downturn got reflected and there were no foreign placements this year,' explained a statement from the IIM-C. Last year, six students accepted international jobs that averaged an annual pay of US$ 120,750, while the highest offer came at US$ 200,000 a year. The average salary dropped 10 % this year to INR 18 lakh from INR 20 lakh last year. 'The highest domestic salary saw a steeper drop – falling to INR 35 lakh from INR 45 lakh last year,' reported the statement. Last year about 53 % of the jobs on offer were in the IT and IT enabled services (ITeS) sector. In 2009, the IT and ITeS sector accounted for only 22% job offers, while the sales and marketing industry accounted for 22 %. Among the companies that visited the IIM-C campus for placement were: McKinsey and Co, Deloitte and IBM Consulting in the consultancy sector, Tata Consultancy Services (TCS) and Tech Mahindra from the IT industry and Avaya and Tata Teleservices from the telecom sphere.