Saturday, March 12, 2011

IIM placements end with fatter pay cheques this year

Final placements are over at most of the IIMs (Indian Institutes of Management), bringing relief to scores of students some of who went through a month-long process to get job offers. The number of offers has gone up from last year with an increase in average salary. If IIM-Kozhikode saw the total number of offers go up to 305 from 265 last year (the number of offers per company rose to 3.37 from 2.66 in 2010), IIM-Calcutta saw slot zero offers going up to 139 from last year's 90. Similarly, IIM Indore, which wrapped up its placements last month, saw number of offers increase to 241 this year, from 235 in the previous year.

Institutes say it's the overall buoyancy in the Indian economic scenario that has pushed up the number of offers this year. "It's not only that jobs have increased in huge numbers across the industry, but within the industry, some sectors are doing better than others. Sectors that expect to grow faster in the coming years are hiring more people. Similarly, some companies that have aggressive expansion plans in the coming fiscal have in large numbers from the institutes. This has pushed up the overall job offers at the institute," said IIM-C Placements Chairman Prof. Amit Dhiman.

His claims are supported by the latest findings of some job surveys. The Indian economy is likely to create a large number of jobs this year, as reflected in a study by HR solutions firm Manpower. The employments outlook for the April-June period revealed one of the strongest intent to hire among Indian employers. According to the survey, more than 50% of the employers expect an increase in their employee headcount in the coming quarter, as compared to 36% during the same period last year.

Source: The Economic Times, March 12, 2011
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