Tuesday, March 06, 2012

B-schools get big recruiters despite slowdown worries

The much talked about economic slowdown does not seem to have impacted the placements at the country’s premier management institutes with the season characterised by big recruiters, better salaries and interesting profiles. Both Indian Institutes of Management (IIMs) and others have placed their students before time and with the firms of their choice. For instance, BCG recruited 19 grads from IIM Ahmedabad (IIM-A) against last year’s 11 while IIM-Calcutta wrapped up its placement season in four days as against the five days allotted for the process.

On the other hand, at XLRI Jamshedpur, the highest domestic salary was Rs. 4 million compared with Rs. 2.3 million last year while Delhi-based Institute of Foreign Trade (IIFT) recorded a highest domestic offer of Rs. 1.9 million per annum up 22% from last year.

The batch at IIM-C comprising 356 students received 423 offers from 83 companies with 108 offers being made in slot zero which is the most coveted slot for recruiters. “Despite the economic downturn, IIM-Calcutta has been able to provide diverse opportunities to its students. The alumni played a very crucial role in this bad market scenario and were there to support us whenever we needed them. This shows the strength of brand IIM-Calcutta – very much in demand by recruiters, aided by a strong alumni base,” said IIM-C Placement Chairperson Amit Dhiman .

Similarly, XLRI concluded its final placement process in less than four days, with 98% of the batch getting placed within the first three days. “An unprecedented 284 offers made to a batch of 235 students and 73 companies participated this year in the final placement process,” the institute said in a statement.

BCG made almost 45 offers to seven B-schools last year and this year, it increased the number of offers to 60 of which 50 are with the IIMs. The average salary at Mumbai-based S P Jain Institute of Management and Research (SPJIMR) was Rs.1.54 million compared with Rs. 1.4 million last year and 51% of the batch had offers of Rs. 1.5 million and more.

As for the first time recruiters, Zurich Financial Services, a major financial services group, recruited exclusively from IIM-C (first time from any B-school in Asia) for its Zurich and New York offices while IBM Consulting participated in the final placements for the first time. Lenovo recruited for the first time from IIM Calcutta for its sales and marketing profiles. IIFT saw more than 33 first-time recruiters such as Duferco Group, Stemcor ,German logistics giant Duegro and Shree Renuka Sugars in supply chain and logistics, KPMG and Technopak in consulting, Goldman Sachs in asset management and Flipkart in e-commerce.

Source: The Financial Express, March 6, 2012

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