Tuesday, March 06, 2012

Slowdown hits B-school placements

With the global slowdown firmly in place, Indian B-schools are feeling the heat. Several B-schools including the Indian Institutes of Management (IIMs) are yet to complete their placements process. While many of them are usually out with their reports by February end, some might take a fortnight more. To ensure all students are placed, some B-schools are not allowing students to sit for interviews after they have already bagged an offer or they are just approaching newer sectors to make up for the lack of jobs in finance. Most of them claim slowdown has not hit the firms, but they are just being cautious in recruiting.

IIM-Kozhikode, which had concluded its placement process by March 3 last year, will take at least a week more this year. G Sridhar, chairperson-placements at the institute, said, "The market is a bit slow this year. We should be able to get over with it by the end of the week." To ensure that the process gets over soon and all students get a job offer, the institute this year has not allowed multiple offers to one student.

IIM-Indore has a unique problem affecting their placements this year. The size of the batch passing out has gone up from 240 last year to 450 this year. Bhaskar Chaudhary, secretary of the student placement committee at IIM-Indore, said, "Last year, we were done with placements by mid-February. This year the batch size has almost doubled. We are done with three phases and there is one more to go. The job market is not as buoyant as it was last year."

Though IIM-Ahmedabad has already completed with four clusters of students, there are a few students who are yet to be placed. According to their website, the final placement process of the institute will now proceed on rolling basis where in firms will be invited to campus based on student preferences. Amith JM, the member of the cell, however, said that the slowdown has not affected their placements, but refused to divulge details about the numbers of students already placed out of the batch of 373 candidates.

IIM-Bangalore refused to comment on the trends, before their reports would be out, this week. XLRI, though has completed the process, the number of job offers have gone down claimed Ashish Srivastava, member of the placement cell . "Last year, the average job offer made to each student was 1.3, this year it came down to 1.2. Job offers made to students was affected, especially in the finance sector," Srivastava said.

Source: The Times of India, March 6, 2012

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