After a year of slowdown and meltdown that saw the country’s hottest business schools in an uncharacteristic slump, the mood is perking up again.
Campus placement officers say pre-placement offers (PPOs) have started trickling in. More important, prestigious employers are eyeing talent again at the Indian Institutes of Management (IIMs) and other prestigious B-schools.
PPOs are made by companies to students who intern with them around May-June and continue until final placements are made around February-March.
“Many of our students have started getting PPOs from the companies they had done summer placements with,” said professor Prafulla Agnihotri, head of placement at IIM, Calcutta, which was in a recruitment slump just months ago.
Students are feeling better, but only just. “Our last batch got 50 PPOs due to recession compared to the batch before that, which bagged 90 PPOs. Though the market condition now is far better and the trend suggests that the condition this year would be better than last year, we are keeping our fingers crossed,” said Rohan Mahajan, of IIM-C.
Global consulting firm McKinsey cast a big vote of confidence in the IIMs. “As in previous years, we are continuing to recruit from this talent pool through summer internships for the class of 2010 and pre-placement offers for the interns of 2009,” it told HT.
Placement officers at IIM, Ahmedabad did not reveal details but termed the flow as ‘upward and encouraging.’ “We have received quite a good number of offers from consulting firms. Even the (investment) banks appear assuring and are expected to make offers,” said Himanshu Nema, head, student placement committee, IIM-A.
At IIM, Bangalore, around 40 offers have been made already. Senior officials said consumer goods and consulting firms were keen hirers. “I am not able to judge the hiring mood, but the few recruiters that I have talked to seem to indicate that the sentiment is positive,” said associate professor P.D. Jose at IIM-B.
“PPOs come in throughout the year and we expect the total number of pre-placement offers to be much higher than last year,” said R.L. Raina, head of placement at IIM, Lucknow.
Professor Niraj Kumar at Xavier Institute of Management, Bhubaneswar (XIMB), said enquiries were picking up this year, but gave no details.
“We have made five offers to students of IIM-A and IIM-B. Salaries had dropped significantly last year but I expect they would be higher this year,” said Suvojoy Sengupta, managing director at consulting firm Booz & Co’s Indian unit.
“We expect the number of hires to be higher compared to last year although the plans are not finalised yet,” said Dhananjay Bansod, chief people officer at consulting firm Deloitte India.
Ruchi Hajela in New Delhi with inputs fromSoumyajit Pattnaik, Bhubaneswar, Mou Chakraborty, Kolkata, Prasad Nichenametla, Ahmedabad and B Vijay Murty , Jamshedpur