Brushing aside the economic gloom, most of the Indian Institutes of Management (IIMs) have completed their summer placements in record time with recruiters picking up fresh talents from the campus.
Moreover, the number of offers was also relatively higher this year, hinting that the worst for the industry could be over. India has 13 IIMs, the latest entrant being the one at Kashipur in Uttarakhand, inaugurated in 2011.
IIM Calcutta was able to complete its placement process in a record time of three days with the entire batch securing summer internship offers from different organisations.
Krishanu Rakshit, Chairperson, Career Development & Placements of IIM Calcutta said that the the mood was upbeat among the recruiters on campus.
“We received an overwhelming response from top-tier consulting firms as well as investment banks. We also tried to extend our base of recruiters by inviting globally renowned firms, some of which recruited from an Indian campus for the first time”.
IIM Bangalore was also able to conclude the summer placement process in a record time of three days.
Sapna Agarwal, Head, Career Development Services said that 135 recruiters visited the campus resulting in 398 internship offers for students.
“The fact that for a significant percentage it means a translation into a job, the placements become all the more re-assuring. There were more companies and they gave more offers,” she added.
IIM Lucknow, has also bagged 100% summer placements for its 29th batch of 475 students, the largest, in a record time of 5.5 days.
Prof Pushpendra Priyadarshi, chairman, Placements of IIM Lucknow, said that the placements were better this year compared to last year. “More companies came and we had more offers. I do not think that the economic conditions have played any role.”
Some private institutes are also upbeat on summer placements.
“We had to actually refuse some companies. I would say that the offer per student this year increased to nearly 2 compared to 1.6 last year,” said Tarun Anand, co-founder of Universal Business Schools, Mumbai.