Big investment banks and consulting firms have again started hiring at the Indian Institute of Management, Ahmedabad — a sign that the gloom phase created by the economic slowdown is ending.
Goldman Sachs, Morgan Stanley and Barclays — investment banks — each hired more than five students.
Some other investment banks such as JP Morgan, Nomura, HSBC, Deutsche Bank and Citigroup also recruited.
The Royal Bank of Scotland hired more than 10 summer interns, to be posted in New Delhi, Hong Kong and London.
“The situation now appears a lot better than what it was last year. Many of these investment banks returned with force,” Saral Mukherjee, chairman (placements), IIMA, told HT.
Summer placements are meant for first-year students of the post-graduate programme in management and agri-business management.
The 2009-11 batch has 310 students in the post-graduate programme in management and 35 in agri-business management. The total number (345) has increased by 27 over the previous year because of extra admissions in the other backward caste category.
Recruiting firms will offer students an internship of 8-10 weeks in April-May. Though the final placements take place in February-March next year, the November placements are considered equally important as many of these internships turn into jobs by March.
Among consulting firms, McKinsey and Co, Boston Consulting Group and Bain and Co each will have 3-5 students joining them for summer internships in April. Other consulting firms that recruited include AT Kearney, Booz and Co and Arthur D Little.