AN OVERALL increase in all spheres has been seen in this year’s summer placement at the Indian Institute of Management, Indore (IIM-I), which has been the first to start and complete the drive this season from among the top B-schools of the country.
IIM-I Director Dr SP Parashar told reporters here on Tuesday that the success met in this year’s summer placement drive can be gauged from the fact that a total of 133 offers were made from the participating companies on day zero, which is an increase of over 82 per cent.
This is all the more important because this year the institute was reaching out for the first time with an increased intake of students from the 120 last year to 180.
Despite the fact not only the summer placement 2006-07 witnessed 100 per cent placement but also registered an increase on all fronts.
Usually a lot of interest is shown by the companies during final placements and last year 80 companies had shown their interest of which 55 were allowed, while this time during the summer placement itself 95 companies showed their interest of, which 58 were allowed participation.
Of the participating companies, 23 had come on campus for the first time. Presence of reputed multinationals including Olam International and Macquarie Bank, consulting firms Technopak Consulting and Jones Lang Lasalle, FMCGs majors including HLL, ITC, Asian Paints along with debutants Colgate-Palmolive and Reckitt Benckiser, investment and banking companies including Lehman Brothers and JP Morgan, retail giants like Reliance and RPG Group were the star attractions.
Placement committee chairman and Professor of International Business and Marketing and placement officer Abhay Kulkarni said that the average offer is Rs 3.5 lakh/company, which shows that there are more number of jobs offered to IIM-I students than their actual numbers even though there is an increase over the past figures.
Highest number of 42 placements happened in the IT/ ITES sector, while the least were in the emerging retail sector with six placements. The highest overall presence was shown by Finance followed by IT and Marketing sector companies.
The institute though being the youngest amongst the IIMs with only seven batches and 500 pass outs so far, has become the first in its league to open alumni chapters for Europe and USA. Dr Parashar said the first chapter was opened in London on October 14 having 22 members spread across Europe followed by the US chapter opened in San Francisco, California having 30 members on October 13.
Bangalore has become the newest addition to the already existing two chapters in Delhi and Mumbai. Over 40 alumni attended the ceremony in Bangalore on October 14.
The US and UK alumni chapters have most importantly promised to pen case studies, which can be used by IIM-I for teaching and thereby, convert them into management literature to be used as precedent for reference.
They will also offer their service as guest faculty for lecture whenever they come to campus. Apart from giving donations to the alma-mater the alumni are entrusted with the far more important job of brand image making.