Summer internship placements at most of the Indian Institutes of Management (IIM) have been robust this year despite the economic slowdown. Both the number of companies and offers has increased, and the placement process was wrapped up in record less time.
IIM-Calcutta finished its summer placement process in three days, placing a record 441 students who received 465 offers from 155 companies.
“The mood was quite upbeat among recruiters. We received an overwhelming response from the top tier consulting firms as well as investment banks. We have also tried to extend our base of recruiters by inviting other globally renowned firms, some of whom recruited from an Indian campus for the first time,” said Krishanu Rakshit, Chairperson, career development & placements, IIM Calcutta.
IIM-Bangalore also concluded its summer placement process in three days. “135 recruiters visited the campus resulting in 398 internship offers. There were more companies and they gave more offers,” said Sapna Agarwal, head, career development services.
IIM Lucknow also secured summer placements for its 29th batch of 475 students, the largest, in 5.5 days. Prof Pushpendra Priyadarshi, chairman, placements of IIM Lucknow said placements were better this year than last year. “More companies came and we had more offers. I do not think that the economic condition played any role,” he added.
Some private institutions are also upbeat about summer placements. “The offer per student increased to nearly 2 from 1.6 last year,” said Tarun Anand co-founder of Universal Business School, Mumbai. “There was a substantial rise in the number of offers. The average stipend also saw a significant increase of 24%,” says Prof. Kanwal Kapil, chairperson, placements, MDI Gurgaon.