Placement cloud over IIM-A
"Will the crisis in the global economy affect the placement process at IIM, Ahmedabad, this time?" That's the question haunting staff and students at the premier B-School, which has topped placement records for the past several years.
The annual placement procedure for a batch of 245 students began in IIM-A on Thursday with the usual arrival of top corporates, but the fraternity here are worried that the sub-prime crisis and resulting job-cuts in the West may affect the packages offered.
"The high-risk lending in the West have led to job cuts, which might affect placements here," Professor Piyush Sinha, who is in charge of the Placement Cell, told Hindustan Times on Thursday.
IIM-A sources said their worries were compounded by the news of the not-so-good placements at the IIM, Bangalore, this year.
"If the placements here are good despite the current global scenario, it would prove that we are really No 1 (among Indian B-Schools)," said Sinha.
He said he was fairly optimistic as the "kind of jobs IIM-A graduates can handle are of different nature".
Moreover, Sinha pointed out that jobs in the emerging economies in the East might not be affected by the crisis in the West, thereby implying that Singapore, China and Far East could be the new destinations for IIM-A graduates this time.
In an attempt to encourage students to set up their own business, the IIM-A had last year amended its rules to allow its alumni to come back for placement within two years of opting out.
But none of the eleven who spurned fat pay packets last year have turned up this time to seek a new job.
This year, at least 11 students have opted out of the campus placement process to start their own ventures.