Happy end to campus hiring
A sense of relief was evident at the Indian Institute of Management-Bangalore (IIM-B) campus as firms signed up its graduates at the end of a stretched-out placement season. BR Srikanth reports.Updated: Mar 11, 2009 01:56 IST
A sense of relief was evident at the Indian Institute of Management-Bangalore (IIM-B) campus as firms signed up its graduates at the end of a stretched-out placement season. Over nine days, a long-drawn process impacted by the global economic downturn, 97 companies hired 242 of the 249 B-school graduates. Seven graduates opted out of the placement process in search of a future as entrepreneurs.
Pankaj Chandra, director of IIM-B summed up the sentiment at the end of campus hiring: “It is an unusually optimistic outcome, given the collapse of the global economy and the fact that half the students of international B-schools did not get placements.”
However, recession had thrown open new avenues and broadened the base of sectors where students could be placed. “There are challenging opportunities and people are more open to new jobs. The new sectors that have opened up this time include entertainment, media, FMCG (Fast Moving Consumer Goods) companies and clean energy companies,'' Chandra told mediapersons on Tuesday.
Consulting continued to be a preferred destination of the graduates, with 25 per cent of the batch opting for such jobs. Besides, this year’s hiring also witnessed a proactive role by eight public sector companies, which signed up 15 graduates.
Chairman of IIM-B Placement Cell, Sourav Mukherjee, said, “The salaries offered here were on par with the offers made in other B-schools. The companies that came are paying on par or even slightly higher salaries this year to what they paid last year.”
Shyam Unnikrishnan, who has taken up a consulting job with Bain & Co, told HT, “It was an uneasy feeling (during placements), but professors told us that our batch will be unique because of the multiple sector openings. The recession is making us think afresh how to deal with jobs.”
Not so rosy at IIM-C
At IIM-Calcutta placements salaries went down by 23 per cent and more than half the companies which came last year gave the institute a miss this time. “This is my seventh year at IIM-C and this was the toughest year for placements during my tenure”, said IIM-C director Shekhar Chaudhuri.
(With inputs from HTC, Kolkata)