Placement extravaganza back in top B-schools
By Renjith VP, SiliconIndia | Friday, 19 November 2010, 06:30 IST

Bangalore: The dark clouds of global recession that shadowed MNCs have rained its course away and fresh news of placements in elite B-schools have sprout up again. The dismal placement season at the Top B Schools last year, seems to be a thing of the past. With the revival of the economy, organisations across industry are flocking back to B School campuses and are hiring in large numbers with compensation packages as alluring as ever.
And what does the latest hiring patterns show? No prize for guessing, IIMs remain the prime choice for recruiters this year too. Indian Institute of Management, Ahmedabad (IIM-A), the top rated b-school in India manages to place all its students this year around with newspapers celebrating the offer packages which IIM students gain which run in nothing less than 15- 20 lakhs. Rediff business reports that IT major Wipro made the maximum number of offers across multiple roles in consulting, eco-energy and corporate finance at the end of cluster three of summer placements at the IIM-A. However, the institute, which is conducting a cohort-based summer placement process for the first time this year, refused to divulge details about the number of offers. Several recruiters such as Airtel, Heinz, Britannia, Marico and Aircel offered sales and marketing roles, while Mahindra & Mahindra offered roles in general management. "This year once again, automobile giant Renault offered international roles," the institute circles stated.
This year saw many unconventional moves from students as well as many media and ad firms. In line with the changing preferences of students to seek challenging roles in new domains, the third cluster also saw several first-time recruiters like Ogilvy & Mather, S.Kumar's Group, Arvind Brands and Onicra. Continuing to opt for internship roles in politics and policy management as well, one of the IIM-A students has chosen to intern with PD Rai, Member of Parliament and an IIM-A alumnus. The summer placement season has also been buoyant at the IIMs. There were 100 offers even before the formal process for IIM Calcutta (IIM-C) students. While IIM Kozhikode saw an 80 percent rise in stipends, all 414 students at IIM Lucknow (IIM-L) managed internships which offers anywhere between 10-12 lakh during the period. Indian Institute of Management, Calcutta (IIM-C), witnessed a 20 percent rise in international offers made during the summer placement process this year with over 75 students being selected for internship at international locations as quoted by Business Line.
Though not registering a hectic placement activity at the outset, other elite B-school campuses are also closing in on the peak summer placement numbers which they had on 2007. "It has been easier to invite companies this year. We have also seen new firms and fresh profiles being offered to students which, at a summer internship level, are quite challenging. What more, we could place all the 120 students in four days," Saurabh Bansal, placement committee member at Mumbai-based Jamnalal Bajaj Institute of Management Studies (JBIMS) was quoted telling Sify finance. JBIMS has witnessed several first timers on its campus for the summer internships, including Reliance Industries and Schlumberger, apart from the regular investment banks. At Jamshedpur-based Xavier Labour Relations Institute, the present batch of 240 students has got 307 offers with the number of recruiters increasing by 27 percent. The average stipend for the internship period this year was Rs 1.12 lakh an increase of 26 per cent over last year. Aditya Birla Group and Goldman Sachs were the largest summer recruiters with 10 offers each.
With many other rounds of placement to go, almost every student in top management schools is confident of decent jobs with pay packages at the industry level. With big fishes hooking the cream of students in these institutions, B-school placement cells will be now looking forward to several start-up firms apart from groups in niche consulting, financial services and general management domains.