Bangalore: After 10 days, the longest in recent memory, the placement season at the Indian Institute of Management, Bangalore, or IIM-B, came to an end on Monday.
Slow season: A file photo of an IIM Bangalore classroom. On the last day of placements, four state-owned firms visited the campus. Hemant Mishra / Mint
All 250 students of the B-school’s graduating batch found jobs. The school did not provide details of the average salaries offered for domestic or foreign jobs.
Last week, IIM Ahmedabad, or IIM-A, widely regarded as the country’s best B-school, announced that it had taken nine days to find jobs for students in its graduating batch and that average domestic salaries on offer had fallen 32% to Rs12.17 lakh a year. The country’s premier B-schools have seen a tepid placement season in the wake of a global financial and economic crisis.
IIM Calcutta, or IIM-C, is expected to announce the details of its placement season on Tuesday. And IIM-B also plans to brief the media on placements on Tuesday, according to Sourav Mukherji, associate professor and chairperson, placements at the school, who confirmed that the placement seasons had ended.
On Monday, four state-owned firms were among the hiring firms at IIM-B. Gas marketers and transporter GAIL (India) Ltd, power generating firm, NTPC Ltd, and fuel retailers, Bharat Petroleum Corp. Ltd, or BPCL, and Hindustan Petroleum Corporation Ltd, or HPCL, interviewed and evaluated around 20 students and made 10 offers. It wasn’t immediately known how many of these had been accepted.
The placement season at IIM-B began on 27 February and around 100 companies visited campus this year. Last year, 70 companies participated in the season and hired 250 students in a matter of 3-4 days with the overwhelming majority of students joining investment banks and consulting firms. At least half the class of 2008 also managed overseas offers.
Companies that recruited from IIM-B this year include consulting firms Booz and Co., Bain and Co., McKinsey and Co., Boston Consulting Group and AT Kearney Inc.; Indian arms of international banks, Citibank NA, Hongkong and Shanghai Banking Corp. Ltd, Standard Chartered Bank; private bank, Axis Bank Ltd; and first-time recruiters Usha International Ltd, Mahindra and Mahindra Ltd.