New Delhi: The Indian Institute of Management, Ahmedabad (IIM-A) opened its new staggered on-campus hiring process on the weekend, inviting the first batch of recruiters and winning 35-40 job offers for students, said a recruiter.
Hiring is brisker than last year, but not up to the 2007 or 2008 levels, in the process that started on Saturday.
“Compared to last year, people were feeling confident—both recruiters and students. I personally expected more banks, but they are staying away,” said Suvojoy Sengupta, a partner heading Booz & Co.’s India operations, who made an offer that was accepted on the first day.
Consultancies traditionally recruit in small numbers. Sengupta’s company hired two more IIM-A students by making pre-placement offers on the basis of their summer internships with the firm.
Sengupta said three banks—JPMorgan Chase & Co., Bank of America Merrill Lynch and HSBC Holdings Plc—joined half a dozen consultancies, including the Boston Consulting Group (BCG) Bain & Co. and A.T. Kearney Inc, and a couple of private equity firms. He said 35-40 job offers were made by recruiters.
IIM-A, in a statement, said BCG and McKinsey made eight offers each, including pre-placement offers. “While as per institute policy we do not release the aggregate number of offers, almost all recruiters are making more offers than last year,” said the statement.
IIM-A is placing a class of 298 students in the job market this year, of which 290 are part of the placement process. Last year, the school had a graduating class of 250-260 students.
The school, considered the best business campus in the country, has overhauled its on-campus hiring process for 2010, spreading it out over weeks instead of days, after the global financial and economic crisis badly hit its hiring, and confidence, in 2009.
This year, it has invited companies that offer similar roles, or similar salaries, in cohorts for six-seven weekends starting 13 February.