New Delhi: The summer placements at the Indian Institute of Management, Ahmedabad, (IIM-A) have started off well, the premier business school said in a statement on Monday.
Consulting firms McKinsey and Co., Boston Consulting Group and Bain and Co. will have three to five students joining them as summer interns in April next year. Investment banks such as Goldman Sachs, Morgan Stanley and Barclays would also accept five summer interns each, the institute said. Royal Bank of Scotland hired at least 10 summer interns for its Hong Kong, Singapore, New Delhi and London offices.
Not less than 300 students slated to graduate in 2011 will start summer internships next year.
A good summer placement season could be a precursor to a robust job market for graduates in February next year.
“Yes, it definitely felt like a good placement season. Lots of familiar names were back on campus,” said Abhishek Malhotra, partner at consulting firm Booz and Co., which offered three internships. “There was a good sense of optimism from students as well as recruiters.”
India’s business schools were impacted by the global financial crisis and the absence of Wall Street recruiters in the final placement season of 2009, when graduating students find full-time jobs, despite a good summer placement season in 2008.
IIM-A had announced after the final placements 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.
“A day that began with great apprehension for the first year students gradually brought relief and cheer to the students as they found that placements had indeed started on expected lines, with regular partners back to recruit and some new firms to choose from”, said Rohan Desai, a student at the institute who interacts with the media.
Some of the other consulting firms that recruited summer interns were AT Kearney and Arthur D. Little.