New IIMs, other B-schools see robust start to placements
While international job offers have returned, consulting and analytics, marketing and financial sectors continue to be key job drivers
New Delhi: Ahead of the final placements at top Indian Institutes of Management (IIMs), other leading business schools, including some new IIMs, have seen a good start to placements. Some of them have placed their entire graduating batch within a few days.
While international job offers have returned, consulting and analytics, marketing and financial sectors continue to be key job drivers.
“We have placed nearly 90% of the 170-odd students seeking jobs as of now, and as a young IIM, we are happy with offers both in terms of positions being offered and the average salary,” said Arkaprabha Sanyal, a graduating student at IIM Udaipur.
IIM Rohtak, too, has placed more than 75% of its graduating students, with a general increase in marketing and financial job offers.
The commerce ministry-run Indian Institute of Foreign Trade (IIFT) said it has placed its entire batch of 288 management students within a week.
“Along with top consulting, financial and marketing jobs in India, we have received a good response from international firms,” said Sanjay Verma, in charge of placements at IIFT in New Delhi. IIM Udaipur saw a similar trend.
IIFT students received some 31 international offers this year, 55% more than last year. Verma said while 110 companies had confirmed their participation in campus recruitment, the “placements were wrapped up with 94 recruiters”.
The RP-Sanjiv Goenka Group-promoted International Management Institute completed its final placement in just three days. “A mix of sectors, ranging from banking and financial services, information technology, and consulting...gave students an option for a large variety of profiles and greater spread for their career choices,” the business school said in a statement.
The placement process at other B-schools, including Birla Institute of Management Technology in Greater Noida, Great Lakes Institute of Management in Chennai and Management Development Institute in Gurugram, has also seen a good response from recruiters.
Banking and financial services firms such as Axis Bank Ltd, Citibank, Goldman Sachs, ICICI Bank Ltd, HSBC and JPMorgan Chase & Co.; US multinational food and beverage firm PepsiCo.; IT services firm Tech Mahindra Ltd; consulting firms such as Deloitte and EY India; consumer goods makers, including Hindustan Unilever Ltd, ITC Ltd and Nestle; and credit rating firm Crisil Ltd were among lead recruiters across campuses.
However, the increase in salary offers was not uniform across schools. While some such as IIFT saw around 5% hike in average annual salary (Rs19.23 lakh per annum), IIM Udaipur saw an average increase of over 10%.
A subdued economy has crimped the hike in salary offers over the past couple of years. For example, at IIM Ahmedabad, the average salary offered to its 2017 graduating batch was Rs22.57 lakh, against Rs22 lakh in 2016.
B-School placements do not fully reflect the larger jobs scenario, but they do point to an economic revival.
“I am really optimistic about 2018... Dark clouds over some sectors have started clearing. Consumer-led industries, financials, payments banks, e-commerce, etc will lead the way in 2018. We believe manufacturing sector will revive and create more jobs,” said Rituparna Chakraborty, president of the Indian Staffing Federation, and executive vice-president of TeamLease Services Ltd, a human resource and staffing firm.