Campus placement at IIMs, top B-schools sees robust response
New Delhi: Final campus placements at top B-schools, including the older Indian Institutes of Management (IIMs), have started on a strong note with some institutes finding jobs for their entire outgoing batch within days, indicating a possible uptick in the job market.
IIM Calcutta on Tuesday said it had completed placements for all outgoing students in two days. XLRI Jamshedpur and IIM Lucknow took less than four days. At IIM Ahmedabad, the first cluster placement is over and two more are expected to end by Friday.
IIM Bangalore has received 150 pre-placement-offers (PPOs)—38% of its entire batch size—before the start of the final placement scheduled for this weekend.
Many other B-schools, such as Indian Institute of Foreign Trade, the RP-Sanjiv Goenka Group-promoted International Management Institute in New Delhi and several new IIMs have also completed their placements.
This has been a good year for both summer placements as well as final recruitments, Uday Damodaran, placement head at XLRI, said in an emailed response.
Along with the quality of teaching, the economy was cited as a reason for the strong show by IIM Lucknow. The B-school said that this year saw a 20% increase in the number of PPOs, and a 30% rise in the number of offers from the higher entry placement process.
Among sectors, consulting and financials were the lead recruiters. At IIM Calcutta, consulting was the top recruiter, with 27% of the total offers. Accenture Strategy was the top recruiter, followed by Boston Consulting Group (BCG), Bain & Co., McKinsey & Co. and A.T. Kearney.
“A total of 481 offers were made out of which nearly 50% were from the finance and consulting sectors,” IIM Calcutta said on Tuesday in an email.
Of the 454 offers made at IIM Lucknow, 23% each were for finance and consulting roles while around 24% of the jobs were for sales and marketing, the B-school said in its placement report.
At IIM Ahmedabad, Accenture Strategy (17 offers) and BCG (15) were the top recruiters during the first cluster placements. Consulting, finance and investment and private equity firms were among those who participated in the first round.
Among other companies which made good offers at top B-School campuses were JP Morgan & Co., Bank of America Merrill Lynch, Morgan Stanley, Bessemer Venture Partners, Goldman Sachs, Citibank, Avendus Capital, ICICI Bank, Wipro Ltd, Amazon, Oyo Homes, the Aditya Birla Group and ITC. Several public sector enterprises, too, have hired from lead management schools.
Though IIMs did not divulge details of their salary offers, XLRI said the average salary offered to its students this year stood at Rs20.1 lakh per annum as against Rs19.21 lakh the previous year.
To be sure, placements at IIMs and other top B-schools do not reflect the entire jobs market in India, but are indicative of the job environment, experts said, adding that 2018 will be much better than 2017 for job creation.
“Looks like there is a slow and steady revival of the job market… sectors like banking, financial services and insurance, auto, engineering and industrial products continue to sustain the momentum gained over the past few months,” V. Suresh, chief sales officer at job portal naukri.com, said on Tuesday while releasing their monthly jobs forecast.
The India Skills report by the Confederation of Indian Industry, All India Council for Technical Education, human resource consultancy PeopleStrong and skill assessment firm Wheebox, released last week, also projected a higher hiring intent in 2018.