Home >education >news >IIM placements: Financial services, consulting firms top recruiters

New Delhi/Bangalore/Kolkata: The recruitment sentiment of employers in this year’s placement season at the premier Indian Institutes of Management (IIMs) has improved, with financial services and consulting firms remaining the top recruiters.

IIM-Bangalore (IIM-B) said on Monday that it completed the placement process in four days, quicker than last year when the business school finished the process in six days. Global software services and consulting company Accenture Plc made 13 offers, the highest by any company, followed closely by McKinsey and Co., Boston Consulting Group, Amazon.com Inc and Samsung Electronics Co. Ltd, which made 11 offers each.

“The financial services sector has again recruited in large numbers, which is a reflection of how the financial markets are reacting," said Sankarshan Basu, chairperson, career development at IIM-B. “I would tend to say that the job scenario is much better than last year."

A total of 428 offers were made from companies like Goldman Sachs Group Inc, HSBC Holdings Plc and LinkedIn to a batch of 388 graduates at IIM-B. Two students opted out of placement this year. In 2013, IIM-B received 415 offers from 150 companies to 367 students.

At IIM-Ahmedabad (IIM-A), where the placement process is underway, the trend of consulting and financial firms hiring in larger numbers was visible with Accenture making 18 offers, the maximum so far. Among others, A.T. Kearney Ltd, Bain and Co., Boston Consulting Group (BCG), Citigroup Inc, Deutsche Bank AG, Goldman Sachs, McKinsey and Co. and Oliver Wyman were leaders in job offers, IIM-A said in a statement. Other than consulting and finance companies, Reliance Industries Ltd was one of the top recruiters with eight offers.

IIM-A seeks to place more than 300 graduates this year.

“The IIMs are important sources of top talent of our growing business in India. We made 44 offers across IIM Ahmedabad, Bangalore, Calcutta and Lucknow, and were happy to note that we continue to be the top preference for most students wishing to pursue a career in a global consulting firm," Sachin Nandgaonkar, partner and director of BCG India, said in an email.

Although Krishanu Rakshit, professor-in-charge of placement at IIM-Calcutta, declined to comment on the placement progress, a placement officer at the institute had said last week that finance companies used to be their best recruiters followed by consultancies until last year, “when the trend started shifting towards consultancy due to the slump in investment banking sector. This trend was expected to continue this year." This person declined to be named.

Narayanan Ramaswamy, partner and head of education practice at consulting company KPMG, said that his organisation will hire some 200 graduate.

IIM-Lucknow (IIM-L), which successfully placed the 436-strong batch in 207 companies, said that despite the economic slowdown, it managed to become the first IIM to complete the process. At IIM-L, online retailer Flipkart was the top recruiter with over 20 offers.

Like IIM-A, IIM-L didn't divulge salary details. But, IIM-B said that average salary for students this year stood at 19.5 lakh a year, up from 17.28 lakh in 2013.

“This year the economy definitely looks to be in better shape than last year and companies also seem to be in a better hiring mood than last year," said Tamoghna Sadhu of IIM-B, who got a job offer at online retailer Amazon.

To guard against any problem in campus recruitment, IIM-L and IIM-Raipur said that they have broad-based their reach to companies and called more recruiters this year.

“The slowdown in the global economy that started 4-5 years ago reflected on IIMs’ placements only since the last two years. This year too, the placement mood is expected to be less robust than two years ago," said Rakshit, chairperson, career development and placements, IIM-C.

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