Placements at the Indian Institute of Management Bangalore has began on a healthy note. The summer placements at the premier management school witnessed enhanced participation and higher recruitment by both regular as well as new recruiters across sectors, according to its spokesperson.
The placements for the 2017-19 batch of the two-year Post Graduate Programme (PGP) at the institute held between October 29 and November 1. All the 401 eligible PGP students were recruited by more than 130 companies within the three recruitment slots, including for roles like strategy consulting, analytics, investment banking, capital markets, corporate finance, commercial banking, sales and marketing, business leadership, product management, operations, category management, IT consulting and general management.
There were 90 offers made in the domain of strategy consulting, 21 in business analytics, 27 in investments and capital markets domain, 38 leadership track or general management track offers, 51 offers in marketing and sales, and 54 in e-commerce and technology field. “The slight downturn that we had observed in the final placements of the batch of 2017, just eight months ago, has been corrected by a major resurge in hiring interest across all sectors for the IIMB summer placements,” said Ganesh Prabhu, chairperson, career development services, IIM Bangalore.
Offers came from across a spectrum of firms including, Accenture Strategy, A.T. Kearney, Boston Consulting Group, Bain & Company Analytics, KPMG, Goldman Sachs, Barclays, Citibank, JP Morgan, Morgan Stanley, the Reserve Bank of India, the Aditya Birla Group, Vedanta, Mahindra & Mahindra.
On the other hand, Bengaluru-based Jain University is not seeing much mass hiring in its Bachelors of Technology course. Only services companies such as Capgemini, SLK Software and HashedIn Technologies visited the campus for hiring. “The number of companies hiring have increased which is helping us in placing students. Companies are focusing now for skill-based hiring, i.e., earlier any student could apply but now only students who have done extra professional courses are eligible to apply. Since the companies want to hire the right candidate they have shifted full-time hiring strategy towards internship hiring. First, the student has to work in a company for three to six months and based on their performance he/she gets a pre-placement offer,” said Vishal Arora, chief manager—corporate relations, student career advisory and placement support team, Jain University and Jain College, Bengaluru.
Barring the IITs and IIMs, the other tier II and tier III colleges may have a tough placement season this year. “Not many companies are willing to come to the campuses of tier II and tier III colleges. A few engineering colleges in Tamil Nadu are on the verge of shutting down their IT and Computer Science departments due to low demand. The golden era of IT services hiring is gone and even in the manufacturing segment many mechanical engineers, even from the IITs will find it tough to get a job. Even if they land in a campus placement the offer salary is expected to be in the range of Rs 5-6 lakhs for a beginner in manufacturing firms,” said Kris Lakshmikanth, founder of recruitment firm Head Hunters India Limited.
In case of commerce and management segment, though many previous recruiting companies have made a come back their hiring numbers have, however, reduced. “The IT and ITES companies are shying away to come to our campus as they are yet to get their manpower hiring numbers and are seeing less attrition rates compared to previous years. We have seen that KPMG, Ernst and Young, State Street Generale, Northern Trust, etc have hired good number of management students from our university. We have also observed an increase of about 20-30 per cent in the CTC being offered when compared to the previous year. However, they have been very choosy about whom to hire. They want only the right fit and for this they are compulsorily asking students to take online test and a psychometric test,” added Arora.