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It's raining job offers at the IIMs

Last updated on: March 4, 2011 14:19 IST

It's raining job offers at the IIMs

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BS Reporter in Bengaluru/Mumbai/Kolkata

The recently-concluded lateral placement process at IIM-B saw the emergence of management consultants as the preferred choice for more than 55 per cent offers.

Deloitte had a total of 13 acceptances followed by Infosys Consulting at 11. 

Some of the other companies that offered Management Consulting positions were Accenture, Ernst & Young, PwC, Virtusa, Cognizant Business Consulting and Wipro. Several firms, including ZS Associates, Siemens Management Consulting & Infosys Consulting, recruited exclusively from IIM-B. 

The number of lateral placement offers from the financial services sector also saw an increase.

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Prominent banks, several private equity firms and a hedge fund participated in the lateral recruitment process.

A Dutch bank offered a student an international assignment.

Yes Bank and Chrys Capital were the largest recruiters in this segment.

Students with a minimum of 22 months of full time work experience were interviewed for offers.

The lateral placement process at IIM-B this year witnessed an increase of more than 100 per cent in the number of participating firms compared to the previous year.

Significantly, acceptances of lateral offers by students rose by 70 per cent year-on-year.

Close to 15 per cent of lateral offers were made in the general management sector.

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Image: Employees at work in an IT company.
Photographs: Reuters
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The Aditya Birla Group, Hinduja Group, Philips, Schneider and the Adani Group made multiple lateral offers. Product Management roles were offered by HCL, Indus Valley Partners, InfoEdge, McAfee, Microsoft and NetApp among others. Some of the other firms that participated in the process were DPDHL (Singapore), Google, Heidrick & Struggles L & T Group and SunEdison.

The final placement process for the IIM-Bangalore graduating PGP Class of 2011 will begin on March 05.

The process will oversee placements for a batch size of 348 students, 16 of whom have chosen to defer their placements in pursuit of entrepreneurial ventures.

Over 100 companies will participate in this year's final placement season.

ICICI Bank, Deloitte top recruiters at IIM-L lateral placements

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The Indian Institute of Management Lucknow has wrapped up its higher entry placement process, with over 75 firms offering roles across various positions.

ICICI Bank led the pack with 22 offers for investment banking, followed by 20 from consulting major Deloitte.

Apart from traditional recruiters like the Aditya Birla Group, Capgemini, Goldman Sachs, L&T, Mahindra & Mahindra, the institute saw international offers from Ernst & Young Dubai, Olam International and HCL.

IIM-L also saw 25 first-timers like the Adani Group, CEB, Ford IT, HP, i3 Consulting, Info Edge, Infomedia, JLT Group, Nereus Capital and Target on its campus.

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Students were also offered roles in human resources department from the likes of Glenmark and BA Continuum.

Information technology firms like Amazon, Google and Microsoft IDC hired for product management and online sales & operations profiles.

HEPP provides an avenue for recruiters to find a suitable channel for meeting their mid- and higher-level management requirements from the diverse batch of IIM-L.

This time, over 50 per cent students at IIM-L for lateral placement were eligible for lateral placement.

The average work experience of the batch is 34 months.

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JBIMS sees 21% jump in package

Meanwhile, final placements at the Mumbai-based Jamnalal Bajaj Institute of Management Studies also took off on a positive note.

The average salary for this year stood at Rs 15.54 lakhs (Rs 1.5 million), 21 per cent higher than last year.

The highest package for a domestic job -- Rs 26 lakhs (Rs 2.6 million) -- has been offered by a leading consulting firm.

More than 100 companies had registered for placements and extended offers to 111 students.

About 24 per cent students of the institute's 2011 batch have got pre-placement offers.

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Indian Institute of Management-Calcutta, the oldest institute in the IIM system, saw participation of 25 companies on the first day of final placements for PGDBM students -- a significant increase over last year.

"We went into the final placements with more than 230 offers already made. This year, we have seen more companies and better offers by way of salaries on Day-zero, signaling a return of a boom phase," said a student placement coordinator at IIM-C.

The process of placement that goes on well into the night saw an increase in participation from finance companies, a traditional stronghold for IIM-C. Among companies to have made offers were United Bank of Scotland, Morgan Stanley, Citigroup, and Deutsche Bank among others.

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The most number of offers, however, were made by consulting firms like Mckinsey.

The company has, this year, made 13 offers, which are inclusive of four pre-placement offers.

This is the highest by way of numbers by the firm at any campus in the country.

The trend on Day-zero marked a consolidation of the recovery that was visible in campus placements at IIM-C in 2010, when the average salary saw a jump from Rs 12.7 lakhs (Rs 1.27 million) to Rs 15.32 lakhs (Rs 1.53 million).

"While it would be difficult to make comments about the average salary size given that the process is still in its early stage, it would be safe to assume that the overall size of offers is better than last year, marking an end to the recession-hit placement scenario of 2009."

Placements at IIM-C, like other IIMs, are divided into phases and slots. Lateral placements, which were completed in the last week of February, are mostly for students with work experience, the final placements which takes place over five days is for the entire PGDBM batch.


Image: IIM students.

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