Still to complete their study, five students at Indian Institute of Management, Calcutta have got pre-placement job offers with an average salary of Rs 1 crore, all coming from global investment banks.
"The number of offers have already surpassed the last year's figures when only four students had bagged PPOs till the time of final placements," IIM-C's student recruitment co-ordinator Mahesh Nair told PTI.
All the five offers are from international investment banks, Nair said, but did not divulge the employers' names. The process is still on and the institute expects more offers to come in the immediate future.
The other IIMs in the country are also seeing a rush of international corporates with an increasing number of pre-placement offers (PPOs) for their students.
PPOs are final placement offers made to the students based on their performance during the summer internship at a company after the first year of MBA.
"This year, we have seen a significant rise in the number of PPOs made to our students and this remarkable feature is unparallelled across all IIMs," the placement cell of IIM Banagalore said in a statement.
Job offers have been pouring for IIM-B students this year, with a record 70 pre-placement offers having been made for a batch of 250 students. At IIM-B, many companies are still in the process of completing the evaluation of candidates and more PPOs could be on way.
At IIM-Ahmedabad, nine students have already bagged PPOs from leading investment banks, with many more associate offers being in the pipeline.
"As of now, nine students have been extended associate offers this year - the highest across all B-schools in the country and by some distance. With more than six months to go before actual placements, this number represents a record of sorts," an IIM-A statement said.
IIM-A continues to attract top firms in spite of recent sub-prime crisis and the economic downturn, the release said.
"IIM-A students are obtaining senior level positions on par with global business schools, where the average work-experience tends to be much higher. A trend is visible that global recruiters find IIM-A students overqualified for entry-level positions," the institute's placement cell said.
IIM-Indore has also received around 21 PPOs so far, while IIM-Kozhikode has got 17 national and one international PPOs, the placement cell of these institutes said.
As per recruitment trends this year, the students are bagging good profiles in companies. However, IIM-B and IIM-A refused to disclose the salary figures of the students who have accepted the PPOs.
With March still being 6 months away, these figures suggest that future of Indian Institute of Management would hold umpteen lucrative and desirable opportunities.
IIM students have managed to get an increasing number of PPOs with companies like McKinsey & Co, Boston Consulting Group (BCG), Goldman Sachs, Lehman Brothers, JP Morgan, Citigroup, AT Kearney, HLL, P&G and Marico making final offers to the interns who worked across locations like London, New York and the Asia-Pacific.
"The summer internship process at AT Kearney gives us an opportunity to evaluate interns rigorously and assess them within the organisation. We are very pleased with the summer interns from IIM-B this year and have decided to extend PPOs to them," AT Kearney Principal Vikas Kaushal said.
"We have been associated with IIM Bangalore since last seven years and our experience has always been fantastic. Every IIM Bangalore intern with us so far has received a final offer," international management consultancy and research firm Boston Consulting Group (BCG) Principal Rahul Jain said.
Companies are increasingly finding the PPO route to final selection more useful as they get to take a closer look at the candidates during the summer internship, he added.
