How B-schools attract MNCs for placements

The strategies of Indian Institutes of Management (IIMs) are fast being adopted by other Indian B-schools that have been periodically sending their management students to foreign destinations for internships in a bid to get the maximum number of MNCs to come to their campuses, besides using the alumni network to promote their institution on foreign land.

Moreover, in cases where MNCs don't come to them for recruitment, the B-schools themselves invite them to campuses for placements.

Consider this. For the first time in 27 years of its existence, the Institute of Management Technology (IMT), Ghaziabad, will send its students abroad next year for summer internship.

The students will pursue a two-month summer internship programme at companies in Malaysia, Singapore and Hong Kong.

IMT-Ghaziabad's placement chairperson, Nilanjan Chatopadhyay, has scheduled visits to 15 companies in Singapore and eight in Hong Kong from July 2007 to January 2008. The institute has set aside a fund of Rs 6 lakh for promotional activities like this one.

The Xavier Institute of Management, (XIM) Bhubaneswar, too, will send two of its students to foreign shores for internship this year. It initiated this process of networking when the institute's director and placement officer visited 100 companies last year in Singapore and Dubai.

The institute plans to visit around 150 companies this year. It shells out around Rs 6 lakh on such promotional activities and this year the budget might increase with the institute planning to approach companies in the UK and the US.

At IIM-Lucknow, too, the placement head will be travelling shortly to the US for the same. He has visited Singapore and Hong Kong already this year.

Besides visiting foreign companies, these institutes rely heavily on the alumni network, which does a good job of promoting them. "Our strong alumni network across the world promotes the institute well and a lot of companies come to our campus for recruitment," says an XIM-B professor.

The institute also maintains a database of MNCs visiting Indian B-schools.

Visiting MNCs not only help the institutes position themselves as strong brands but also give them the advantage of attracting better students in future. And for students, nothing can equate an international summer internship experience.

Says an IIM-Lucknow professor, "Getting foreign placement offers is crucial for us, and more important for students who get to learn a lot from international exposure."

No wonder, then, that foreign offers at Indian B-schools have been multiplying. Apparently, these foreign companies also get the advantage of picking up the best talent on day-zero of final placements.

Going Global

• Institutes are earmarking funds to promote their campuses globally.
• These institutes rely heavily on the alumni network to promote themselves.
• International placements help the institutes position themselves as strong brands.
• MNCs that throng these institutes get to select candidates on day-zero of final placements.