IIM-K logs a neat placement feat, thanks to PSU white knights

Written by M Sarita Varma | Kozhikode | Updated: Mar 22 2009, 04:40am hrs
Taking a jumbo PG batch out through a bearish job market would have been mission impossible for IIM-K (Indian Institute of Management-Kozhikode), but then, enter Indian PSUs as the foul-weather friends. And meltdown or not, the B-school has wrapped up 228 offers for its 2009 batch of 185 students, its largest batch to date.

Of the 88 firms that took part in the placement rounds, as many as 35 were PSUs in the sparkling Navaratna league of SAIL and Bhel, IOCL and PSUs like Power Finance Corporation and Bank of Baroda.

Last year, attractive PSU recruiters were less than 20. This time, Sixth Pay Commission rollout has added extra lustre to the call of the social conscience. And when the managements could offer exactly the job-profiles that matched the student aspirations, they commanded preference over some private sector offers, Rohan Jaikishen of the IIM-K Placement Cell told FE.

In a pointer to the newfound PSU- B-School bonding, Bhel chairman Ravi Kumar is the chief guest for the convocation of the 11th batch of IIM-K this week.

The B-School admits to fall in the annual takehomes, compared to previous year. Because of early planning and action to get top recruiters on board, the impact of global meltdown was minimised, says Purani, chairperson, Placements.

The highest domestic offer - at Rs 24 lakh- came from a Mumbai-based investment bank. The average annual salary of Rs 10.54 lakh too is also lower than last years median of Rs 12 lakh. The highest number of placements were in finance.

Nothing reflected the deglamourisation of West than the huge skew of international offers to Southeast Asia. In fact, there is no fall in international recruiters, according to IIM-K.

There were offers from some firms in North Amercia and Europe too, but the trend among students is to prefer the roles on offer over compensation or location, says Sharat Babu of IIM-K Placement Cell. The batch notched 23 international offers. Highest international offer was $120,000.

The primordial call of going solo during tough times also came out in full play among those with high risk-appetites. Two students from the graduating batch decided to opt out of this years placement process to take the entreprenual plunge.