Indian Institute of Management, Bangalore (IIMB) concluded its summer placement process with 120 students being placed in the `slot zero? category despite fears of a global recruitment crunch.
Slot zero placements, which comprised more than 45% of the total students, showed a 9% dip from last year, beating the market perception of a 50% dip, said IIMB officials.
The institute also said that there was an increase in the number of recruiters with over 110 companies this year, as opposed to 65 recruiters who were present last year.
Sourav Mukherjee, chairman of the placement committee, IIMB said, ?there is no denying the fact that the market situation is tough. But we made efforts to get as many companies as we could on to the campus, the new firms in particular. We were confident that once they came and saw the quality of the students, they would hire.?
The batch of 268 students, the largest to date for IIMB, was placed within a span of 4.5 days, with 24% of the batch accepting consulting jobs, 21% choosing finance and 20% opting investment banking.
Of the other areas, marketing and general management attracted 13% each.
The institute also said that contrary to market expectations, over 45% of the batch was placed in the finance sector, with 43% of the slot zero placements belonging to investment banking.
Aditya Gupta, placement committee member IIMB said, ?International offers continue to remain strong at investment banks. Students chose to intern abroad due to challenging market situations and learning experience.?
International companies, which recruited 85 students included companies such as McKinsey and Co, Boston Consulting Group, Bain and Co., Merrill Lynch, Royal Bank of Scotland, Freudenberg (Germany), Bank of Muscat, and a host of other first timers.