As the lateral placements are going on in full swing at the Indian Institutes of Management (IIMs), some are seeing an increase in international offers, especially from companies in the Middle East, whereas others are yet to see any such significant offers.
IIM-Lucknow has 90 students eligible for lateral placement this year, and as of now, 50 offers have been made by different companies across various sectors. Of these 50 odd offers, around 10-12 are international, especially from companies in the Middle East and some from the APAC region. At least 4-5 companies are from the Middle East. Amidst the current market situation, the institute has also been pursuing companies from the Middle East to come to the campus during placement as this region is comparatively less affected by the slowdown.
The average salary package for the lateral process at the IIMs falls somewhere between Rs 15-18 lakh (approx) depending on location and work experience. ?There has been an increase in the international offers this year, mainly from the companies based out of the Middle East. Last year, there were a couple of offers from these regions, but this year it has increased. The institute has also pursued organisations from these regions to come to the campus since the economic situation is better in places in Middle East, such as Bahrain and other places. We also have international offers from Singapore in the APAC region,? commented Ruchir Kancherla, placement coordinator, IIM-L.
As many as 20 companies have visited the IIM-L campus as of now for lateral placement which is about to go on for another 10 days. Last year, 30 companies visited the campus for 100 students. However, this year the institute expects lesser number of companies by the end of the lateral placement process gets over. ?We are expecting lesser number of companies for obvious reasons. However, there?s not much difference in the position and the packages that are being offered,? commented Ruchir.
However, IIM-Calcutta is yet to see some concrete international offers for its 155 registered students eligible for the lateral placement. The process is supposed to go on till February 19 and the institute has seen 15 companies visiting the campus as of now, as compared to 46 companies that visited last year. Though some companies have given hopes of sending some of the recruits to international destinations, it might only happen after a training period of 6-8 months.
?In our campus, it is mainly the Indian companies that make international offers. However, this year we are yet to see some concrete international offers. Companies are in a wait and watch mood and the feeling is that some of the management professionals could be send to international locations, but that might happen only after a period of at least 6 months, which would be considered as a training period for them before sending them to an international location,? commented Paul Savio, external relations secretary, IIM-C.
IIM-Ahmedabad, however, refused to comment on the international offers for its ongoing lateral placement for the 112 odd eligible students. The students are showing interest for challenging job roles over stellar salaries, the institute said. ?Market conditions are a big factor affecting campus placements this year. Our students are increasingly preferring challenging job profiles over stellar salaries,? commented a spokesperson from IIM-A.