The number of students recruited by firms across sectors from top management institutes, including the Indian Institutes of Managements (IIMs), has dropped this year, as compared to last year, compelling these institutes to invite more companies to their campuses. Also, top finance companies seem to have given these management institutes a miss this time for their summer placements.
For instance, IIM Lucknow saw 120 companies visiting its campus this year, up from 80 last year. IIM Calcutta witnessed 109 companies coming to campus for this year?s placement, up from 72 last year. Around 100 companies visited IIM Ahmedabad?s campus to recruit 262 students from the current batch for summer placements, up from around 80 last year.
?The requirements of companies across sector have gone down this year, and thus we had to call more firms for placement. The top finance companies were also absent,? said Sushil Kumar, chairman, placement, IIM Lucknow.
As the finance sector is badly hit, management institutes saw many changes in their hiring policy.
Whereas many of the top finance companies (including those that were hit badly by the global turmoil) were absent from the campus during placements, those who were present hired fewer candidates as compared to last year.
IIM Calcutta also saw a host of new companies coming from some new sectors such as the media houses, retail and operations.
?Of the total companies visiting the campus, 42 companies were new this time. Owing to the global financial crisis, the intake was expected to be lower than the previous year. In anticipation of this situation, many new firms were invited, from across many new sectors,? said Paul N Savio, external relations secretary, IIM Calcutta.
Many students declined campus placement offers and showed inclination to join start-ups and get involved in entrepreneurship ventures. ?The current batch has an average job experience of 2.5-3 years. A number of students declined placement offers, as the profiles and the salaries offered was not according to theirexpectations,? commented Sushil.
?The summer placements are very important as the pre-placement offers for the final placements start coming from summer placements. So, the company, the profile offered by the recruiters and the salary package are extremely important things to be considered during the summer placements,? said Akshat Jain (name changed), a management student from Mumbai-based Narsee Monjee Institute of Management Studies (NMIMS), another top management institute.
No takers
• IIM Lucknow saw 120 companies visiting its campus this year, up from 80 last year
•IIM Calcutta saw 109 companies coming to campus this year, up from 72 companies