The National Institute of Bank Management (NIBM) achieved 100% placement in just a couple of days this year, with private banks making a beeline for the NIBM talent. The institute also saw consultancy firms and IT companies coming for recruitmet drives.
With payments banks coming in, a surge in demand is expected for talent.
There was a concern at NIBM after the Supreme Court debarred public sector banks from recruiting directly from the campus two years ago. NIBM is promoted by these banks and subsidised heavily. Earlier PSBs used to compete with each other to get students from here and each student had four offers.
“We ran out of students this year,” says Dr Achintan Bhattacharya, director, NIBM. The demand for expertise in the banking domain was such that the entire placement was completed in a couple of days. The batch size is limited to 60 and will be increased to 90 in academic year 2016-17, Bhattacharya said.
NIBM reached out to the private sector banks and matched the student profile to their requirements and we have achieved 100% placement in the last two years, said Dr Sanjay Basu, associate professor, finance and coordinator of the PG Diploma in Management Committee, NIBM. There has also been a 25% rise in compensation, Basu said.
The students have been picked up for core domains such as risk management, treasury, credit and IT.
This year Axis Bank picked up 14 students, HDFC picked up eight students while ICICI Bank and Federal Bank have taken five students each. Consultancies Deloitte, KPMG and Imacs (ICRA management and consultancy services) have together taken 10 NIBM students. Wipro and TCS hired four. Janalakhmi Financial Services and National Payments Corporation of India Limited made more offers but could pick up only 8.
There is choking at the entry point, says Bhattacharya. According to him the larger concern for the banks is that 75% of the cadre will retire by 2020 and these will included AGM, DGM and GM levels and how will they replace them, says Bhattacharya.
As private banks remuneration is higher at junior levels, there is attrition from PSBs at these levels, he said. Banks will have to face these issues as there is absence of good people and it takes time to train and groom people to take over senior levels, he points out.
