B-schools cheer as placement season off to a good start
This trend has been seen both in the summer placements for the students as well as the final placement of the students who will graduate in 2017.
In a sign the job market is resilient, the placement season at B-schools has shown a remarkable improvement over last year. On an average the number of companies paying campuses a visit went up by 10 percent and the average summer stipend promised to students who will be graduating in 2017 by 5-10 percent.
XLRI -- Xavier School of Management had the entire summer placement for its batch of 361 students completed in slightly over two days. The summer internship recruitment process saw participation from 92 companies offering 156 roles across domains including consulting, finance, sales and marketing, operations, business development, human resource and industrial relations.
In addition to the above, 21 first-time recruiters participated in the recruitment process and offered 28 new roles across domains. While e-commerce was a major recruiter last year accounting for 8 percent of the offers, this number has halved this year to 4 percent.
The final placement process is still on at XLRI - Xavier School of Management and officials looking into this process said that the response from the companies has been good. The process is expected to be completed in the next few days.
E Abraham, Director, XLRI - Xavier School of Management said, “Our students have got into diverse industry sectors which is an affirmation of the all-around integral formation we strive to impart to our students.”
Indian Institute of Management (IIM) Udaipur managed to place 90 percent of its 144 batch strength -- an achievement of sorts considering that it had raised its strength by 22 percent over last year. The placement committee said that 53 companies participated in the final placements out of which 26 companies were visiting for the first time.
Further, there was also a 33.3 percent increase in international placements. Here, the largest numbers of offers have been made in banking, financial services and insurance followed by information technology.
The number of pre-placement offers (PPO) and pre-placement interviews (PPIs) also went up. According to the placement committee of IIM Udaipur, 23 percent of the batch received PPOs/PPIs based on their performance during the summer internship, which was an 83 percent increase from last year.
Pre-placement interviews are conducted by companies for candidates who have interned and are found to be suitable for permanent employment. Pre-placement offers are job offers given to candidates who have interned with the company based on their performance during the short stint.
Consulting firms followed by BFSI firms are usually top recruiters at the premier management schools every year. This trend continued this year, too.
At IIM Lucknow, 100 percent final placements were completed in just over 3 days for 435 students. The recruitment drive saw participation from over 170 domestic and international recruiters.
Some of the top recruiters across different sectors were McKinsey & Company, The Boston Consulting Group, Aditya Birla Group, Amazon, Hindustan Unilever, among others. They had Clinton Health Access Initiative, EMAAR, Societe Generale, among others as first-time recruiters. International profiles were offered by Capgemini, EMAAR, UAE Exchange and Olam International.
Non-IIM business schools have had an equally strong placement season. At IMI, New Delhi, the entire batch of 2015-2017 was placed within 3 days of the placement week. With more than 80 companies coming to the campus, the placement season saw a hike in the average package to Rs 12.5 lakh per annum.
Companies from the BFSI space included JP Morgan Chase, Citibank, HSBC, ICICI Bank. Royal Bank of Scotland, and Standard Chartered also threw in their hats. Others included IT majors Infosys, Wipro and HCL and consulting firms like McKinsey & Co, Deloitte and EY India.
The average stipend for summer placements have also gone up across institutes. Summer placements are for a duration of a few weeks during the management course where students intern with companies.
NMIMS Mumbai saw a 20 percent increase in the average stipend for the summer placements. A total of 605 students were selected by 184 companies and were placed in a record time. The average stipend rose to Rs 1.02 lakh a month and the highest stipend was Rs 3 lakh, up by 50 percent from the highest stipend last year.
Further, about 42 percent of the batch (248 students) got PPOs/PPIs for their performance during summer internships 2016 and at various competitions.
Offers were made to the students of Flagship MBA Core Program by recruiters such as Abbott, Britannia, Capgemini, General Electric, Google, Hero Motocorp, HUL, HT Media, Marico, PwC, RIL, UB Group, Vodafone, among others.
Dr Debashis Sanyal, Vice Provost, Management Education & Dean (SBM) said that they have completed summer placements with a greater faith from our loyal recruiters. He added that some of the leading names in BFSI, FMCG and consulting have picked the highest numbers of interns from NMIMS Mumbai.
The old IIMs including IIM Ahmedabad, IIM Calcutta and IIM Bangalore will be completed in the next few days. The coveted Day Zero slot usually has large BFSI and consulting firms taking part in it.