Explained: The placement process at Indian B-schools

Artika Sharma, a final year post-graduate diploma in management (PGDM), is a bit worried. She is worried because final placements at her business school are just around the corner, but there may not be as many offers as last year. She will have to compete with 300 batchmates to get that coveted offer letter from her dream employer. But she is hoping that her additional qualifications would give her the edge.

Like Artika, more than 10,000 management students across the country will be going through similar edgy-times.

Adding to the nervousness is the placement process that can be nail-biting.

Here's a look at the final placement process that Artika and others will follow:

Step 1: Shortlisting employers

-As a standard procedure, Sharma will have to indicate three to five employers of choice.

-Employers are ranked in order of preference.

-If Sharma gets hired by the employer marked as #1, she will not get an opportunity to sit for the other placement interviews.

Step 2: Inviting companies

-As a member of the student placement committee, Sharma had already began to contact prospective employers.

-If they say yes, Sharma will ask them to share hiring numbers and skill requirements.

-If the company is a regular at the campus, the number of pre-placement offers that they wish to give is also discussed. Usually, companies hire 60-65 percent of the students completing an internship with the firm.

Step 3: Preparing for interviews

-At the final placement process, companies are divided into cohorts depending on which sector they belong to.

- Sharma  will attend multiple sessions of corporate presentations where the vision of a company is presented by the HR team.

- Sharma's responsibility is to ensure that students who chose a company as their preferred employer attend these sessions.

-It is crucial for students to get a real-life perspective from these companies as to what is expected out of them.

Step 4: Aptitude tests, soft skills training

- Sharma's preferred employer plays an equal emphasis on soft skills as well as professional qualifications.

-Her institute has set up an internal aptitude test mechanism, the results of which are shared with employers.

-Soft skills training include body language, how to dress for interviews and how to answer hypothetical questions are all part of the training process conducted before an interview.

- Sharma is lucky that her institute's alumni network conducts these sessions free of cost for the benefit of students.

Step 5: Interviews, group discussions

- Sharma's preferred employer is among the first ones to visit the campus. She keeps all the documents and aptitude test scores ready.

-While campus placements usually are swift, some companies take a longer time to process applications. The one that Sharma chose is in demand as 170 others also picked the same company.

-Based on academic qualifications and resume, Sharma will be among the 80-85 students shortlisted for the interview.

-While the first round of interviews conclude quickly Sharma will have two more rounds. A group discussion followed by another personal interview with the reporting manager and HR head.

Step 6: Selection and acceptance letter

-If Sharma is selected by the company, she will be sent an employment letter. If she accepts the offer (the job role and compensation), she will not be allowed to sit for any more interviews.

-If she is not satisfied, she has a few more chances to secure an employment.

Step 7: Joining date

-As much as it is important for Sharma to secure employment, the joining date is of equal importance.

-Most companies offer June or July as the month of joining.

-If the company has delayed the joining or nor given any date, it is a cause of concern. This either means the company is reviewing its past hiring decisions or has decided to freeze hiring.

-Seniors advise Sharma that if she doesn’t get a joining date within three months of sending the acceptance letter, she should contact the HR. If no response is received, it is understood that the company has decided to not to hire her.

- Sharma's next hope will be to secure a job through the alumni network or pursue entrepreneurial opportunities.