B-school hiring falls 25-30 percent

Bangalore: It is bad time for young graduates who are scouting to get placed in MNCs before they leave their college. The major financial companies are reducing their hiring number to beat the economic slowdown and uncertainty in the operation. While the prominent institutes like Indian Institutes of Management (IIMs), are expected to continue getting offers as usual, other B-schools are believed to have 25-30 percent drop in placements this academic year.

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According to a study conducted by SP Jain Institute of Management and Research (SPJIMR), although 60 percent of the companies have committed to recruiting the regular numbers, 30 percent said they are not sure if they would recruit in regular numbers and eight percent said they would freeze recruitment for the time being.
As measures to recover the problem, most of the B-schools are planning to expand its company base. They are now approaching new companies like smaller private equity players and wealth management firms.

Prof. Subir Verma, chairperson, placements, Management Development Institute, Gurgaon, said that the number of offers on B-school campuses by the financial sector could come down with some companies even opting out of placements this year.

However, small companies who once found it difficult in getting talents from good B-schools due to their small salary scale now may able to achieve young graduates by offering the same package.

T N Radhakrishna, HR Head, UTI MF said that it helps us in the sales and marketing scenario. It's a win-win situation for the company as well as the students because they will find growth and we will get the best of talent from second rung B-schools. "Given the ambition and expectations, one cannot afford an IIM or an FMS student," he added.