Global meltdown dampens IIM-I placements
By siliconindia   |   Saturday, 25 October 2008, 00:09 IST   |    5 Comments
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Global meltdown dampens IIM-I placements
Mumbai: After Indian Institutes of Technology (IITs), it's Indian Institutes of Management (IIMs) who are being pricked by the slowdown and one among them is IIM-Indore (IIM-I). The students of this elite organization, who was the first business school to organize for summer placements, have failed to secure internships during the placements. Even those who scraped through the placement and bagged the internships, were not offered any lucrative packages. Infact, the highest package offered for international internship is a 1.15 lakh internship with Vega Foods for two-month. According to Economic Times, the highest package for the domestic internship is 50, 000 for a two-month internship with Coca Cola. Commenting on this regression in the placement scenario, Anindya Biswas, Secretary of Media and Public Relations Committee of IIM Indore said, "Given the current scenario, it would be expected that placements, especially summer placements, would be affected. The situation, in a way, has helped open up new avenues and areas of interest. Participants have shown a keen interest in niche sectors that did not get as much importance previously." During the placement the institute saw the participation of only two investment banks JP Morgan Chase and Edelweiss while the others mostly comprised of FMCG companies, such as Procter and Gamble, HUL and Marico and a couple of private fund management firms and Sony Entertainment Television (SET)

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