Global meltdown eases IT companies effort to rope in IIM grads

By siliconindia   |   Wednesday, 22 October 2008, 23:04 IST   |    2 Comments
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Bangalore: The global meltdown of the financial institutions are proving advantageous for the IT firms as India's elite class of B-schools, the Indian Institutes of Management (IIM) are fervently exploring employment opportunities in this field. Infact, the companies shall be given the Day 1 slot for recruitment, once the placement scene kicks off. One of the HR of a reputed IT firm said, "The last couple of years we have hardly recruited anybody from the senior IIMs because by the time we got to them, there were hardly any good candidates left. On day zero and one itself the cream of the crop would have been picked by i-bankers and consultants." However, with the continuous crash downs in the banking sector, the institutes are depending on the IT firms which till date have given the secondary preference to the sector. The rates of contacting the companies have also increased, for instance IIM Calcutta (IIM-C) contacting 22 firms for the upcoming placements in November as compared to 12 firms participating last year. The list of those contacted includes Google, Amazon, Infosys, Wipro, Cognizant, Tech Mahindra, TCS and IBM. Even IIM-Bangalore (IIM-B) has contacted around 15 firms while last year it was between 5 and 10. However, the management institutes deny any such reason for their new choice of employments. "The endeavor of IIM-C has always been to offer the widest possible choice to the students and help them to make an informed choice of careers," says Krishnan Sekar, External Relations Secretary, IIM-C. Moreover, the institutes also claims that the IT firms have always been welcomed in the campuses during placements. Even IIM-Bangalore (IIM-B) said that the increase in the approaches is the result of increase in the batch size. They maintained that the investment banking and consulting firms have confirmed their visit though the pay package, which usually turns to be in eight figures, may see a decline.

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