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IIMs breathe easy as offers pour in
By siliconindia
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Thursday, 13 November 2008, 23:47 IST |
2 Comments
Kolkata: Overcoming the heat of global economic slowdown which forces many companies to tighten their campus hiring plans, India's major IIMs, IIM Calcutta, Kozhikkode and Lucknow have managed to get good number of offers during this summer placement period as a result of the strategy of inviting more companies on campus, reported The Economic Times.
Unlike the concerns previously arose, investment banking (IB) and banking and financial services (BFS) sectors were able to made enough offers. Almost all regular recruiters in the IB sector have turned up across IIMs, in part to maintain their relationships with elite institutes. When big companies reduce their hiring plans, IIMs have decided to invite more companies to the campuses. This strategy is now turns to be effective.
IIM Kozhikode (IIMK) is one among who successfully implemented the new strategy. "Contrary to general expectations of a drastic reduction in the number of offers in the financial domain, students at IIM-K received more offers in the investment banking, private equity, treasury, corporate banking space compared with last year," said IIMK placement co-ordinator Revant Bhate .
IIMK got 23 offers from nine IB this year, compared with 16 offers from six IB last year. Apart from that the institute has also got 72 offers from 23 BFS companies as against 51 offers from 18 BFS last year. IDG Ventures, Tata Capital, Deutsche Bank are some of the new companies in IB space who made offers and those in BFS included Citigroup, Futures First and Emergent Ventures.
Sushil Kumar, IIM Lucknow's placement cell in-charge didn't unveil the placement developments of the institute. "It is a policy decision that no information about the placements goes out till the process is over," he mentioned.
However he pointed out that things were on track, including in the banking space."The earlier concerns were much worse than what the reality is turning out to be," he said.
