2009 Summer Placements

The summer placement season in the IIMs is almost over. In the last few weeks IIM campuses were filled with representatives from various companies in India as well as abroad signifying the recovery mode in the hiring market.

Unlike last year, which had witnessed downfall of big financial houses and had caused gloom in the banking and finance sector, this year the financial sector has taken the major share of the IIM pie. The scene is very buoyant and indicative of a very good final full-time placements for the budding managers. The surprise this year was the participation by micro-finance firms and NGOs.

We bring you here the update on the overall summer placements at the IIMs.

IIM Ahmedabad
IIM Ahmedabad completed the process of summer placements for the 2009-11 batches of Post Graduate Program (PGP) and Agri Business Management (ABM) programs on November 5. The summer placement process started on November 2, and within four days, the MBA school completed 100 per cent placements.

According to a spokesperson of IIM Ahmedabad, among the total 315 students of the 2009-11 batch, 150 of them were placed on November 3 only. The rest got their opportunities by the next two days.

While the MBA school found it difficult to provide the students with the internships at this time of the year in 2008 — immediately after the global collapse — this year, the largest-ever batch with 312 students were placed in four days.

Investment banks hired 77 students on the first day itself — in 2008, the figure was 35. Top-notch firms like Bain, Morgan Stanley, McKinsey and Company, Goldman Sachs and Microsoft are among those who offered the internships. Royal Bank of Scotland came exclusively for international roles across Hong Kong and London. For the first time, US-based Walt Disney hired from IIM-A. Some of the other companies which came for placements in the campus of the top MBA school were Hindustan Unilever, Proctor & Gamble, Aditya Birla Group, Nokia.

IIM Calcutta
IIM Calcutta conducted its summer placements for the batch of 2009-11 from November 4, 2009 to November 9, 2009. The six-day process at the MBA school ended up placing all 407 students, making it the most intensive placement process in India. An aggregate of 140 companies showed interest in hiring from this MBA school, up from last year’s 110.

This time with the new Ministry of HRD stipulations, IIM Calcutta had a larger intake than any other IIM. This gave rise to a batch which was bigger than any other seen in any IIM’s history – 407 students which was a 33% increase from last year.

Keeping the large batch size in consideration, IIM Calcutta declared that the placement process will remain open as long as students are without offers. There was no placement window announced this time at this MBA school. IIM-C follows a one-offer policy in its summer placements: students are not required to apply for firms they aren’t interested in, and they are out of the process once they accept an offer. The process, which lasted six days, consisted of three slots, each of two days.

Signaling the end of the bad times, finance dominated the scenario with 43% of the students taking up jobs in banks. This included 80 offers in investment banks and private equity firms, as compared to last year’s 58. The Slot Zero consulting firms made 20 offers, up from 16 in 2008.

Marketing firms recruited 50% more than last time, gathering up more than a quarter of the students in the process. Leading marketing companies like HUL made more offers this year than any other year in recent times.

IIM Bangalore
Employers’ response to the 2010 summer internship placements at IIM-B surpassed the expectations of the business school. The institute created a record when 180 students from a batch of 348 were placed in Slot Zero (the first two days) itself. It's quite a jump from last year's 121 of 270 students. On these days, investment banking firms were the highest recruiters with 37%, followed by consulting (20%), finance (18%), general management (8%), sales & marketing and private equity at 6% each and others 5%.

Interestingly, Goldman Sachs doubled its offers by almost 100%, making 13 offers. Other well-known recruiters are Merrill Lynch (4), Morgan Stanley (4) and JP Morgan (3). First-timers like Nomura bagged 6.

This year there were more recruiters from the FMCG sector too. These include Samsonite, St Gobain, Wipro Consumer, Heinz among others. From the public sector, five offers came from Bharat Petroleum and SEBI.

19% (64 students including 15 women) have been placed abroad, mostly in Asia. This number is the highest among all IIMs this year.

IIM Lucknow
Summer placements at IIM Lucknow had begun in the last week of October 2009. The placement process so far has seen a distinct revival in the financial sector, with several major banks and financial firms hiring in good numbers.

Slot zero at this MBA school saw the participation of prestigious consulting firms including McKinsey, Boston Consulting Group, investment banks including Deutsche Bank International (GMC), BNP Paribas, and private equity firms including Baring Private Equity Partners.

Major FMCG firms including Procter and Gamble, Hindustan Unilever, Diageo, Coca Cola, Nokia, Cadbury and several others have already participated in the summer placements process so far. The year marked the entry of several firms such as Singapore Telecom, Puma and Bharti Airtel, who participated in the process for the first time.

Among the emerging sectors, companies from renewable energy, health and education showed interest in hiring from the campus. Several students accepted offers from a range of start-up companies as well.

The first phase of the summers process has seen a 25 percent increase in number of offers as compared to last year. The process shall now continue after the mid-term exams, which form an important part of the academic calendar.

IIM Kozhikode
IIM-K wrapped up 100 per cent summer placements for its 2009-11 batch in eight days with 120 firms making offers to the 309-strong batch. Global biggies such as Arthur D Little, KPMG, Hewitt, JP Morgan Chase, Citigroup, HSBC, Standard Chartered Bank, Deutsche Bank, HUL, Pepsico and Colgate Palmolive participated in the placements. The highest stipend offered this year was over Rs. 100,000 inclusive of perks and allowances. As many as 40 firms which include Biocon, Astra Zeneca, Singapore-based Tolaram group and Dubai-based Gargash Insurance recruited summer interns at IIM-K for the first time.

IIM Indore
At IIM Indore too, summer placements are underway and the institute will reveal details only after the completion of the process.

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