IIMs Records Significant Jump In Summer Placements

IIM grads seem to be back in demand as the slot zero–or the most coveted slot offered to recruiters for summer placement–has seen a significant increase in the number of companies coming to the institute over last year. “This year offers for the slot zero will be significantly higher than previous year of 100 offers,” IIMC external relations secretary Paul Salvo said, Initially, there were some concerns among the students as the batch size is 104 more than the previous year and the economy is still recovering, but, the increase in number of companies and job offers has given them reasons to cheer.
Summer placement gives a clear indication of demand of professionals but it does not give idea about the salary hike over 2008. “Students in summer placement are given internship and perks.
It will be when companies make final offer, salary levels could be compared. But, we hope it would be better than previous year,” Salvo said.
There were offers from investment bankers like as Barclays Capital,Bank of America Merrill Lynch, the Royal Bank of Scotland, and UBS. Morgan Stanley, JP Morgan Chase, Credit and HSBC also had offers for IIMC..
The summer placements at IIM-A saw all its students of the 2009-11 batch getting placed within four days, bringing the cheer back on the campus after the gloom of the last season.
“This would have seemed impossible a couple of months back in the midst of the global financial meltdown. While we expected the pendulum to swing, we did not expect it to swing back so fast, or so far,” Placement Committee Chairperson Professor Saral Mukherjee said.
“We had not expected such a drastic upturn in the demand for quality talent and hence the summer placements have come as a pleasant surprise to us,” Mukherjee said.
“However, this may not necessarily translate into increased final placement hiring as often summer placements serve a different need of the recruiter,” cautious Mukherjee said.
Summer placement at the IIM-A are for internship of students with private firms as part of their curriculum. Last year, due to the global meltdown, the final placement of IIM-A was extended over a period of nine days and it had become difficult for the institute’s placement committee to find jobs for all the students.