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| IIM-C offers dip 10-20% |
| Pradipta Mukherjee / Kolkata Mar 10, 2009, 00:03 IST |
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However, 4 students get Rs 1 crore-plus offers.
IIM Calcutta, (IIM-C) — which stretched its annual placement process this year till March 7, and divided it into two phases to ensure that students got more offers — is understood to have recorded a 10-20 per cent drop in the number of offers. However, more than four students out of a batch of 256 students, according to sources close to the development, got salary offers that crossed the Rs 1 crore figure. The institute will hold a press conference today to announce details of the placements procedure.
The external relations secretaries at IIM-C declined to comment, saying that all final placement figures had not been collected as yet. However, according to sources, Barclays’ London trading desk had made three pre-placement offers (PPOs) in excess of Rs 1 crore, and sources claimed that all PPOs have been accepted by the students concerned.
IIM-C’s final placements last year had seen the highest offer at Rs 1.36 crore, from a leading international investment bank. It turned out to be the highest in the institute’s placement history. Incidentally, IIM-C wrapped up slot one of its final placements last week.
“The regular recruiters at IIM-C are offering last year’s salaries or maybe a small hike. But a large number of new companies have visited campus this year who did not make too many offers or a huge salary hike,” sources added.
However, compared to last year, salaries have decreased this year, barely retaining last year’s 18 per cent hike. Compared to the 90 PPOs last year, there were 56 PPOs this year at IIM-C.
Again, a total of 49 companies visited IIM-C in the four days of Phase 1 while 25 companies came for recruitment during the lateral process. Last year, IIM-C had a total of 107 companies visiting the campus for hiring during the complete placement process.
Another trend this year at IIM-C is students’ faith in PSUs. Around 36 students out of 265 opted for jobs with the less-paying but more secure PSUs.
This is in contrast to the trend of the past few years, when most students opted for offers from Wall Street investment manks, FMCG companies, private sector units or consultancy firms.
Incidentally, 41 students at IIM Ahmedabad have also opted for PSU jobs this year.
A noticeable change this year, compared to last year, is the number of offers made, or accepted, per company. Many international firms, affected by the downturn, had reduced the number of offers, while in quite a few instances, students rejected lucrative international offers to opt for more secure jobs in other firms in the same sector. The expectations this time were not high, after witnessing the placements in other leading colleges across the country. But in spite of all this, the results till now have exceeded expectations.
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