Hire calling: IIM placement season goes beyond Big Tech and Big 4

Offers from offbeat sectors lay out a bigger career canvas

Aniket (name changed on request) was worried since he was unable to land a job until the fag end of the placement season at one of the Indian Institutes of Management (IIMs). The sub-par placements the year before and the prevailing geopolitical tensions, including the uncertainty  triggered by the American President, added to his anxiety.

 

“The placement season last year wasn’t the best,” he said. “A number of big firms weren’t recruiting, and the ones that were, were taking in fewer candidates.” The salary packages on offer, too, had shrunk. It was a period of nervousness for students like him. A job offer eventually came, but from an unlikely sector that was nowhere on his radar when he joined IIM: Energy.

 

“Most of the people who enrol in an IIM think of joining a Big Four consultancy or one of the Big Techs,” he said.

 

However, with increased focus on cleantech and sustainability, firms such as the one that gave him the offer letter are also landing at premier management schools for recruitment.

 

Many of those that came calling at the IIMs this time round were first-time recruiters, and represented sectors not traditionally seen on these campuses during placement seasons. 

 

Among them were companies focused on sustainable and green tech, luxury and collectibles, fintech and digital banking, personalised health care and biohacking, electric vehicles, alternative food industry, metaverse and virtual reality, and spiritual and wellness tech. The names included DBS Bank, Welspun, Nykaa, Clear, Lava International, Juspay, Modelama Exports, Waaree Group, and Policybazaar.

 

The IIMs attribute this shift to the changing focus of companies.

 

“Companies need specialised professionals who can spearhead innovation and handle fast-paced industry growth,” said Professor Abhishek Kumar Totawar, Chairperson - Placements, IIM Tiruchirappalli. “These industries need professionals with excellent analytical skills, strategic minds, and the capacity to keep pace with changing markets, and IIM graduates fit the bill perfectly.” The industry, he added, is today looking for individuals who can drive digital transformation, shape consumer behaviour, and create innovative solutions.

 

Spirit in the letter

 

Hiring trends across sectors like the ones mentioned above have observed a considerable surge compared to previous years, Totawar said. 

 

“Industries such as sustainable tech and green energy have witnessed a 15-20 per cent boost in hiring, spurred by the increasing emphasis on environmental objectives,” he said. 

 

The non-fungible token (NFT) and luxury reselling sector has grown by 30-40 per cent, whereas fintech and digital banking companies have increased recruitment by 25-30 per cent, Totawar said, adding, “Hiring by biohacking and personalised health care industries has also expanded by 20-25 per cent, with businesses investing heavily in R&D and scalable products.”

 

At IIM Mumbai, the pharma and health care sector recorded a 130 per cent increase in offers, while the retail and ecommerce segment saw offers rising nearly 50 per cent. The change, the institute said, was because of increasing demand for health care innovation, and a boom in online shopping and digital-first business models.

 

Ecommerce and quick-commerce companies stood out in the final placements for IIM Mumbai. Blinkit made 14 offers with packages of ₹30 lakh; Meesho made seven, with packages of ₹49 lakh; Zepto, six (₹33.5 lakh); and Delhivery, six (₹24 lakh).

 

“This year, apart from our regular recruiters, we have seen exciting opportunities open up in offbeat sectors,” said Neeraj Pandey, chairperson, placement and branding, IIM Mumbai. Companies like Eaton, Ecom Express, GMM Pfaudler, GroupM, MakeMyTrip, Nippon India Mutual Fund and Praxis Global Alliance have joined the recruitment pool, bringing in diverse roles across consulting, fintech, e-commerce, media and supply chain, he added.

 

IIM Indore, meanwhile, had firms like Accuracy Consulting, Eli Lilly, IQVIA, and Vivo participating for the first time. 

 

“This year, IIM Indore witnessed increased participation from several offbeat sectors, including energy, health care, and electronics. Niche sectors such as EV and energy have displayed strong hiring momentum, reflecting broader industry trends,” said Himanshu Rai, director, IIM Indore. He, too, felt the trend could be attributed to industry growth, market expansion, and the need for skilled managerial talent. 

 

“Energy and health care companies are seeking candidates proficient in strategy, finance, and operations,” he said. “Compared to last year, there has been a noticeable uptick in hiring for these sectors, with several first-time recruiters joining the placement process.”

 

Matching salaries

 

What’s heartening for both the students and the institutes is that the salary packages these firms are offering are at par with some of the established companies. 

 

The average cost to company (CTC) offered at IIM Lucknow stood at ₹31 lakh, aligning with the overall compensation trends observed during placements. 

 

“Recruiters are increasingly valuing cross-functional expertise and practical exposure, with first-time recruiters from diverse sectors showing confidence,” said Priyanka Sharma, placement chairperson at IIM Lucknow. Growth in niche roles, such as artificial intelligence (AI)-driven strategy and digital transformation, has triggered this shift, she added.  

 

Totawar echoed the sentiment. “AI-focused companies saw a 20 per cent rise in hiring. This shows that analytics remains a focus in data-driven roles.” 

 

Opportunities are emerging beyond traditional finance and consulting, particularly in areas such as risk advisory, financial analytics, and sustainable consulting, as well as in tech-driven and media industries, he added.

 

At IIM Sirmaur, meanwhile, 15 per cent companies introduced differential salaries for students based on pre-MBA experience, said Karthikeyan Balakumar, chairperson, placements at the institute. 

 

“The new companies are paying similar to peer groups or may be marginally lower, but such companies have committed to the first appraisal or increment in six months of joining,” Balakumar said. “Some incubated startups have also come to hire this year, offering packages comparable to leading regular recruiters (not including offered Esops),” he added.

 

Emerging trends such as these have made things easier for students like Aniket. “My father is an IIM graduate; I have grown up hearing about the Big 4 and the prospects they hold,” he said. “But now I can easily say the world beyond these firms is equally impressive.”

 

For those who will walk into the IIMs in the years to come, the career canvas is getting bigger. 

Campus notes

 

> IIM Tiruchirappalli saw 15-20% rise in hiring in sustainability and green tech; 30-40% in NFT and luxury reselling; and 20-25% in biohacking and personalised health care

> IIM Lucknow noted an increase in recruitment for niche jobs like 

AI-driven strategy and digital transformation

> IIM Mumbai saw 130% increase in hiring in pharma and health care, while retail and ecommerce saw a 47.73% rise

> IIM Bangalore saw 30% first-time recruiters

> IIM Sirmaur prioritised pre-Series A startups and select SMEs for summer internships

> At IIM Indore, sectors such as EV and energy have displayed strong hiring momentum