All the 6 new IIMs namely IIM Kashipur, IIM Raipur, IIM Ranchi, IIM Rohtak, IIM Trichy and IIM Udaipur have completed their campus placements 2016 making yet another landmark by grabbing higher packages.
The Corporate and Industrial sector recruiters who were facing slow down appear to have come out of the situation and now are eyeing on newer IIMs by making more recruitment offers and showering the students with higher placement packages as compared to past years. The placement 2016 shows a consistent growth in highest and average domestic salary packages as well as in the international job offers.
With economic slowdown over, ‘Make in India’ and ‘Start-up India’ infusing new energy in the industrial and corporate sector, the placement season this year in almost all the B-schools has shot to new heights and there are number of recruiters who are not looking for only IIM A, B, C graduates but the graduates from newer IIMs and other MBAs who have acquired good learning and can use their skills in the business market are their preferred catch.
The past placements records statistics of new IIMs:
IIM Kashipur: INR 53.75 lakhs package
IIM Raipur: International placement Rs.30 lakhs
IIM Ranchi: International package at INR 55 lakhs
IIM Rohtak: Highest salary up at INR 18.30 lakhs
IIM Tiruchippalli: Highest CTC INR 23.81 lakhs
IIM Udaipur: Highest CTC INR 21.50 lakhs
But what about the placement in 2017? How is it going on?
In the latest article of Business Standard, seems like new IIMs fail to attract the industries or placement started with slow pace.
Newer Indian Institutes of Management (IIMs) are experiencing a cold placement season this year. These IIMs had started placements earlier but several recruiters are withdrawing offers.
Too much excited with the last year placement seems like IIMs started placement much earlier than it should be or it was the affect of demonetization and pace of present market.
Business standard mentioned in their article “Economic factors such as demonetisation, rising automation and US visa issues are among the reasons recruiters across sectors such as information technology, fast-moving consumer goods and banking, financial services and insurance have gone slow on recruitments, say newer IIMs.”
IIM-Udaipur, for instance, has a batch of 144 students participating in final placements, which began on November 30, 2016. But it is yet to place 20 students.
IIM-Trichy has seen a dip in the number of offers per recruiter for several reasons. The institute began its placement process in the last week of December but a cyclone in Chennai had played spoilsport. Several companies had to cancel campus interviews and these have not been rescheduled.
Chairperson-Placements and External Relations at IIM Trichy Abhishek Totawar said: “Several macroeconomic factors are coming to play in the final placements, including demonetisation, automation and H-1B visa issues. The whole placement process has slowed a bit. We haven’t been able to reach the numbers we had planned.”
In certain cases, he said, regular recruiters who had recruited three to four students last year have reduced their intake to one or two. “Some dip in the number of offers per recruiter has happened.”
IIM-Udaipur had placed 110 students last year. About 45 firms have visited the institute this year, against 39 last year.
The older IIMs, it might seem, would experience a relatively smoother placement season. While most older IIMs have not started their process, IIM-Lucknow (pictured) wrapped up placements within the first three days. The 435 students in its 31st batch were placed in 170 domestic and international recruiters, including McKinsey & Company and Boston Consulting.
The concern of employment in India always be the priority topic that none of the government able to solve optimistically. Demonetization might be the right thing to do but it completely required the industry to focus on the level of quality. If older IIMs still doing good in the placement it is just because of their alumni in various running industries.
Here, lobbying is playing a role for the older IIMs, whereas the present year is certainly the year started with slow pace at economic, employment, housing area.
