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New fears of economic slowdown have not stopped the biggies from wooing bright ones with exciting offers. Three students from Indian Institute of Management - Ahmedabad have reportedly received Rs. 1 crore-plus pre-placement offers (PPO) from some of the leading global financial institutions.
According to a Times of India report, Deutsche Bank has made this offer to two of IIM-A students for its Singapore and London offices while another student received a similar offer from another financial giant Barclays. It's reported that this offer is one of the highest PPO offers ever made on the campus. PPOs are often made by companies to students depending on their performance during the summer placement. The article also quotes some undisclosed sources from the institute's placement committee who claimed that more than 50 students out of 380 in the current second-year post-graduate programme have received PPOs. Most of the offers came from the financial sector, notably from retail and investment banking companies such as Goldman Sachs, Morgan Stanley, and Nomura. However, IIM - Ahmedabad's official blog has published a clarification regarding the news which reads, "We would like to clarify in interest of the entire community that this information is unsubstantiated. Neither the Placement Committee nor the students have released any specific details to the media regarding the PPO offers and salary details. We felt compelled to communicate this clarification because as a matter of policy we do not publish individual specific compensation details. These are confidential information and should be respected as such. The number of PPOs received by students is also data which we only share once final placements are over. Further, the Placement Committee has not received any compensation details for the mentioned PPOs from the firm(s)." Though the truth about this offer is yet to be clarified, the news of such big PPOs is refreshing amidst fears of another global meltdown.
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