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Indian B-schools are feeling the heat of the global slowdown. Several B-schools, including the premier Indian Institutes of Management (IIMs), are yet to complete their placement processes. While most B-schools usually release their recruitment reports by February end, things are different this year and some institutes yet to announce how their students fared in the placement season. To ensure all students are placed, some B-schools are not allowing those with job offers to sit for interviews. IIM-Kozhikode, which had concluded its placement process by March 3rd last year, will take at least a week to do so this year.
The market is a bit slow this year, said G Sridhar, the institute’s chairperson for placements. This year, we have not allowed students to sit for interviews if they already have an offer. In addition to the slump, IIM-Indore is battling another problem: The size of its batch has gone up from 240 last year to 450 this year. Bhaskar Chaudhary, secretary of the student placement committee at IIM-Indore, said, Last year, we were done with our placements by mid of February. We are done with three phases and there is one more to go. The job market is not as buoyant as it was last year. Though IIM-Ahmedabad has completed placements for four clusters of students, there are a few who are yet to bag a job. A release on the institute’s website states that the placement process will now proceed on rolling basis, wherein firms will be invited based on student preferences.Those with an offer can also apply. Amith J.M., a member of IIM-As placement cell, said “the slowdown has not affected its placements, but refused to divulge details about the number of students who have landed a job. The total number of students passing out of IIM-A this year is 373”. IIM-Bangalore said it would comment on trends after its report is out this week. XLRI has completed the recruitment process. Ashish Srivastava, a member of the XLRIs placement cell, said, Last year, the average job offer made to each student was 1.3; it is down to 1.2 this year. Jobs in the finance sector have taken a hit, he said. IIM-Lucknow has successfully completed its placement process. Nitin K.V., IIMLs recruitment coordinator, said, “We had fewer offers this year from the finance sectors. But, we tried to make up for it by getting newer entrants like the power sector and e-commerce”. Ankur Tiwari, a member of senior placements committee at IIM-Ranchi, said; it would take at least a couple of weeks to wrap up placements, even though the passing batch has only 43 students. Companies are cautious as they are not equipped to hire fresh talent. Not many FMCGs are visiting campuses this year. While domestic banks are offering jobs, their MNC counterparts are not. Abbasali Gabula, deputy director of SP Jain Institute of Management and Research, said; Institutes with small batches have completed their placements, while those with batch strengths of 400 and above are finding it difficult. We had a batch of 180 and we complete the recruitment process before February end.
Courtesy: Times of India
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