MUMBAI/KOLKATA: Business schools may be battling recession in a gloomy placement season but the summers that students spent in some top firms last year have resulted in a couple of them netting offers that will warm the heart of any business grad.
The Indian Institute of Management-Calcutta which wrapped up the first round of placements this week saw three students accept pre-placement offers (PPO) of over Rs 1 crore each from investment banks that were made when those institutions were still flush with funds. At the Hyderabad-based Indian School of Business too, some Rs 1-crore offers had flown in.
At IIM-C, ``Barclays Capital offered US $2,00,000 (Rs 1 crore) salary per annum to each of the three students who spent their last summer with that bank. They will go on and join the bank as associates in their London office,'' said a source in the placement committee.
Of the three, one is a girl from Delhi. The institute was tight-lipped about the offers but sources said that a fourth PPO, which crossed Rs 1 crore (converted from $) was also accepted by a student who spent some weeks at an I-bank. This bank had offered a position for its outfit in the Big Apple.
ISB dean Ajit Rangnekar too was not vocal about the Rs 1 crore offers. All he said was, ``Four, five or ten students getting more than a crore doesn't mean anything. But this is an interesting year, in the sense that companies are going to be interested in taking fresh MBAs. The PGPXs (MBA for executives) is going to be more painful.'' While placements took off in mid-December at ISB, they are still on. ISB has a batch size of 440 students.
An interim report put out by IIM-Calcutta noted, ``Though we have been lucky to receive good companies to recruit on our campus, salaries have taken a 8-10% dip across all the sectors.'' In all, 49 companies visited IIM-C in the four days of Phase 1 while 25 companies came for recruitment during the lateral process. Those who take a sabbatical from work and do an MBA sign up for lateral placements.
Companies making the highest number of Slot 0 offers (PPOs and finals) are McKinsey, The Boston Consulting Group, Frost and Sullivan, Merrill Lynch, Barclays Capital and Morgan Stanley. Firms such as Hindustan Unilever, Procter & Gamble, ITC and Nokia too were among the highly preferred companies in Slot 0.
According to the report, ``Over 45% of the students placed till now opted for finance portfolios. Consulting too took a substantial number this time, with over 25% opting for it. Over 23% of the visiting companies offered high-profile marketing roles.''
Some months ago, an IIM-C student had said, ``We might have to drown our sorrows by drinking all night after the rough placement season.'' Looks like now he will be drinking to celebrate the return of the good times.
Source:http://timesofindia.indiatimes.com/India/IIM-C-grads-get-Rs-1cr-jobs/articleshow/4198136.cms
The Indian Institute of Management-Calcutta which wrapped up the first round of placements this week saw three students accept pre-placement offers (PPO) of over Rs 1 crore each from investment banks that were made when those institutions were still flush with funds. At the Hyderabad-based Indian School of Business too, some Rs 1-crore offers had flown in.
At IIM-C, ``Barclays Capital offered US $2,00,000 (Rs 1 crore) salary per annum to each of the three students who spent their last summer with that bank. They will go on and join the bank as associates in their London office,'' said a source in the placement committee.
Of the three, one is a girl from Delhi. The institute was tight-lipped about the offers but sources said that a fourth PPO, which crossed Rs 1 crore (converted from $) was also accepted by a student who spent some weeks at an I-bank. This bank had offered a position for its outfit in the Big Apple.
ISB dean Ajit Rangnekar too was not vocal about the Rs 1 crore offers. All he said was, ``Four, five or ten students getting more than a crore doesn't mean anything. But this is an interesting year, in the sense that companies are going to be interested in taking fresh MBAs. The PGPXs (MBA for executives) is going to be more painful.'' While placements took off in mid-December at ISB, they are still on. ISB has a batch size of 440 students.
An interim report put out by IIM-Calcutta noted, ``Though we have been lucky to receive good companies to recruit on our campus, salaries have taken a 8-10% dip across all the sectors.'' In all, 49 companies visited IIM-C in the four days of Phase 1 while 25 companies came for recruitment during the lateral process. Those who take a sabbatical from work and do an MBA sign up for lateral placements.
Companies making the highest number of Slot 0 offers (PPOs and finals) are McKinsey, The Boston Consulting Group, Frost and Sullivan, Merrill Lynch, Barclays Capital and Morgan Stanley. Firms such as Hindustan Unilever, Procter & Gamble, ITC and Nokia too were among the highly preferred companies in Slot 0.
According to the report, ``Over 45% of the students placed till now opted for finance portfolios. Consulting too took a substantial number this time, with over 25% opting for it. Over 23% of the visiting companies offered high-profile marketing roles.''
Some months ago, an IIM-C student had said, ``We might have to drown our sorrows by drinking all night after the rough placement season.'' Looks like now he will be drinking to celebrate the return of the good times.
Source:http://timesofindia.indiatimes.com/India/IIM-C-grads-get-Rs-1cr-jobs/articleshow/4198136.cms
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