Elite B-school students back in radar of finance cos
After a year long slump due to global meltdown, first year students of elite B-schools are back in the radar of companies in finance and banking sectors which are now hiring them for summer internship programmes.
New Delhi: After a year long slump due to
global meltdown, first year students of elite B-schools are
back in the radar of companies in finance and banking sectors
which are now hiring them for summer internship programmes.
Four IIMs have managed to achieve a 100 per cent
placement for their students with finance sector once again
becoming the hot choice with 44 per cent students of
IIM-Ahmedabad and IIM Calcutta and 30 per cent from
IIM-Kozikhode preferring finance companies.
IIM-A concluded its summer placements in record four
days with top-notch firms like Bain, Morgan Stanley, McKinsey
and Co, Goldman Sachs and Microsoft among those offering
Royal Bank of Scotland came exclusively for
international roles across Hong Kong and London while for the
first time, US-based Walt Disney hired from IIM-A.
"The IIM-A found it difficult to provide students with
the internships last year immediately after the down turn.
This year the largest-ever batch of 310 students was placed in
just four days while a batch of 208 students was placed in six
days last year," Ishita Solanki, Head of IIM-A`s Global
Internship programmes in marketing sector grabbed 18
per cent share with positions in sales and marketing
management, branding, business development and marketing
research. Consulting and general management were the next two
preferred domains followed by IT at 11, 18 and 9 per cent
The relatively smaller IIM Kozhikode wrapped up the
process in eight days with the highest stipend offer at Rs one
lakh. This year, 120 firms have made offers to a 309-strong
first-year batch of the institute.
Global biggies Arthur D Little, KPMG, Hewitt, HSBC, JP
Morgan Chase, Citigroup, Standard Chartered Bank, Deutsche
Bank, HUL, Pepsico and Colgate Palmolive recruited from IIM-K.
Forty firms including Biocon, Astra Zeneca.
Singapore-based Tolaram group and Dubai-based Gargash
Insurance recruited summer interns from IIM-K for the first
"The participation of new recruiters in the emerging
fields of media, sports management, hospitality and NGOs is
indicative that our students are also willing to explore new
avenues," said Keyoor Purani, Chairperson Placements of IIM-K.
The story at IIM-Calcutta is no different where Morgan
Stanley recruited exclusively for its London desk. The absence
of Lehman Brothers was no longer felt with Nomura, the firm
that took over Lehman, making five offers to the students. The
banks offered profiles in investment banking divisions, global
markets, equity research, sales and corporate banking.
The Royal Bank of Scotland made the largest number of
offers by any investment bank, by taking in 11 students. It
was closely followed by Barclays Capital and Bank of America
– Merrill Lynch (BoA-ML).
"We were very nervous at the beginning that whether we
will be able to place the highest ever batch of 407 in any
IIMs. But we were able to manage it quite well," Joseph Ike,
Recruitment Coordinator of IIM Calcutta, said.
"As many as 61 students have internship offers in
locations across the world, such as New York, London, Hong
Kong, Singapore, Dubai and South Africa," he said.
The Indian Institute of Management Bangalore bagged
180 "slot zero" (the first two days) offers for the batch of
348 students for year 2010, the highest across all IIMs for
"The entire batch of 348 students, the biggest ever
batch at IIMB, was recruited within a span of five days by
over 150 companies," Prof P D Jose, chairperson of the
placement committee said.
The major recruiters included Goldman Sachs, Citi,
HSBC, ABG, Nomura, Bain & Co, Standard Chartered, A T Kearney,
Boston Consulting Group, McKinsey & Co, Credit Suisse,
Macquarie, Merril Lynch, Morgan Stanley, J P Morgan and
At IIM Lucknow, half of the recruiters have been from
the financial sector, a 25 per cent increase compared to last
year, and the first phase of summer placements saw 150
students being selected for internships," Nitin Jacob, member
of Media Relations Committee of IIM-L said.