Elite B-school students back in radar of finance cos
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Last Updated: Thursday, November 12, 2009, 19:40
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 internships.

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 Partnerships, said.

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 respectively.

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 time.

"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 summer placements.

"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 Barclay's Capital.

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.

Bureau Report

First Published: Thursday, November 12, 2009, 19:40

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