IIM News Network
Collegekhabar.com
December 23th, 2009
The pre-placement offers (PPOs) for final year management graduates of Indian Institutes of Management (IIMs) have jumped from last year’s average of Rs 8-12 lakh per annum to Rs 18-30 lakh per annum as more multinational firms seek to hire new talents as they see a revival in their businesses.
“Students who already have many years of experience have got PPO packages of Rs 30-40 lakh per annum. We expect people with more work experience to get Rs 50 lakh per annum during the final placements,” said one of the IIM officials. IIM students, who spoke with ET on conditions of anonymity, said the number of PPOs for the 2008-2010 batch have already reached 50-60 in most IIMs except IIM-Shillong, which has 63 students. But IIMs expect PPOs to double at the time of the final placement in March 2010.
“This year, investment banks seem to be keen on final placements too. We are clearly seeing an uptick in the market, but at the same time this is just cautious optimism,” said an IIM-Ahmedabad official. “We are not taking it easy and are reaching out to more MNCs than before,” he said.
Global consulting firms McKinsey, Bain, BCG, Deloitte and AT Kearney, apart from technology companies such as Huawei, Intel, Dell, Pfizer, HP and Google, have also shown interest in participating during the final placements next year.
India’s premier business schools now expect a good part of their campus placements from companies such as P&G, Diageo, HUL, City Bank, Deutsche Bank, Standard Chartered, Barclay’s, Goldman Sachs, JP Morgan, Bank ofAmerica - Merrill Lynch, HSBC, the Royal Bank of Scotland and public sector banks. Sources said such companies have already started pouring in lucrative PPOs or are in talks with the IIMs to hire.
IIM Bangalore second-year student Vineet Sharma, a marine engineer, said he is seeking the role in general management and may join his own business venture called Oilfield Warehouse and Services (OWS), as his organisation is planning for an international expansion in Middle East and Africa and Singapore. An IIM Lucknow second-year student said he is interested in sales and marketing in the pharma industry.
Chirantan Shah, a placement committee representative at IIM Kozhikode said a lot of students are also showing interest to join start-ups as they know it is a great learning process to get hold on to multiple roles such as equity, marketing and sales.
Hariharan Sriram, the external relations secretary at IIM Calcutta, said students are now keen to tap domestic opportunities as well as work in countries in South East Asia which have better economic outlook.
Source: Economictimes.com
Tags: IIM Placements, IIM Ahemdabad Placement 2009, B School Placements 2009, Management Trainee, Placements 2009
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