PLACEMENT SEASON
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Latest casualty of recession: IIM placements
Published on Fri, Mar 06, 2009 at 04:13, Updated on Fri, Mar 06, 2009 at 09:54 in Business section
Tags: IIM, Placements , New Delhi
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New Delhi: The latest casualty of the global economic gloom are IIM students who are struggling to get placements.
The IIM-Bangalore has extended its campus recruitment process till every student is placed. Placements had begun on February 27. Last year the process was over in two-and-a-half days.
IIM Ahmedabad however says the number of offers were adequate for the students, though there was a reduction in the participation of foreign companies. Out of 109 firms which came, most were domestic companies.
In tough times, however, IIM-A alumni are pitching in with help to keep the show going.
“I think it is the economic slowdown which has created this problem that the compensation package has come down,” says Sameer Barua from IIM A.
“This is a much longer process than earlier which just reflects the current market condition. Many of the regular recruiter has refused to participate because they are undergoing recruitment freeze,” says Sourav Mukherjee of IIMB.
Off record, IIMs say that they are advising graduates to take government jobs, which are seen to be secure. some nationalized banks have offered to create special posts for IIM students.
The faculty is also advising students to go for job security rather than chase fat pay packets and that's a reality which IIM grads will have to learn to deal with quickly.
The institute has a huge active alumni network with more than 32,000 members and a large number of them are actively associated with the institute through various programmes.
The flagship PGP programme alone has 8,000 alumni and a large chunk holds senior-level positions in both domestic and multinational firms.
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Dear Sir
Extremely painful for these aspirants
Thanks
Regards
Shyamal Bhattacharjee
bangalore
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