B-schools’ summer placement figures indicate that the economic slowdown has not yet cast a shadow on their campuses. It is not only the premier Indian Institutes of Management (IIMs) but also most other B-schools that have maintained last year’s figures. In some cases, they have even registered a rise of over 25 per cent in top and average stipends.
For instance, at the Delhi-based Indian Institute of Foreign Trade (IIFT), the highest offer so far has been made for a stipend of Rs 1,00,000 against Rs 80,000 last year. The institute has also seen a 52 per cent increase in its average salary figures — from Rs 25,000 last year to Rs 38,000 this year.
The Ghaziabad-based Institute of Management Technology (IMT), too, recorded a 33 per cent jump in its stipend level this year at Rs 80,000, against Rs 60,000 last year. The institute has 10 international placements so far and has placed around 80 per cent of its students.
“We have had good response for summer placements and our policy of reaching out to companies from various sectors is paying off well,” said Professor Sanjeev Parashar, chairman (placements), at IMT Ghaziabad.
At the Faculty of Management Studies (FMS), six students received the highest domestic package of Rs 50,000 a month and three received the highest international package of $1,500 a month (around Rs 1,40,000 for two months).
The institute saw 100 per cent placements for the summer internship this year, with 40 new companies on the campus. Last year, Coca Cola and Microsoft had offered the highest domestic stipend of Rs 50,000.
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“The summer placements went as anticipated but there was a change in the focus of the companies. We had more marketing and FMCG companies than before. Also, many consultants came this year,” said Professor Madhu Vij, corporate relations and placement advisor, FMS.
Mumbai-based Jamnalal Bajaj Institute of Management Studies recorded its highest domestic stipend of Rs 1,00,000, the same as last year. Companies that participated in the summer placements include major FMCG companies like Hindustan Unilever, Procter & Gamble and PepsiCo, which recruited students for marketing, corporate finance and treasury.
| NO SLOWDOWN HERE (Domestic summer placement offers) | |||
| Institute | Stipend (’08) INR | Stipend (’09) INR | % rise |
| IIFT | 80,000 | 100,000 | 25 |
| IMT-Ghaziabad | 60,000 | 80,000 | 33 |
| FMS, Delhi | 100,000 | 100,000 | No change |
No change
No change
Among the IIMs, IIM Kozhikode (IIM-K) touched a high of Rs 291,000 ($ 6000 for two months) offered by Vega Foods, a Singapore-based company, for international offers. IIM-K also recorded the highest domestic stipend of Rs 100,000 (Rs 50,000 per month) for the two-month summer internship period, which begins in April 2009. The stipend has been offered by Coca Cola. Boston Analytics made a similar offer last year. Students at the institute have also received around 14 international offers against four offers last year. The offers have been made across various functions and in locations like Singapore, Hong Kong, Germany, Dubai, South Africa and London.
Meanwhile, IIM Bangalore and IIM Calcutta completed “slot zeros” on their campuses. The two days of “slot zero” — the most coveted slot assigned to recruiters — saw 100 students of Indian Institute of Management Calcutta (IIM-C) getting placed in finance, consulting and services companies, out of a batch strength of 300. The week-long process will see about 300 first-year students of the post-graduate programme in management securing placements for summer internships. The institute expects close to 100 companies to turn up for placements this year — up from 85 last year. IIM-C invited over 500 companies across sectors so that placements do not suffer this year.
At IIM Bangalore, day one of “slot zero” saw recruiters from finance and consulting companies despite concerns that there would be a slowdown in finance offers this year. Nearly 50 Indian and 50 global conglomerates are expected to participate in the week-long process to place 280 Post Graduate Programme (PGP) students for the summer internship.