Summer jobs galore for IIMB students

The summer placements at the Indian Institute of Management Bangalore (IIMB) has been completed in less than three days with 255 offers being made to a batch of 187 students. With a 100 per cent placement record, 183 offers have been accepted.

Foreign offers for summer placements doubled to 41, compared to the previous year, resulting in 22 per cent of the students doing their summer work abroad. IIMB is expecting the trend to continue through to the final placements.

According to IIMB officials, this year's batch size (187) being comparatively smaller than those of IIMA (Ahmedabad) and IIMC (Kolkata) of around 275 students each, acted as a bottleneck. While the total number of companies scheduled for summer placements was 120, the entire exercise was completed even as the 75th company got its turn to pick from the rich talent pool.

The summer placements are held every year in November and many companies treat this as the first step in arriving at their final placements. Students get stipends anywhere between Rs 6,000-75,000 per month for a placement in India. The stipend for offers abroad is much higher and in the range of Rs 1.5-2.5 lakh per month.

Wall Street investment banks made a beeline for IIMB and returned extremely satisfied with the quality of students. Key recruiter's included Goldman Sachs, Lehman Brothers New York, Lehman Brothers Asia (Tokyo and Hong Kong), HSBC London, Deutsche Bank , Barclays Capital & JP Morgan Securities London. Consulting firms like KPMG, Ernst & Young, Technofast Consulting Germany, Accenture Consulting and PricewaterCoopers were other major recruiter's.