The Indian Institute of Management-Bangalore (IIM-B) has achieved a 100 per cent placement for students of its flagship management programme. IIM-B said it completed the placement process in nine days, placing its entire batch of 249 students. A total of 64 students were placed in ‘slot zero’. Though the institute did not divulge any details about the salary figures, it did agree that average salary levels have dropped.
Given the downturn in the economy, the institute may not increase the fee for its flagship management programme this year, said IIM-B Director Pankaj Chandra.
IIM-B had last year announced that it would raise its fee from Rs 2.5 lakh to Rs 4 lakh for the first year, and Rs 5 lakh for the second year of its Postgraduate Diploma Programme for 2008-10. Chandra was talking to reporters on the sidelines of a press conference held to announce results of final placements of IIM-B.
Meanwhile, around 97 companies participated in the placements this year against 66 last year. Major recruiters on the campus included Boston Consulting Group and Jaypee Capital, which made 10 offers each. While IBM Consulting and Finance offered jobs to seven students, Bosch and Cognizant Consulting recruited six students each. Other companies who visited the campus include McKinsey & Co, Bain & Co, Arthur D Little, Deloitte, Accenture, Diamond and Booz & Co.
Private equity firms such as ChrysCapital and Baring Private Equity also recruited from IIM-B. Some of the major banks that recruited this year were Standard Chartered, American Express, Citigroup, HSBC, etc. A few start ups who came and recruited were Enzen, HT Media, TVS Capital and Loreal.
Overall, 25 per cent of the batch accepted a position in a consulting firms. The other sectors that have seen significant number of positions being offered include finance (29 per cent), marketing (16 per cent), and general management (16 per cent). While public sector undertakings picked up students in good number, new sectors like clean energy and education also visited the campus to recruit students. First-time recruiters on the campus include Indian Oil Corporation, Gail, Bharat Petroleum Corporation, Bosch, Jaypee Capital and Small Industries Development Bank of India. Seven students opted out of placements to take up entrepreneurship.
The institute said owing to the present financial meltdown, it has postponed its plans of building a mega teaching conference room for 300 people.
The institute has also lowered its revenue target of 30 per cent from its executive MBA programme, Chandra told reporters.
