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Old and new IIMs battle it out this placement season

Published On: 23 Feb 2012 | Last Updated On: 23 Feb 2012

With the onset of placement season, all IIMs are now competing with each other to attract majority of recruiters to their campuses. In this race the younger ones are not even sparing their mentors, the older IIMs. Following the footsteps of the older IIMs, the new IIMs are now putting all efforts to attract the regular recruiters of older IIMs for placements.

Sources from the placement cell of one of the new IIMs revealed that the older IIMs are big brand names for the companies so to compete with them the younger ones have to act strategically. This new IIM has been successful in convincing 3 companies to recruit students only from their campus.

The batch size of younger IIMs is much smaller as compared to that of older ones. Thus, companies not hiring in bulk will not affect these IIMs much. If a company has to hire 15 students then the newer IIMs are convincing them to hire atleast 5 students from the new IIMs.

With the addition of 6 new IIMs in Rohtak, Ranchi, Trichy, Raipur, Udaipur and Kashipur, the total number of IIMs have gone upto 13. Apart from the older IIMs, IIM- Rohtak, Ranchi and Raipur are among the new ones holding final placements currently.

The new IIMs are now claiming that even though they do not have a database of companies like older IIMS, they will place their students on their own without seeking any help from MHRD.

No IIMs will disclose their placement details except the 3 big ones; IIM-ABC (Ahmedabad, Bangalore and Calcutta), which share their placement details on a large scale.

Sources from the placement committee revealed that to take the advantage of first movers, new IIMs schedule their placement dates close to that of older ones to enable them to attract same recruiters visiting the old IIMs.

The younger IIMs are also offering a deal to the recruiters where if a particular IIM is giving them 3 slots on a day then newer IIMs are offering them zero day slots.

However, older IIMs are not worried by the fact that their young counterparts are eating out their set of regular recruiters. Sources form placement cell of IIM-B claimed that with growth of the economy the number of jobs will also grow to employ students from the new campuses. The other older IIMs also seemed unperturbed with the doings of new IIMs.

In order to attract large number of recruiters, the new IIMs are hosting HR conclaves, colloquiums and live projects to build up corporate relationships.

However, attracting top consulting companies may not be a cakewalk for the younger IIMs as their policy says not to hire students from a B-school which is only 4 to 5 years old. Moreover, the younger IIMs will still take time to reach the salary figures of crore plus.

Source: Business Standard

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