The IIM-A (Indian Institute of Management-Ahmedabad) has wrapped up its summer placement process in a record time this year. Other IIMs too witnessed record summer placements and a hike of 20% in stipends amidst economic gloom.
IIM-A had proposed to complete the placements by November 19, 2012, however, it managed to conclude it on November 16, 2012 itself as companies recruited in big numbers than anticipated. Over 130 recruiters including PricewaterhouseCoopers, World Bank, KPMG, Zovi, Cleartrip, L'oreal and Wipro consumer care visited the campus. The summer placement process for IIM-A concluded in the third cluster despite of weak job market which is a good indicator.
The institute shifted from day-zero system and spot-offer system to the cohort-system in 2010 which is more student friendly. Under this pattern, recruiters offering similar profiles visit the campus in groups rather than visiting randomly on any day whereas, spot offer implies that once a student receives an offer, he/she will have to opt out of the process. Many students preferred to opt for various roles offered by the startups this year.
IIM-Lucknow for the first time turned away30-40 firms as all the students were already placed in five and half days. The institute received 500 internship offers from about 220 recruiters.
IIM-Calcutta successfully recruited 466 students in just 4 days as against 5 days in 2011 while IIM-K was able to place its entire batch of 366 students within a record time of 25 days against the 308 students in 43 days of last year. IIM-B too hit a new record with students receiving 265 internship offers in 2 days.
Source: Times of India
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