B-SCHOOL PLACEMENT: FINANCE, MARKETING PIP CONSULTING
Marketing and finance have pipped consulting as preferred sectors and profiles this year for summer internships at some of the top business schools, including the Indian Institutes of Management (IIMs), which have completed their summer placements.
For the past few years, consulting has been at the helm in terms of offers or seen most participation from recruiters on B-school campuses.
The new trend was seen at theIIMsinLucknow, Kozhikode and Kolkata, among other Bschools, that have seen a larger share of internship offers being made in finance, thereby outperforming consulting. However, as a role, sales & marketing was at the top at most campuses.
Wrapping up all summer placements early this year, IIM-L saw a 50 per cent increase in finance profiles, with several new roles in the domain.
“This year marked the advent of most sought-after roles of the finance domain, such as investment banking and capital markets, with Bank of America Merrill Lynch, Citi Markets and JPMorgan Chase recruiting,” said the institute, which saw 150 domestic and international recruiters making offers to 459 students.
At 25 per cent, finance pipped consulting (20 per cent) in terms of the share of total roles offered at IIM-L. Sales & marketing was the top domain at 35 per cent, followed by e-commerce at 10 per cent. About 40 firms hired for the first time from IIM-L, with over 60 per cent coming from sales & marketing, finance and e-commerce.
Firms made 188 offers at II M Calcutta, including offers from five private equity firms and seven investment banking firms. Goldman Sachs made the highest number of offers in finance, while The Boston Consulting Group was the top recruiter in consulting in terms of number of students hired at the institute.
Financial services firms picked up 20 per cent of the batch at IIM-Kozhikode (IIMK), against 10 per cent by consulting firms. About 30 per cent of the batch were placed in firms, such as Asian Paints, Colgate-Palmolive, HUL, ITC, L’Oréal and Marico in the sales and marketing domain.
Financial services companies offered roles in corporate finance, investment banking, risk advisory services, global investment research and corporate treasury. These included American Express, Axis Bank, Credit Suisse, Deutsche Bank, Goldman Sachs and JPMorgan.
Around 100 recruiters made 359 offers, with the average stipend rising 25 per cent from last year at IIM-K. Nearly 50 per cent of the firms taking part in summer placements at IIM-K were among Indian & Global Fortune 500 firms. Amazon, Deloitte Strategy & Operations, Fidelity Investments, Goldman Sachs, Hewlett Packard and Pidilite extended 61 offers in total. IIM-K also saw 35 new recruiters, including Amazon, Abbot, Bajaj Auto, Cipla, Kotak Wealth Management and Procter & Gamble.
IIM-Bangalore (IIM-B) saw strategy consulting emerge as the top recruiting sector, making 90 of the total of 400 offers by 130+ firms within three slots. This was followed by 54 offers in the e-commerce and technology sector; 51 in sales & marketing; 38 in general management; 32 in corporate finance and commercial banking; 27 in the investments and capital markets; 23 in information technology (IT) and IT consulting; and 21 in business analytics.
“IIM-B continues to be the preferred campus for consulting, finance and analytics profiles with many firms increasing their usual number of offers. Marketing offers also substantially increased this year, with greater interest from top recruiters and students in this domain,” said Harsha Bhattad, student placement representative at IIM-B, which saw other major summer recruiters making 68 offers in varied internships.