On the job: Business schools report strong summer placements
NEW DELHI: Amid concerns over falling employment opportunities in the country, several top B-schools, including some Indian Institutes of Management (IIMs), have reported strong summer placements for their students with sales and marketing, finance and consulting firms being the top recruiters.
While IIM Lucknow and IIM Kozhikode completed their summer placements within four days, XLRI Jamshedpur achieved 100% placement in just two days.
The Indian Institute of Foreign Trade (IIFT) reported completion of its summer placements with double-digit growth in average stipend offered. Mumbai-based SPJIMR, too, reported good response from companies with a 24% rise in the average stipend.
Though summer placements or internships are not the same as final placement, they are indicative of the job environment these campuses are likely to witness in a couple of months for their outgoing batches of students.
They come amid concerns that job creation has been impacted by policies like the goods and services tax (GST).
“The healthy economic environment has helped IIM Lucknow maintain its status as a top recruiting destination and has attained 100% placement for its largest batch of 459 students,” the B-school said, adding that it has 40 new firms in its pool of recruiters in 2017, as against 32 in 2016.
At IIM Kozhikode some 100 recruiters made 359 offers and the average stipend has grown 25%. Though the school did not quantify the average stipend offered, it said the highest stipend offered was ₹3 lakh. Similarly, XLRI said average stipend has gone up by 20% and at IIFT, it has gone up by more than 11%.
Institutes that have completed their summer placements said sales and marketing, consulting and finance were the top roles for which students were selected.
JPMorgan Chase & Co, Godrej Industries Ltd, Aditya Birla Group, Amazon India, Uber India, Cipla Ltd, American Express, Deutsche Bank were the top recruiters across campuses.
Between 2011-12 and 2015-16, India created 3.65 million jobs a year, according to lobby group Confederation of Indian Industry (CII).