Phase I of Final Placements at IIM Calcutta Sees Finance as Preferred Sector

IIM Calcutta held the Phase I of its final placements process from 21st February to 24th of February ‘09. The campus saw participation from a large number of firms from various sectors who recruited students for roles in finance, consulting, marketing, operations, general management and IT.

A total of 265 students from the Post Graduate Diploma Management (PGDM) and Post Graduate Diploma in Computer Management (PGDCM) Batch of 2007-09 were eligible for placements. By the end of the first phase, a total of 207 offers have been made, which includes students with multiple offers. 56 of these are pre-placement offers (PPOs) made to students based on the summer internships. A few PPOs were rejected by students themselves due to the expected curb on H1B visas and location preferences.

A total of 49 companies have visited IIM-C in the four days of Phase I while 25 companies came for recruitment during lateral process. We had a total of 107 companies visiting the campus for hiring during the complete placement process last year.

Out of the 207 offers, 33 offers are for international locations with assignments in US, UK, Europe and the Asia-Pacific region. India still remained the preferred destination for a majority of the students with many choosing to stay here and participating in the Great Indian Growth Story.

IIM Calcutta maintained its niche with the much sought after Slot 0 companies, with as many as 89 offers in Slot 0 alone. These include 50 Slot 0 PPOs and 39 Slot 0 final placement offers. Companies making the highest number of Slot 0 offers (PPOs and finals) are McKinsey, BCG, Frost and Sullivan, Merrill Lynch, Barclays Capital and Morgan Stanley. Firms such as Hindustan Unilever, Procter & Gamble, ITC and Nokia, too, were among the highly preferred companies in Slot 0.

The compensations offered by the companies, contrary to predictions, have not fallen. Firms offering a posting similar to those offered the previous year ensured that the remuneration was competitive, and in many cases better than their previous offerings.

Effect of the Global Recession

As with every other business school in the world, IIM Calcutta too faced an unprecedented challenge in placing its students this year. A noticeable change as compared to last time is the number of offers made (or accepted) per company. Many international firms affected by the downturn had reduced the number of offers made, while in quite a few instances, students rejected lucrative international offers to opt for more secure jobs in other firms in the same sector. The expectations this time were not high, after seeing the placements in other leading colleges across the country. But in spite of all this, the results till now have exceeded expectations. Various new firms made their presence felt, making a large number of offers, both domestic and international. Though not as glamorous as last year in terms of the number of offers, this year definitely has its high points in terms of the quality of jobs offered.

Sector Preferences

IIM Calcutta has shown its indifference to the crisis this time around, with over 45% of the students placed till now opting for finance portfolios. Consulting too took a substantial number this time, with over 25%. Over 23% of the visiting companies offered high profile marketing roles.

Phase II

The Final Placement Week this time in IIM Calcutta was split into two phases due to the final examination of the Graduating Batch of students. Therefore, Phase I, consisting of the first four days (Slot 0 and Slot 1) happened on February 21-24. Phase II will commence after the examinations are done. This is scheduled to begin on March 2.

Clarification

Contrary to the reports published by the media over the last few days regarding the participation of certain firms in the Final Placement process, we would like to issue a clarification on the facts involved. Many firms have a policy of recruiting students for a summer internship, evaluating them on the basis of the skills they display there, and then making them a final offer. These firms do not come to campus for the final placements, as they have already made their offers. The fact that these companies do not come to campus does not mean that they have showed unwillingness in recruiting students. IIM Calcutta enjoys a very healthy relationship with the corporate sector, and that has come to the fore this year, where in spite of the Meltdown, companies have still come to campus to recruit students.

The final placement report will be made once the process is complete.