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Slot zero recruiters bench IIM grads
More than 25 students from across various IIM campuses, who have offers from traditional Slot Zero recruiters, have been asked to join 6-12 months later than the initial joining date. Top recruiters including McKinsey & Co, Bain & Co are likely to offer about 25-35% of the lucrative salaries originally promised till such time the students actually join the company. The affected students, several of them being toppers of their respective batches, are reaching out to their institutes for projects and help, while some are taking up short-term courses.
Source:The Economic Times, June 10, 2009. “Top recruiters defer IIM grads’ joining dates”
IT companies go the online way to cut costs
Institutes like National Institute of Fashion Many students who were waiting for their job letters from IT firms like MindTree and PurpleLeap are now undergoing e-learning modules that have been formatted to save on time, infrastructure and atleast 25%-30% of their expenditure. It would also help in diminishing students’ apprehensions about the validity of the offers, which is prevalent due to uncertainty in the job market. In another option of this 6-month online training programme, there is on-campus training where students have to bear a cost of Rs 20,000-40,000 per person.
Source: DNA (DNA Money), June 5, 2009. “IT training firms change tack as budgets tighten” Page no.2
IIM-A executive programme students face the tide
Global meltdown has taken a toll on the students of the executive programme at IIM Ahmedabad with five students still awaiting placement. Domestic and international salaries dropped from Rs 26.81 lakh to Rs 20.16 lakh and $145,000 to $122,000 respectively. Adani, IBM, McKinsey and RPG were some of the recruiters at the event which witnessed 63 students getting placed in the domestic market and two in the international market.
Source: The Times of India, June 2, 2009. “Placement blues hit IIM-A executive batch too”
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New courses in India promise to offer varying jobs
Institutes like National Institute of Fashion Technology, Centre for Environmental Planning and Technology and National Institute of Design have introduced courses like management, master of technology management, information & interface design and design for digital experience media design and design for retail experience in their syllabi. This, according to them, will benefit the students in availing varying job offers apart from the usual ones.
Source: DNA, June 1, 2009. “Futuristic courses, better jobs” Page no.4
Students making most of their vacations
Instead of laying around at home and partying with friends, students are now looking forward to working part-time during holidays and earning as much as Rs. 3000-5200 a month. Restaurants like Dominos, Pizza Hut and Mc Donald’s receive numerous requests from enthusiastic youngsters for whom it is quick money combined with experience. The selection criteria includes passing of Class 12, good orientation skills and communication skills in English.
Source: The Economic Times, May 31, 2009. “Students queue up for part time jobs during vacation”
Companies on a talent hunt drive in North Indian college campuses
At a time when even students of premier Indian B-schools face difficulty to secure good jobs, their counterparts from Maharishi Markendeshwar University, Ryatt, Bahra, UBS, Kurukshetra University and Lovely Professional University seem to be lucky to bag offers from big companies. They have received salary offers as high as Rs 16 lakh from firms like Vodafone, Axis Bank, Dell Computers, Innovative India, HDFC Standard Life Insurance, Lupin Limited, Hewitt Packard, TCS, Infosys, Blue Star technologies and Agilyst Consulting.
Source: The Financial Express, May 23, 2009. “Big cos hunt for talent in Punjab, Haryana campuses” Page no.9
Students of top Indian B-schools laid off overseas seek help from their alma mater
Close to 300 former students of premier Indian B-schools are experiencing difficulty owing to the economic meltdown. On their return to India after being laid off, these students, who are from institutes like IIM-A and ISB, have started approaching their alma mater for placements. Many of them plan to shift to avenues of teaching and marketing from finance and a few of them aim to establish their own ventures.
Source: Business Standard, May 13, 2009. “Laid off overseas, IIM students request institutes to place them again” Page No. 15
Recession hit IT firms to go slow in campus hiring
Until last year, the IT industry, which experienced an oversupply of engineers, recruited students before they completed their graduation to provide 2-3 months training. But this year, having received a severe blow from the global recession, firms like Wipro and TCS will adopt optimum utilization strategy and hire students only in the final semester when the market demand increases.
Source: www.yahoo.com, May 8, 2009. “Fewer campus job offers this year as slump hits IT cos”
Collegians opt for PSUs over private firms for job security
With PSUs like Union Bank of India offering security in jobs besides benefits like life-long pension, holidays and fixed working hours, students in Ahmedabad are in favour of government jobs. A survey conducted amongst 7500 youngsters in February-March revealed that 60 % of the respondents wanted to apply for sarkari jobs and 20 % would pursue higher education while the rest would get into entrepreneurship.
Source: The Times of India, April 21, 2009. “College students want sarkari jobs now”
Top B-school students look for alternatives on job portals
Although the IIM-Ahmedabad placements are over, students are uploading their resumes on job portals like iimjobs.com and naukri.com as they have managed to secure only average jobs. This trend is not only common in institutes like IIMs and ISB to XLRI, FMS and MDI, but job seekers who have secured degrees from universities of UK and US are looking for jobs in India too.
Source: Business Standard, April 20, 2009. “ISB, IIM students place resumes on job portals” Page No. 15
Tough times ahead for executive programme students
Reports suggest a fall of 20% in the number of students enrolled through various companies for management education. Although the director of XLRI claims that companies are not recruiting people with many years of experience, but it is because of tightening of the corporate budget strings that has made the difference. So far only IIM-C has managed to complete its placement process for executives.
Source: Business Standard, April 13, 2009. “Executive education sees poor response, lower salary offers” Page No. 15
Top B-schools have secured placements comfortably
Institutes like Jamnalal Bajaj Institute of Management Studies, Mudra Institute of Communications, Ahmedabad, SP Jain Institute of Management Research, Indian Institute of Foreign Trade, Management Development Institute and Goa Institute of Management successfully wrapped up placements with secure jobs for their entire batches. However unlike the salaries offered at IIMs, these second-tier institutes have seen their average salaries sliding compared to last year with accepted average salaries ranging from Rs 6-10 lakhs.
Source: Business Standard, April 13, 2009. “Non-IIMs witness comfortable placements, but drop in salaries” Page No. 15
B-schools face difficulty in placing executive programme students
India’s leading B-schools like the IIMs, which are still experiencing difficulties in winding up placements for the two-year post-graduate programme, have another daunting task to take up. Placement of students of the executive programme has been extended till April-end to accommodate them. Only 50% students at IIM Lucknow’s Noida campus have secured jobs with exceptions like IIM Calcutta which has achieved 100% placements.
Source: Business Standard, April 6, 2009. “Hiring season for executive programmes extended at IIMs” Page No. 15
Management students more inclined to take up PhD courses
One reason that could have led to increase in the number of students opting for teaching as a career after entrepreneurship is the economic downturn. In institutes like IIM-Lucknow and Institute of Management Technology, the number of students applying for PhD courses has increased tremendously. Contradictory to this, many have chosen to work in the corporate world before taking up teaching to clear their educational loans.
Source: Business Standard, April 6, 2009. “B-school students opt for teaching as a career” Page No. 15
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