Summer placements will kick off on Tuesday
Over 110 firms expected at the campus over
the next four days
BANGALORE: Anxious eyes will be trained on the Indian Institute of Management’s placements for the summer internships which is expected to be the bellwether of career prospects in the backdrop of the current economic slowdown.
The summer placements will kick off here on Tuesday and roughly more than 110 companies are expected at the campus over the next four days, and the mood at this elite institute is largely that of apprehension.
There has been a significant increase in the number of media and infrastructure firms that are visiting the campus, said Aditya Kasyap, second year student and placement cell representative. Marquee recruiter Lehman Brothers, which shut shop dramatically, had made 13 offers last year.
Though top investment banks will be present in the “slot zero” on day one of placements, students are not sure that the number of offers made will be in the same league as last year.
Though IIM-B did not confirm the exact number of companies which have been slotted for these summer internships, the impact of the near collapse of the U.S.-led global finance system is obvious.
The institute, which invited only 85 companies last year, is playing it cautious and has increased the participation by roughly 40 per cent this year.
Nearly 60 companies made offers to the previous batch.
Incidentally, this is also the largest batch that is sitting for placements at IIM-B. The batch strength went up by nearly 30 last year after the OBC quota was implemented. Sourav Mukherjee, chairperson placements, told The Hindu that with companies resorting to “belt tightening,” they have even kept a few companies as back-up.
“For the first year students this is an academic exercise. However, the offers and company profiles will be closely watched by final year students who will be up for placements in less than four months,” Prof. Mukherjee explained.
“This will certainly be an indicator and will show us how ‘bad’ is bad,” he added. Kasyap said that they are watching it closely because it is co-related and will give an idea of where the industry stands.
Consulting firms, investment banks, general management, real estate, infrastructure and lifestyle are expected on campus. “Students are aware that the context today is not the same as it was two years ago. How many offers these companies make this time around will be closely watched,” Prof. Mukherjee explained.