“After completing Engineering, I joined MBA at a reputed university in Bengaluru, as I was told that it would improve my job prospects while also providing exposure to another field. Looking at the current placement trend, I feel like I should have secured a job three years ago after I finished my course,” said Vishnu Prasad (name changed), an MBA student from a private university in North Bengaluru.
Owing to the ongoing economic situation and a dearth of new projects at MNC companies, many MBA students like Vishnu have not been placed in any company so far.
Management institutions from across the city said that while the number of companies coming to the campus has remained intact, the number of jobs has dropped this year.
“While most other sectors are doing fine, there has been a drop of about 10% in IT hiring of MBA students this year as the companies, especially those with global clients, have reduced the number of offerings,” said Preethi Bhandari, Head of Corporate Relations, Jain Group of Institutions (JGI). She added that with new projects expected to begin in the new quarter in January, there is hope for more placements.
Universities also said that companies are being cautious as to not offer jobs when they are not sure if they can onboard the candidates immediately.
“The number of companies that are coming to the campus is the same as the previous year. But they are hiring fewer people. If they were previously looking at 25 candidates, now they are only looking for 15. However, companies are also aware that once a student gets an offer, they will be taken out of the placement process and thus provide offer letters only when they are sure of onboarding them,” said Molly Mampilly, who heads MBA placements at Christ University.
Universities have remained optimistic that the placement percentage will not be greatly affected as more recruitment might happen in January and February.
Fewer offers at IIMB too
At the Indian Institute of Management Bengaluru (IIMB), during the summer internship recruitment between November 6 and 11, out of 600 students, 490 found recruitments, while 65 are still in the process of being recruited.
A spokesperson from the institution said that it will be ensured that every student requiring an internship would get one that gives them the opportunity to learn on the job.
She also said that owing to many factors, including the Deepavali break, the process has continued beyond the designated week. She added: “This year, companies made slightly fewer offers than in the past. When we invite new companies on campus, the process takes slightly longer.”
Published - December 08, 2023 08:45 pm IST
