KARNATAKA

Summer placements completed at IIMB

Staff Reporter

Many equity firms chose to recruit exclusively from IIMB Students offered a choice of international locations

BANGALORE: In five days flat, every one in the batch of 253 first year students of the Indian Institute of Management, Bangalore (IIMB), found a recruiter to complete their 10-week summer placement.

An academic requirement, the 10-week internship from mid-April to mid-June provides key on-site exposure to students and also indicates where the final placements are headed. The proportion of students choosing to join investment banking was the highest this year, closely followed by consulting. The largest recruiters this year were Lehman Brothers (17 students), Merrill Lynch (15), JP Morgan (nine) and Goldman Sachs (eight). In all, 127 candidates were placed during "Slot Zero," the first two days of summer placements. McKinsey and Co., Bain and Co. and AT Kearney were first-time recruiters, who placed 11 students. Nineteen students accepted offers from consulting firms in "Slot Zero."

Twenty-eight firms had lined up for "Slot Zero," a presence substantially larger than last year's 16. Investment banking firms, the most coveted recruiters on campus, recruited for more locations and profiles this year, with several of the big banks placing students for both their capital markets and IBD businesses. Another highlight was the lateral profiles offered by leading firms such as Goldman Sachs and Deutsche Bank, which are similar to the profiles being given at leading B-schools in the West. "This stands testimony to the growing global recognition of the IIMB brand," said the person in charge of summer placements this year. This year, a number of private equity firms chose to recruit exclusively from IIMB. Chrys Capital, India's largest private equity investor visited the IIMs for the first time.

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