A file photo of IIM Bangalore. Photo: Mint
Bengaluru: Indian Institute of Management, Bangalore (IIMB) has said that it completed summer placements for its entire batch of 410 students, with consulting firms making the most offers.
The business school also saw Internet companies such as Uber Technologies Inc. join a growing list of companies that are hiring interns.
The summer placements saw about 150 firms, which came to hire interns, who will spend eight to 10 weeks in the companies and may eventually be offered jobs even before the final placement.
In 2014, 398 summer placement offers were made, which led to 137 pre-placement offers (PPOs). “We expect to see more than a third of the batch get PPOs this year too,” said Sapna Agarwal, head, career development services, for IIMB.
This year, of the 410 offers made, 30% came from consulting firms. The Boston Consulting Group Inc. made 22 offers, which was also the highest number of offers ever made by it across Indian campuses.
Accenture Plc, with 16 offers, and Mckinsey and Co. Inc., with 12 offers, were also top recruiters this year, the institute said in a statement.
Usually, firms pay a month’s salary to the interns, and these stipends can range between Rs.40,000 and Rs.250,000, depending on the company.
About 11 start-ups and e-commerce companies, such as Amazon.com Inc., Flipkart, Snapdeal, Hopscotch, Myntra, Uber, Ola, Quikr India Pvt. Ltd, Info Edge (India) Ltd, LinkmySport Inc. and Channelplay came to the campus this year, said IIMB. These firms made 55 offers in all, an increase from the 50 made last year.
Even though the start-ups and e-commerce firms are becoming a growing presence on campuses, consulting and finance firms were given the opportunity to recruit on day zero. Start-ups and e-commerce companies were allowed to interview candidates on day one of the summer placements.
IIMB, also for the first time, made available the option of choosing a dream company for the students. This means that students could choose to attend the interview of their dream company even after getting an offer from another company.
Interestingly, none of the e-commerce firms and start-ups featured in this list.
Recruiters like Tata Administrative Services, the Aditya Birla Group, Procter and Gamble Co., ITC Ltd, and Hindustan Unilever Ltd were chosen by students with offers as their dream company, said the institute.
“There is a strong perception that has been built about these companies, as they have been hiring for about 30 years. So there is still a strong allure for these jobs,” said Agarwal.
IIM Bangalore also hosted the summer recruitment process for IIM Visakhapatnam for the class of 2015-2017, where 60% of the applicants were placed.