IIM Placements: Many recruiters give campus a miss

Source - IBN Live

 

Placement season at the Kolkata, Ahmedabad and Bangalore IIMs - extended for the first time in their history- has come to an end. But the blues aren't over.

Salaries have fallen - the worst hit being IIM Ahmedabad. Average salaries here fell 30 per cent to around 12. 5 lakh a year.

The average salary at IIM Calcutta this year is 14 lakh rupees - down 12 per cent over last year. Interestingly, offers from the financial sector rose.

"Forty per cent of the offers came from the financial sector as compared to 34 per cent last year. Another interesting fact is that the PSU have made a major comeback," says Shekhar Chaudhary of IIM-C.

But the yearly wage offered by PSUs was just 7 lakh. The story was no better in Bangalore. Average salaries were down 30 per cent to between 9 and 12 lakhs per annum.

"Many of the regular recruiter have refused to participate because they are undergoing recruitment freeze," says a IIM-B student.

PSU banks were among the top recruiters, hiring 34 of the over 200 students at IIM Calcutta. Things will be better next year says a report by global job survey firm Manpower. A survey of 3600 employers over seven sectors indicates slow but steady hiring could happen from the second quarter of 2009.

While the meltdown has taken a global toll, India hiring will be the highest in the Asia Pacific region.