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New IIMs see slowdown in placements
IIM, the name has its own glory and reputation. An IIM is the best when it comes to provide quality managers. IIMs has the history of magnificent placement for their students.
But Newer Indian Institutes of Management (IIMs) are experiencing a cold placement season this year. These IIMs had started placements earlier but several recruiters are withdrawing offers.
Economic factors such as demonetisation, rising automation and US visa issues are among the reasons recruiters across sectors such as information technology, fast-moving consumer goods and banking, financial services and insurance have gone slow on recruitments, say newer IIMs.
Recruitments at non-IIM B-schools, both top and mid rung, grew on the back of marquee firms from leading sectors such as consulting, banking, financial services and insurance (BFSI) and information technology (IT) hiring in substantial numbers, thereby ending the placement year on a high note. While the hype over e-commerce seemed to be settling down, consulting, IT and BFSI consolidated their positions this year during placements at B-schools.
IIM-Udaipur, for instance, has a batch of 144 students participating in final placements, which began on November 30, 2016. But it is yet to place 20 students.
IIM-Trichy has seen a dip in the number of offers per recruiter for several reasons. The institute began its placement process in the last week of December but a cyclone in Chennai had played spoilsport. Several companies had to cancel campus interviews and these have not been rescheduled.
The recruiters will measure the performance of the first batch. Until the early 1990s, India had four IIMs (at Ahmedabad, Kolkata, Bangalore and Lucknow). In 1996, it added two more, at Kozhikode and Indore. In 2007, it added one at Shillong. IIM-R, IIM-Ra and IIM-Rp started operating in 2010, and in 2011, IIMs at Tiruchirappalli, Udaipur and Kashipur admitted their first batch of students.