In an indication of it being a year of ‘revenge placements’, much like ‘revenge tourism’ last year, management schools across the country managed to place all their students within hours of the placement season taking off.
With the war for talent at its fiercest after two years of a lull in recruitment, slow industrial growth and the resignation pandemic, many lined-up recruiters had to break their journey and turn back. Reason? The campuses had run out of students to be placed.
Picture this: At the state-aided Jamnalal Bajaj Institute of Management Studies (JBIMS), final placement ended in three days. Of the 112 firms that registered, 57 had to be sent an apology letter, said director Srinivasan Iyengar.
“We regret to inform you that the JBIMS batch of 2022 has completed its final placement process, and all the students have thereby been signed out. This anomaly has been caused by a surge in the number of offers made by companies across various industries. This has impacted every top B-school placement process in the country, with JBIMS being no exception, which could not accommodate many of its legacy recruiters,” read the apology note.
The Indian Institutes of Management that closed placements too saw a similar trend. “It’s been a year of revenge placements, much like revenge travel,” professor Debashis Chatterjee, director of IIM Kozhikode, put it succinctly. What took six days last year was completed in three this time.
Despite an increase in batch size and more diversified program portfolio, average salaries increased substantially and the season witnessed record-setting hiring from the inaugural batches of PGP in Liberal Studies & Management and PGP in Finance. The market signals for recovery are very strong. IIM Kozhikode has outperformed the normal hike in the job marker by a big margin,” added Chatterjee.
At IIM Indore, the placement season was wrapped up in “record time”. As the economy witnessed an upturn, marquee recruiters made an incredibly high number of offers, said Himanshu Rai, director, IIM Indore. “The immensely successful placement season meant that there were some companies who were extremely excited to recruit from IIM Indore but could not due to the intense momentum of placements. There are a considerable number of such companies, but we are exploring parallel modes of corporate engagement as we look to build a top-notch cohort of recruiting partners for the future,” said the institute spokesperson.
This year, the school of business management of NMIMS Mumbai took 8 days to place all students for the final placements for MBA core and MBA HR as compared to nearly three-odd weeks last year. “Firms competed to recruit in large numbers; 30% of the batch got placed through the PPO route, signifying the excellent performance of our students in their summer internships,” said dean Prashant Mishra.
(Source: timesofindia.indiatimes.com)