IIM Ahmedabad completed its summer placement process for the PGP students of the batch 2010-12 today. The process, which spanned over four clusters, saw participation from 102 recruiters. This year the batch size had increased to 378 students and all the students were placed at the end of the fourth
Cohort system during summer placement process
The new cohort system was introduced for the first time in the summer placement process. It allowed companies to interact with the students for a longer period of time and the students to interview with the companies of their choice. For the first time, the group processes and interviews were decoupled and held on different days during a summers process. This ensured that no student lost out of any opportunity to participate in either of these processes due to overlapping schedules. The breaks between clusters also allowed students to relax and prepare for the next round of interviews.
Banks and consults were the among the largest recruiters
Royal Bank of Scotland once again reaffirmed its faith in the talent at the institute by making 22 offers on Cluster 1. Standard Chartered, Nomura and Morgan Stanley made thirteen, nine and eight offers respectively for investment banking and markets roles. Consulting majors, Accenture and Ernst & Young made 10 offers each, while McKinsey and Boston Consulting Group made 6 offers each. This year first-time recruiters, T Rowe Price and Hay Group, from the fields of investment management and niche consulting respectively participated in the process. Other recruiters from the finance domain included international recruiters like Goldman Sachs, Barclays, J.P. Morgan, Bank of America-Merrill Lynch, Citi Group, Credit Suisse, Deutsche Bank, HSBC, Rothschild, UBS and American Express and Indian financial services firms like Religare, Edelweiss, Axis Bank and ICICI Bank.
Regular recruiters Tata Administrative Services, HUL, P&G, Cadbury Kraft, Aditya Birla Group, Diageo, Mahindra & Mahindra, Nokia and Coke offered general management, sales and marketing profiles to the students. Reliance Industries and GE recruited for the first time from IIMA for the general management and business development roles. Some of the other prominent recruiters were Cognizant, Ogilvy & Mather, Marico, Feedback Ventures, Nestle, Britannia, Heinz, AstraZeneca, Honeywell, Glaxo Smith Kline, J&J Consumer and J&J Medical.
Internship opportunities in new domains
There was a shift in student preferences this year as some students opted for exciting profiles and diverse responsibilities. Students will be interning in firms in the diverse sectors such as social gaming (Playdom), advertising (Ogilvy & Mather), credit rating (Onicra) and rural finance (IFMR).
Treading on the unbeaten track
This year we have a higher number of students opting out of lucrative corporate internships as a matter of choice despite interview shortlists from several top-tier firms. This includes four students who have chosen to work under Dr. APJ Abdul Kalam on the PURA project envisaged by him. Another student with an interest in governance and public policy formulation would be interning under Shri Prem Das Rai, Member of Parliament from Sikkim. Given the fact that the internship period coincides with the budget session, this provides a unique and exciting opportunity for a ring-side view of policy making at the highest level. Several students keen to pursue a challenging and entrepreneurial experience have chosen to intern with the National Innovation Foundation (NIF), an initiative of the Department of Science and Technology, Government of India. NIF works towards discovering grassroot innovations and helping them transition into self-supporting business activities.
Recruitment Secretary, Movin Jain, commented, “The Summer Placement season this year was phenomenal. Students and recruiters, both were visibly more satisfied about the decisions they took. There was no pressure on students to accept offers even on the last day of Placements. In fact, most students who got placed towards the end, did so after rejecting at least one offer. There were opportunities available to students in politics, grassroots innovation and national development. For the first time, students voluntarily rejected earlier Cluster firms, to take up such opportunities in later Clusters. This signals a break away from the ‘day’ jinx.”
According to Prof. Saral Mukherjee, Placement Chairperson, “We organized the summer placements on cohort basis for the first time this year and the results have been very encouraging. The number of offers per firm saw a significant increase resulting in the largest batch so far being placed in a fewer number of firms than last year.”