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Placements gain pace at B-schools on revival hopes

Management graduates from top B-schools including the Indian Institutes of Management have bagged over 5,000 jobs as placement season gets going. However, the success of top schools may not get replicated across all campuses especially in small cities. Mint explores.

Are B-schools doing well on placements?

Placements at the top management schools, including IIMs, which have either finished placing their graduates or are on the verge of doing so, picked up well with students bagging over 5,000 jobs. IIM Bengaluru received 481 job offers for 435 graduates. IIM Kozhikode placed its 459 students across key roles and at XLRI Jamshedpur, 358 students achieved 100% placement. At IIM Lucknow, 460 students bagged job offers with higher salaries. Bhavan’s S.P Jain Institute of Management and Research placed its batch of 250 students with higher salaries than last year. IIM A and IIM C are yet to complete their placements.

How do the salaries compare with before?

Management graduates are not witnessing a double-digit growth in average annual salaries as companies remain hesitant to open their purses. The graduates of IIM Lucknow saw a growth of 7% in their annual salary packages. At IIM Kozhikode, average salary was about 5% less than last year’s pay. At XLRI, the average salary grew by around 3%. “Leading private B-schools and IIMs are doing well, but average annual pay will be either flat or marginally higher than last year. It is along the expected lines in the given scenario,” said H. Chaturvedi, director of the Birla Institute of Management and Technology.

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Muted Growth

What challenges are biz schools facing this year?

One huge challenge is that most of the placements are happening virtually.

This, in turn, is cutting down travel time for hiring management graduates, but management schools agree that the key element of personal touch is missing. The economic environment is also not ideal for most recruiters. Some schools agree that the schedule is occasionally unstructured.

Which sectors are looking to hire most?

Sectors such as consulting, banking financial services and insurance, and IT are hiring the most. At IIM B, of the 481 jobs offers, 165 offers were made by consulting firms alone. Accenture made 45 offers and Bain & Co. offered 24 jobs, said IIM B. Financial companies such as Goldman Sachs, Citibank, ICICI Bank have also made good offers. E-commerce giants Amazon and Flipkart have been active recruiters, while edtech and fintech firms such as Byju’s and Paytm have hired from top schools.

Will all management schools  see  a  good  run?

Top B-Schools such as IIMs enjoy a special position among recruiters because of their pedigree and long-standing relations. This may not be replicated across other campuses. Tier-2 and -3 schools continue their placement season till June-July but 100% placement remains far-fetched, mostly. Many B-schools under AICTE’s rules achieved less than 50% placement in the past years. The situation may improve slightly this year as the economy is improving and businesses are optimistic about hiring plans, compared to last year.

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