The Indian Institute of Management, Calcutta concluded placements for 278 participants of the batch of 2010 on March 10, claimed an institute press release. The process took five days, at the end of which 37% students opted for jobs in the finance sector, followed by 27% in consulting and strategy and 18% in marketing and marketing research, added the press release.
“IIM Calcuttas final placement process for the batch of 2008-2010, kicked off on 6th March 2010 and concluded on 10th March 2010, lasting for a total of five days. The process was conducted in slots, with each slot lasting for two days. Slot-0 took place on the 6th and 7th of March, Slot-1 on the 8th and 9th, and Slot-2 began on March 10th. The process came to an end in the middle of slot 2, with all 278 students who sat for the placement process receiving job offers at the end of the fifth day,” said the placement report. Offers made in slot-0, which excluded pre-placement offers, amounted to a total of 91 offers.
As many as 65% students in the batch had prior work-experience, of which 12% had worked for more than 36 months before joining IIM Calcutta. The remaining 35% of the batch was that of freshers.
The major recruiters in the financial sector were Yes bank and ICICI bank, as at IIM Ahmedabad placements. Yes Bank extended a total of 13 offers while ICICI bank made 10 offers. American Express hired a total of six students for diverse profiles such as business transformation, international risk management and for American Express Banking Corporation India. Other global investment banks such as UBS, Goldman Sachs, JP Morgan, Nomura, Morgan Stanley, Credit Suisse, Royal Bank of Scotland and Macquarie Bank too extended offers, though the institute did not specify how many. Temasek Holdings, the investment arm of the Singapore government also hired from IIM Calcutta, said the press release. Some of the other major recruiters included HSBC Bank, Allegro Financial Services and Edelweiss Capital.
Consulting remained the second-most preferred sector for students, with 27% of the students accepting offers in consulting companies. With 15 offers across six different roles (of which four were lateral offers), Accenture Business Consulting was the biggest recruiter in the consulting space. Cognizant Business Consulting extended 14 offers to students during the laterals process. Oliver Wyman made five offers for their international offices in London, New York, Dubai, Singapore and Mumbai while Mckinsey & Co, The Boston Consulting Group, AT Kearney, Bain & Co, Deloitte
Consulting, Opera Solutions and Diamond Consultants were some of the other recruiters from consulting sector.
Marketing and Market Research
Among companies that offered marketing roles, Hindustan Unilever made five offers, Procter & Gamble made four offers and Nokia extended three offers (all including pre-placement offers). Johnson & Johnson made four offers at IIM Calcutta. ITC, Godrej, 3M and Medtronic too offered jobs to IIM Calcutta students during the process.
As many as 16% of recruited students took up General Management roles. With seven offers (on of which was a pre-placement offer), Tata Administrative Services was the biggest recruiter in this category.
Apart from these broad classifications, students also opted for jobs in niche sectors like microfinance and the media or the genetic engineering firm Biocon. As many as 17 students in the batch received international offers.
According to the institute, “This year’s lateral placements process began in the first week of January 2010 and continued till the last week of February. The minimum amount of work experience required for being eligible for the laterals process was set at 10 months and 170 out of the 280-strong batch was eligible for the process. 46 firms visited the campus during the laterals process and 92 offers were made at the end of the laterals process. Mahindra & Mahindra recruited during laterals for the first time while i-Nautix, Star TV, Amazon and Microsoft were some
of the other recruiters during this process. When the institute started the final placements process, 92 students already had laterals offers while another 36 has pre-placement offers.”
The average domestic compensation excluding year-end bonuses stood at 15.32 lakhs. The average international package exclusive of bonus is USD 123,450 (the lifestyle earned with that salary in the USA would approximately be equivalent to one earned in India at Rs 20.17 lakhs per annum; as per the principles of The Economist’s Big Mac Index at January 2010 prices).
Edited later: 2nd paragraph, last sentence was wrongly written as, “Offers made in slot-0, which included pre-placement offers, amounted to a total of 91 offers.” The correct version is, “Offers made in slot-0, which excluded pre-placement offers, amounted to a total of 91 offers.”