Majority of IIM-B students opt to work in India

A majority of the outgoing batch of Indian Institute of Management, Bangalore (IIM-B) students have opted to work in firms in India.

A good 75 per cent of the 256 students, who appeared for placement before leading global consulting companies, investment banks and marketing companies, opted for a career in India this time. Only 25 per cent opted for overseas locations that included London, New York, Boston, Shanghai, Bangkok, Hong Kong, Florida, Dubai, Amsterdam, Sydney and Melbourne.

Four students opted out of the recruitment process, which had brought head-hunters from a total of 120 global and Indian companies to the IIM-B campus. The four students will pursue an entrepreneurial career by starting their own ventures.

The number of IIM-B graduates opting for an overseas posting came down from 30 per cent to 25 per cent this year.

However, as a policy, the management of IIM-B did not reveal the pay packet offered for the students. “Since last year, we have decided not to reveal the package offered. If the compensation figures are mentioned by other IIMs, it is their choice. We are not aware which company has offered what pay packet and to whom”, IIM-B faculty member (placement) Sourav Mukherjee told reporters.

The good turnout for the placement for IIM-B graduates comes in the midst of global recession. But, undeterred by the global recession and the fall out of sub-prime crisis in the US, a large number of investment banks flocked to the premier B school in Bangalore to snap up the brightest among the candidates.

McKinsey and Co made 15 offers followed by Lehman Brothers and Boston Consulting Company with 11 offers each. Deutsche Bank came up with seven offers, Merryl Lynch, Bain and Co and AT Kerney made six offers each. Goldman Sachs and Morgan and Stanley came with five offers each.

“The increasing number of global recruiters bears a strong testimony to the maturing global reputation of IIM-B. Inspite of recessionary fears in the US and the resultant slowdown in global economy, we have not seen such concerns impacting hiring our students”, IIM-B Director Pankaj Chandra told reporters.