As economy picks up, students are securing full placements in premier institutes

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If the economy is reviving, can student placements afford to miss the signal?

After IIM Bangalore secured 100% student placement, IIM Calcutta placement cell representatives said only four-five students are left to be picked up with recruitment process continuing on the last day of recruitment on March 3.

Information emanating from the IIMs and IITs indicate that students are being successfully placed even as the economy on the recovery path after two consecutive quarters of contraction.

IIM Bangalore recorded a 100% placement with all 435 students securing placements with companies from the consulting, information technology, finance space and consumer goods firms making most of the offers. A total of 481 offers were made to the students.

March 3 is the last day for placements at IIM Calcutta. The process started on February 28. “About 200 students registered for recruitment and only four-five students are left to be picked up,” said Sachin Raj Soni, student representative on the placement cell.

In IIM Ahmedabad, the placement process started on March 2 and is expected to continue till March 8.

The companies picking up students from IIM Bangalore included some of the best global brands – McKinsey & Company, Boston Consulting Group, Pricewaterhouse Coopers, TCS, Microsoft, Byju’s, Adobe, Oracle, Amazon, Deutsche Bank, Goldman Sachs, Citibank, Barclays, Reliance, Proctor & Gamble, Samsung, ITC and Coca-Cola.

Consulting companies made 165 offers with Accenture making the maximum 45 offers. Finance companies made 67 offers.

The company to pick up the maximum number of students was McKinsey & Company. It recruited 18 students.

“Our students have done remarkably well. They have been recruited by companies despite COVID-19 disruptions,” professor U Dinesh Kumar, chairperson, career development services, IIM Bangalore told the media.

IIT Kharagpur also reported encouraging placement results. In December, the students bagged more than 1,000 offers till the eighth day of the recruitment drive. Though the process if yet to be closed formally, the first phase showed that the students also got offers from Japan and Taiwan.

Some of the recruiting corporates at IIT-Kharagpur were Accenture, Sony, Google, Microsoft, Apple, JP Morgan, Goldman Sachs, American Express, Airbus, PwC, L&T and Wipro. More than 200 companies participated in the first phase of the recruitment.

“On the closing of day one, we had received 400 plus offers which accumulated to 900 on day five and 1,000 on day eight, though the pandemic restricted some of the companies to offer more hiring numbers,” said professor A Rajakumar, Chairman, career development centre. IIT Kharagpur.

Last week the Indian economy snapped a contraction streak for two consecutive quarters and recorded for the October-December quarter a growth of 0.4%, a small but significant number that reiterated the signals that the economy was reviving after the torment of the pandemic.

Sectors such as construction, manufacturing and agriculture recorded positive growths pulling the economy out of the contraction territory.