Muted Start to IIM-A Placements Consulting firms made the biggest catch again, but euphoria missing

Consulting dominated the first cluster of the final placements at IIM-Ahmedabad, scooping up the crème de la crème of talent, even though there was a conspicuous absence of euphoria. Among investment banks, Goldman Sachs made three offers, including one around . 60 lakh with a fixed component of . 35 lakh, to a student for its Bangalore office, according to campus sources.
Among the consulting firms, Boston Consulting Group (BCG) hired five grads on Sunday, becoming the top recruiter so far on the campus with a total of 15 offers, including pre-placement offers (PPOs), against 17 last year. McKinsey & Co recruited four students. Monitor Group hired five students; AT Kearney and Oliver Wymen three each; and Bain & Co picked up two. Accenture also hired, though the numbers were not available. These firms offered higher salaries compared with last year, with most offering a 10-15% increase. The packages in the consulting sector are in the range of . 20-25 lakh for domestic locations. A senior IIM-A faculty said consulting will dominate this year’s placements like last year.
“We have continued to hire students in double digits from IIM-A. We made offers for Mumbai, Chennai and Delhi in roles like management consultants to students in sectors like automotives and financial services. We have hiked salaries compared with last year,” said a BCG official without divulging the details of the hikes.
According to sources, investment banks hired in small numbers at less than three offers each, with some hiring just one student each. Deutsche Bank Global Markets Centre also hired grads from IIM-A. As reported earlier, IIM-A has received at least two PPOs exceeding . 1 crore.
The campus had more investment banks making offers this time around than last year. Offers in Line with Last Year 
While it was JPMorgan, Credit Suisse, HSBC and RBS last year, Goldman Sachs, Citigroup, Deutsche Bank, Morgan Stanley and Barclays have made offers this year. According to sources, the offers were more or less in line with last year. The number of PPOs from the finance sector is less than last year and that will have an impact on the total number of offers, said a source.
Close to 20 companies from finance and consulting participated in the first cluster on Saturday and Sunday. In the first cluster, some 50-60 students got placed against 70-odd last year, mainly because of lower number of offers from consulting firms.
Around 380 students from the 2011-13 batch of the Post Graduate Programme in Management (PGP) are participating in the placement process spread over four weekends. The companies that visited the campus as part of cluster 1 comprised four cohorts — global strategy consulting, international investment banks, general management leadership programs and investment management firms — said an IIM-A release.
The institute will organise the second cluster over the next weekend where FMCG companies would pick up students for roles in sales and marketing. Sales and marketing are expected to dominate placements, second to consulting, say sources

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