Excitement around India, fewer profiles in US & Europe prompt grads to work here
The placement report card of top B-schools in India shows them scoring poorly in one subject -international job offers.
Offers for foreign posts have dipped by 39% in IIM Bangalore and 40% in IIM Kozhikode.
Placement teams say the increased excitement around India and reduced US and Europe profiles have led to students opting to stay within the home turf.
“India is becoming a nerve centre for many companies. There were some cases where a student had a choice of two job locations; one abroad, and the student chose a domestic option,“ said Sankarshan Basu, chairperson, Career Development Services. “Also, no job offers have come in from Europe and that has also led to a decline,“ he added.
At IIM Bangalore, international offers have dropped from a high of 41 last year to 25 this time. In one of the prominent IIMs, Bank of America did not hire for their global postings this year. Two international firmsKadence International and NMC Healthcare that recruited nine students last year didn’t participate this year, said another IIM placement team member. They informed the campus that they did not have suitable requirements.
“The global economy is yet to pick up and those that hired last year would have realised that the market has not grown as fast as they had expected, so there is no aggressive hiring from India this time,“ said Rohin Kapoor, senior manager, Deloitte India who tracks the education sector.
Also, with India growing at 7.5% , opportunities to scale up or join startups is more in the domestic market. And given the competitive salaries offered, students will let go of global posts, added Kapoor.
At IIM Kozhikode, international offers have gone down from 25 to 15.AF Mathew, chairperson -placements said that there were firms which had decided not to recruit. “A couple of others showed interest but by the time they came, everybody on campus was already placed.“
“Global teams prefer to hire locally or have a job transfer from India than come to college campus for that one odd student,“ a placement team member of IIM Indore said. “Getting visa clearances and costs incurred are not worth all the trouble.“ The college managed to get five international offers, the same as last year.
Others including IIM Lucknow, XLRI, IIM Indore and MDI have managed to maintain status quo.Companies that have offered international placements in top B schools of India include Aditya Birla Group, Godrej Industries and Allied Companies, Avnash Group & Dott Test for roles in general management, HR and operations.
IIM Calcutta is on its final leg of placements and IIM Ahmedabad has just started. Offers for foreign posts are likely to be lower here too.
Source : The Economics Times
Date : 18th Feb 2015