McKinsey, Amazon, Deloitte — massive companies make massive hires from IIMs, pvt B-schools regardless of Covid

Students sitting on the lawns of IIM Ahmedabad (representational picture) | Facebook

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New Delhi: Business schools in India have posted record rankings this year, despite the fact that the economy has been hard hit due to the Covid-19 pandemic in 2020.

above management Both private and government schools, including the prestigious Indian Institutes of Management (IIMs), have hired some of the largest recruitment agencies such as Deloitte, KPMG, McKinsey, and the Boston Consulting Group. offers them an average annual salary of up to Rs 28 lakh.

Market experts said that increased rankings are an indicator of an “emerging market” and that companies are now “making up for any hiring they didn’t make in 2020”.

They also said the government’s big push to privatize in the 2021 budget largely allied private sector fears.

Internships at IIMs

IIM-Kozhikode witnessed 100 percent internships for all 459 students who participated in the internship process. This is an increase of 4.6 percent over the previous year, the institute said in a statement released last week.

“2020-21 will be a year of true achievements in the 25-year history of IIM-Kozhikode,” Professor Debashis Chatterjee, director of IIM-Kozhikode, said in the statement.

The Average salary The offer to the students of the institute was 22.5 lakh per year. Nearly 50 percent of students received an average CTC of 28.9 lakh per year – an 8.1 percent increase over the previous year.

The institute’s key recruiters included Accenture Strategy, Amazon, American Express, Asian Paints, Bain & Co., Bajaj Auto, Boston Consulting Group, Capgemini, Cognizant Business Consulting, Citi Bank, Deloitte, Deutsche Bank, Everest Industries, EY, Flipkart, Goldman Sachs, HSBC, JP Morgan Chase & Co, Microsoft, Nomura, Pidilite, PwC, Reliance, RPG, Samsung, TAS and TATA Sky.

At IIM-Bangalore, a total of 481 vacancies for the PGP class (Postgraduate Program in Management) from 2019-21 were made over two days.

All the 435 students who showed up for the interviews were successfully placed, the institute said in a statement released earlier this week.

“Our students did remarkably well. They were recruited by reputable companies despite Covid-19 disruptions, “Professor U. Dinesh Kumar, chairman of Career Development Services at IIM-Bangalore, said in a statement.

The institute’s top recruiters included McKinsey & Company, Boston Consulting Group, Kearney, PwC, Tata Consultancy Services, Alvarez & Marsal, Arthur D. Little, IBM Consulting, EY-Parthenon, KPMG, Ernst & Young, and Deloitte.

The first cluster of the final mediation process for the PGP class of 2021 took place in IIM-Ahmedabad on Wednesday.

One of the top recruiters was the Boston Consulting Group, which made the most offers (including pre-placement offers) with 32, closely followed by McKinsey with 30.

“IIM-A has always had an extremely rich mix of companies from different sectors. Consulting firms offering management consulting functions in various regions (including the Middle East) continue to hire in large numbers. This strengthens the strength of the general management program at IIM-A, ”said a statement from the institute published on Wednesday.

IIM-Calcutta also posted a record 100 percent placement for its flagship MBA program.

The mediation season ended on March 3rd, according to a statement from the institute on Friday.

“467 students took part in the process and received more than 520 offers in three clusters comprising different cohorts. The entire mediation process was practically carried out in the middle of the pandemic. A total of 172 companies participated in the final mediation process, ”added the statement.

Also read: Indian startups are working with jobs for IIT graduates who lost large offers after Covid

Internships at private B schools

The Xavier School of Management-XLRI achieved a 100 percent placement among the private B schools this year.

A spokesman for the institute told ThePrint that the average salary offered had increased from 24.30 lakh per year in 2020 to 25.08 lakh per year.

“We are pleased to announce that despite the pandemic and its adverse impact on the global economy, XLRI has achieved 100 percent rankings in a record period this year. We attribute the excellent internships as confirmation from the corporate world for the highly relevant, management-oriented training that we would like to offer our employees Students year after year, ”PP Christie SJ, director of XLRI, said in a statement.

The Boston Consulting Group, Bain and Co., PwC, Accenture Strategy, Amazon, ITC and PayTM made the most offers among the regular recruiters.

New recruiters included companies such as Mastercard, DE Shaw, Airbnb, DBS Bank, Nykaa, Freshworks, ZS Associates, Tata Electronics, ProgCap, Rebel Foods, and IDFC Bank.

The SP Jain School of Global Management, which has offices in India and abroad, also said their placement rate was very good.

The highest bid for the Global MBA class was 43.9 lakh while the average annual salary was 22 lakh. The program is aimed at professionals with more than three years of experience.

The institute’s top recruiters included companies such as Aramex, Bayer, Cedar Consulting, Cognizant, Dabur, Danzas, E&Y, Emerson, Frost & Sullivan, and Genpact.

Also read: What slowdown? The IIT mediation campaign starts with more vacancies and higher salaries in 2019

“Industry wants to catch up on lost business”

Kamal Karanth, founder of Bengaluru-based specialist human resources company Xpheno, believes the increased rankings are an indicator of an “emerging market”.

“Companies believe there is a pent-up demand that will materialize and they want to be prepared for it when it hits the market. Most of the demand for recruitment is coming from the technology sector, where consumption has been high, but FMCG companies are currently in demand and expect better growth, ”he told ThePrint.

“These companies are now also making up for any hires they didn’t make in 2020. In fact, banking firms and NBFCs have seen better demand in the past two months as well,” he said.

professor However, Amit Karna, chairman for internships at IIM-Ahmedabad, said that internships at premium B-schools cannot be the barometer for all B-schools across the country.

“Premium B schools across the country have no recruitment problems despite social or economic challenges. What is important is the attitude of the recruiter in such situations, ”he said.

“If a large company that typically employed 20 premium college students and 60 middle B school students can change their behavior this year due to the pandemic. They will eat less, but they will eat healthily, in the sense that they will only hire 50 students in total, but only from the top institutes. This has a direct impact on the number of middle B school internships, ”he said.

Karna said recruiters are also “skeptical about the quality of education due to hybrid learning and the shift to virtual media” because of the pandemic.

“They will only go to places that reassure them that investments have been made to ensure quality education,” he added.

However, both Karanth and Karna agreed how the privatization push in the 2021 budget eased concerns among private companies.

“Once privatization takes place, large companies need consultants to make the change in a former public company. So they are very keen to hire quality consultants immediately, ”said Karna.

Narayanan Ramaswamy, Partner and Sector Leader, Education and Skills Development, KPMG, said good referral numbers are a sign of a recovering economy.

“The industry is eager to recover and catch up on the lost business. It’s good to see that the demand for management resources is so high that recruitment will increase across functions. “

Speaking of the budget privatization push, Ramaswamy said, “Privatization would take more time to take effect. This recruitment cycle needs to be more responsive to the surge in demand to offset the nearly year-long freeze on spending and investment. “

Also read: How IIT alumni ensured a good start to the placement season in the pandemic year

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