Placement’s are a big thing at IIM-Ahmedabad,and that is why students not registering for the same are said to have done an OOPS (short for Opting out of the Placement System.)
IIM-A has broken away from the conventional process of placement week. Last year,it formulated and used a cohort-based process. Companies looking for similar talents and with similar roles to offer are clubbed into cohorts and invited the campus in a group over a weekend. Though the process takes longer,students and recruiters are less stressed as they know which set of companies or students they want to court. IIM-A has now extended the process to summer placements too. Others IIMs are keeping a tab on the system though none have adopted it yet.
DIFFERENT PLACEMENTS FOR DIFFERENT STUDENTS
There are placement processes for different types of students attending different kinds of courses at IIM-A.
The summer placements and final placements are for the Post-Graduate Program (PGP) in Management made up of mostly students who have no work experience.
But this also hosts students with prior work experience,and these are placed on lateral placements. The students get mid-level jobs. In the batch that passed out last year,53 per cent had work experience of 18 months or more and were eligible for lateral placements.
In the summer placements held during winter,students do not get jobs but internship opportunities in the summer holidays that fall between the first and second years of their program.
Students in the institutes PGP- Agro Business Management (ABM) are also accommodated in the same placement processes as PGPM students. PGPX (a management program for executives) and PGP PMP (Public Management and Policy) follows a rolling system of placements,unlike the fixed duration process used for PGP and PGP-ABM students.
WHAT KIND OF JOBS SELL AT IIM-A,AND how they have changed More and more students are taking general management,systems and marketing jobs,and fewer are taking finance,unlike in 2007 when a whopping 40 percent of the flagship programs batch took finance jobs. In 2010,finance remained the second-most favoured avenue after marketing. The demand for consulting jobs has been fairly stable,although with slight variations over the years. Students who have had work experiences before joining IIM-A,have tended to lean towards IT and Information Technology Enabled Services (ITES) 29 per cent of the 2008-09 PGPX batch opted for jobs in this sector,and an astounding 58 per cent in 2009-10.
Finance drew than a tenth of these students in the last two batches. Demand for jobs in conglomerates and infrastructure firms have dwindled further,and healthcare and telecommunications dropped to zero takers.
SET UP YOUR OWN VENTURE,ANYONE?
The number of students opting for entrepreneurship have seen a decline. From five in 2007,it came down to one in 2010. The institute,however,said five students did an OOPS to start their own ventures last year.
Incidentally,IIM-A has set up an incubation centre for start-ups which is becoming more and more well-known,and is introducing more and more avenues and sectors in its fold. The IIM-A placements committee had also hosted an Entrepreneurship Fair last winter,inviting students and start-up firms to a forum for discussing business ideas. Three alumni-entrepreneurs had also returned to their alma-mater and recruited pass-outs.
The older and more-experienced students from PGPX seem to be more entrepreneurial in spirit: at least 12 PGPX students from the last two previous batches have set up their own companies (In the 2009-10 batch,five had already set up their own ventures by March,with three more following suit by July).
WHAT KIND OF FIRMS COME TO IIM-A?
Indian and foreign firms that recruit from IIM-A are among the top in their league. Last year,Indian firms offered PGP students an average annual salary of Rs 14,94,000 while foreign ones offered 1,10,750 dollars. Deloitte Consulting,Cognizant,Phillips,Mckinsey & Co,Goldman Sachs,Deutsche Bank,NTPC,Union Bank of India and ITC were some of the firms that recruited from the campus. Last December, IIM-A director,placements chairperson and students from the placements committee had attended a recruiters conclave in Singapore to engage and reach out to global recruiters.
WHAT DOES IIM-A GET FROM ItS PLACEMENTS?
Indian companies pay up to Rs 1.5 lakh to visit the campus and up to Rs 75,000 for each recruitment. Foreign firms pay up to 3,500 dollars towards participation and up to 5,000 dollars for each recruitment.