Placements in top institutes lack pace as edgy corporates play it safe

The uncertain economic outlook has apparently begun to hurt the recruitment of graduates from institutions in the city,with corporates becoming cautious about hiring.

Written by Mihika Basu
Mumbai | November 3, 2011 03:18 AM IST

3 min read

The uncertain economic outlook has apparently begun to hurt the recruitment of graduates from institutions in the city,with corporates becoming cautious about hiring. While some institutions said the number of placements and salaries offered have been relatively poor this year,others said it was tough to predict if such a trend would hold through the placement season.

At the Narsee Monjee Institute of Management Studies (NMIMS),where lateral placements begin in December and final placements commence from January,25 pre-placement offers (PPOs) have been made so far. The bulk of PPOs are expected during November-December. The finance companies are yet to take a position on recruitment. However,traditional companies have confirmed their visit to the NMIMS campus. The institute is keeping a close watch on the market, said Professor Debashis Sanyal,dean,School of Business Management,NMIMS.

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At the Indian Institute of Technology (IIT),Bombay,the number of quality PPOs have not been good compared to last year. In 2010,while students had more PPOs over previous years,the number of offers per company and salaries being offered had also gone up. This year,the number of good quality PPOs,which are also sufficiently high-paying,is meager compared to last year. Owing to an unsettled economic scenario,many companies are not very sure about their recruitment plans. We are trying to understand how their hiring plans are changing, said Ravi Sinha,professor-in-charge,placement,IIT Bombay. While various companies start visiting the Powai campus August onwards,the formal interviews start from December.

Some institutes said it is too early to predict how the final placements will be and whether the current economic condition will have any significant impact on it. We recently concluded successful summer placements against a difficult economy and the scenario looks positive. Final placements start in February. The numbers (PPOs) are looking good,but it is too soon to say whether it will be similar to the numbers last year or whether it will exceed, said Ankit Rampuria,JBIMS placement committee member.

The institute,however,did not give the exact number of PPOs received so far. Last year,it had received PPOs and pre-placement interviews for 30 students by the first week of November.

At SP Jain Institute of Management & Research (SPJIMR),while second-year students come back from autumn placements by the first week of November,final placements start from February 2012. The autumn placements went well and there was no indication that companies are slowing down (hiring plans). But the economic situation is tough and some companies are following a wait and watch policy. We will know how the situation is emerging by mid-December, said Abbasali Gabula,deputy director of external relations and administration,SPJIMR.