‘No need for alarm’, IIM Bangalore quashes rumours on summer internships

'While we do not deny that job market activity is lowkey everywhere, we do not see a need for alarm,' IIM Bangalore spokesperson said.

The last date for enrollment is February 29. (File)

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Several reports took over the internet recently claiming that the Indian Institute of Management, Bangalore (IIM-B) has failed to place all students in summer internships. Reacting to these reports, IIM Bangalore told indianexpress.com that the process is still on and to say that 100 per cent students have not been placed this year would be wrong.

“This year, within the designated week, a little over 80% of the batch got summer internship offers. Due to some factors outside our control (tight job market, proximity to Diwali, etc), we had to extend the summer selection process beyond the designated week,” a spokesperson said, adding that the institute still has a couple of weeks left for the summer internship placement process.

The current IIM batch has 600 students — which the institute claims is the largest across the older IIMs — and the intake went up by 75 students this year, the institute informed. Out of these, 490 students have already been placed by 160 companies in the first three days.

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Also read | IIM Ahmedabad concludes summer placement in a day; 45 students placed

“There was a Diwali break and many companies requested to resume it after the festival because interview panels were unavailable. While we do not deny that job market activity is lowkey everywhere, we do not see a need for alarm,” the spokesperson informed.

“Our students’ capability in the market’s eyes remains as strong as ever, even in the face of a perceived slump in the global market. The placement process has now resumed with marquee companies offering high-quality internship offers to our students. We should be able to complete the process soon,” IIM Bangalore said.

The institute has had several sectors and companies involved in this process such as manufacturing, retail, services, finance, pharma, product and technology firms, FMCG, real estate etcc

In 2022, the institute had achieved a 100 per cent internship placement record with a total of 233 offers were made by consulting companies, followed by 73 offers by companies in the finance domain.

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Even in the summer placements conducted for the PGP and PGP-BA Class of 2021-23, 542 offers were made to 513 students. All students who appeared for placements were hired in the two days placement drive. A year before that during the pandemic year of 2020, 139 firms recruited for 194 roles with 529 offers. Even though the whole process was conducted online, all 525 students, including PGP and PGP BA students, were placed in less than a week of starting the process.

The tradition has been long in the history of the institute as even in 2019, the institute had reported that all the 437 eligible two-year MBA students were recruited for summer placements by over a hundred companies making 446 offers during October 15-18, 2019.