As the Indian Institute of Management-Lucknow (IIM-L) is all set to begin its summer placements from November 7, the possible impact of the global financial crisis looms large on the campus. The 320 students who await summer placements are ready for fewer offers. Some think the institute will be lucky if half the usual crop of multinational companies come back. For others, it is a wait and watch situation. The IIM-L administration, however, is not sitting idle. According to sources, the institute will wait for a few more days to see if too many companies drop out of the placement game. In which case, the institute will open doors companies disallowed earlier. “There are some companies, which only register their presence in the campus but do not make offers. We usually keep such companies out of the placement list. This time, we may allow them to take part in the placement procedure,” said a faculty member.Last year, around 285 students had received 424 summer placement offers. There was also a sudden spurt in international offers — 28 in 2007 from a dismal six of 2006.Apart from Lehman Brothers, companies like BNP Paribas Hong Kong, Citibank Hong Kong, Barclays Capital (London), Unilever (London), Proctor & Gamble, etc had made international offers. Prof Shushil Kumar, Chairman of the Placement cell at IIM-L, said: “The number of offers may be lower as compared to previous years. But nothing can be said as of now. The domestic companies may be the frontrunners this time. Things will be clear when the placement week begins from November 7.”The assurance by Merrill Lynch, a leading financial management company of the US to participate in the summer placements as promised earlier, has brought some hope to the students.“In the last few years, companies have started giving importance to summer placements. They also give preference to the same students during final placements. Thus, taking the right decision during this period will be crucial,” said a student, who has decided to take up a job in the finance sector, despite the downfall.
