Summer recruitment frenzy at IIMC

Mou Chakraborty
Kolkata, November 20
The Indian Institute of Management, Calcutta (IIMC) remained the most preferred destination amongst recruiters scouting across all the six IIMs and the best B-schools of the country to offer summer placements to students.
IIMC has managed to get its batch of 290 first-year students placed in a record four and half days. The students will work in various companies across the globe for two months between April and June next year as interns and also get paid. “Normally the IIMs need six days to complete its summer placements, but IIMC despite having the biggest batch size across all the IIMs has managed to place all its students in record time,” said Sarfaraz Khimani, external relations secretary of IIMC.
The students have been offered internships in diverse fields such as investment banking, consultancy, general management, private equity, and even economic research and advisory, normally reserved for highly qualified PhDs and economists. The reason behind the record time spent in recruitment is due to the fact that many top recruiters preferred them to students in IIM Ahmedabad and IIM Bangalore. The highest paying or slot zero companies recruited more students from IIMC than any other IIM. For example, Merill Lynch recruited 18 students from IIMC, while preferring 13 from IIMA.
According to reports coming in from the other IIMs, other slot zero companies who have recruited the highest number of students from IIMC include Morgan Stanley (11), JP Morgan Chase (13), HSBC Global (6), AT Kearney (5) and Mc Kinsey (8). Then there were firms, like Credit Suisse for example, which chose to recruit exclusively from IIMC, picking up 7 students.
“Summer placements is very important for students. At the end of the two-month internship, if the intern and recruiter like each other, the students get pre-placement offers from the company. It means that some already have jobs in the kitty before campus interviews begins. Last year 70 per cent students got pre-placement offers,” said Khimani.
Explaining why the business school was the fastest to place its students for summer internships, Khimani said, “The quality of students at IIMC this year is very good. This can be pointed out from the fact that out of the 10 prestigious Aditya Birla Scholarships given to students across all six IIMs based on academic record, CAT performance, group discussion and personal interview, five went to IIMC students.”
The highest offer made to a summer intern from IIMC this year is Rs 8.1 lakh. While over 140 students received international offers from slot zero companies in New York, London, Hong Kong, Singapore, South Africa, Turkey, Dubai and Kuwait, 110 of them accepted the offers. More than 58 per cent of these slot zero offers were made by international investment banks and 37 per cent by international consultancy firms. Last year 93 students from IIMC got slot zero summer placements.
Mou.Chakraborty@hindustantimes.com

Recruitment frenzy

Company Students recruited
IIM-C IIM-A IIM-B

Merill Lynch 18 13 10
JP Morgan Chase 13 NA 11
Morgan Stanley 11 NA 6
Credit Suisse 7 0 0
HSBC 6 0 5
Rothschild 2 1 2
AT Kearney 5 NA NA
McKinsey 8 NA 4

NA: data not available