Placement Scenario- 2009

Placement scene at numerous business schools definitely had a different color this time. Blame it on recession or collapse of some of the highest paying financial giants but most of the top colleges witnessed a drop or two in the average salary received. The situation of private enterprises can be summed up one word; cautious. So who takes the cake this year and who hogs the limelight? Well, the good, old Indian PSUs and government banks have provided that much needed support to the final placement at India’s premier colleges. For example, PSU recruited more than 65 students in the just concluded campus placement at IIM Lucknow. If we compare this figure to last few years then that’s definitely a giant leap as far as numbers are concerned.

Indian public sector units (PSUs) and especially ‘Navratnas’ have played a savior act in this year’s placement. Companies like SAIL, BHEL, ONGC, Coal India, SIDBI, NTPC, GAIL, Union Bank of India and Bank of Baroda etc have played a crucial role in selecting bright students from reputed management schools.

Compare the situation with last year when just a handful of PSU visited campus and they too returned empty-handed because of lack of interest shown by students. In one year, everything has changed. Now students are opting for job security than fancy pay packages and glamorous locations. One distinct change was that, very few students even at IIMs, got multiple offers. Few students also opted out of placement to start their own ventures. Overall, things have been better than what was expected.

IIM-B - Placement

This year placement scenario has been less than impressive. Unlike other years, hype normally associated with IIM placement was definitely missing. If we talk about statistics, total 97 companies participated in IIM-Bangalore placement season and all of 250 students got placed. Every year placements taking place at India’s premier institutes IIMs generated lot of hype and hoopla but this time scenario was slightly different and quite.

Because of economic recession and doomed fate of some of the top notch financial giants, placement was expected to be low profile. However, the point of concern was how IIMs would fare. Tier-II colleges were expected to face hard times. The big change witnessed this year was increased participation of public sector enterprises instead of regular private sector giants. Talking about IIM-B placement, it was never a question of how many students will be placed. Rather, the question weighing on everyone’s mind were what will be the average salary offered and how many offered students get.

Unlike previous years, this time participating companies dictated the terms and students also preferred to join an Indian firm in the country rather than going abroad. Last year the number of participating companies was 66 whereas this time the figure notched 97 because of the extra precaution taken by placement committee. Officially, there is no mention of average salary offered but sources reveal it has significantly come down. Investment banks were expectedly absent this time around. Sector wise, 25 percent of the batch landed jobs in consulting firms followed by 29 percent in financial firms and 16 percent in marketing. Overall despite the downturn prevailing all around, things were not that bad.

Thing to Do During the Interview

• Maintain your focus and get rid of all the worries roaming in your mind.
• Make sure to smile at opportune time and not unnecessarily.
• Never ever get indulged in rambling ragas. The panel wants answers to the point and you must aim to provide that.
• Don’t make the mistake of keeping your phone on. It is recommended to switch off your cell before interview starts.
• It pays to be expressive. Candidates with stammering or mumbling nature tend to have slim chances so better try to talk in a slow but crisp manner.
• Eye contact is very important factor because it shows your confidence level.
• Arguments should be avoided. Polite responses are expected and appreciated.
• Successful candidates also try to remain forthright and direct. Beating around the bush won’t fetch you good results.
• Make sure to introduce yourself clearly. Better to state clearly your first and last name.
• Before answering the question, take your own time to understand the question properly.
• The panel does not look at your speed while you reply rather its about how effectively you reply.
• Don’t ever lie in an interview. It’s a fundamental truth that must be followed.
• There are few times when you don’t know the answer so instead of making any wild guess, better admit that you don’t know the answer.
• It’s a bad manner to badmouth or blame anyone during an interview.
• At the end of the interview, when you are asked to question, if any try to ask intelligent and relevant questions. Also make a point to express your keen desire in joining the job.