Indian Institute of Management (IIM) is hit by the economic meltdown. One of the top business schools in Asia, every year, major national and international firms come to hire employees from the seven IIM campuses in
Here are some facts about IIM Placement 2009:
- Traditionally, the IIM placement process goes on for a week. For economic downturn, the placement process has been extended to nine days this year. This is the longest placement process in the institution’s history in the last five years. This year, the placement process at IIM started on 27, February 2009. In 2007, the placement was over in two-and-half days.
- This year, 109 business firms participated in the placement process. In the placement process, 95 firms recruited in the final placement process. Most of these firms are Indian.
- This year, the average salary offered by domestic firms this year is Rs.1.21 million and $83000 (excluding bonus) by the international firms. This is a huge decrease compared to 2007. The average salaries offered by domestic firms in 2007 was
- Rs 1.78 million per year. For international firms the average was Rs 60 lakh.
- This year, salary packets more than Rs.10 million was limited to IIM-Ahmedabad campus.
- This year, large number of students went into public sector banks. The Union Bank of
was the top recruiter of 2009 with 18 acceptances followed by Bank of Baroda. India
- Financial firms were the top employers of 2009 with an acceptance rate of 39% followed by consulting at 24%, marketing at 13%, general management at 9%, systems at 6%, and others were at 6%. The highest number of offers were made by the United Bank of
- This year, some of the IIM students went to work in movie production houses and NGOs. Two IIM students went to work with Kavithalaya Production, a South-Indian production house.
- About ten students decided to start their own business.
(This entry was originally published in March 2009)