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Recruiters okay IIM-A’s placement revamp (View Comments)
Team ET
Posted On Monday, February 08, 2010 at 11:57:41 AM
The all-important meeting between IIM-A top brass and leading companies held on Tuesday in Mumbai to decide on the contours of the new placement process saw top recruiters accepting most of the proposals, but not without apprehensions.
The major proposals included a cluster approach that will see sectors being clubbed together, instead of companies offering highest salaries while getting the campus invite. Thus, according to the new proposal, companies from the same sector would be called together. The IIM-A, in its proposal, tried to drive home the point that the focus was on better careers, not just salaries, while suggesting the sector approach. The institute, however, did not officially comment on the outcome of the meeting that is likely to lead to changes in the placements at other IIMs as well.
ET on Monday had reported that the IIM-A would revamp the placement process.
Tuesday’s meeting was attended by major recruiters, including McKinsey, Merrill Lynch, ICICI, Deloitte and AT Kearney. The number of firms present at the meeting was put at around 40.
The new process would see the placement season extending over several weeks, a major departure from the earlier pattern where the process would typically end within 5-7 days.
IIM-A recruiters to get around three days in campus
Importantly, each company would get around two to three days to finalise the candidates. Earlier, a company would get just one day.
While the recruiters, major stakeholders in the placements, viewed the suggestions as a “noble idea”, they were unsure of its implementation. One of the recruiters ET spoke to said: “Students would still lay emphasis on salaries.” IIM-A officials said the recruiters received the proposal “very well”.
While the institute officials are yet to disclose the details of the new placement system, they maintained the ‘Day process’, in which the first day is attended by top IIM-A recruiters according to students’ choice, including investment banks and consulting firms that pay lucrative salaries and positions, will be done away with and the process will be extended to many days to fit in the right candidate to the right job.
“The meeting went off well, and the recruiters have agreed to the proposed changes made in the placement process. It was attended by a large number of firms that are regular recruiters at IIM-A campus,” said IIM-A placement team head Himanshu Nema.
IIM-A placement chairperson Saral Mukherjee had earlier said the new placement system was necessary as the number of students had increased manifold and the Day system did not allow for a right match between the students and the recruiters. Under the current system, recruiters offering big bucks get the largest talent pool to choose from. Thus, while investment banks and consulting firms get the first invite for the prestigious Day Zero slot, others have to be content with the subsequent days.
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