Placements in top institutes lack pace as edgy corporates play it safe
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The uncertain economic outlook has apparently begun to hurt the recruitment of graduates from institutions in the city, with corporates becoming cautious about hiring. While some institutions said the number of placements and salaries offered have been relatively poor this year, others said it was tough to predict if such a trend would hold through the placement season.
At the Narsee Monjee Institute of Management Studies (NMIMS), where lateral placements begin in December and final placements commence from January, 25 pre-placement offers (PPOs) have been made so far. "The bulk of PPOs are expected during November-December. The finance companies are yet to take a position on recruitment. However, traditional companies have confirmed their visit to the NMIMS campus. The institute is keeping a close watch on the market," said Professor Debashis Sanyal, dean, School of Business Management, NMIMS.
At the Indian Institute of Technology (IIT), Bombay, the number of quality PPOs have not been good compared to last year. In 2010, while students had more PPOs over previous years, the number of offers per company and salaries being offered had also gone up. "This year, the number of good quality PPOs, which are also sufficiently high-paying, is meager compared to last year. Owing to an unsettled economic scenario, many companies are not very sure about their recruitment plans. We are trying to understand how their hiring plans are changing," said Ravi Sinha, professor-in-charge, placement, IIT Bombay. While various companies start visiting the Powai campus August onwards, the formal interviews start from December.
Some institutes said it is too early to predict how the final placements will be and whether the current economic condition will have any significant impact on it. "We recently concluded successful summer placements against a difficult economy and the scenario looks positive. Final placements start in February. The numbers (PPOs) are looking good, but it is too soon to say whether it will be similar to the numbers last year or whether it will exceed," said Ankit Rampuria, JBIMS placement committee member.
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