With good pre-placement offers, institutes beat economy blues
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A difficult economy notwithstanding, good pre-placement offers (PPOs) across city institutes are an indication of a good hiring season ahead. Several academicians said big companies are increasingly relying on giving PPOs to students who have interned with them, as a route of hiring. Such offers can give an indication of how the recruitment season is likely to be.
At the Indian Institute of Technology (IIT) Bombay, the number and quality of PPOs are better than last year, said the institute. Around 1,600 students are part of the placement process at IIT Bombay this year. The PPOs have come from all sectors and final placement will start on December 1.
"Big names like Google and Microsoft have made offers. The trend is that companies are focusing on giving PPOs to students who have interned with them and have done a good job. They are probably looking at it as a more practical method of hiring good talent," said Avijit Chatterjee, professor-in-charge of placement at IIT Bombay. He, however, did not want to divulge the number of PPOs received so far.
At Narsee Monjee Institute of Management Studies (NMIMS), where lateral placements begin in December and final placements start from January, around 50 PPOs have been made so far. "The offers are looking good this year. We have received around 50, and 10 to 15 more are expected by November. The offers have come from top-notch financial, FMCG (fast moving consumer goods), manufacturing and pharma companies. It looks like the big companies are taking the PPO route to hire talent," said professor Debashis Sanyal, dean, School of Business Management, NMIMS.
Some institutes, however, said it is too early to predict how the final placements will be and whether the current financial condition will have any noticeable impact on campus recruitment. "Till October, the number of PPOs that have come in are on similar lines as last year. It seems companies are cautious in their hiring approach. But it is too early to predict how things will shape up as our final placement is in February 2013. However, the next three months will be crucial," said Ankit Rampuria, placement committee member at Jamnalal Bajaj Institute of Management Studies (JBIMS). He added that the salary structures offered are also on similar lines as last year. Around 20 per cent of the batch has received PPOs till date at JBIMS.
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