Thursday, November 10, 2011

IIM- Kozhikode Placement 2011: Students get stipend of Rs 1.6 lakhs for two months

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In what seems like an offer that is too good to be true, two students from Indian Institute of Management, Kozhikode (IIM-K) have bagged a domestic stipend of Rs 1.6 lakhs each for a two-month long summer placement. These students will be placed in the Mumbai office of Australia-based investment bank Macquarie.

In 2010, the highest domestic stipend was Rs 1.2 lakh. There were also placements abroad whose stipend details were yet to be finalised. As per IIM-K placement officials, 60% of the 2011-2013 batch of 348 students got summer placements within a week of commencement of placements. This report has been a sigh of relief for B-school students who feared that their offers could get impacted by global economic slowdown. These students will be doing their summer jobs for two months during April-June 2012.

Reflecting the market trend, marketing firms picked up 40% of the students, followed by finance firms who took 30 per cent. Some popular marketing firms that recruited IIM-Kozhikode students in large number are Hindustan Unilever Limited, ITC limited and Marico. Students of finance field were picked up by American Express, Deutsche Bank, Citi Bank, and Goldman Sachs. Companies from other sectors, like general management, HR and consulting also visited the company.

Another prestigious company that was impressed by the quality of students and hence made maximum number of offers is Tata Administrative Services (TAS). This year, there were many new recruiters who had participated in the placements. The new recruiters constituted 20% of the total recruiters, almost double of last year. It seems the dramatic rise of IIM-K in the rankings by different agencies over the years has generated interest among the firms.


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