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'Slot zero' attracts finance firms at IIMs

By BS Reporter in Bangalore
November 12, 2008 13:53 IST
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Day one of "slot zero" - the most coveted slot assigned to recruiters - saw finance and consulting companies come to the Indian Institute of Management, Bangalore (IIM-B) campus despite concerns that there would be a slowdown in finance offers this year.

Nearly 50 Indian and 50 global conglomerates are expected to participate in the week-long process to place 280 Post Graduate Programme (PGP) students for a two-month summer training internship.

While investment banks have largely ruled the roost at IIMs in slot zero every year, this time more students are expected to turn to consulting, marketing, real estate, telecom, media, pharma and lifestyle on the back of global turmoil fears. Placement officials said they have invited companies from various verticals this year to ensure wider choices for students.

"The mood on the campus is upbeat. There is a global problem, no denying that, but we have told students not to be afraid. Recruiters have been positive. New international recruiters from the Middle East have confirmed their participation in the summer placement process this year," said Sourav Mukherjee, chairperson of placement at IIM-B.

Placement officials said even if some companies make fewer offers, students are unlikely to face problems because a higher number of companies have been invited this year. Aditya Kashyap, a student at the institute, said day zero saw companies from finance, consulting, marketing and general management, among others, visiting the campus.

Along with the PGP students, the institute's 30 doctoral students are also expected to participate in the summer placement process. The students would be looking to take up research-based projects with companies working in their field of speciality, said Kashyap.

Last year 249 students had taken up summer placements, and more than 50 per cent of students were placed on slot zero. 110 students had taken up international summer internships. Major recruiters then included the now extinct Lehman Brothers, JP Morgan, Goldman Sachs and consulting firms like Bain & Co, Boston Consulting Group, McKinsey & Co and AT Kearney.

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BS Reporter in Bangalore
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