Future Biz Leaders See A Spurt In Overseas Hiring
The Indian Institute of Management (IIM-B) final year candidates, many of whom are geared up to be potential business leaders, are seeing a spurt in hiring by overseas firms. A recent report in Economic Times reads that the 2014 batch of post-graduate programme students at IIM Bangalore not only received 80-90 overseas offers but also a 15-20% increase in the average salary are offering. It was noted that students with a background in technology and those having prior work experience were given maximum preference by the overseas companies.
Most of the companies including Goldman Sachs, Bank of America, Deutsche Bank and Citi Bank are offering jobs in cities such as London, New York and Hong Kong from employers. The report notes that nearly 150 companies offered 425 jobs compared with last year’s 415 offers from the same number of companies. The average salary, too, rose this time by 15%-20% to Rs 19.5 lakh in IIM-B.
Sankarshan Basu, chairperson, career development services at IIM-B noted in the report that the roles offered are also better this year and people with experience have got some good profiles. The jump in salary was 21% in overseas offers from last year. In the consulting space, Accenture topped the list with 14 job offers, followed by McKinsey and the Boston Consulting Group with 10-12 offers each. BCG has increased its hiring from the IIMs, picking up 44 candidates this year compared with last year’s 42. Eleven of these candidates were from IIM-B.
“The IIMs are a very important source of top talent for our business in India. We continue to recruit in large numbers from these institutes to fuel our growth,” said Suresh Subudhi, partner & director, BCG India to ET. The company has made 44 offers across IIM A, B, C and L and continues to be the top preference for most students wishing to pursue a career in a global consulting firm.”
In the telecom sector, Vodafone was one of the biggest recruiters with 10-12 offers. Meanwhile at IIM Ahmedabad, the second cluster of the final placement process saw participation of companies from six sectors: consumer goods, consumer services, global technology firms, general management and leadership, strategy and niche consulting and banking and financial services. It is also riding on a rising number of offers from investment banks, global strategy consulting and private equity firms, with students seeing a higher number of international offers. The situation has improved from last year, where overseas placements the country’s top most B school, dropped by 65%.
Companies such as Amazon, EXL and Reliance Industries had made a number of offers each to these institutes, according to a statement issued by the institute.
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