IIM-Indore Joins External Agencies For Placements

Indian Institutes of Management (IIM), have a legacy of using their brand name for placing their students in top notch companies every year. But due to the market slowdown, this year the companies have declined the number of placement offers which has compelled these institutes to seek external help.

IIM – Indore which was established in the year 1996 is now planning to join hands with some placement consultancies in order to ensure that all 450 students of the batch 2010-12 get placed. Most of the other IIM's are expected to follow IIM-Indore for placing their students. The market slowdown may also have impact on the placements at Tier 2 and Tier 3 Business Schools.

The final placements at IIM-I is expected to start in February with nearly 60 recruiters visiting the campus. The average salary offered in 2011 was about 14 lakh which was 27% higher than that offered in 2010. The agencies partnering with IIM-I for placements are expected to act independently of IIM-I placement cell and will extend opportunities to the students apart from the regular pool of recruiters.

The Market slowdown in-turn may affect the average salary, hence the placement agencies will be conducting a parallel placement process in the institutes, once they receive a specific number of offers from their regular placement process.

The officials have announced that for a large batch size where 450 is the biggest among all the IIMs to be placed, the average salary package is expected to get affected. This is because, the quality of job offers both in terms of roles and salary packages that declines down towards the end of the placement season. So the placement consultancies will help the institutes in bridging the gap for the last 100 to 150 students.