All students at IIM-L get jobs

Updated on: Tuesday, March 24, 2009

Lucknow: Despite the global economic meltdown the Indian Institute of Management-Lucknow (IIM-L) managed to find jobs for all its graduating students but with a dip in the salaries and fewer options to choose from, the institute said on March 21.

The public sector units (PSUs), once not the 'top choice' for students graduating from one of the premier B-schools in the country, offered placements to a record 65 students.

"Of the 235 students who opted for placements, 65 students were recruited by various PSUs. It's true PSUs gave us relief when everyone was worried about placements and feeling the heat of the global meltdown," Sushil Kumar, IIM-L Chairman of placements said.

Fourteen PSUs recruited from the institute, which is highest across all the IIMs. Last year only two PSUs visited the campus.

"Stability in the job and pay revisions in the PSUs were the two main reasons for students opting to work with them," said Kumar.

The PSUs that made the job offers include Oil and Natural Gas Corporation Limited (ONGC), Small Industries Development Bank of India (SIDBI), National Thermal Power Corporation (NTPC), Steel Authority of India Limited (SAIL), Gas Authority of India Limited (GAIL), Coal India, Bank of Baroda and Union Bank of India.

Out of the graduating batch, 25 students accepted the pre-placement offers extended to them, while seven students chose to start their own ventures, officials said.

Effects of the slowdown were evident in the IIM-L placements. This year there was a decline in the number of offers made by the companies, compared to last year.

"Last year we had 496 offers, but this year there were only 284 offers from different companies. Surely, it was the recession effect," said Kumar.

"Last year, the international placements were 32. That dipped to 15 this time."

The international offers came from firms such as Barclays Capital, Frost and Sullivan, Ernst and Young (Middle East) and Alshaya, he added.

In all 150 recruiters participated in the final placements. Of these, 50 companies recruited from IIM-L for the first time. "Though the number of entrants increased, the average requirement per company was fewer this time," said Kumar.

Companies that visited the campus for the first time included Jaypee Capital, Siva Ventures, L'Oreal, Tholons Consulting, Virgin Mobile, Religare Securities, Darashaw and Co, Allegro Advisors, Eli-Lily, Jindal Steel, Kellogg, Maersk and Bharti Telesoft, officials said.

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All students at IIM-L get jobs

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