IIPM set to beat economic slowdown

NEW DELHI: After setting new benchmarks in Bschool placements last year, the Indian Institute of Planning and Management (IIPM) has innovated to re-establish its superiority in placements in the current period of reduced growth.

Data shows that 1,500-plus students at IIPM have already been placed on campus while the result of about 200 post-campus interviews is awaited.

Over 450 companies have made recruitments in the current campus placement session. The average package so far has been Rs 4.2 lakh per annum which, though a fall from the last year’s average of Rs 5.2 lakh, is still fairly considerable especially in view of the current challenges. International placements currently stand at a commendable figure of 44.

This year was one of the most challenging years for B-school placements.

Salaries were either not increased from last year or decreased, with companies retracting certain benefits. Recruitments by the banking sector, which used to be largest recruiters at B-schools, have been very low.

Companies which visit campuses are recruiting fewer candidates than they did last year. Almost 20 percent of companies which put up requirements initially did not take the process further and made no offers.

IIPM additionally focused on the SME sector not just in metros, but in tier 2 and tier 3 cities, industrial towns and villages. With the SME sector generating good business in the current scenario, there was an increase in the recruiter base at the campus. IIPM also made a special effort to mentor and counsel students to increase the conversion ratio.

Skill-driven modules on retail banking and modules on consumer retailing and insurance were introduced.

IIPM’s placements cell, Strategic Management Group (SMG), engaged a larger number of companies than it did last year since the number of recruitments per company went down.

While last year around 600 companies recruited all 2,670 students who opted for placement, SMG is targeting around 950 companies this year and looks set to place all the approximately 2,600 students who have applied for placements this year.