The economic impact of Covid-19 has affected placements across the country resulting in fewer placements. Most of the offers this year came from IT and E-commerce which remained largely unaffected by the pandemic.
In Maharashtra, hundreds of students missed the chance to secure a summer placement because of a delay in MBA and MMS courses due to an extension in the CET registration process.
A spokesperson from the placement cell of Jamnalal Bajaj Institute of Management Studies (JBIMS) said, “Our summer placement interviews usually take place between October and November every year but this year, the state CET cell postponing admissions to MBA courses meant no first-year batch. So no summer placement interviews have been conducted as yet and the final placements too are being pushed to January-February,”
In the institute, the highest packages offered to a student from the junior batch was INR 5.5. Lakh last year. As for the final year placements, many colleges feel that the situation is worse than in 2019.
Professor and Head of the department at Sydenham Institute of Management Studies, Research, and Entrepreneurship Education (SIMSREE), Dr. RK Srivastava said that the institute has maintained good relation with its recruiters which is why they came back for placements.
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However, he feels that the economic slowdown has affected the recruitment rates across the states and universities. Around 60% of the students have already found placements in SIMSREE and the drives are scheduled to go on till the middle of next year.
Srivastava said that the IT and Banking sectors did well in the lockdown and the students from these sectors were able to secure maximum offers. Regrettably, pharmaceuticals and manufacturing sectors were the most affected, and the offer to students in these segments have been low.
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The Indian Institutes of Management (IIMs) completed summer placements and while their numbers were comparable to 2019, the number of offers from IT and Ecommerce were higher than traditional sectors.
Students of IIM Kozhikode received 100% summer placements and many front-end investment banking and private equity/venture capitalists and E-commerce companies participated in the placement. Offers in these sectors were twice the number of offers in 2019.
A total of 144 companies hired 541 students in IIM Kozhikode with the highest offers being INR 3.2 lakh for 2 months which is the same as that of last year. IIM Ahemdabad too concluded its summer placements and is now preparing for final placements in February 2021.
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Chairperson(Placements) at IIM Ahmedabad, Prof Amit Karna said, “Every year around 130-150 recruiters participate in each placement process of the two-year MBA course. This year too remains the same. We have seen more demand from our regular recruiter pool consisting of top tier firms across sectors. There has been more demand from internet and technology firms, presumably due to the strong demand for their services in the market.”
Experts are saying that only those sectors that have benefited from the pandemic are offering placements. Rituparna Chakraborty, co-founder and executive vice-president of TeamLease Services Ltd said that campus placements were reflective of the economic sentiment in the country.
She said that sectors who benefited from the pandemic are recovering more quickly and have a clearer future while traditional sectors have taken a backseat in placements this year.
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