YES bank emerges as largest recruiter at IIM Ranchi final placements 2012
| March 29,2012 09:39 pm IST
IIM Ranchi marked the successful completion of placements of its first batch graduating in 2012. The placement process for the batch of 43 students began in mid January and was conducted on a cohort basis.
The response from the industry was encouraging considering the tough economic scenario. The success of the placement process is primarily attributed to the performance of the students during summer internship and success at several company sponsored B school events. 5 students had received PPOs from several organizations before the process began and 1 was accepted.
The process saw participation from as many as 30 recruiters with 43 students being spoilt for choice with 65 offers. 39 companies had confirmed participation in the placement process with several of them hiring more than their planned intake. As many as 12 recruiters from the last two summer internship process reaffirmed faith in the students of IIM Ranchi during final placements as well. YES Bank made 6 offers, which was the highest number amongst the participating companies. 6 lateral offers were made to the batch in different sectors like telecom, banking and consulting.
As many as 4 international offers were made for roles in Middle East and Asia Pacific. The highest foreign salary offered was Rs 24 lakhs (cash components only) to two students for roles in Middle East. Additionally, the highest domestic salary of 23 lakhs per annum was offered by a financial services firm to two students. The average domestic salary for the batch stood at a whopping 13.23 lakhs with the media salary being 12.5 lakhs per annum. The minimum accepted offer in the placement process was of 8 lacs per annum.
IIM Ranchi continued to perform exceedingly well in Finance with its roots of IIM Calcutta as mentor.
The promising IIM excelled at finance despite the downturn in the financial market with close to half the batch (44.2%) opting for finance related roles.
Certain recruiters in the finance domain (domestic and MNC banks) recruited exclusively from IIM Ranchi amongst the new IIMs. A senior HR from a domestic bank quoted: We participated in the summer placement process for the first batch and our experience with the interns was very good.
Hence, we came back to recruit here in numbers despite low planned intake this year.
A boutique investment banking firm based out of Mumbai recruited in the final placements offering M&A roles. Another highlight was the enthusiastic participation of several companies in the banking sector. Roles offered in finance included investment banking, investment banking research, credit research, retail banking, corporate banking, mortgage services and economic research.
Prominent Recruiters: Citibank, HSBC, Ocwen Financial Services, ICICI Bank, YES Bank, HDFC Bank,ING Vysya Bank, Aranca, CARE Ratings, ICRA, UAE Exchange, Reserve Bank of India.
Marketing & Operations
Riding on the success of the summer placements 2011 wherein several top marketing companies participated, the final placements saw interesting roles in several sectors like FMCG, ecommerce, media, consumer durables, manufacturing, market research and pharmaceuticals. Roles in this domain were opted by 25.6 percent of the batch and included profiles like B2B marketing, business development, sales, brand management, market research etc.
The National Sales Head of a participating company in this domain and an alum of IIM-A quipped I was skeptic about the new IIMs but was pleasantly surprised after interacting with the first batch students here. Surely, IIM Ranchi has a great future ahead.
The domain saw participation from 7 new recruiters which offered roles to the students.
Prominent Recruiters: HT Media, Flipkart, Godrej & Boyce, Pfizer, Maruti, Tata Steel, United Spirits, Eveready Industries, Titan, Berger Paints, Cavinkare
IT & Consulting
With close to 50% having prior work experience, roles in IT & Consulting also attracted considerable interest. Ernst and Young offered roles for its Business Consulting division after participation in the last two summers process.
Prominent Recruiters: Ernst & Young, Sonata Software, Polaris, Actuate Management Consulting
General Management & HR
New recruiters dominated in this space with Jindal Steel & Power offering its Lead Management Trainee Program. With the commencement of the PGDHRM course next year, IIM Ranchi plans to attract more companies in this domain soon.
Prominent Recruiters: RPG Group, Jindal Steel & Power, Jaipur Rugs
Following are the highlights about the placement process:
Several recruiters in finance domain recruited exclusively from IIM Ranchi among the new IIMs
The average salary offered to the students was Rs 13.60 lakhs, median being 12.5 lakhs while maximum and minimum were 24 lakhs and 8 lakhs respectively.
Some niche profiles like Media Marketing and Strategic Development were offered to the students
3 students from the batch of 43 bagged international offers in Middle East and South East Asia
First final placements of iim ranchi excelled beyond expectations, given the tough economic times.
Not only everyone got an offer in their area of interest but grabbing 3 international offers is another feather in the cap of this budding institute. To facilitate a better interaction between industry and students, we opted for a cohort based system which was appreciated by the recruiters and other stakeholders said Kumar Abhishek, Secretary-Placement Committee.
- Batch Strength - 43
- Total companies confirming participation - 39
- Total companies participating - 30
- Total PPOs made/accepted- 5/1
- Total International placements - 3
- Average Salary - Rs 13.60 lakhs per annum
- Average Salary (Domestic only) - Rs 13.23 lakhs per annum
- Highest Salary (International) - Rs 24 lakhs per annum
- Highest Salary (Domestic) - Rs 23 lakhs per annum