New Delhi: It was celebration time for management students at the Indian School of Business (ISB) when the institution was ranked twentieth in the list of 100 Best Global Business Schools in January 2008.
But with the news of Lehman Brothers’ collapse, the party soon ran out of steam.
The investment bank has been one of the largest recruiters in the past and 15 per cent of the class of 2008 had offers from the financial services companies
ISB is not alone. Jobs with Investment banks have accounted for half the placements at various prestigious Indian business schools.
Lehman officials had rolled out pre-placement offers at Indian Institute of Management-Bangalore and IMT Ghaziabad.
And even though the offers have not been withdrawn so far, the report of investment bank filing for bankruptcy has left the students dejected.
They fear that their remuneration could be the first casualty of the crisis hitting the two most trusted brands — Lehman Brothers and Merrill Lynch.
Last year in IMT Ghaziabad, investment bank and financial sector were the highest paid — Rs 16 lakh per annum and Rs 30 lakh per annum for Indian and international placements respectively.
(With inputs from Varun Kumar)
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