Bangalore: It is boom time for students of Indian Institute of Management, Bangalore this year, with a record 70 Pre-Placement Offers (PPOs) having been made for a batch of 250 students.
The offers, the highest across all IIMs in the country, come at a time when final campus placement, which usually takes place in March, is still six months away, IIM-B Placement Committee sources said.
Although PPO as a concept has been known for long, this year it has seen a significant rise in IIM-B. PPOs are offers for final placement made to the students based on their performance during the summer internship at a firm after the first year of MBA course.
Constultancy firms and investment banks form a major chunk of the recruiters.
Firms like McKinsey & Co, Boston Consulting Group (BCG), Bain & Co, A T Kearney and Triology have given PPOs to all summer interns they hired from IIM-B campus last year.
According to Rahul Jain, Principal, BCG, “Diversity among students of IIM-B is major contributing factor to this.” "We have been associated with IIM-B since the last seven years and our experience has always been fantastic.The quality and diversity of students is truely exceptional. Our involvement in the summer programme for the last two years has been very fruitful, with every IIM-B student so far receiving a final offer,” he said.
Investment banks too have made offers for final placements to a number of interns from the IIM-B. Firms like Goldman Sachs, Lehman Brothers, Deutsche Bank, ABN AMRO, HSBC, JP Morgan, Merrill Lynch, BNP Paribas, Barclays Capital, Citigroup have made final offers to their interns who have worked across locations like London, New York and Asia-Pacific, the sources said.
Not to be left behind, consumer product majors like HLL, P&G and Marico have offered final positions to the students after internship.
Many firms are still in the process of completing evaluation of candidates and the PPOs continue to pour in. The firms, sources say, are finding PPO route to final selection more useful as they get to take a closer look at the candidates during the summer internship.
AT Kearney Principal Vishal Kaushal said: “The summer internship process gives us an opportunity to evaluate interns rigorously... We are very pleased with the summer interns from IIM-B this year and have decided to extend PPOs to them.”
Deepak Bharti, who has got a PPO from Barclays Capital, London, said: "I've got the kind of work I always wanted to do. Barclays accord you responsibility and do not treat you like an intern.”
For Gautam Gurnani, who has received an offer from Goldman Sachs, London, "it is a dream come true as I always aspired to be a part of the firms which is a brand in itself. Not just the work, even the work culture there is fantastic.”
Rishabh Goel, who has a PPO from BCG for their Mumbai office, feels “PPO is a recognition of your performance and your abilities. This give us freedom to try out different things in our second year of MBA.”
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