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ShareAhmedabad: The summer of 2009 has brought very good news for the batch of 2011 of the Indian Institute of Management, Ahmedabad, as its placement process concluded on Thursday. If the placement outcome of this premium B-school campus is any indicator of the health of the economy, then the news is "unexpectedly pleasant".
The golden boys' stipends are yet again believed to have crossed the Rs 12.5 lakh mark of the previous years. Though no official confirmation was forthcoming, reliable sources at the institute said several students have been given million plus stipends, the highest being in the range of Rs12-12.5 lakh for a period of two months.
Investment banks (I-banks) are back with an unprecedented aggression with more than double the acceptances than last year -- up from 35 to 77. International offers are back in vogue, along with some cautious optimism for the final placements next March. With 76 international acceptances, almost a quarter of the batch is going overseas.
"While we expected the pendulum to swing, we did not expect it to swing back so fast, or so far," a statement from the institute said.
Chairperson of the Placement Committee, Prof. Saral Mukherjee, said, "We had not expected such a drastic upturn; the summer placements have come as a pleasant surprise to us. However, this may not necessarily translate into increased final placement hiring as often summer placements serve a different need of the recruiter. We are upgrading our expectation of the final placements to one of cautious optimism."
The largest batch of the post-graduate programme (PGP) students in the history of IIM-A (312) has been placed in the shortest time in recent history -- a record four days. "This phenomenon would have seemed impossible a couple of months back in the midst of the global financial meltdown," the statement concedes.
