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Mumbai scoops IIM-B cream

Most students are said to have taken up offers in financial services, investment banking, private equity and retail firms.

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BANGALORE: Mumbai-based firms are the favourites for students opting for a career in financial services. Around 45 firms, about 50 per cent of the recruiters, Mumbai-based firms took-away most talent from Indian Institute of Management, Bangalore (IIM-B) this academic year. Most students are said to have taken up offers in financial services, investment banking, private equity and retail firms.

McKinsey & Co, Bains & Co are among the Mumbai-headquarterd companies who have hired the cream of talent. The final placements at IIM-B for the year 2006-07 came to an end on March 10.

Giving out the details on the placements, chairman of the placement cell, IIM-B, Sourav Mukherji said on Monday, “Mumbai-based firms have been attracting our talent for financial services for quite a few years now. This year too, most students opting for a career in financial services have gone for these companies, though we haven’t made any analysis.”

Aditi Shindhe Patil, who has been appointed as junior consultant with The Boston Consulting Group at Mumbai said that Mumbai was an ideal place to get the best of the experience. “I took up the job to get the hang of various sectors and the short term projects I would be working on would help me identify my interest,” she said.

Around 30 multi-national companies made job offers for their international offices and attracted more than 60 students. “IIM-B is attracting companies from across the world and also from various sectors,” Mukherji said.

Ninety companies made a beeline to the IIM-B campus, picking up 233 students for investment banking, private equity, marketing and consultancy jobs. McKinsey & CO, AT Keatney, Bains & CO, Ernst & Young, Accenture and Diamond Consulting were the top recruiters.

The Institute is tight-lipped on disclosing the salary figures. “As a policy matter, we are not supposed to reveal the salary figures. It is also a security concern. But it is definitely better than last year,” Mukherji said.

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