Students are now being recruited at par with leading international B-schools such as Harvard, Wharton and Yale.
BANGALORE: Indian Institute of Bangalore (IIMB) sets a new vista in overseas placement as more and more multi-nationals and foreign companies are making a beeline for recruiting students from the institute.
Students are now being recruited at par with leading international B-schools such as Harvard Business School, Wharton Business School and Yale.
The summer internships for 2007 saw an all-time high in placements abroad with more number of multi-national and foreign companies making an offer. A record number of 101 students will be interning abroad in firms such as Lehman Brothers, Merill Lynch, JP Morgan, Mckinsey and Co and Goldman Sachs.
Among the 253 students this year, 101 are placed abroad as against the 67 students among the 234 last year. “This is the highest number of students to have been offered international assignments,” said Sourav Mukherjee, chairman, placement cell, IIMB.
“Similar trends are witnessed at all the other IIMs across India,” he added.
Indian firms such as ICICI and Tata Administrative services have also offered internships in international locations across Europe, Middle East and South East Asia. Mukherjee sees this as a result of the increasing global outlook of Indian firms.
“The summer internships might end up as placement offers after students complete their courses. In that case, many IIMB students would be flying to international destinations very soon,” he said.
The students will take up internships in New York, Florida, Texas, California, London, Germany, Hong Kong, Tokyo, Singapore, Kuwait and Sydney.
The proportion of students opting for investment banking as international internship was the highest this year. Next was consulting, said Madhur Bhagat, a placement representative.
Many have even opted for finance owing to the recent boom and newer opportunities in the sector, he added.
Hence, for students like Shruti Rangarajan, who are offered an internship in finance in Lehman Brothers, New York, it is an opportunity to make a quantum leap in their career.
“I'll be able to test my acumen in finance and weigh its pros and cons to make it big in this sector. This will also help me to choose the electives for my second year,” she said.
Worth mentioning, the summer placements saw a record number of world's biggest consulting firms —McKinsey and Co, Bain and Co and AT Kearney — thronging the IIMB campus for the first time.
“The trend-setter this year was the chance visit of a number of private equity firms,” said Mukherjee. Chrys Capital is one such visitor.
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