Laterals were conducted in the months of January and February 2008.
The significant amount of prior work experience of the batch of 2006-08 led to an increase in the number of students eligible for lateral placements. Many big names in fields such as consulting, private equity, general management and banking participated in the process.
The lateral recruitment process is conducted specifically for students with prior work experience of at least 18 months. The increasing significance of the laterals process can be attributed to the rising proportion of students with work experience in each successive batch. The number of students eligible for lateral placements saw a significant jump from 89 last year to 112 this year.
The number of firms participating in the process shot up to 37. These firms made a total of 103 offers in the process. At a time when the job market across the world is going through a major upheaval, the above numbers reflect the continuing confidence firms worldwide place in IIM Ahmedabad. In fact, the number of firms offering international positions more than doubled this year from 3 to 7. The average salary for the laterals process as a whole saw an increase from Rs.
16.2 lakhs last year to Rs. 18.3 lakhs this year.
Firms from a wide range of sectors, namely consulting, private equity, real estate, finance, information technology, general management and marketing, participated in the process. Some of the notable firms recruiting on campus were Booz Allen Hamilton, Monitor Group, Google and Amazon, among others.
Consulting major Monitor Group and private equity player Greater Pacific Capital were some of the big names which recruited exclusively from IIM Ahmedabad; while the world's largest steel manufacturer Arcelor Mittal offered some unique and challenging roles in hitherto unexplored but rapidly emerging economies of Eastern Europe.
There was a significant increase in the compensation offered to students by Indian firms as well. Top Indian firms, namely the Aditya Birla Group, Trilogy and HCL significantly increased the salaries offered to students to compete for talent with international firms. These firms also targeted students for specific roles in middle and upper management positions with significant responsibility.
Prof. Piyush Sinha, Faculty Chairperson of the Placement Committee, says, "Lateral Placements at IIM Ahmedabad have proved once again the standing of the institute among the world's best when it comes to preparing managers not only for entry level but also for middle level management."
