Marking success and clearing the fog whether the newest IIM Visakhapatnam first batch students would be accepted by industry, the Summer Placement season for the first batch, PGP class of 2015-17 of the Indian Institute of Management Visakhapatnam (IIMV) successfully concluded with 33 companies recruiting all 48 participating students from the batch of 49, while one student opted out to pursue a startup effort. IIM Visakhapatnam is one of the 6 new IIMs that started in 2015 and is currently operating under the faculty mentorship of IIM Bangalore.
IIM Visakhapatnam is the first among the 6 new IIMs that started operation in 2015 to achieve the summer placement for the entire first batch. None of the other IIMs have reported any placement so far.
The conclusion of summer placement at IIM Visakhapatnam for its maiden batch has raised hope among the aspirants and for those who were in a dilemma whether to join IIM Visakhapatnam vis-à-vis other comparatively old IIMs that they can now take a clear decision to join the IIMV.
Joint placement process
In the first phase of summer placements 31 students of the batch were placed when they participated in the summer placement process of IIM Bangalore in the first week of November 2015 and many companies selected students from both from IIMB and IIM Visakhapatnam in the unique joint process.
In the second phase multiple recruiters visited the IIM Visakhapatnam campus over a period of 3 months to recruit students of their choice concluding with all 48 students successfully securing internship offers.
The Summer Placement at IIM Visakhapatnam witnessed more recruiters offering diverse internship roles to the students.
Consulting & Banking
Major recruiters in consulting and banking were KPMG and Ernst & Young who recruited IIM Visakhapatnam students for their consulting division and transaction advisory, respectively.
The technology domain recruiters included Xiaomi, Directi, Mindtree, Capgemini, Sutherland Global, Mphasis and SkyQuest. Internet companies such as Hopscotch, Mauj.com, IITIIMShaadi.com, Channelplay, Furlenco also recruited students for key product management and project management internships.
Among the Indian conglomerates Reliance ADAG, Jindal Group, Shree Cements, Pokarna and Hyderabad-based SH group recruited for strategy and operations profiles. Public sector companies such as Vizag Steel and HPCL along with the Government of Andhra Pradesh also recruited students for their prestigious internship program. Multinational pharmaceutical giant Dr. Reddy’s and their wholly owned subsidiary Aurigene recruited students for their corporate HR and finance profiles.
Other major recruiters included investment advisory firms Lexicon Securities, Forum Synergies and Bangalore-based analytics company Stat Labs. Leading global in-stadia arena management firm Technology Frontiers recruited one student for their corporate relations profile.
In line with the entrepreneurial mindset being inculcated at IIMV, there was keen interest in start-ups with Noida based SME lending startup Zoukloans making 5 offers while Edusports and Grayroutes rolled out 3 offers. Two students will intern with Basket Option, a JGI Ventures start-up.
Commenting on the season, Professor Ganesh Prabhu, Chairperson, Career Development Services, IIM Bangalore, said “The first batch of IIMV student rose to the challenge of securing internships within two months of joining, with regular IIMB recruiters making offers to IIMV students also.”
Arun Narayan, Placement Representative, IIM Bangalore, shared “The IIMV students impressed many regular recruiters of IIMB with their performance and preparedness.”
Ripusudan Adhikari, Placement Representative, IIM Visakhapatnam, said: “Students had focused targets in the sectors they wanted to intern with, and every student was able to achieve their target.”
IIM Visakhapatnam came into being in 2015 as one of the 6 IIMs announced in the Union Budget 2014. While 5 of the 6 IIMs got finalized in the Budget 2014, the fate of IIM Visakhapatnam took the final shape in the Budget 2015 till then it remained a Government Ordinance entity. IIM Bangalore is the mentor IIM to IIM Visakhapatnam. The temporary campus at IIM Visakhapatnam doesn’t have on campus hostel accommodation and candidates of the first batch were accomodated to off campus hostel accommodation. Confirming this IIM Visakhapatnam said ‘There is no hostel facility on the temporary campus. Therefore, off-campus hostel facility will be arranged for all students.’
Classes at IIM Visakhapatnam are held at the temporary premises allotted to it at Andhra University campus and will continue at the temporary campus till the 300 acre campus of IIM Visakhapatnam gets ready.
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