IIM Amritsar and IIM Visakhapatnam are the only 2 of the 6 newest IIMs who have concluded their summer placement process for the first PGP 2015-17 batch. The other 4 IIMs namely IIM BodhGaya, IIM Nagpur, IIM Sambalpur, IIM Sirmaur are yet to complete the process of summer placement.
All the 6 new IIMs started operation with the first PGP batch 2015-17. IIM Visakhapatnam was the first of the newest IIMs who completed the summer placement in the month of February 2016. All the 48 participating students at IIM Visakhapatnam got summer placement by the beginning of 2nd week of February 2016.
Following the process, IIM Amritsar has also announced the completion of 100% summer placement for the PGP batch 2015-17 comprising 45 students. Rest 4 new IIMs are yet to complete the process of summer placement for their maiden batch of PGP 2015-17.
IIM Amritsar witnessed 26 companies offering summer placement to its students. Top recruiters at IIM Amritsar included KPMG, Pidilite, Airtel, RBI, Canara Bank, Yes Bank, Ernst & Young, Ogilvy & Mather, Goibibo, DishTV, Cipla, OYO Rooms, Jasper Industries, DHFL Pramerica, Mahindra & Mahindra, Think & Learn (Byju Classes), Technosoft, Ambit Holdings, Franke Faber etc.
According to IIM Amritsar ‘a diverse set of niche roles were offered to students in domains like Finance, Digital Marketing, Operations, Consulting, HR etc with internship location at Mumbai, Delhi, Noida, Gurgaon, Pune, Bengaluru, Hyderabad, Chandigarh.’
Summer Placement season for the first batch, PGP class of 2015-17 of IIM Visakhapatnam witnessed 33 companies recruiting all 48 participating students from the batch of 49, while one student opted out to pursue startup effort.
Major recruiters comprised KPMG, Ernst & Young, 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
New IIMs prove acceptability by the industry
Completion of summer placement at IIM Amritsar and IIM Visakhapatnam has cleared the fog whether the newest IIMs would be able to place their first batch students as there was uncertainty on their acceptability by industry.
The conclusion of summer placement at the 2 new IIMs for their maiden batch has raised hope among the aspirants and for those who were in a dilemma whether to join new IIMs as they can now take a clear decision to join the new IIMs.
All the 6 new IIMs came into being in 2015 after their establishment was 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.
These IIMs are mentored by top 6 older IIMs in India and the students of the new IIMs will continue to be taught by the faculty from the top 6 IIMs namely IIM Ahmedabad, IIM Bangalore, IIM Calcutta, IIM Lucknow, IIM Indore and IIM Kozhikode. Those who decide in favour of new IIMs will be getting the best learning from the best faculty on management education for at least 2-3 more years till these new IIMs do not get their own faculty recruited.
Admission process in the 6 new IIMs will be finalized in the beginning of May 2016 – around a month from now. All the new IIMs propose to go for an intake of 60 students each.
IIM Amritsar organizes 'A-Sqaure'- the first management conclave; eminent leaders & experts to participate
IIM Amritsar inaugurates first PGP batch 2015-17 with 65 students; plans to move to own campus in 3 years
IIM Amritsar Admission criteria announced: Classes to begin in July 2015; website launched
IIM Visakhapatnam Admission criteria 2016: Weights for class 10 & 12 higher than CAT 2015
IIM Visakhapatnam records 100% summer placement; first among 6 new IIMs to achieve the feat
IIM Visakhapatnam inaugurates first PGP 2015-17 batch of 54 students; Classes commence on Sept 28
Stay tuned to MBAUniverse.com for more updates on new IIMs