4 of 6 new IIMs conclude Summer Placement; IIM Gaya and Sirmaur yet to fall in line

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Updated on June 13, 2016
Out of 6 new IIMs, IIM Amritsar, IIM Nagpur, IIM Sambalpur and IIM Visakhapatnam have reported the completion of summer placement for their first PGP 2015-17 batch
Completion of summer placement at 4 new IIMs, 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

4 of 6 newest IIMs which started operation in 2015 have concluded their summer placement 2016 and their students are undergoing the training schedule with an eye on PPOs. IIM Amritsar, IIM Nagpur, IIM Sambalpur and IIM Visakhapatnam have reported the completion of summer placement for their first PGP 2015-17 batch whereas IIM BodhGaya and IIM Sirmaur are yet to finalize the summer placement for small PGP batches.

Admission seekers worried
Although candidates confirmed their interest in newest IIMs and many of them hesitatingly are preparing themselves to take admission in them after receiving admission offers but the non completion of summer placement in IIMs has given rise to the doubt among the prospective students whether the 2 new IIMs mentored by 2 top rated IIMs in the country will be accepted by the Corporate world and business industry. It is interesting to note that IIM BodhGaya is mentored by IIM Calcutta and IIM Sirmaur is mentored by IIM Lucknow.

It is expected that both these new IIMs will shortly conclude their summer placement and will clear the fog on speculation of admission decision which the candidates are hesitating to take.

IIM Amritsar: 26 recruiters for 45 students
IIM Amritsar has achieved 100% summer placement for the PGP batch 2015-17 comprising 45 students. 26 companies offering summer placement to its students visited IIM Amritsar.

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.

IIM Nagpur: 24 companies preferred by 53 students
IM Nagpur successfully completed its summer placement for the first batch of PGP 2015 - 2017 and all PGP participants are undertaking their internships as of now.

Out of the many interested companies, only 24 companies from different domains were able to get summer interns from the limited pool of 53 participants available for summer placements.

Companies that made offers include Axis Bank, Calderys, CIIE@IIMA, Excellon, Exide Life Insurance, KPMG, Maharashtra Government (including the Chief Minister's Office), Maharashtra State Skill Development Society, Oyo Rooms, Panasonic, Persistent, Several fast growing SMEs & start-ups, Taxi for Sure, TCS, Technopak, Tega Industries, Voonik, Yes Bank. The list excludes companies that participated, but where PGP participants did not go for their internships.

IIM Sambalpur: 34 recruiters made 69 offers
The very first PGP batch 2015-17 comprising 48 students at IIM Sambalpur has secured 100% summer placement with 69 offers from 34 recruiters. The Average stipend for the entire Batch for 2 months was Rs. 24,896 while the Average Stipend for top 25 percentile of students was Rs. 70,000 and for top 50 percentile of students was Rs. 46,364.

Sharing the information IIM Sambalpur says ‘Indian Institute of Management Sambalpur is proud to announce the successful completion of Summer Placements for the batch of 2015-17 comprising 48 students (39 male, 9 Female)’.

The first diverse PGP 2015-17 batch at IIM Sambalpur has an average work experience of 19.5 months. The offers were made from various sectors in BFSI, Consultancy, E-commerce, Finance, Automobile, Logistics and postal services, Hotel & Tourism amongst others. Roles offered to students were from domains such as Consulting, BFSI, Operations, Marketing, Marketing research, HR, General Management, Sales, Business development.

Top segments based on roles offered were from BFSI (31%) , Marketing(15%), Marketing Research(15%) and Finance(11%).

The companies who offered internship roles to IIM Sambalpur students are Exim Bank , IDBI BANK, State Bank of India, Bank of India , Hero Group, JK Tyre, thyssenkrupp, Indiabulls, ShopClues, India Posts, Indian Oil Corporation Ltd. , National Aluminium Company Limited (NALCO), Power Finance Corporation, UpGrad, Milk Mantra, Philips India, Pokarna Granites, Sheela Foam Pvt Ltd-Sleepwell , Way2Wealth Brokers Pvt. Ltd.,WheelStreet, Housing and Urban Development Department(HUDD) - Govt. of Odisha, Niraamaya, Seven Hexagons Business Consultants among others.

IIM Visakhapatnam: 33 recruiters for 48 students
All the 48 participating students at IIM Visakhapatnam got summer placement by the beginning of 2nd week of February 2016. IIM Visakhapatnam was the first of the newest IIMs who completed the summer placement.

33 companies recruited 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.

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 IIM Visakhapatnam, 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 are intern with Basket Option, a JGI Ventures start-up

Acceptance of New IIMs by industry
Completion of summer placement at 4 new IIMs, 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 4 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.

Admission offers by the 6 new IIMs have already been made to the interested candidates and now the candidates have to take a quick decision which one to join as the last date is drawing to a close.

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