Consulting firms most-preferred option for IIM students
At a time when i-banks have cut down on recruitments during the finals, consulting firms have come up as the new favourites on the block. Special: IIM High Fliers
By Sreeradha D Basu & Ambika Naithani, TNN |
KOLKATA/MUMBAI: Final placements across IIMs this year have seen consulting firms emerge as the most-preferred option for students. At a time when i-banks have cut down on recruitments during the finals, consulting firms have come up as the new favourites on the block.
It���s a win-win situation for both parties. For students, the attraction lies in significantly higher salaries as well as exciting roles offered both in India and abroad. The firms, on their part, stand to gain by getting to choose from a bigger pool of talent, which under normal circumstances, might have gone to i-banks.
While regular consulting recruiters like McKinsey, Boston Consulting, AT Kearney and Bain continued to throng campuses, several new firms have jumped onto the bandwagon too. Arthur D Little visited IIM Calcutta (IIM-C) and IIM Kozhikode (IIM-K) for the first time, whereas Bristlecone was a first-timer at IIM Indore (IIM-I).
It���s a win-win situation for both parties. For students, the attraction lies in significantly higher salaries as well as exciting roles offered both in India and abroad. The firms, on their part, stand to gain by getting to choose from a bigger pool of talent, which under normal circumstances, might have gone to i-banks.
While regular consulting recruiters like McKinsey, Boston Consulting, AT Kearney and Bain continued to throng campuses, several new firms have jumped onto the bandwagon too. Arthur D Little visited IIM Calcutta (IIM-C) and IIM Kozhikode (IIM-K) for the first time, whereas Bristlecone was a first-timer at IIM Indore (IIM-I).
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Oliver Wyman made its first appearance at IIM Ahmedabad (IIM-A) and IIM-K. Monitor Group recruited exclusively from IIM-A across all business schools in Asia, chalking up nine acceptances.
Salaries too shot up. ���Salaries offered by consulting firms have gone up by over 20%. The average domestic salary offered by them is Rs 18 lakh while the average international offer is between $90,000 and $1,00,000,��� IIM-A placement committee member Rohan Mathur told ET.
While traditionally, consulting firms have offered positions in India, New York and London, this time , biggies like McKinsey and BCG have offered assignments in Singapore, Paris, Boston and Sydney at IIM-A. In IIM-C, the packages offered by consulting firms so far are around Rs 20 lakh plus performance bonuses.
IIM-C placement committee chairperson SD Moitra said: ���Indian industry is maturing and looking to consultancy firms for support in their growth. Thus, global consultancies are increasingly setting up bases in India and are looking for talent. Students too, are interested in these companies.���
The numbers speak for themselves. At IIM Bangalore (IIM-B), 37% of the batch has accepted a position in a consulting career. At IIM-A, it is 30.89% and at IIM-I it���s 14%. In IIM-C, Slot Zero alone saw over 40 candidates being hired for strategic consulting roles by major consultancies like BCG, Bain, McKinsey, AT Kearney and AD Little.
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Long-term recruiters too, stepped up on the number of offers.The increase in offers made by the consulting firms is mainly because of their massive expansion plans, said IIM sources. Start a SIP with as low as ₹500 with ET Money App!
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