Grim Situation for Summer Placements in IIMs

According to a report by HirePro, which was exclusively shared with Moneycontrol, summer placements were completed by only three out of the six premier IIMs and one out of the 15 new IIMs.

Summer Placement in IIMs are facing Challanges

According to this report, a campus recruitment and placements platform, several prestigious Indian Institutes of Management (IIMs) are facing challenges in closing summer hirings. While some IIMs were known for achieving 100 percent placements within two days, only 20 percent of the 21 IIMs have completed their summer placements so far. The remaining 80 percent are still in the process of placements. However, the institutes are assuring students that they will provide all necessary support to secure placements.

Among the premier IIMs, only three out of six have completed their summer placements, while one out of the 15 new IIMs has also achieved this milestone. The report highlights that IIM Ahmedabad, Calcutta, and Lucknow have achieved 100 percent placements, while Bangalore, Indore, and Kozhikode are still in the process. Among the new IIMs, only IIM Mumbai has completed the placement process.

According to the report, premier IIMs have faced an unprecedented challenge in recent years as they have struggled to ensure the placement of all their students. Unlike previous years, where the placement process would be completed within a few days, this year it has extended for two months and is expected to coincide with the upcoming lateral/final placement of the outgoing batch, which is set to graduate in 2024. The information in the report is based on inputs from IIM students, connects, and placement reports.

So, Only 20% of IIMs manage to secure successful summer placements within a span of two months, resulting in a challenging situation. Moreover, there has been a decline in stipends offered during these placements.

Note: Article is based on news published on Moneycontrol website.