In the wake of global financial and economic crisis, IIM Bangalore extends placements beyond the usual placement week and takes eleven days to place all students. Infact, in previous years, all IIMs with the inclusion of IIM Bangalore, usually took about 3-4 days only to place their students.

This year, the placement season at IIM-B began on February 27, with around 100 companies visiting campus (as against 70 companies last year), and finished on Monday, March 9. The increase in number of companies is due to the fact that all IIMs have invited more companies to their campus this year for placements.

But the saving grace is, IIM Bangalore has managed to find jobs for all of its 250 management students. This was confirmed by IIM-B Chairperson (Placements), Prof. Saurav Mukherjee. Following its policy of last few years, IIM Bangalore has not disclosed salary figures this year as well, though some placement figures would be forth-coming soon when IIM-B briefs the media.

As reported by LiveMint.com, “On Monday, four state-owned firms were among the hiring firms at IIM-B. Gas marketers and transporter - GAIL (India) Ltd., power generating firm - NTPC Ltd., and fuel retailers - Bharat Petroleum Corp. Ltd. (BPCL) and Hindustan Petroleum Corporation Ltd. (HPCL), interviewed and evaluated around 20 students and made 10 offers. It wasn’t immediately known how many of these had been accepted.”

“Companies that recruited from IIM-B this year include consulting firms Booz & Co., Bain & Co., McKinsey & Co., Boston Consulting Group and AT Kearney Inc.; Indian arms of international banks, Citibank NA, Hongkong and Shanghai Banking Corp. Ltd, Standard Chartered Bank; private banks, Axis Bank Ltd; and first-time recruiters Usha International Ltd., Mahindra & Mahindra Ltd.”

So, just like the newly-emerged trend at IIM Ahmedabad and IIM Calcutta, IIM Bangalore students have also opted for offers from PSUs.

A news-release in ExpressBuzz.com supports the same trend, “The four PSUs that attended Monday’s placement session (at IIM Bangalore) were - National Thermal Power Corporation Ltd., Bharat Petroleum Corporation Ltd., GAIL Ltd. and Hindustan Petroleum Corporation Ltd. Around 10 offers were made to students, said a student. This is a trend that has been seen in other IIMs too this year.”

Media sources report that 36 out of 265 students at IIM Calcutta have opted for jobs with PSUs such as Union Bank, Bank of Baroda, National Thermal Power Corporation and Indian Oil Corporation, while at IIM Ahmedabad, 41 students have opted for PSU jobs.

In the meantime, IIM Lucknow and IIM Kozhikode have commenced the Final Placements 2009 at their respective campuses on March 2, 2009. It would be interesting to watch if they would also turn to PSUs with open arms as their fellow students at IIM A, B & C have done.