Start-ups compete with giants to make offers; 50% jump in numbers
There seems to be no slowdown for the graduates of Indian School of Business (ISB) in placements this year. Apart from the the number of offers going up, start-up companies have also made a mark.
A total of 831 offers were made as on February 28 for the outgoing class of 2014 as compared with 697 offers in the corresponding period last year in its two campuses in Hyderabad and Mohali, which have a combined strength of 770 students.
While the premier business school has been on the radar of corporate giants in the recent years, the start-ups are now competing with them in attracting students. There has been a 50 per cent increase in the number of start-up companies participating in the placements this year. As many as 46 companies made 48 offers, according to a placements update released by the ISB here on Monday.
A big chunk of offers were from the technology, telecom, e-Commerce, transportation and education and the roles offered included heads of corporate finance, operations, and international relations. “Many of the venture capitalists funding these companies were also seen participating actively with the promoters in the hiring process,” it said.
Technology and consulting sectors continued to be the largest recruiting sectors constituting 35 per cent and 21 per cent of the total offers from Apple, Cognizant, Infosys and Boston Consulting among others.
When contacted, VK Menon, Senior Director of Career Advancement Services at ISB, told Business Line that the spurt in placements was driven by higher recruitment by the majors.
“A set of 30-40 premium recruiters hired in larger numbers this year as they are anticipating good growth. The kind of projections which these companies are making is very positive,’’ he said.
The hiring by start-ups also points to a new trend of young, small companies willing to pay a premium for talent.
According to Menon, they offered remuneration on par with the big corporates besides an upside in the form of stake or variable component to attract students.
Around 63 international offers were made including those from companies based in the Gulf. “As several ISB students had prior global work experience, there have hired for senior management positions,’’ Menon said.
While not committing any figure on remuneration, he said it had gone up compared to last year and data could be shared only next month when about 15 per cent of students takes a final call on offers.