Economy

Covid-19 hits an otherwise ‘good’ placements season

G Naga Sridhar Hyderabad | Updated on March 24, 2020 Published on March 24, 2020

Institutions working to get students placed, companies exploring options such as Skype interviews

Students awaiting placements have been hit by the coronavirus (Covid-19) threat.

Generally, most business schools conduct campus placements between December-April every year.

But now, as the that coronavirus has led to a shutdown of educational institutions as well as businesses, the placement process has been halted or left incomplete at different stages for different institutions.

“We have completed 96 per cent of placements for the outgoing class of 2020, but are left with 36 students to be placed,’’ a spokesperson of Indian School of Business (ISB) told BusinessLine.

ISB, which has campuses in Hyderabad and Mohali, has 883 students in the outgoing post-graduate batch this year.

The institution is now totally shut down and all activities have come to a grinding halt. It has even postponed the graduation day, to be held in April, indefinitely.

Every year, all students of ISB are generally placed by the time of the graduation dayself. “Now we are working to place the remaining students,” the ISB functionary said.

Placements deferred

ICFAI Business School faces a similar situation. According Cheeda Srinivas, Head, Placements, 1,170 students have passed out from ICFAI Business School, Hyderabad this year.

“Out of these, 1,060 have been placed so far. Among remaining 110, 65 students are still on campus waiting for campus hiring. We have lined up interviews, but the corona issue has come,” he said.

While some recruiters deferred the process till April, few are opting for other methods. “Five companies, including PWC, who have already started the process told us they will do it using Skype,” said Srinivas.

Uncertainty ahead

On the general trend of hiring, the experts say that contrary to fears about a slowdown since October, IT and consulting firms have shown good hiring with about 5-10 per cent hike in pay packages compared to last year.

However, now there is uncertainty among some quarters about the possibility of delay in honouring campus placement commitments given by recruiters to students.

“We need to factor in the duration of the Covid-19 threat for India and the economic and business fallout of the virus on the global economy too. There is uncertainty surely,” said a recruiter of a top IT firm.

Published on March 24, 2020
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