IIM Mumbai Placements Observe 20% Surge in Campus Recruitment after the IIM Tag

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The transformation of NITIE into IIM Mumbai has brought a boost to placements this year, standing out with a 20% increase in companies participating in campus recruitment, despite the global economic slowdown affecting other institutions.

IIM Mumbai Placements Observe 20% Surge in Campus Recruitment after the IIM Tag

New Delhi: The recent transition of the National Institute of Industrial Engineering (NITIE) to the Indian Institute of Management (IIM) Mumbai status has significantly enhanced placement opportunities at the institution this year.

While other IIMs and IITs are impacted by the effects of a global slowdown on placements, the newly designated IIM Mumbai has witnessed a remarkable surge of over 20 percent in the number of companies participating in campus recruitment compared to the previous year.

This includes several notable first-time top recruiters on campus, including Microsoft, Goldman Sachs, Pine Labs, Meesho, Blinkit, Gestamp, SUD Life, Birla Paints, and others.

While the global tech downturn impacts placements at renowned higher education institutions nationwide, including IIM Bangalore, IIM Mumbai Placements have experienced a significant rise in new recruiters. Placement activities commenced last week.

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IIM Mumbai Placement Statistics After Getting the IIM Tag

Making its inaugural visit to IIM Mumbai, Microsoft not only marked its first appearance but also extended the highest annual pay package of INR 51 LPA. This figure significantly surpasses the average salary package of INR 31 LPA recorded at the campus this year. However, the placement process is still underway.

A total of 130 companies are actively participating in the campus placements for the Summer Internships Programme (SIP), with 20 new entries this year. Professor Rauf Iqbal, the Dean of Student Affairs at the institute, stated that almost all the students have secured SIPs, with a few still awaiting placement. He further highlighted that the institute secured a total of 168 PPOs this year.

Despite NITIE attaining IIM status in August this year, Professor Manoj K Tiwari, Director of IIM Mumbai, highlighted that the new designation has resulted in a shift in the market perception of the institution.

Numerous newly established and highly esteemed companies have expressed keen interest in campus placements this year, marking a favorable shift observed after attaining IIM status in August, he added.

Professor Tiwari also credited this success to the institute's specialized curriculum, stating that their curriculum aligns with current industry requirements, highlighting digital technology across all management domains.

The initial phase of placements is directed towards individuals who have enrolled at NITIE after accumulating significant years of work experience.

For fresh graduates, the Common Recruitment Program is scheduled for January, and the institute is already anticipating success in the second phase based on the substantial interest expressed by companies.

In the early stages of placements, Professor Neeraj Pandey, Associate Dean of Placements and Branding at IIM Mumbai faculty, highlighted the growing interest from both domestic and international recruiters.

He added that in addition to their consistent participating companies offering international roles, such as Landmark (Dubai) and Tolaram Group (Africa), Sobha Realty from Dubai has recently joined, with ongoing discussions with several others.

In contrast to recent reports indicating challenges in securing summer internships for students at IIM Bangalore, IIM Mumbai finds itself in a favorable position this year.

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This delay is not due to a lack of companies offering SIPs but rather a thorough evaluation of whether the company has the intention and capacity to convert the SIP into a Pre-Placement Offer (PPO).

This year, the institute has observed an increased percentage of Summer Internships (SIPs) being transformed into Pre-Placement Offers (PPOs).

Professor Pandey noted that the placement season commenced with a conversion rate of 38 percent for SIPs into PPOs, a notable improvement compared to the 33 percent conversion rate from the previous year.