LUCKNOW: The gloom of recession may fade fast as financial companies make a come back in a big way to knock the doors of Indian Institute of Management, Lucknow (IIM-L), to recruit country's managerial cream. At least this is what appears, considering the projections of summer placements at IIM-L which began in the last week of October. IIM-L authorities said the placement process so far has seen a distinct revival in the financial sector, with several major banks and financial firms hiring in good numbers.

Slot zero at the institute, Indian Institute of Management authorities claimed, saw the participation of prestigious consulting firms including McKinsey, Boston Consulting Group, investment banks including Deutsche Bank International (GMC), BNP Paribas, and private equity firms including Baring Private Equity Partners. The arrival of financial companies in large numbers at IIM-L marks a distinct turn from the last year when the institute students had to look for public sector undertakings (PSUs). In fact, there was an increased focus on the PSUs in the event of lesser number of financial companies turning up to recruit IIM students.

Even the fast moving consumer goods (FMCG) companies including Procter and Gamble, Hindustan Unilever, Diageo, Coca Cola, Nokia, Cadburys and several others too have participated in the summer placements process so far. The year marked the entry of several firms such as Singapore Telecom, Puma and Bharti Airtel, who participated in the process for the first time. Among emerging sectors, companies from renewable energy, health and education have shown interest in hiring from the campus. Several students have accepted offers from a range of start-up companies as well.

The first phase of the summer process has seen a 25% increase in number of offers as compared to last year. The process will now continue after the mid-term exams, which form an important part of the academic calendar.

source: TOI