News: More IIM-B grads refuse jobs abroad

(IBN 13/03/2007) Bangalore - Kunal Mahipal was the only student in IIM Bangalore last year to opt out of the placement process and go the entrepreneurial way.

Mahipal took the road less travelled but now that is not the case anymore as many are following in his footsteps like this year Mahadeo Chitale, who decided to ignore the corporate ladder and join an NGO that deals with microfinance.

“If someone comes to me I would tell him to go through the recruitment process especially if he is a fresher. He should build his contacts before deciding to start independently,” says Chairman, Placement Commission, IIM-B, Sourav Mukherjee.

Chitale is the only student who refused a corporate offer this year. But the trends in IIM Bangalore's placements this year have been interesting.

For example, The Sun Group, a private equity firm, recruited a student for the post of vice-president.

Firms like McKenzie and Barclay Capital, too, made plum offers but what has stood out is the fact that five students have rejected offers from foreign investment banks to work for private equity and consultancy firms in India.

“A lot of people ask me if I have taken the right decision by staying back in India. I don’t feel I have comprised and I know I have made the right choice,” says a student, Manasi Prasad.

Now, the placement season at IIM-B is not about salaries any more.

Most people consider IIM degrees to be a one-way ticket to multinationals abroad but with the emerging trends it seems more students are opting to start their own businesses and choosing to work with Indian companies.