In the present times when job loss statistics are scary as hell, fresh graduates and postgraduates are in deep turmoil. Since the economy is already distressed, lack of job opportunities and growth comes as a no brainer.
Since April, we have come across several stories of recruiters revoking the job offers of students and this further added to their woes. Few months down the lane, reports present a different story.
According to data analysed by LiveMint, B-school placements for the academic year 2019-20 are at an eight-year high, despite the pandemic.
What Do Statistics Suggest?
According to data collected from over a hundred non-IIM B-Schools across the country, at least 115,481 management students have been placed out of the graduating batch of 2020. The total admissions in this batch were around 237,000. All in all, around 49% of non-IIM management graduates have been placed this year.
The percentage is not impressive at all, however, the analysis of previous years’ statistics released by the All India Council of Technical Education (AICTE) suggests that the hiring trend is showing continuous growth, which is a positive sign considering the pandemic.
While it is true that almost 50% of the abovementioned graduates could not secure a job through college placements, on the bright side, the rate of growth has been positive, despite severe disruptions in the economy.
The number of students placed this year is the highest since 2012 (the year when AICTE started collecting placement data in a structured manner).
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How Did B-Schools Manage Their Placements?
By the time the lockdown disrupted the economic activities in the nation, several B-schools had already completed their placement process to a large extent. So, this helped the students a lot. But, the picture was not as rosy as it seems.
Some recruiters revoked the already rolled out offer letters while others deferred the joining date of the students. However, placement committees were in regular contact with the recruiters, and institutions and students could find replacement offers but the salaries might have been compromised.
Reports suggest that the placements follow past trends, especially in case of leading business schools but the situation is not the same across the board. In the states of Haryana and Tamil Nadu, placement rates this year were lower than in 2019.
But the overall data from non-IIM business schools indicate that placements have not gone down despite the pandemic and considering the current rates, the placements could have been better had the economy not been disrupted.
Expected Trends For 2020-21 Placements
Experts believe that summer placements and final placements for the batch of 2020-21 can be negatively affected considering the economic situations. While the impact might be marginal for tier-I institutes, tier-II and tier-III institutes might struggle hard to place their students.
Companies might not be willing to roll out generous offers even next year. However, since a few industries have started getting back on track and the others are expected to follow a similar path, sooner or later, students with strong profiles and skill-sets might not be impacted in the long run.
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