Tech talent at B-schools set to score high this placement season
Students with engineering degrees, especially those from the computer science, electronic and electrical streams, are back in big demand this placement season at the IIMs and other top business schools.
They are filling posts in data sciences, data mining, big data, artificial intelligence (AI), Internet of Things (IoT), product research, pre-sales solutions and tech analysis, placement officials at B-schools said, based on early trends in campus offers.
“Demand for managers with technology and innovation skills has been on a rise,” said Madhu Vij, placement head at Faculty of Management Studies (FMS), Delhi. “Today, no business or process can be run in silos, so demand for talent with both qualitative and quantitative proficiencies has gone up.”
It is for this reason that once popular roles offered to management students in areas such as strategy and investment banking are now being replaced with new areas such as AI, IoT, big data and risk management, she said.
At IIM Lucknow, summer internship placement (SIP) offers from ecommerce firms and startups rose 70% this year to 101, up from 72 last year. At IIM Calcutta, the number of offers received for tech profiles more than doubled to 62 this year from 30 offers last year. In any case, about 90% of students at the top management schools are graduates from premier engineering colleges.
“Cognitive skills along with noncognitive skills can be a lethal combination in future employees,” said Rituparna Chakraborty, cofounder of talent search firm TeamLease Services. “It is the perfect blend to make these professionals future-proof with an agility to take on an ambiguous future,” Chakraborty added.
A recent study conducted by staffing specialist firm Xpheno, suggests that at least three in 10 students of the class of 2020 at top business schools are likely to get hired for tech profiles. “The campus-industry interface has also seen a surge,” said Siddharth Verma, practice head, leadership hiring, at Xpheno. “Net in net, tier 1 campuses are likely to see 50-65% increases in numbers of offers per student this year.”
Schools that took part in the Xpheno study included the older IIMs in Ahmedabad, Bangalore, Calcutta, Lucknow, Indore and Kozhikode along with newer ones in Shillong, Trichy, Udaipur, and Rohtak. Others included XLRIXavier School of Management, Jamshedpur, Management Development Institute (MDI), Gurgaon, FMS Delhi, Indian Institute of Foreign Trade, Delhi, SP Jain Institute of Management and Research and Narsee Monjee Institute of Management Studies, the last two based in Mumbai. The business schools of IIT Bombay, IIT Kharagpur and IIT Delhi were also part of the study.
At XLRI, technology/IT companies have extended 59 summer internship placement offers this year, up 136% over last year’s 25, with Amazon alone extending 22 offers, the highest on the campus.
“A significant percentage of these roles were for product managers, owing to the high proportion of candidates from some of the top engineering schools, with relevant education and work experience background,” a placement representative at XLRI said in an email response to ET.
At FMS Delhi, 36 offers have been made for tech profiles this year against 26 last year.
At IIM Bangalore, 58 students have got SIP offers for IT product management roles from companies including Microsoft, Sprinklr, Honeywell, Byju’s, Oyo Rooms, Adobe, and Ola, besides 11 offers in analytics from American Express, UnitedHealth Group and others.
“Internships are an important source of talent for us, as they allow us as well as the candidate to assess mutual fit,” said Aditya Sharma, partner at McKinsey & Company. “This is based on performance in client engagements. We have an absolute bar for candidates in each of our hiring processes for different roles,” he said.