Consulting firms account for the most recruitments at IIM-L placements

08 February 2019 Consultancy.in

Consulting firms are among the top recruiters from prestigious academic institutions in India, both in the domains of management and technology. The sector played the central role in this year’s campus placements at the Indian Institute of Management and at the Indian Institute of Technology Bombay.

Talent has become one of the most coveted commodities in the Indian market recently, particularly in the consulting sector. As businesses in the country trace growth trajectories, consulting firms have come into increasing demand, leading to a spike in the value of India’s consulting market.

Illustrious firms from the global advisory world have been rushing in to tap into this lucrative scenario, while the Big Four have been engaged in cut throat competition. Alongside a contest for clients in the country, these firms have been rushing in to scoop up the talent available in the management consulting domain.

Consulting firms are recruiting at rapid rates, exemplified by KPMG’s announcement late last year that it plans to recruit as many as 9,000 professionals in the near future. KPMG’s efforts are partly in order to rebuild its practice after a large portion of its staff was poached by Deloitte last year.

Consulting firms account for the most recruitments at IIM-L placements

IT services giant Wipro has announced this year that it will double its recruitment from campuses this year, in consistency with its efforts to bolster its digital capabilities. These intentions are manifesting themselves in the outcomes of campus placements rounds across India’s most prestigious institutions. 

At the latest round in the Indian Institute of Management in Lucknow (IIM-L), 32% of the 460 students were placed in consulting firms from across the globe. A number of big names featured on the list, including Bain & Company, Alvarez & Marsal, McKinsey & Company as well as the Boston Consulting Group (BCG).

In last year’s February round of placements at IIM Bangalore, Big Four professional services firm Deloitte was the top recruiter, followed by BCG and AT Kearney, while Accenture led the placements in November 2017, followed, again, by BCG and AT Kearney.

Commenting on this year’s placements Professor Uppal at IIM-L said, “A lot of companies were looking for students having previous work experience. We exactly can’t comment why there is a shift. But it was certainly there. This year, participation from consulting and finance firms was also significant.”

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Deloitte to double Hyderabad staff to nearly 80,000 in the near future

14 February 2019 Consultancy.in

Global professional services firm Deloitte has revealed gargantuan plans for the Indian market over the next half a decade, indicating that it might add as many as 40,000 professionals to its staff in the country. The new professionals will join the firm’s Hyderabad outfit, which already houses 40,000 employees.

Big Four rival KPMG’s announcement last month that it plans to recruit 9,000 employees in the near future has now paled in comparison, as Deloitte’s plans scale four times that volume. The plans come amid a wave of recruitment amongst consulting firms in India, as they look to cope with rapidly expanding demand in the market. 

Hyderabad is currently the firm’s centre of operations in India, supported by a number of innovation centres and housing as many as 40,000 employees already. The biggest operations in India aside from Hyderabad are in Mumbai, Bengaluru and Delhi, which collectively house between 9,000 and 10,000 professionals.

The firm now plans to double its staff in Hyderabad over the next 3 to 5 years, taking it to a staggering 80,000 professionals. The plans were revealed by Technology, Media and Telecommunications leader for Deloitte India Hemant Joshi, which indicates the department where most of this recruitment will be concentrated.

Deloitte to double Hyderabad staff to nearly 80,000 in the near future

The new recruits, according to Joshi, comprise of “a lot of engineers and software professionals,” which will mostly be recruited from academic institutions and other firms in the country. Deloitte has previously demonstrated its comfort with poaching talent from its rival consulting firms in India.

The focus on the technology domain is consistent with the trend across the consulting and IT services industries in India, which are all attempting to develop their in-house expertise in a range of Industry 4.0 domains. These intentions are driven by the demand for support in these domains among firms from all sectors in India.

As the population in India becomes increasingly digitalised, most businesses are under pressure not only to find a way of selling their products and services on the online domain, but also to design digital marketing campaigns and strategies that will reach all the new online users in India.

Deloitte is looking to tap into this market with full force, and will deploy most of this new strength towards its Industry 4.0 services. “We are building (facilities in Hyderabad) ahead of hiring and we are hiring as rapidly as we can,” said paul Sallom, Global Leader TMT Leader for Deloitte.