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

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.

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.”