MBAUniverse.com Spotlight: Inside the new placement process at ISB

As reported by MBAUniverse.com yesterday, the average international salary at ISB was a high Rs 59.5 lacs while the average domestic salary at ISB this year was a respectable Rs 15.03 lacs. ISBs placement process is quite different from the rest of Indian B-schools. Given that most ISBians have higher work experience and aim for Lateral placements in organization, both organization and the candidate are better off knowing each other well before they decide to take a plunge. The ISBs extended placement process, which was spread over six months this year, tries to ensure just that. MBAUniverse.com takes an in-depth look at this new model.

The placement process at ISB began way back in October 2006, with the ISBs Career and Alumni Services (CAS) team inviting companies to recruit at the ISB. CAS team anchors the placement process. Through a series of on-campus presentations and hundreds of job postings, students have the opportunity to learn about recruiting companies.

The process kicked-off with a series of pre-placement talks (PPT) by recruiters to the student body about the organization and their philosophy. Pre-placement Talks were scheduled in January 2007. Companies then share their job requirements with CAS.

Students respond to job-postings by submitting expressions of interest or EOIs to them. This process was kicked off by early February. Then, recruiters select suitable candidates, draw up a shortlist and inform the CAS team, who in turn share the same to the students.

What follows is a series of meetings and interviews on campus. The interview phase at ISB started in mid February. Recruiters can also conduct off campus interviews with students in special cases. The bulk of the placement process happens during a ten-day window, and entire process was completed by early April.

So what were the imperatives for ISB to look at this extending placement process? ISB believes that lateral placements demands more time and engagement. Says ISB, Our Rolling Placement Process assists organisations to make well-considered hiring decisions for their middle and senior management positions. The extended timeframe of the Process gives recruiters and students adequate time and opportunity to interact with each other, ensuring the best fit for the individual and the organisation.

The role of the CAS office is crucial in this process. Says V K Menon, Director, Career Advancement Services, ISB, Companies recruiting at the ISB consider us as a strategic partner in their growth plans both in India as well as abroad. They get to recruit professionals who are on par with the best in the world. I believe there is an increasing trend of recognition of the Indian leadership potential. Apart from planning and co-coordinating the exercise, CAS office makes students better prepared for leadership roles by providing constructive critique on resumes, interview skills, psychometric profiling and guidance in soft skills.

As a result of this extended drill, this year, ISB has attracted several international and domestic companies from non-traditional sectors. Microfinance companies, NGOs, Real estate, Retail, Infrastructure such as steel, cement, oil and natural gas and several others participated in the process. They, according to ISB, were looking at recruiting students from the ISB for senior management roles. Further, ISB says that there is a substantial increase in the number of overseas offices of many MNCs expressing interest in recruiting from the ISB. The positions on offer include international assignments, including several at leadership levels. Some such companies are Colgate Palmolive Company Inc, Goldman Sachs International, Deutsche Bank AG, Booz Allen Hamilton (UK) Ltd, Mercer Management Consulting, and KPMG- Australia.

This year ISB also attracted companies from Australia and Italy. Leading companies based in Germany, Switzerland, Middle East, USA, UK, Singapore visited the campus.

Talking about the new Rolling Placements process, M Rammohan Rao - Dean, ISB, said, The Indian economy is on a sharp growth curve, it provides plenty of opportunities for our students to grow with it. Our students are expressing immense confidence in making choices that suit long term career prospects over immediate salaries. Taking a balanced view and opting for strong roles irrespective of the compensation is truly a mark of maturity.