Campus Drought ; Companies Aren't Just Laying Off Employees but Have Also Become Cautious with New Hiring. The Result? A Steep Fall in the Quantity and Quality of New Offers On the Campuses.

Summary

---

For the past five years, recruiting week at the country's prominent, toptier business schools used to be a monumental affair. The air was charged with the electric excitement of hundreds of graduates chatting animatedly about the slew of offers they had in their kitty, the ones they were taking seriously as well as where and how they would celebrate all of this thanks to an overheating job market. In those days, recruitment would start onday zeroand after torrid sessions of interviews with companies, would end seventy-two hours later with a flood of offers made to the graduating class.

Today, the scene couldn't be more different. Instead ofday zero , recent recruitment at a top business school took place over three consecutive weekends. Over 25 per cent of its graduating class has yet to find a job. Most B-school and engineering college heads continue to paint a rosy picture about the employment situation, saying that average offers are on pace with last year's, or that average starting salaries haven't dropped at all. Graduating B- schoolers and techies across the country, however, are reporting something entirely different. Campus recruitment, they say, has dropped precipitously30-40 per cent of their graduating class are currently offer-less in many cases.In a good year, companies were vying for recruiting slots lest they missed out on the best candidates. Now companies are taking a lot more time. The game is now in their hands,says Sharadh Manian, a final year student at one of India's top B-schools.

See the full content of this document

Extract

---

Campus Drought ; Companies Aren't Just Laying Off Employees but Have Also Become Cautious with New Hiring. The Result? A Steep Fall in the Quantity and Quality of New Offers On the Campuses.

That's not all. In addition to the increasing jobless rates at these schools, the quality and nature of jobs have also declined significantly. Moreover, starting salaries have been slashed hea...

See the full content of this document

---