Apparently anticipating a hit in offers because of a “market downturn”, IIM Calcutta has reached out to its alumni seeking internship offers for 80-odd students under Cluster 3 program due to begin this week.
The Cluster 3 placement offers consist of participation from companies in sectors like IT, manufacturing, BFSI (banking, financial services and insurance) and start-ups.
“We, the Placement Team at IIMC, are currently in the midst of the Summer Placement cycle for the 60th MBA Batch. As you might be aware, we are facing an unprecedented market downturn, and we find ourselves in a unique and pressing situation.....” the email said adding that “more than 80 talented students have yet to secure an internship opportunity, with Cluster 3, the final day of placement week, on Monday, October 16”.
It pointed out that these are students with “outstanding profiles”, and for the institute “stipend is not our concern for now”.The current situation – where many of the batch don’t have an internship offer – has “created a sense of urgency”. The primary goal is to ensure that each student secures “at least one internship offer”.
“Many of them have been inadvertently impacted by circumstances beyond their control,” the mail to various alumni of the institute states.
Modest stripend
Seeking assistance from the “Joka Community”, the placement representative mentioned: “If you or your contacts within your network have internship opportunities within your organizations, no matter how modest the stipend may be, your help can make a world of difference to these students.”
An IIM-Calcutta official told businessline, the 60th batch has 480 students, of which 400 have been placed in Cluster 1 and Cluster 2 of ongoing placement season. Cluster 1 included participation from big banks, financial institutions, consultancy majors, among others. Cluster 2 participation is primarily from conglomerates and big corporates, FMCG majors, software biggies, etc.
“So far 400 students are placed. And we reached out to the alumni for participation in Cluster 3 and to ensure that there are better offers across these 80 students. The placement process is not over yet and will start tomorrow (Tuesday) onwards,” the official stated.