Internet ventures jump into IIM hiring fray. But, will it be enough?

For Indian Institute of Management grads moping about the dearth of jobs this hiring season, cheer up, some new job opportunities have just opened up.According to anEconomic Times report, e-commerce companies, which are relatively new on the IIM placement scene, are hiring in large numbers, in contrast to other traditional recruiters.

[caption id="attachment_218425" align="alignleft" width="380" caption="The IIMs have been prodding students to look beyond traditional recruiters offering high salaries. Reuters"][/caption]

Armed with interesting pitches and money raised from venture capital and private equity firms, many e-commerce firm such as Redbus, LetsBuy, Via, Valyoo Technologies and Snapdeal, all first-timers at IIM campus placements, have picked up students at salaries ranging between Rs 8 lakh and Rs 16 lakh.

Online consumer electronics retailer LetsBuy, which recently merged with Flipkart, plans to hire up to four students from IIM-Lucknow, the report said. Myntra, the online fashion retailer, on its second trip to the IIM campuses, has made nine offers this year at IIM-Lucknow and the Indian School of Business.

More from Business

The hiring season has started in full swing and the outcome will be known in a few days. For now, the fortunes of candidates seem mixed, with some institutes having better luck in placing their graduates than others.

However, even those lucky enough to get offers are not likely to get stunningly large pay packets, given the sluggish state of the local and global economy.

Indeed, hiring by financial companies, from banks to insurance companies, are likely to be lower because of the dire state of the financial sector around the world. Indeed, most large global banks continue to be in employee-axing mode. Some media reports suggest that many graduates could find jobs with consulting firms, which seem to be in a buoyant hiring mood as well.

Read full report here.