AHMEDABAD: The US meltdown has not only triggered turmoil in the world economy, it's creating ripples at micro level too. For instance, students of Indian Institute of Management, Ahmedabad (IIM-A ) are rattled by bankruptcy of Lehman Brothers and buyout of Merrill Lynch.
Batch of 2009 has started chalking out alternative career plans. The dilemma they're facing is - what next, if not finance. Finance has topped the popularity chart among students as a sector for the last four years, with highest number of offers and heftiest salaries. This year, the sector is set to take a dip.
"The biggest anxiety is whether recruiters from that sector will come, and if they do, will they be able to make as many plum offers as in the past," says a student who was keen on finance, but is now looking at other sectors.
Even during summer placements, of the batch, 35.9 per cent students accepted offers from financial and investment banking firms, 22.4 per cent went for consulting, marketing, operations and general management attracted 20.5 per cent, private equity eight per cent, with rest going for other areas. In fact, during summer placements, Lehman Brothers had 15 IIM-A students and Merrill Lynch 13 interning with them.
"Not just the maximum number, but good students opt for finance. Now, they will have to face lot more competition in other sectors . This will give recruiters better bargaining power, where they can pick the best and offer less salaries," says another student who fears the US crisis will harm his prospects.
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