Amidst fears of market meltdown affecting hiring by companies, IIM-Kozhikode has completed summer placements for its 261-strong class of 2010 as per the schedule. The institute not only bucked the general recruitment blues, but improved its performance on various fronts over the previous season.

The number of companies participating in the placement went up to 102 from last year’s 66. The highest foreign stipend recorded an annual increase of 50 per cent and the top domestic pay managed to retain last year’s figure.

Making a departure from the trend of IIM students opting for corporate majors for summer placements, 22 IIM-K students have gone for assignments with start-ups, which are monetarily less attractive, but academically rewarding.

“What makes the summer placement significant was that the institute could find placement for the entire batch in a year when the student intake was increased by 42 per cent,” said Prof Keyoor Purani, chairperson, placement cell.

“Many had feared that the campus placement would be adversely affected with the global economic crisis and with several firms resorting to layoffs and recruitment freezes. Only two regular head hunters had opted not to recruit from the institute as they have shelved all appointments,” said Purani.

A sector-wise break-up shows that banking, equity and financial service sectors accounted for 27 per cent of recruitment, despite those domains reportedly wading through a bad patch. Media and real estate companies too participated in the placement.