Some Indian Institute of Management (IIM) students have rejected international offers, owing to the expected curb on H1B visas. This, at a time when IIMs, reeling under the pressure of the global economic downturn, are struggling to secure placements for their students in the ongoing placement process.
The international economic scenario is making students to opt for "more secure" domestic jobs. According to insiders, some students are apprehensive about the situation regarding curbs on H1B visas and hence are not eager to take risks.
"33 international offers were made in phase 1 of the final placement session this year. However, some of them were rejected by students on the pretext of the H1B visa issue. Students were apprehensive that if the policy regarding H1B visa curb gets passed, they would land in a risky situation and would not be able to stay in the US for long," commented an IIM-Calcutta (IIM-C) spokesperson, on the condition of anonymity.
"In accordance, there have been instances of students rejecting lucrative international offers, mainly from the banking and financial sector, and opting for more secure domestic jobs this year," noted the spokesperson.
IIM-C has already seen 207 offers over the four days of phase 1 of the placement process.
According to insiders, last year, there were no rejections of international offers by students.
Meanwhile, students of IIM-Lucknow do not appear apprehensive about international offers.
"International offers on our campus were made by companies that are truly multinational and are based in India as well. Hence, our students are quite secure," commented Sushil Kumar, chairman-placement, IIM-Lucknow.
IIM-Ahmedabad refused to comment on the issue.
Though salary figures are yet to be disclosed, IIM-C is not expecting the highest domestic and international salary offered to students to go down this year.
"Some of the international offers were of Rs 1 crore upwards. However the exact number of such offers is yet to be known," commented the spokesperson from IIM-C. Last year, the highest international salary package at IIM-C was Rs 1.36 crore.
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