Navi, robotics company Addverb named among startups vying for B-school talent

Startups in fintech, HR technology, robotics, and software-as-a-service are picking up candidates from top management schools, despite sluggish private equity and venture capital funding in the sector. It offers a niche profile and competitive compensation. .

While top management institutions like the old Indian Institute of Management were able to get most of their students jobs in companies, other top institutions struggled to successfully complete placements and offered new jobs to new students. I had to reach out to startups. Driving in difficult macroeconomic conditions.

“We are focused on attracting top talent from universities and business schools, and we are investing heavily in building relationships with these institutions.This year, we are hiring more than 100 people for long-term internships. We have hired a number of talented people,” said Chief Human, Abhishek Mehrotra. Head of resources at fintech startup Yubi (formerly CredAvenue).

According to the final employment report of the older big IIMs like Ahmedabad and Bangalore, BrowserStack, a SaaS unicorn, has been hired by both campuses.

Jewelry start-up BlueStone, fintech start-up Navi, merchant platform unicorn Pine Labs, and online payments company Simpl are among these 2, in addition to more established companies such as Flipkart and Myntra. These are some of the startups that have attracted graduates from two campuses.

Startups that graduate from business colleges are competing with established companies with higher compensation packages.They offer between INR15 and INRAn average of 35 million yen for management trainees. In some cases, your niche profile may be your biggest business card.

Indeed, after the post-pandemic recruitment frenzy, the number of startups visiting B-schools has decreased this year, with many universities reaching out to B-schools struggling to find jobs. A member of the Gore School of Management’s placement team said, “We have reached out to start-ups (start-ups) and looked at placement reports published by tier 2 and 3 universities over the past few years to find out which companies we have missed. I checked to see if it was there,” he said.

While most students were keen to join established companies, young IIMs like Tiruchirappalli and Rohtak knew they could not afford to ignore start-ups given the prevailing stress in the job market.

“Profile and nominations are good. Students preferred more established companies, but this year has been a difficult year, so we called up small and large startups,” said a member of IIM Tiruchirappalli’s placement team. said. Established in 2011 in Tamil Nadu, this university has just completed recruitment.

Ajay Goyal, co-founder and CEO of Elekult, will be joining the B2B companies and B2B institutes this year from management universities such as the Faculty of Management Studies (Delhi University) and the Indian Institute of Business (ISB). , said it will hire candidates for growth sectors. Marketing Profile.

“We have been contacted by business schools such as IIMs in Indore, Rohtak, Kozhikode and Sirmaur via email and have also been approached for interviews by ISB. We are interviewing candidates on various profiles,” Goyal said.

Apart from IIMs, several B-schools are struggling in the final stretch of student numbers. Weak macroeconomic conditions, as well as a pause in hiring after two years of frenzied hiring, are contributing to the current economic slowdown. Fintech and edtech companies have increased headcount at breakneck speed during the pandemic, only to cut thousands of jobs in 2022 and 2023, making many B-school candidates wary of joining these companies. Became.

Indian tech startups raised $2 billion in January-March 2024, down from $2.3 billion in the previous quarter, according to data from market intelligence platform Tracxn cited in Mint’s previous report. At the same time, the number of funding rounds has fallen to its lowest level in three years.

“Addverb has built a niche talent pool compared to other aggregator companies by hiring talent for its robotics team from top business schools in India. “We are the first company in the country to create a campus recruitment program,” said Kanupriya Verma, Chief Human Resources Manager, Addverb.

Usually, B-school campus placements are completed by February, but this year many non-IIMs have either just finished their placements or are still struggling with the last few schools of the 2024 batch.