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Joka to Wall Street

Calcutta, Nov. 8: The summer of 2007 will see over 40 students of IIM Calcutta taking investment calls on Wall Street and London Stock Exchange.

Summer placements in Joka have never been hotter. In a record of sorts, 32 international firms lined up at the premier B-school to lap up the best of the B-brains with internship offers ranging from Singapore to New York and London to Hong Kong.

“Merrill Lynch was the biggest recruiter selecting 12 students, while Lehman Brothers and JP Morgan hired 10 each for positions in New York, London and Hong Kong. We also had Credit Suisse and Fortis as exclusive IIM Calcutta recruiters this time,” said Mihir Kulkarni of the institute’s external relations cell.

Over 85 domestic and international firms are taking part in the week-long placement process, which started yesterday. Slot Zero, the premier recruitment slot, saw 32 foreign firms making 130 offers, 90 of which were accepted by the B-school’s students.

Close to a third of the batch was placed by today as IIM Calcutta hosted the highest number of investment banks in the summer placements.

The profiles offered included structuring, sales and research roles related to debt and equity market products in the global financial markets.

“We come here with the expectation of good placements in the investment banking sector, and this year the placements have been better than expected,” said Vivek Mohan, offered a placement in the investment banking division of Goldman Sachs in London.

Goldman Sachs made its debut on the Joka campus this year. Morgan Stanley International, recruiting for its London office, also chose IIM Calcutta as its exclusive recruitment destination outside of US Ivy League B-schools. It selected eight students.

International stipends for the two-month stint will range from $12,000 (Rs 5.36 lakh) to $22,000 (Rs 9.83 lakh). For interns based in India, the stipends will be between Rs 90,000 and Rs 4.5 lakh.

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