Gandhinagar, Feb 14 (IANS) The new placement system for the final year post-graduate programme students of the Indian Institute of Management-Ahmedabad (IIM-A), introduced from the current academic year, received an enthusiastic response as it began here Sunday.

The new system sees the placement process being conducted over continuous weekends called 'cohorts' with each cohort hosting firms offering similar roles, opportunities, offers, profiles, salaries, locations etc. Several cohorts comprise a cluster.

The process continues for about six to eight weeks, and replaces the system followed earlier where recruiting companies came together at the campus to interview eligible candidates and complete the selection process at a stretch over continuous three to five days.

The first cluster had companies across four cohorts - international investment banks, global strategy consulting, global niche consulting and private equity/venture capital.

Campus recruitment has reported an improved response with the return of several investment banks like Bank of America-Merril Lynch who had skipped the process last year.

Boston Consulting Group and McKinsey & Co. made eight offers, including pre-placement offers.

'While as per institute policy we do not release the aggregate number of offers, almost all recruiters are making more offers than last year,' an IIM-A spokesman said, adding the students found the new process more relaxed and were able to make better choices.

Placement committee chairman Saral Mukherjee said that they were a little apprehensive as this was the first time that the new system has been introduced.

'We are now sure we have moved in the right direction. The recruiters have expressed satisfaction with the new process and students too have interviewed with the firms of their choice,' he added.