If you are a startup looking to hire some management graduates, this might be the best time to do so.

Turns out, that the lull in the job market is a doing some good. Top management schools are encouraging their students to take up startup jobs. Going by what they’re saying, the response has been pretty good so far.

Take for instance, the Indian School of Business (ISB). The B-school, one of the top ranking private management schools in the country has begun a startup recruitment drive. So far, nearly 150 students have participated. ISB took in more than 750 students to the class of 2013.

“A majority of students expressed willingness to take a  pay cut with respect to the industry average or accept a salary-equity combination if given an opportunity to work in a successful startup,” mentions Shashaank Shekhar Singhal, a student who is the Vice President of the entrepreneurship & venture capital club at the ISB.

Other top business schools, including the Indian Institute(s) of Management have been reaching out to startups to supply interns. Their new love for startups is not only a reflection of the increasingly positive attitude to startups  but also in anticipation of the weak hiring outlook for the next year.

According to a study by ET which looked at 16 institutes across the country, total hiring by top 10 recruiters in the 2012 placement season dropped to 673, down by 19 % from last year. The study says that big brands like ICICI Bank, Infosys, Cognizant, Deloitte and P&G hired fewer students this year as compared to the previous year.

Another big recruiter, the country’s $70 billion Information Technology industry, is also seeing trouble ahead and has slashed hiring compared to last year. In a story, aptly headlined “Good luck finding that tech job,” the Wall Street Journal says that engineering graduates might also find it tough to find jobs this year.

Infosys, India’s second largest IT services company postponed hiring 13,000 new recruits. Tata Consultancy Services, the largest Indian software company, is planning to recruit 25,000 engineers this year as compared to 43,000 offers made last year.

If you have been headhunting, the ISB’s startup recruitment drive might be a good place to start. Or maybe you should pay a visit to our Job board.

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