IIM-A began its summer placement, where the Class of 2011 tried to ensure it gets to spend a productive time in summer jobs next April, on a positive note. Recruiters are back, and they are hiring, indicating they might be back to hire for full-time positions four months from now.

The mood at campuses is optimistic. A note of caution, though, comes from an unlikely source – the Nov 9 issue of Newsweek magazine, out on news-stands, warns that we might be in the next financial bubble.

The spike in stocks, and an unquestioning faith in emerging markets, is creating an echo bubble, says the news magazine.

This means the Indian job market, and graduating students from business and engineering schools, need to be cautious of what can be expected when final placement time comes around. A financial bubble, as we have seen, affects India and the job scene here. Though it appears placements in February 2010 may be better than what was experienced in the stretched and dismal placement season of 2009, student placement committees need to continue to work hard to spread the net as wide as possible when it comes to inviting recruiters.

And students need to keep expectations of salary in check, and go for good, solid profiles, even with lesser-known recruiters.