IIM Placements are like cattle fairs?

While the country debates the moral hazard of politicians in making a strong Lokpal, I would like to draw your attention to another instance where a similar moral hazard is always ignored. If you are a young graduate, or any one else looking for a job your would know what I am talking about.  You guessed it right, this is HR professionals telling them to not focus too much on the money part, or to sticking around for a long term and career vs job BS. Another personal anecdote is a recent rant by a the HR head of a certain reputed group, frustrated because he found not takers for job offers from his group companies at India's premier B School, comparing placements to cattle fairs.

One would do well to try to identify agency costs to what one reads or hears in the media these days.