New IIMs Placement 2017: Rise in salary at IIM Rohtak, Trichy, Ranchi offers hope for IIM Amritsar, Nagpur, Visakhapatnam

With the placement season 2017 over recording rise in highest and average salary packages in comparatively 6 newer IIMs, established 7 years ago, the newest 7 IIMs have all the reason to smile as not only their 1^st batch has been placed decently but the achievement has also kindled hope to excel in the field of MBA education and do much better in next 4-5 years.

Out of 13 new and newest IIMs, 9 have wrapped up their final placements before commencing the next academic session of 2017-18 for PGP 2017-19 batch. Early achievers in finalizing their Placements 2017 among the new IIMs have been IIM Rohtak, IIM Raipur, IIM Trichy, IIM Visakhapatnam followed by IIM Ranchi, IIM Nagpur, IIM Kashipur, IIM Udaipur, IIM Amritsar. The 4 newest IIMs namely IIM Bodhgaya, IIM Sirmaur, IIM Sambalpur, IIM  Jammu are yet to complete their final placement 2017 and most probably would be completing it to a large extent shortly, if not fully.

Read here… Top 20 B-school Placements 2017 Trends: Average salary up by 5-10%; Top B-schools grow while middle order stagnates

Placement at par in New IIMs with good PGDM B-schools
In 7 years of their imparting management education, the new IIMs namely IIM Kashipur, IIM Ranchi,   IIM Raipur, IIM Rohtak, IIM Trichy, IIM Udaipur have achieved the well placed standard of Return on Investment (RoI). The rising salary trends in Placement 2017 in these 6 IIMs are at par and in some cases, go beyond the Placement trends in highly ranked PGDM B-schools like  IMI, IMT, BIMTECH, TAPMI, XIMB among others.

By achieving a scale of an average salary of about Rs.13 to 14 lakhs within 7 years of their establishment, the placement trends at new IIMs reflect that in a few years from now they might surpass even many of the top PGDM B-schools. Besides, the MBA from these new IIMs is not as expensive as in many other older IIMs and PGDM B-schools. The fee in these 6 new IIMs is in the range of Rs.12 to Rs.14 lakhs inclusive of accommodation whereas the fee structure of good PGDM B-schools and older IIMs stands in the range of Rs. 14 to 21 lakhs.

Comparative study of Placement 2017
If we compare the Placement 2017 in these 6 new IIMs with very good PGDM B-schools, they stand at par and in some cases exceed the salary secured by many of them:

** Placement 2017 over but salary data to be released after audit, so the 2016 data shared

3 of the Newest IIMs complete Placement 2017
It is also a matter of rejoice for the students at the newest IIMs that the inaugural batch 2015-17 at these newest IIMs has been well received by the industry with highest and average salary at par with number of good PGDM B-schools.  There are many good and old PGDM B-schools who are trailing behind in placement 2017 as compared to these newest IIMs.

Out of 7 newest IIMs, 6 started operation in 2015 and one in 2016. It remained doubtful whether their students would be well accepted by the industry. However, the first 2015-17 batch in each of these IIMs has grabbed good placement opportunity in 2017. While 3 IIMs have already completed their final placement 2017, rest three are in the process and would be completing it shortly.

IIM Amritsar, IIM Nagpur and IIM Visakhapatnam have completed their Placement for the class 2015-17, the first batch at these IIMs. IIM Bodhgaya, IIM Sambalpur and IIM Sirmaur are in the process of concluding their final placement. IIM Jammu began its operation in 2016 and would be finalizing its placement in 2018, a year later.

High placements kindle hope for future
If we compare the placement 2017 statistics of these very new IIMs with a few long established PGDM B-schools where placement process is over, we may find that these newest IIMs have done better and have grabbed higher average salary.

Newest IIMs spread hope among MBA aspirants
There is no doubt that the first batch of these newest IIMs had a very small intake in the range of 40 to 60 students but the good placement season at these B-schools have motivated them to increase their intake further. For example, IIM Amritsar has increased the intake to 105 students with effect from 2016.

Another key feature is the Return on Investment in these newest IIMs apart from carrying the brand IIM with them. The fee among the 7 newest IIMs is around Rs.10 to Rs.11 lakhs. After completion of the management programme at these IIMs, if you get a salary package in the range of Rs.10 lakhs to Rs. 17 lakhs as has happened in Placement 2017, it is a good beginning of the career.

One of the important points to note is that these newest IIMs offer you admission at a CAT score much lower than older IIMs. If you score around 80-85 percentile in CAT, you can expect to get shortlisted by these IIMs for final admission round.

Not only this, a few of these newest IIMs like IIM Sirmaur, IIM Jammu, IIM Nagpur have not conducted PI round for admission to PGP 2017-19 batch. If you are eligible with your CAT 2016 score and have expressed your interest for admission in these IIMs, you can still wait for receiving the call from one of the IIMs provided you have completed the formalities of admission process.

If you are planning for MBA and have converted the call to one of the new or newest IIMs, please check all the pros and cons before foregoing your admission opportunity to brand IIM.

Stay tuned to MBAUniverse.com for more updates on MBA Placement trends 2017

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