Despite that the convocation ceremonies 2013 at most of the top B-schools have been concluded by now, a number of students from passing out batch at many top B-schools are yet to find a job for themselves. The grim placement scenario is reflected in B-school’s delayed release of placement report this year.
The placement report 2013 from many top B-schools is still awaited. Even the Top B-school like IIMs and ISB shave found it difficult to make 100 per cent placement for their passing out batch this year. B-schools, however, argue the cautious approach of recruiters in a slowing economy. This article of MBAUniverse.com reflects on the status of placements 2013 at Top B-schools in India.
Indian Institute of Management (IIM) in reverse gear
While Top IIMs like IIM-A, IIM-B, IIM-C either chose to avoid releasing their placement report or released part of the same, many of the IIMs are continuing rolling placement to place all their students.
For example, IIM-Indore conducted their convocation without a placement report and continuing the recruitment process at its campus. Similar is the situation with IIM Lucknow and many new IIMs like IIM Ranchi and IIM Kashipur. According to the institute sources, these institute may continue the placement process till May end.
Some of the new IIMs, however, announced placements with IIM Trichy and IIM Raipur releasing their reports which mention average salary of Rs 10.92 lakh and Rs 12.03 lakh for their respective passing out batch. The average salary at IIM Raipur, however, dropped from Rs 12.94 lakh in 2012 to 12.03 lakh this year.
Placement report at Top PGDM B-schools yet awaited
While institute like IIFT Delhi, FMS Delhi, JBIMS, XLRI, SPJIMR, have released their placement reports, top PGDM institutes like MDI Gurgaon, IMT Ghaziabad, IMI, BIMTECH, FORE School of Management, SIMSREE, LIBA, IFIM are yet to release their placement report 2013.
Most of these B-schools, according to their placement offices, are continuing with their rolling placement and hope to come up with final report by May end.
Average Salary up by only 5-7 per cent or less:
Though some of the top B-school have formally released their placement report, the crisis is apparent in the average salary offered to the batch. In most of the cases, average salary of 2013 has either remained at the level of last year’s average salary figure or increased by just 5-7 per cent.
While average salary at FMS Delhi has dropped from Rs 16.34 lakh in 2012 to Rs 16 lakh this year, the median Salary at XLRI this year stood at Rs 16.2 lakh, a little less than the last year’s 16.28 lakh. JBIMS average salary increased merely from Rs 14.9 in 2012 to Rs 15.3 lakh this year.
While SPJIMR reported an average salary of Rs 16.13 lakh, which is higher than Rs. 15.46 lakh of last year, students at IIFT received an average salary of Rs. 12.40 lakh as compared to Rs.12.1 lakh last year. Students at XIMB had received Rs.11.42 lakh as average salary last year while this year it has increased by 0.40 lakh to Rs.11.81 lakh.
B-schools argue for ‘Academic strength’ and not ‘Placements’
With the placement scenario losing its sheen at top B-schools, the feeling is sinking in at B-schools as well. The B-schools are arguing that academic strength of a B-school should be the yardstick for MBA Aspirants to choose their MBA programme and not the placement data.
“B-school are meant for creation, dissemination and application of knowledge, therefore the academic strength of a B-school capable of taking this motto forward should be the criterion for students and the placement reports,” said Dr Pritam Singh, Director General, International Management Institute (IMI).
He added that placement data should not play a major factor while MBA admission as many B-schools published fudged data which is not reliable. “While MBA Aspirants go by the placement data released by an institute, there is no mechanism to verify the same,” Dr Singh said, adding, “Many a times their admission decision based on the placement data leads them to a wrong B-school.”
Stay tuned to MBAUniverse.com for more news and updates on MBA Admissions at Top B-schools in India.
