Statistics as Benjamin Disraeli found out is the worst of three lies- lies, damn lies and statistics. Probably this is the reason an audit is needed for statistical presentation by an organization or institution. B-schools publish placement data year after year and a few of the top rated ones like IIM A, B, C publish it after getting it duly audited.
But why in God’s name is the need to publish the MBA placement data by top ranked, middle ranked and not so highly ranked B schools? Have you thought over it?
Yes you are heading well in the right direction. Placement data is supposed to guide you in your decision whether to take admission in the particular B school, to enable you to calculate the Return on Investment or forget it. If the source is not trustworthy or conceals the facts, it’s difficult to ascertain. Rarely achieving 100% placement the B school inflates its average placement salary, creates hype on recruiters, misrepresents sectoral and functional placement data and hides the period of placement.
So do you get the transparent information or something is concealed or misrepresented? What gives you all the goodies that you wish to read, is published for you. What could give you a boring reading session and what could put you on alert and make you think twice after reading the other side of the story is never served before you.
The stage comes when recurring lies take the shape of truth. Despite concealment of facts whatever is shared, we prefer to believe it without verifying it since it is coming right out of horse’s mouth. Even the top B schools try to avoid publishing adverse scenario in their placement season.
MBAUniverse.com strongly suggests to cross check the following 5 truths (or 5 lies!) before believing the MBA placement reports of B schools
100% placements: A myth
Agreed that top ones like IIM A,B,C; XLRI, SPJIMR get 100% placement year after year and number of their candidates also do not participate in placement process. But it may not be true to other b schools like IMI, IMT, SIMSREE, KJ Somaiya, BIMTECH. Although they may not claim 100% placement but the placement reports of B schools smartly avoided publishing the claim of 100% placement in 2014. The confirmation of 100% placement to the participating students is yet to be received for placement season 2014 from number of B schools.
Be on alert! If you have got the admission offer from any B school, don’t think that your luck has smiled and you are getting into it. The struggle is yet to begin as you have to emerge a winner which could be possible if you are among top 20% students of the flagship MBA programme as this could assure you a good placement.
To get the authentic Placement data m Click Here Top B school Placement Reports 2014
Average placement: Salary is inflated
How do we calculate average domestic pay package in total placement? Is it something too technical? Don’t you divide the total pay package by total number of participating students? If yes, this is time to get surprised?
B schools (we don’t mean only second or third tier ones, it includes highly ranked also) can inflate this average by clubbing domestic and foreign placement. If the average domestic placement is Rs 5 lacs and foreign placement is Dhs (UAE currency) 1 lac (Rs.16.5= Dhs 1), the average will increase to Rs.16.5 + Rs.5= Rs.21.5 lacs which is supposed to be a great USP of the institute.
These are the ways and means to project a rosy placement picture. Interestingly these international pay packages are offered to almost negligible or very few students and sometimes off campus placement data is included for calculation of average.
Another striking feature is that Indian Rupee has lost by more than 15% during last 1 year and the placement even at the same package will substantially increase the average in case international pay packets are also included.
The positive impact made among the admission seekers on the basis of such inflated average may prove to be deceiving unless verified. It will be better to verify the domestic and international salaries offered in the placement separately.
If you have any complains about B- schools, write here: Register your Complain about B-schools
Hype with Recruiters’ names and numbers
Aura is tried to be created by B schools by publishing names of top brand recruiters. These recruiters could be private top recruiters, government or public sector companies who go through their well defined process, if they visit for campus recruitment. Some of these companies have their associates, subsidiaries, sister concerns with similar sounding names. B schools make a smart move by contracting or expanding their names to create buzz among the prospective students. On the top of it, their names are highlighted even if they are neither the top recruiter nor offered any substantial pay package.
Examples could be cited for such organizations like SBI life Insurance. The name is sometimes published as SBI or State Bank of India creating confusion.
Sometimes the registered numbers of recruiters are more than those who really visit the campus for placement. While the published number could be for former category and the latter category may not be shared.
Please do remember not to believe everything regarding the names and number of recruiters. You should verify the truth before proceeding to act on such information.
Sectoral and Functional placement data: Strategy to Drive students to fill the vacant seats
How to verify and cross check that companies made more placement in BFSI or Marketing sector; Sales & marketing, IT or Operation function, except to believe the graphical and statistical presentation published by the B school? The idea is to drive more students in that functional and specialization domain where more seats could be lying vacant. Students who fall prey to the trap may not get another chance to switch over to other MBA functional domain.
Sometimes a new programme is proposed to be launched with certain MBA specialization. More focus on functional placement is given by the B school even before the programme is launched, citing recruiters who recruited for the particular role from the b school.
Instead of going by the B school publications, make sure about the profile of the recruiters who visit for placement, how many of them belong to the published sectors and what is the number in actual and not percentage of students who have been placed in the related company at the campus placement.
Period of placement: Why to hide
Most B schools have published ‘highlights of placement 2014’ but have not shared how long it took to complete (If at all complete) the process. Apart from not sharing how many students have been placed, they wouldn’t share when they started and when the b school thought it proper to call it a day for the placement process. Those who complete it in a record time like XLRI and IIMB proudly announce that they completed the process in 3-4 days (No doubt they can do it) but other highly ranked institutes who started the placement process as early as in October 2013 have shied away from publishing this information.
If the placement season at a B school continues for 8-9 months, how credible it would be to shape my future could be the next question shot up on the relevance of learning experience in the B school by an MBA aspirant.
The deliberate concealment of any information on placement by B school may put a canny MBA aspirant on guard regarding the antecedents of the institute. While the B schools may not publish the gloomy or negative side of placement process, the students are expected to make sure from all the available sources like social and education sites on internet, published material and if possible alumni of the B school to ascertain the facts before opting to take admission.
If you have any complains about B- schools, write here: Register your Complain about B-schools
To get the authentic Placement data m Click Here Top B school Placement Reports 2014
Are you the interested? Click below to know more:
Foreign MBA: IMT Dubai |
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MBA Colleges in Delhi NCR |
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