IIM Ahmedabad PGP students have grabbed highest domestic salary of Rs.53 lakhs reflecting 10.4% hike while highest international offer has gone down to Rs.82 lakhs (Rs.85 lakhs at old exchange rate) showing more than 20% dip in international package, reveals the IIM Ahmedabad IPRS audited Placement 2017 report.
IIM Ahmedabad follows The Indian Placement Reporting Standards (IPRS), an effort towards standardizing B-school placement reports. IIM Ahmedabad gets it placement data audited by CRISIL and now by Brickwork Ratings (BWR) which assures the privacy of the individual level data and information. The basic objective of introducing the "Indian Placement Reporting Standards" is to bring in uniformity in the manner in which Indian B-schools report salary and non-salary information related to placements.
The facts and figures shared in the IPRS standard Audited Final Placement 2017 report released by IIM Ahmedabad reflect many surprises and twists on various counts including ups and downs in highest and average compensation packages in IIM Ahmedabad placement 2017.
While the IIM Ahmedabad students of flagship PGP 2015-17 batch have grabbed 10% higher salary at Rs.53 lakhs in domestic pay package as compared to last year with Rs.48 lakhs, the highest International Package has gone down by more than 20% and stood at Rs.82 lakhs at current exchange rate as compared to Rs.1.03 crores last year, although the exchange rate has also played its role in downsizing the placement package as the USD to INR exchange rate has gone down from Rs.67 to Rs. 65 in last one year.
Releasing the audited PGP final placement 2017 report dated Aug 31, 2017, IIM Ahmedabad revealed that while the domestic pay packages have increased this year, there is downtrend in the international placements.
Placement 2017: Salary Data released after Audit
Placement 2017 at IIM Ahmedabad got over with the beginning of year 2017 in the month of February in 3 clusters. However, IIM Ahmedabad releases the final placement report with salary statistics only after the entire placement process is audited as per IPRS standards after 6 months of the completion of placement process.
Accordingly, IIM Ahmedabad has released reports of Final placements for PGP, PGP – FABM and PGPX programmes for the year 2017, prepared as per the Indian Placement Reporting Standards (IPRS). IIM Ahmedabad adopted the IPRS on June 18, 2011 and this is the seventh year the institute is providing the standardised reports. As per the norms of the IPRS, these reports have been audited by Brickwork Ratings, an independent third party auditor.
386 students sought placement
Out of total 400 students eligible for placement, 386 sought placement through IIM Ahmedabad. 14 students did not seek placement through the institute and preferred entrepreneurship, sought placement outside the campus and did not seek placement for other reasons.
IIM Ahmedabad Final Placements 2017: Last 3 year trends
Domestic Placement 2017: Highest and Average salary up
At the domestic placement front, IIM Ahmedabad has recorded 10.4% hike in maximum salary apart from recording an increase in average salary over last year. IIM Ahmedabad has gained by Rs.5 lakhs per annum in highest placements in 2017 and by Rs.44000/- in Average Salary. Comparative analysis of last three years’ trends will bring home the facts-
|Salary component||Placement 2017 (Rs.in lakhs)||Placement 2016 (Rs.in lakhs)||Placement 2015 (Rs. in lakhs)|
International Placement: Highest & Average go down
International Placement 2017 has a surprising trend. The maximum pay packages during last three years have seen ups and downs alongwith average pay packages which are showing a downtrend since 2015.
Following are the major trends in IIM Ahmedabad placement process 2017- ( 1 US$=INR67 for all the placement years; current rate 1 USD=INR 65)
|Salary component||Placement 2017 (Rs.in lakhs & in USD)||Placement 2016 (Rs.in crore/lakhs & USD)||Placement 2015 (Rs. in lakhs & USD)|
|Maximum Salary||Rs.85.27 lakhs ($127,275)||Rs.1.03 Crore ($153,568)||Rs.73.89 lakhs ($110,284)|
|Average salary||Rs.45.62 lakhs ($ 68,104)||Rs. 49.00 lakhs ($73580)||Rs.53.42 lakhs ($79738)|
|Median salary||Rs.43.78 lakhs ($ 65,351)||Rs. 43.78 lakhs ($65342)||Rs.49.08 lakhs ($73250)|
|Minimum salary||Rs.19.73 lakhs ($ 29,448)||Rs. 23.52 lakhs ($35112)||Rs.43.78 lakhs ($65351)|
It may be noted that current exchange rate is around 1 USD=INR 65+. If we take into account the fluctuations in exchange rate there would be some impact visible due to this change in exchange rate and the INR equivalent for current placement will go down further. However, compensation packages in terms of foreign currency have also gone down. The maximum salary which saw a spurt in placement 2016 has come down in Placement 2017. The amount is still more than Placement 2015. On the other hand the average salary has consistently gone down in last three years in terms of U S Dollar reflecting a downward trend in international placements.
3 cluster placements 2017
Sharing the key highlights in the placement 2017, IIM Ahmedabad has clarified that the placement process for the graduating batch of the Post Graduate Programme (PGP) in Management was successfully completed within 3 clusters. The last one was held on February 19, 2017.
The placement process was conducted in two stages. The first was the laterals process where firms interviewed students with prior work experience and offered them mid-level managerial positions.
About 50% of the batch was eligible for lateral placements, which provided students an opportunity to optimally leverage their work experience. The laterals process included firms from diverse sectors such as Analytics, Banking & Financial Services, Management Consulting, Consumer Services, Internet & E-commerce, Pharmaceuticals and Technology. Firms which participated in the laterals process included Aditya Birla Group, Alvarez & Marsal, Amazon, Flipkart, Google, Microsoft and Star TV India among others.
The second stage was the final placement process where firms were grouped into cohorts based on the profile offered, and groups of cohorts were invited to campus across different clusters.
Amazon emerged as the top recruiter at IIM Ahmedabad in placement 2017 having selected 18 students, McKinsey made 15 offers, Goldman Sachs made 9 offers. In sales & marketing domain HUL made 7 offers followed by P&G, SC Johnson and Samsung with 6 offers each.
TAS was the largest recruiter in General management domain with 10 offers. Sprinklr extended 9 offers in consumer Tech.
More recruiters with more offers
More than 120 recruiters participated in the placement process in 2017 including the laterals process. Companies from multiple sectors across different geographies hired candidates for a wide range of functions with more offers.
The placement process, with the concept of “dream application”, allowed students to choose the sectors and functions of their choice for their final placement. Students are provided with the flexibility of making a “dream” application to any firm of their choice even with an offer in hand. This gives students the freedom to build careers in sectors of their preference.
IIMA: Fostering Entrepreneurship
IIM Ahmedabad has encouraged students to take up entrepreneurship as a career and this year, 8 students opted out of the placement process to start their own ventures. The start-ups are in various sectors like adventure tourism, data analytics, e-commerce, food processing.
In line with its culture of fostering entrepreneurship, IIM Ahmedabad offered a placement holiday to these students, wherein they will be allowed to participate in placements in one of the next two years in the event that their venture does not work out.
Stay tuned to MBAUniverse.com for more updates on IIM Ahmedabad
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