IIM Final Placement Figures : To Reveal Or Not To Reveal Is The Question

case

I guess Desiguru must have been really charged up to misinterpret my statement.
Its only natural that the potential crorepathis will want inputs to set the benchmark. So obviously Desiguru must be a contender !! The first pg thru iim placement route ?

Case

convolutedsignal

Quote:

Originally Posted by case

I guess Desiguru must have been really charged up to misinterpret my statement.
Its only natural that the potential crorepathis will want inputs to set the benchmark. So obviously Desiguru must be a contender !! The first pg thru iim placement route ?

Case

Case I don't think you have read DG's earlier posts

. Anyway read one more report today on the prefernce for Indian firms over foreign ones and "finance' jobs over investment banking

. Who in his right mind will prefer a finance job over investment banking?? And can someone pray tell me what these non investment banking finance jobs are

As to the next question of India vs abroad, its not like these grads work for the Indian army or BSNL. Its clearly a choice between Ibanking and consulting or maybe an Ibank in India. Dunno what the hype is all about. Of course if someone is indeed opting for entrepreneurship over a job, he/she needs to be applauded for the risk taken and the sheer opportunity cost incurred in the decision. But India vs abroad seems like a pretty lame comparision unless the person is staying back over to actually work for an Indian firm. Choosing Mckinsey over JP Morgan (HK) say is not an India vs abroad decision but a consulting vs banking decision. Of course if enough banking offers aren't available then 'finance' jobs may be the way to go

ashishyahoo

No much comments on da issue - I am kinda in support of the salaries not being revealed as they dont make much of a difference acc to me - in any case they are bound to be good enough

(come on guys, dont expect KINGs RANSOMs

)

But its realllly realllly interesting to see DG back to his old self again

- way to go DG

Ashish

anupthomas

It has been a while since I have posted on PG...An interesting topic prompts me to break the break..haha..

My take..placement figures are important. The names of students and firms involved may be withheld, however, the sector, salary figures offered etc may be made public so that prospective students can make a more informed choice.

On a parallel note, I would like to add one thing which I always used to reiterate - placement data should not be used to compare B-Schools. The salary figures offered by companies are defined by two major factors. Demand-Supply equilibrium in the job market and the profile/quality of the students being interviewed. Taking a decision to join a B-School or otherwise because of the past placement performance, will therefore be, not wise. A certain individual having recevied a $300,000 job offer is no guarantee, not even an indication, of the salary figures you might be offered if you decide to join that Institute - because s/he is her/him and you are you. And every year is a fresh year.Therefore, my advice to all - let's grow above placements. When the companies come down, let's give it our best shots. During other times, let's not worry much about it.

Having said this, for people who might consider the placement performance the most important criterion to evaluate a B-School, let the institute give out those figures. Let them take their call. After all, everyone holds a right to information in this country

estranged_gnrs

Interesting Discussion here and good to see DG back in form!

As for few of the IIMs deciding not to disclose the salary figures, I will see it just as a gimmick.Infact, I will say the salaries have never been "revealed" anytime in the history.

If you really wanna reveal..do it full monty.When you quote highest salary or even in case the average salary, please try to educate the junta about the variable and other components which constitute it, and then release those figures.Thats what tranparency is all about.Junta ko batao ki woh IIM ka banda ghar par kitne paise le ke jaata hai .

And if you have taken the decision of not to reveal at all, then whats the point in disclosing the highest salary.Sounds illogical to me!

Having seen the placement process and knowing the games which happen during placements, I wait for the day, when there is more transparency, less fudging of the figures, no tricks with statistics and better managers .

Cheers!

Rohit

MrAnderson

Quote:

Originally Posted by estranged_gnrs

Interesting Discussion here and good to see DG back in form!

As for few of the IIMs deciding not to disclose the salary figures, I will see it just as a gimmick.Infact, I will say the salaries have never been "revealed" anytime in the history.

If you really wanna reveal..do it full monty.When you quote highest salary or even in case the average salary, please try to educate the junta about the variable and other components which constitute it, and then release those figures.Thats what tranparency is all about.Junta ko batao ki woh IIM ka banda ghar par kitne paise le ke jaata hai .

And if you have taken the decision of not to reveal at all, then whats the point in disclosing the highest salary.Sounds illogical to me!

Having seen the placement process and knowing the games which happen during placements, I wait for the day, when there is more transparency, less fudging of the figures, no tricks with statistics and better managers .

Cheers!

Rohit

I agree with Rohit...there shud be better effort frmo the side of institutes in giving out data in understandable formats..the press to publish it in sucha a way that people understand wht it means and not waht is presented in front..and even the junta in terms of looking a bit deeper into figuring out wht the press/b-school is not revealing.

I had the ooportunity to sit thru the placements press conference at iima yesaterday.. and frankly the attitude of the press was highyl disgusting. I feel we have takena step forward in demystifying the 1crore-2 crore offer by stating that the "highest offer" is in a range of 225k usd to 300k usd...with 225 being the figure with the minimum bonus levels..even this took quite a lot of explainign to the pres..and finally i read the 300k usd figure quoted in et/or toi...

Another concern I have felt is that the hype about the huge ibank salaries are creating a scene in the top iims where marketing firms are gettign a bit sidelined..am worried that in a few years there wouldnt be neone joinig up fro S&M roles since marketing firms are not able to match the fin and consults in terms of package. This is sad since we need such diversity in these top instis. Only way out seems to be if students themselves form a clear idea abt wht they want to do in life and follow tht irespectiev of such salary hype fueled by the media a nd lapped up by public at large.

long time no post

andy

anupam will return

Quote:

Originally Posted by MrAnderson

I had the ooportunity to sit thru the placements press conference at iima yesaterday.. and frankly the attitude of the press was highyl disgusting. I feel we have takena step forward in demystifying the 1crore-2 crore offer by stating that the "highest offer" is in a range of 225k usd to 300k usd...with 225 being the figure with the minimum bonus levels..even this took quite a lot of explainign to the pres..and finally i read the 300k usd figure quoted in et/or toi...

Another concern I have felt is that the hype about the huge ibank salaries are creating a scene in the top iims where marketing firms are gettign a bit sidelined..am worried that in a few years there wouldnt be neone joinig up fro S&M roles since marketing firms are not able to match the fin and consults in terms of package. This is sad since we need such diversity in these top instis. Only way out seems to be if students themselves form a clear idea abt wht they want to do in life and follow tht irespectiev of such salary hype fueled by the media a nd lapped up by public at large.

long time no post

andy

Yes, I've reiterated the same point in one my previous posts. The placements @ IIMs are covered by the indian media in a manner most unsuited. With a thorugh bias towards these high flying salaries, most of the ignorant people get a feeling that every damn student at the IIMs end up as crorepatis. This results in more and more aspirants getting lured to these places of academia, screwing their work lives and their alternative growth paths in the process. For some people, the story becomes sour after they join these IIMs, thanx to the media.. they realize they were misinformed.
On the S&M front, I would slightly differ with you. I agree the marketing firms can no way match the compensations offered by the I banks/tier 1 consuts today, but then that doesn't stop serious marketing aspirants from pursuing marketing. To cite an example, a lot of my classmates wanted to be fin experts when they joined this place, almost three terms down.. some of them have become die-hard marketing enthusiasts. These guys don't care a damn what compensations they expect to get after an year, most of them cherish the idea of pursuing a successful career in marketing. I once asked one of my friends (an IIT-D gold medalist, 'stud' in Quants) what really prompted him to choose a career in marketing inspite of having this inclination towards number crunching, he replied, "There is more scope of creativity/out-of-the-box thinking in mktg and I can allow to unleash my talent in this field more than in finance". Didn't make much sense to me

, but as long as we have enthusiasts like him, I'm sure the marketing companies won't have a problem in finding "the correct person for my organization"
Coming back to my first point, probably, it'll take time for the media to understand its skewedness in highlighting placement information (though I think the media will not curb its present practices of highlightling these million dollar figures ), but as long as we are here in this forum... we can surely give the aspirants a more balanced outlook of the placements.

P.S: Congratulations Vimal on your placements

cheers,

-Vengeance

anupam will return

To Reveal or Not to Reveal IIM salary figures:

A lot has been discussed by my fellow PGites from different IIMs on this front. One PGite from Brigade-IIMC says "if security was a problem.. don't take names, what's wrong in disclosing the highest, average, median salary figures?"
Another PGite from the same Brigade says, "Aha.. I know why some IIMs are not disclosing their figures, that's because their placements haven't been great this year.. not as great as some of the other IIMs"

Let me try to answer some of the apprehensions adressed above, but before that my verdict: I respect the decission taken by IIMs not willing to disclose their salary figures. Now for my views:
1) Not disclosing the salary figures have their own merits. Reasons cited in my post above, just to repeat the same thing: The last few years have seen the media ramping up its front pages with the crore salaries obtained by a handful of students. This led to a lot of information asymmetry to the general public. People started thinking, every student in IIMs (on a more serious note 70-80%) turn out to be crorepatis. What this further led to was more and more aspirants taking CAT, lots making personal sacrifices, lots shooing away growth oppurtunities in their current jobs. In short the media "lured" people towards the IIMs.
While it's true that the media also brought to light the median/average salary figures, (supposed to give a more realistic picture of the placements) but the media's promotional efforts at highlighting the million $ salaries had sort of a blanket effect on these true realistic figures. So, fact of the matter is the moment salaries are disclosed, media comes ahead .. cites the "heavy" figures again, the public-misinformation spiral continues.

New approach by some IIMs:

Put a stop to disclosing salary figures -> people stop getting biased from the media ->non-serious MBA aspirants drop down -> IIMs get better students!

Now, I don't have any problem whatsoever with IIMs disclosing their placement figures. If some IIMs disclose the figures, good! heartening to see some IIMs continuing the traditional way. If some IIMs don't disclose the figures.. Good again! an attempt to bring a change in the way the IIMs are perceived to be!
As long as the aspirants get informed correctly, I think the IIMs are doing their job.

Asinine or shall I say mischevious on part of one PGite to say that IIMB had bad finals compared to IIMC. My message to him would be "grow up dude, with 30 odd years under your belly, high time you start looking at this world with some maturity", Firstly, with no figures disclosed from our side, it makes no sense to draw those comparisions... secondly, let's not put this again a B school comparision thing.. everyone knows there is hardly any difference in IIM placements the way the markets functioned this year!

cheers,

-Vengeance

buzzeG

i'v heard or read somewhere that 40% of the iim grads quit their campus jobs in 6 months. is this true? and if it is.. why dont they publish that too

abhi_g1

wat i feel is iims reveal or not everybody knows that u get into iims anbd u will earn alot.forget all the all bonds who r now in iims u tell why u did mba

i know i am being rude but who cares