India’s major top-notch management institutions are a key choice of thousands of aspirants appearing in examinations every year. The management colleges have been simultaneously polishing their curriculums, packages, placements, and much more to offer an ideal experience for the joining aspirants.
However, placements and salary packages are two factors that are considered by every student while enrolling in any management institution across the country.
Major b-schools declare a convert list in April annually. The list features details about the future of every aspirant and the prominent college they can join.
On the one hand, students get a chance to land in their most preferred college, whereas a certain section of students are asked to make a tough choice between two prominent colleges. Placement and salary package analysis are the key aspects considered by hundreds of proficient students before the enrolment procedure.
A management school’s ranking is constructed, keeping in mind distinctive parameters. However, considering the placement activities can provide a glimpse of what the institution can offer to its students.
Numerous tier-1 colleges feature placement figures, curriculum details, specified salary packages, and much more on their respective websites. However, major tier- 2 management colleges do not disclose their data associated with salaries, placements, and other sectors. Therefore, the hidden details hinder the analysis between two institutions.
The average packages of a tier-2 management school can be studied by analyzing the placement activities taken over the years. The accurate figures are, however, not disclosed. Here is a curated list of factors that can be considered while determining the average packages offered by key institutes.
- Comparing the median and the average packages
Certain companies offer high placement packages in tier-2 colleges. This also pushes the average package rate. However, such companies recruit a limited number of students annually. Therefore, considering the median packages rates would be beneficial in understanding the placement graphs and statistics.
Major top-notch management institutions under the NIRF management ranking 2017 provide an insight to the median salaries offered to the students. By analyzing and comparing the median and average salary packages, a student can understand the idea of outliners.
However, many times the international packages ae also converted into Indian rupees. This project an increase in the average salaries. Therefore, the digits might portray a different scenario.
- Considering the profile
The majority of b-schools offer salary packages based out on the profiles of the student. Experience of an eminent management student adds bonus points to its profile, and hence, the probability of receiving an exceptional package increases.
However, a fresher would fail to grab the desired package due to the lack of real corporate experience. Specializations, in a certain sector, also creates an impact during the placement procedure.
Considering a college as per your specification will help you in polishing your subjects and increasing the chances of landing in the desired corporate firm. A student looking for a finance career will fail to get the desired placement if he joins an institution known for operations.
Therefore, grabbing the desired package would be difficult in this case. Drilling down to the placement reports as per the specifications can provide insight into how the industry works.
Considering the annual salary, digits would be tough based on the above aspects. The majority of information is not disclosed, and a student has to dig deep to find the relevant sources.
Therefore, creating a network of eminent people can help in knowing how the industry works and the salary packages offered by numerous management schools. Here is a curated list of ways by which a student can understand the salary and placement patterns across different institutions.
- Building an alumni network
The alumni network would be a key strength in grabbing the desired information. The alumni network is a major strength of every b-school and helps in governing certain aspects of it. The career profiles of alumni can portray your growth during a certain number of years, and the salary offered.
Knowing about their experience, knowledge, and other factors can help in determining the experience your college can offer. Moreover, LinkedIn has emerged as a major networking social media platform that can connect you to prominent alumni easily. The information from prominent alumni can be of great potential and can help you in making the correct decision.
- Contacting the accurate person
Knowing about the details about the salary packages and placement activities could be well understood by a person studying in the college itself. Getting in a touch of seniors who hold the knowledge of these aspects can help you in grabbing the desired information.
Moreover, professors and teachers can also provide a gist of the information. However, this data would not be a hundred percent accurate but can provide you with some details. Moreover, asking for details as per your specification area would help in knowing a pattern.
One can also ask for guidance from students who have passed out recently. They possess a key knowledge about the changes occurring in the corporate sectors or the difficulties faced by them. The majority of this information would vary from one person to another since they are mere opinions. However, these perspectives can make one understand the recent changes, salary trends, and much more.
Understanding the placement activities of any tier-2 b-school is a tough task. However, constructing a network of people who are sharing insightful details about the real scenario could be the key to knowing the details.
Moreover, individuals must try to keep a tab on the prevailing trends about salaries, placements, etc. and the factors affecting it over the years. Understanding the drop and rise of the annual package can help in understanding the details in a clear perspective.
An informed choice must be made while enrolling in any management school. Admission is a key investment, and therefore positive results must be gained at the end of the term.
Moreover, considering other aspects like curriculum, fee, profile build-up, exposure, etc. holds major importance too. These factors must be considered well before making an admission decision.
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