We are done :: After gruelling 6 days, it was nice to see the champenge flowing (Actually) and poeple dancing to the tunes of drums! :: As NS Sidhu has said that Statistics are like miniskirts, they hide more things than what they …
We are done 
After gruelling 6 days, it was nice to see the champenge flowing (Actually) and poeple dancing to the tunes of drums!
As NS Sidhu has said that Statistics are like miniskirts, they hide more things than what they reveal :D
Our placement report is on the same lines ;)
May be its for the betterment of the education system that the hype about placements fall
Great Show IIML and a brave step indeed this year by the IIMs. A new standard set in the Indian Education System
Cheers
Great Show IIML and a brave step indeed this year by the IIMs. A new standard set in the Indian Education System
Cheers
I agree ...
Excellent placements ...
A long overdue , action on the part of the IIM's not to disclose salary figures ..
I just hope IIM C followed it too , and soon I,K, XLRI and FMS follow suit ...
I agree ...
Excellent placements ...
A long overdue , action on the part of the IIM's not to disclose salary figures ..
I just hope IIM C followed it too , and soon I,K, XLRI and FMS follow suit ...
I know that this really is not the place to talk about, but I fail to understand the rationale of not disclosing salaries. Agreed, that the people concerned should not be named. But, pray, why not the figures. Why should they be hidden? If anything, this is going to make things a lot more shady for other schools, which will follow suit saying "high salaries with great profiles being offered".
If this is to reduce competition amongst B-schools, I am not sure how is this going to help. If there are 10 schools in the country they will be compared. This is a parameter of evaluation. In fact, I feel there should be a more clearer picture about the same as to what profiles gave what compensation at which school. Let the prospective students take their decisions. To each one his own.
Sorry for digressing, but this is something which I have been thinking about and have found no tangible reason to explain it.
Basically there are five parameters to be considered in evaluating placements. Company name, location, job profile , Number of offers made by that company and the salary. Of this, just knowing the first four factors can help a prospective student take his decision in selecting the institute. As far as the fifith factor is concerned it can be deceptive in the sense there is no set standard for calculating the salary and also detrimental . How do you think the students who don't make it in slot 0 & 1 feel.What is the answer they have for their parents, friends, relatives etc regarding their salary while the media has reported salary of just a handful which becomes a bench mark for the public at large. I guess you have to be there to experience it. Why, I have not seen IIT ever talk about placement to the media ! So why should the IIMs?
Case
Case
Average, median salaries are no indicator of how good a college is .Most of those data dont indicate anything. Putting out average placement salaries actually misguides the student rather than helping him/her choose the right college.Anyway profiles on offer have been put out by the IIMs.
I feel using avg salary as an indicator forces some colleges to fudge their salaries. I hope this mad race would stop if top colleges stop publishing their avg salary.
I too strongly disagree with the chicken's route taken by some of the IIMs especially B and now L. For me its a clear signal that placements did not go as well as expected...
I am myself not sure whether IIMC is going to follow the same route or not... But my view would remain the same that this is plain and simple the chicken's way out. Pioneered by the usual suspect IIMB ofcourse :wink:
All foreign Bschools do release their Average, Median and even highest salary thru the campus placement route... Maybe it doesnt become news their like here but if you want to know you will come to know what it is through their brochures etc... Other off the table salaries are not disclosed if specially requested by students... If our IIMs think they are some kinda special system of Bschools that they dont need to be transparent you can only blame... well... maybe the Nehru-Gandhi parivar and this stupid idea of IIT/IIMs all over the planet
K
Desiguru
Well played 😉 Still sour grapes about missed B call? :huh:
First things first!
IIML placements started on 3rd March and even before the placements had started, we knew that IIML is not going to disclose the salary! Now this was irrespective of the fact that which companies are coming in which slot and what kind of placements we will have in the coming days! 
As a B-schooler, you would certainly appreciate the fact that nobody knows whether a certain company will turn up on placement day or not! 😃
So the fact remains, we took the decision of not disclosing the salary at the point when we didn't know whether the placements will rock or not! :D
And IIMA -IIMB are following the same suit I see! :)
Had IIML disclosed the salary, the average would have been pretty competitive like tier-1 B-schools. The simple reason being more or less same set of Indian recruiters visit tier-1 companies and the batch composition is approx same acroos all tier-1 B-schools (espl IIMs)
Now talking about Indian Education system, this will certainly help to reduce the larger than life status of IIMs, which is good for aspirants and for current students too!
Maybe the coaching insti revenues might dip, but in the long run too much obsession about II* does not help anyone! What was national waste theory btw? 
So the point remains, some IIMs have understood that learning is more important than the extra dollar which is anyway spent in paying the fees of cardio surgeons.
I sincerely hope that the others who are garbled in the bureaucracy of red flag appreciate this fact! :razz:
Good Luck
I too strongly disagree with the chicken's route taken by some of the IIMs especially B and now L. For me its a clear signal that placements did not go as well as expected...
Poor logical thinking. Announcement about non-disclosure of salaries was made well before placements started.
I think it will
I am myself not sure whether IIMC is going to follow the same route or not...
and when it does, u will support it.. :)Another member joins the Rejected-by-B-hence-took-up-C-now-hate-B club! Your comments were as expected :)
But my view would remain the same that this is plain and simple the chicken's way out. Pioneered by the usual suspect IIMB ofcourse :wink:
All salaries that companies quote (esp the foreign ones) are extremely inflated and misleading. The true salary details do come out during PPTs but that is not what is revealed in the media. (Hence you had Deutsche Bank who during our summers, actually employed absurd mathematics to arrive at a preposterous salary of 270,000 - the actual salary was closer to half that figure) So even though Im not totally against revealing salaries, Im not sure what purpose it serves to reveal misleading figures.
All foreign Bschools do release their Average, Median and even highest salary thru the campus placement route... Maybe it doesnt become news their like here but if you want to know you will come to know what it is through their brochures etc... Other off the table salaries are not disclosed if specially requested by students...
No comments
If our IIMs think they are some kinda special system of Bschools that they dont need to be transparent you can only blame... well... maybe the Nehru-Gandhi parivar and this stupid idea of IIT/IIMs all over the planet
the freak
I am neutral on this one.
On one side it makes sense for the aspirants to have placements info before they make a decision, average sals would definitely help in that sense (we can do away with the student-company-money linkage though). But then the media frenzy is at its highest and u cant really stop them from going ga-ga over 20 something blokes walking away with a 10+ package when the average sarkari karmachari struggles to make 20% of that.
The real issue here is that this avg salary thing kinda turns into a one upmanship game and breeds unhealthy and unethical competition among B-skools. Tier-(n+1) skools wanna get into Tier-n and get tempted to fudge numbers and then the higher ranked skools have no other way out than to quote higher averages. That we dont have someone to audit these numbers every year doesnt help things in any way. This added to the fact that companies themselves quote inflated salaries turns the transparency walla logic on its head since the genuine-ness of the data quoted by the skools itself is under question.
So where do we go from here?
IIML has taken an interesting step and I wouldnt label that chickening out Lets see if all the IIM's can work out a consensus on this in the near future.
And yes, the Nehru-Gandhi parivar doesnt have much to with what IIMX decides to do today 😉
So the point remains, some IIMs have understood that learning is more important than the extra dollar which is anyway spent in paying the fees of cardio surgeons.
LOL. "Learning" is more important than placements in IIML. 😲 ? Dude, Come on!! And what does an extra dollar earned by an IIM grad have ANYTHING to do with a cardio-surgeon.! Very very uncharacteristic post. Also we may have the red flags here, but doesnt your diro wave the saffron flag! 😉
Another member joins the Rejected-by-B-hence-took-up-C-now-hate-B club! Your comments were as expected
You can do better than that freak! For starters why dont you go to your admissions office and find out how many people who had a choice between B&C; chose B. Also while you are at it, try to understand how many in your lone B call batch actually had IIMC calls.. The numbers speak for themselves dont they. I of course cannot post them in a public forum, but will be more than glad to share it with you privately.
And yes, if I had a choice to join B, I would have and it was definitely not because B was a better school. :P
To me it boils down to this Last year everyone here knows that IIMBs Gaurav Agarwal had the highest salary of $193k from Barclays , London for the role of associate.
Everyone here again would have heard of the $250k offer 2 IIMCians bagged this year.
Now can anyone here name the bank, students or role? So is there a security problem-NO. Is there a confidentiality breach-NO.
It doesnt take a genius to figure out that IIMB had its fingers rather badly burnt by the Gaurav Agarwal episode where even personal emails were leaked to the press last year and led to the resignation (for personal reasons of course) of the placement head. Now as in every good Indian governmental organization the tendency is to the other extreme - Non disclosure!! IIMB has always been extremely media friendly and to see the lecture on confidentiality breach and security seems funny now. In fact every report about non disclosure of IIMB salaries carries the 193k and 30 lakh Indian offer as a footnote.
Non disclosure of placement salaries is a nice strategic move to differentiate oneself from the competitors but it fails miserably as a moral science/ethical treatise. Even the IIM aspirants above can see through it.
Firstly... Whatever be the truth... the moral of the story is if you are unwilling to reveal your average salary then everyone is free to assume that your placement got screwed...
So maybe the placements at the IIMs are not going as well as before and they need to cover up... And suddenly B and L decide to go SILENT ! You can never say can you
And Yes! IIMC has decided that it will infact release the numbers... Lets see if they do... If they dont then well even IIMC is chicken along with B and L. I will say it right here If IIMK released their numbers its because their numbers look good at above 12 Lakh average... Why wouldnt they not want to reveal the Doctor's name who got special treatment from Mckinsey... They went right ahead. Atleast I am going to assume that both B and L average salary is less than IIMK unless they release it...
Ofcourse everyone is free to make their opinions and even if you think its lesser its for u decide whether it matters at all or not... But the freedom to avail that data is the right of any aspirant and denying that is just using the monopoly power given to you by the government... And I dont know what this "not releasing data" is really because economic times had B's highest salary at $220K... A at something similar and C at $250K. So I guess its ok to release some good news but hide the bad news at the average salary levels... As i said earlier, the lack of data almost always means the hiding of bad news... Atleast I think so
K
it seems like a great initiative by b and l in theory, but dont think it will serve much purpose if all the other iims follow through. The fact is when every single college advertises its numbers... and lets face it that placement numbers play a huge role in choice of insti, and also the headlines in newspapers with salary figures being the best free publicity iims get... colleges will succumb formally or thru informal leaks... and so if its gonna get leaked out, so why not formally announce it...it could be good in theory because like orca said the tier n+1 coll fudge nos. to get to tier n who further have to be inventive to maintain parity. So in theory if all colleges follow this, there might be something in it, but dont see that happening in a TOI driven, money loving India( that we are all happily part of)
great going IIM-L junta ..
that was a fantastic placement season for you guys ..
Congrats to all IIM-L junta and ALL THE BEST for ur career ahead:) !!!
All foreign Bschools do release their Average, Median and even highest salary thru the campus placement route... Maybe it doesnt become news their like here but if you want to know you will come to know what it is through their brochures etc... Other off the table salaries are not disclosed if specially requested by students... If our IIMs think they are some kinda special system of Bschools that they dont need to be transparent you can only blame... well... maybe the Nehru-Gandhi parivar and this stupid idea of IIT/IIMs all over the planet
K
Well I don't have much to contribute here, but let me just express my unbounded joy at the fact that the National Waste Theory still lives on in the oldest national waste site of them all. :D
As far as disclosure of salaries goes, if there was a credible mechanism where inquisitive little souls could easily get clear details about the take home, variable, CTC, perks etc about different profiles offered by the companies, then we could start harping on the transparency factor of releasing student salaries.
I know that IIFT being sarkari has some stringent red tape that isn't supportive of financial re-engineering, so the 50% variable that makes a 10L salary into 20L and that 6 lakh Honda City thrown in to sweeten the deal, don't finally figure in the figures put out. I'm sure there will be other schools quite willing to look the other way while including them.
And to be quite frank, your highest salaries really don't give you an idea of how good a school is. I can speak for IIFT, and if more people took up offers in a certain domain and not the other, the avg salaries quoted would've been far higher. Then there were people who were profile focussed, and didn't mind getting a smaller paypack to get into a line of work that they actually sought. So you cannot comment on quality of placements by looking at one monolith of a figure. It does finally depend upon what the batch wants, that is ofcourse true for those institutes where such luxury of choice is applicable.
All said and done, the quoting of salaries as it is done now is very misleading. But the motivations behind not quoting them don't seem any more honest.
Btw, wasn't this an IIM L placements thread? 😃
Well I don't have much to contribute here, but let me just express my unbounded joy at the fact that the National Waste Theory still lives on in the oldest national waste site of them all. :D
As far as disclosure of salaries goes, if there was a credible mechanism where inquisitive little souls could easily get clear details about the take home, variable, CTC, perks etc about different profiles offered by the companies, then we could start harping on the transparency factor of releasing student salaries.
I know that IIFT being sarkari has some stringent red tape that isn't supportive of financial re-engineering, so the 50% variable that makes a 10L salary into 20L and that 6 lakh Honda City thrown in to sweeten the deal, don't finally figure in the figures put out. I'm sure there will be other schools quite willing to look the other way while including them.
And to be quite frank, your highest salaries really don't give you an idea of how good a school is. I can speak for IIFT, and if more people took up offers in a certain domain and not the other, the avg salaries quoted would've been far higher. Then there were people who were profile focussed, and didn't mind getting a smaller paypack to get into a line of work that they actually sought. So you cannot comment on quality of placements by looking at one monolith of a figure. It does finally depend upon what the batch wants, that is ofcourse true for those institutes where such luxury of choice is applicable.
All said and done, the quoting of salaries as it is done now is very misleading. But the motivations behind not quoting them don't seem any more honest.
Btw, wasn't this an IIM L placements thread? :)
Now j0, I dont think anyone truely disagrees with the above and infact it was almost hilarious to see the IIMC average being mentioned to be 55 Lakhs a while back where the average foreign was converted into Rupees by NDTV!!
We were joking in the canteen that now CEOs will leave their jobs to join IIMC Media too is too blame here along with the Bschools. Ofcourse majorly its the hyper media secretaries and no real transparency. See if there were some really smart Media chaps they would actually ask for a breakup before splashing it on the front page!But are you trying to say that instead of bringing sense to the data you stop giving it altogether!! I dont think so. Not revealing data is the higher sin and Yeah this should only be about IIM L, but unfortunately my old habits of generalising die hard and I see this as maybe another excuse by the IIMs to be not transparent and very governmental really.
With the OBC quota thing coming their average salary might fall and maybe this is just the trick they need to stop their possible downfall. Who knows! as i said speculation abounds a lot more when u dont reveal data!!And yeah Peace IIM L. I think you guys had Mckinsey for the first time!! Congrats and Good Luck
K
I am neutral on this one.
On one side it makes sense for the aspirants to have placements info before they make a decision, average sals would definitely help in that sense (we can do away with the student-company-money linkage though). But then the media frenzy is at its highest and u cant really stop them from going ga-ga over 20 something blokes walking away with a 10+ package when the average sarkari karmachari struggles to make 20% of that.
The real issue here is that this avg salary thing kinda turns into a one upmanship game and breeds unhealthy and unethical competition among B-skools. Tier-(n+1) skools wanna get into Tier-n and get tempted to fudge numbers and then the higher ranked skools have no other way out than to quote higher averages. That we dont have someone to audit these numbers every year doesnt help things in any way. This added to the fact that companies themselves quote inflated salaries turns the transparency walla logic on its head since the genuine-ness of the data quoted by the skools itself is under question.
So where do we go from here?
IIML has taken an interesting step and I wouldnt label that chickening outLets see if all the IIM's can work out a consensus on this in the near future.
And yes, the Nehru-Gandhi parivar doesnt have much to with what IIMX decides to do today ;)
orca has made some pertinent points here.
if an tier-2 insti like say IMT quotes a 10+ average salary, there will doubtless be a huge temptation for the tier 1 schools to distinguish themselves by fudging figures.
Moreover, pay packages are heavily influenced by the batch profile. One of the reasons why K did well this year on the salary front was because 75% of the batch had work-ex (av. work-ex around 2 years). Journalists seldom address this aspect in their placement reports.
@DesiGuru
Mckinsey has been coming to campus for the past 5-6 years now. ATKearney and KPMG-MiddleEast made their debut this year in the campus.
I guess DesiGuru tried his level best to get IIMbians to counter his points. Thankfully they did not get instigated !!
I had read an article written by an ex IIMA a month (?) back in Eco Times. He says while there have been achievers from other IIMs , only IIMA has been actively and effectively promoting their alumni in the media. Surprising ! Looks like there is more scope here for
"who is better" issue than mere who has got higher salary at placement !!
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