Having passed out from a New IIM just this year and having friends in other new IIMs as well, here is my honest debunking of the facts and myths which are out there on pagalguy and aspirants minds since so many years. Having just passed out from one of the New IIMs, I will try to shed some light on them.
P.S THESE ARE JUST FOR NEW IIM's AND NOT THE BABY IIMs
Myth#1: IIM XYZ is best in finance, IIM ABC is best in marketing.
Fact: Every new IIM offers more or less the same kind of placements to all the students be it in any domain. I don't know who started this myth that a particular college is the best in finance and another is good in marketing. The entire placement process depends on the whether the placement committee is able to convince and bring the recruiter to the college. In almost every company, barring a few, all the new IIMs are placed in the same cluster, having the same kind of package and job profiles on offer. If a particular college is not on a list for a recruiter, it's probably because of some shady stuff and grudge from the past or something else. Once you make it to any of the New IIMs, you will realize how much stupid stuff you have to do just to woo a company, which has no correlation whatsoever with the MBA you are pursuing.
Most of the profiles, and I mean around 60 percent are sales and marketing profiles in all the new IIMs. 80 percent of the companies are common across the new IIMs, the difference is how the profile of students is perceived by the corporate, because the profiles of all the students are sent to the corporates by the placement committee way before to call them to campus. If a company does not find it suitable enough, it won't visit the campus. Simple.
There is no single college which is better in any particular domain. Once you get in, go through the placement season, talk to your friends in the other colleges, you will realise all of you are equally successful or doomed. Coz there are the same companies all around.
Myth#2 Location advantage of New IIMs over other peers
Fact: Almost all new IIMs are in cities where the airport is nearby, so location advantage between new IIMs is more or less same. In the end it comes down to the connectivity of the airport to the big cities.
Myth#3 I will get a job at the average package of the college which is around 15.
Fact: Trust me when I say this, and I have seen this firsthand, all the new IIMs have gloriously inflated their reports, except the audited ones, and the fact is, the average package among all the new IIMs hovers around 13-13.5 lpa. Those who are telling otherwise is a lie. And this is true for all the colleges, be it Ranchi, Trichy or Raipur who have mentioned average packages above 15 lpa.
Coming to the lowest packages, unless you are a complete fool and dont know how to perform in an interview, you will end up with a nice average package. Lowest CTC in my batch went to around 6.5 lpa per annum in which around 5 was fixed. And there were many companies below 10 lpa CTC as well. But if you make it to an new IIM and manage to play your cards right, you will probably get a decent job. A decent job in a new IIM is around 11 lpa fixed salary.
And does this hold for all the new IIMs, hell yeah!
And don't believe the summer placement reports of any of the new IIMs, the real average package is half or even 1/3rd of what is mentioned.
Placement is totally driven by luck. A person with 4 years worth of experience will be overlooked by a company for a fresher with b.com or average scars whose profile is super trash. Midway into the placement season, you will realize the company's release their shortlist high on weed and stuff.
Myth#4 Ranchi and Trichy are the best!!! Udaipur is next, then Raipur, Kashipur and Rohtak are trash.
Fact: All the new IIMs are equally good and trash depending on how you perceive them. The teachers, pedagogy, placement is same in every new IIM currently. Those 1 or 2 people in a batch who manage to get a job in a very good company out of the 200 odd people of the batch, they are the ones who manage to bring up or bring down the package by a few points between the colleges. So it doesn't matter what college you choose or what location, you will get more or less same opportunities everywhere.
Infrastructure wise, all the colleges the completely different though, and I guess in the end it should be one of the deciding factors.
These were more or less some of the chief myths among the new IIMs. Trust me the polls being held on Pagalguy are not worth anything because you are comparing apples only and most of the people voting are students of the current college who have been asked to vote for their college. If you want to have some real clarity about any other topic and want a honest opinion about any of the other aspects of these colleges, please DM.