IIMA creates Indian Placement Reporting Standards
to be written
Come another year of management pass outs, the debate starts in B-schools, which institution’s star student will bag the highest package? This becomes the hot topic of discussion in various college cafeterias across the country. So much so some B-schools even rearranged the salary components to come at a higher figure, this of course done in an attempt to establish dominance amongst other contenders.
In such a set up, to promote transparency and consistency in placement standards, a new system has been initiated by IIMA called ,“Indian Placement Reporting Standards”. At a recent recruiters’ conclave held in Mumbai, IIMs, private B schools and blue-chip recruiters discussed this new venture which will not only calculate salary figures as per a common formula but also ensure that it will be announced in a pre decided format. The standards presented intended at a ‘fair’ comparison between institutions on several factors like salary figures and also number of graduates picked up by recruiters. This will help in shedding light on what the salary package actually constitutes of.
The conference was attended by over 50 recruiters, including GE, McKinsey & Co, HUL, P&G, Wipro, Standard Chartered, Bank of India, and Monitor Group.
PM’s Take: Year after year there has been enough speculation on salaries of management graduates, the new system introduced will work well and put a rest to all rumours which are heard during placements.