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MBA Placement 2008

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Placement 2008

Placements Ahoy!!!

Placements 2008 turned out to be just another usual year at IIMs and other Indian B-schools, if one is to go by what appeared in popular press and much-delayed press-releases from B-schools. It was the same ever-increasing Crore / USD figure
salaries, the entire batches getting placed in 72 hours, foreign postings, and the usual 30% movement in average / median salaries (if anybody bothered to give that), etc. etc. etc.

This proved (or gave a feeling) that while decoupling of Indian economy and stock market might still be in theoretical realm, Indian B-schools are already in decoupled mode from American B-schools and their other counterparts around the world, or probably decoupled from reality as well. So while we have been hearing of saddening disappearance of those investments banking and private equity jobs in US B-schools, there was business as usual at Indian B-schools.

So how did our schools manage to overcome the severe stock market correction, the sub-prime melt-down, the collapse of Bear Stearns, etc., or did they really manage to beat these blues? Probably the truth might be lying somewhere in the middle, as placements did go well and institutes were indeed able to place students, but it was not as good as it was made out to be. The signs of what happened at B-schools came out in those much-delayed data-anorexic press-releases (this was in stark contrast to established practices) laced with adjectives, quotes and everything else under the sun, barring any useful data.

So probably Placements 2008 became more about carefully-crafted press-releases where creativity ran high, and probably competed with electronic media, when it came to imaginations, artistic freedom, and hence, merged reality with aspirations as usual.

So, here go some of the snippets from Placements 2008 as they happened -

  • Placements at IIM Ahmedabad continued to show growing preference for Indian firms and locations. (We don't know whether it was love for India or worry about being fired six-months later, since international recruiters have demonstrated their capability to withdraw offer / fire within six-months, depending on overall economy scenario, as it is the norm internationally. E.g., i2 Technologies withdrew its offer in 2001 leaving students high and dry. Fortunately, Indian corporate are yet to follow their international counterparts in taking back offers / firing whole batch of recruits, and probably this led to more passion for a stable secure Indian job than for those unstable insecure USDs.)

  • At IIM Ahmedabad, average reported domestic salary was INR 17.85 Lakhs per annum while lateral average salary was INR 18.3 Lakh per annum with a mere gap of just INR 45,000 per annum. So it seems it does not pay in IIM-A to have prior work experience.

  • Interestingly, it seems that Corporate India pays more to a fresh campus recruit compared to an experienced manager with 3 years of experience from same college. So inverted logic or freakonomics???

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      Placements 2007  
    Read complete story of Placement 2007 as it happened along with analysis and comparison across the B-schools and segment-wise analysis.


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