IIM Calcutta emerges as numero uno in Placements 2009
- Monday, October 19, 2009, 5:09
- Editorial, IIMs, In Focus
- 7,391 views
- 38 comments
IIM Bangalore might have been “The Employers’ choice” in Asia in recently conducted QA Global B-School ranking survey, however back home when it comes to placements, IIM Calcutta seems to be the choice of Indian and International recruiters.
IIM Calcutta has emerged as the numero uno business school in India as far as placements are concerned as per the latest CoolAvenues.com Placements 2009 report,
The ongoing global financial meltdown which impacted Placements 2009 at Indian B-Schools severally saw IIM Calcutta weathering the storm in much better way compared to other institutes. IIM Calcutta which earlier used to suffer due to its comparatively bigger batch size, is now at par with other IIMs as far as the batch strength goes and hence used its past experience of placing large batches in a better way in these uncertain times.
Overall IIM Calcutta emerged as clear winner on following counts :
Placements Salary: Recruiters paid highest average salary to IIM Calcutta graduates among all B-Schools as average salary paid at IIMC was at INR 12.7 lakh in comparison to INR 12.17 lakh at IIMA and INR 12.12 lakh at XLRI, Jamshedpur. At the same time the highest salary paid to IIM Calcutta graduate was INR 60 lakh in comparison to INR 24 lakh paid to a IIM Kozhikode student.
In Overseas placements, IIM Calcutta again emerged as No. 1 institute with highest salary at USD 130,000 p.a. and average salary at USD 86.875 p.a while IIM Ahmedabad graduates were placed at an average salary of USD 83,000. IIM Ahmedabad chose not to release highest international salary.
Overseas Placements : 27 students at IIM Calcutta (10.2% of the batch ) bagged international offer compared to 23 international offers made at IIM Kozikode (12.4% of the batch), 15 offers at IIM Lucknow (5.6% of batch), 12 offers at IIM Indore ( 6.9% of the batch). Out of 27 job offers at IIM Calcutta, 17 offers were made in finance and 10 in consulting at locations like New York, London and Hongkong.
Interestingly IIM Ahmedabad and IIM Bangalore chose to remain silent on International placements with IIM Bangalore issuing cryptic press release talking about offers from “ UAE Exchange (middle east) and Enzen”. The press release from IIM Bangalore reads “The international offers continued to pour in on Slot One with companies like UAE Exchange, Enzen and others recruiting IIMB students for foreign postings.”
Overall IIM Calcutta emerged as clear winner in terms of no of offers made, quality of locations and overall job profiles given for international postings.
Pre-Placement Offers: Placements 2009 saw a significant drop in no of PPOs made in comparison to 2008 when it was literally raining PPOs at each campus. However despite such a overall doom and gllom scenario, IIM Calcutta graduates emerged on top with as many as 56 PPOs ( 21% of the batch) were given to IIMC graduates. IIMA and IIMB didn’t provide any figure on PPOs this year while 11% of batch (21 PPOs) at IIM Kozhikode, 9% of the batch at IIM Lucknow and 7% of the batch at IIM Indore got PPOs. The only institutes which came ahead of IIMC in term of PPOs was XIMB where 27% of the batch was given PPOs by recruiters.
Executive One Year MBA Program : The one year full time executive MBA program which was emerging as most preferred MBA program for experienced professionals faced its toughest year with almost every institute yet to finish its placement program except IIM Calcutta. At the time of going to press, all leading executive MBA programs i.e ISB, Hyderabad, Great Lakes, IIMA PGPX, IIML IPMX etc are yet complete their placement process and had extended the process indefinitely. However IIM Calcutta PGPEX program emerged as clear winner where all 34 students who are part of placement process (Batch strength ~ 37) were placed with an average salary of INR 18 lak and highest salary of INR 22 lakh.
Overall Placements 2009 established position of IIM Calcutta as number one Management destination as far as placements are concerned which is one of the most important parameter used by MBA aspirants to select an institute. (c)
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38 Comments on “IIM Calcutta emerges as numero uno in Placements 2009”
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Way to go IIM Cal…. Cheers !!!!
Joka rocks as usual !
With B and A not disclosing their results in the above tables, difficult to say who is actually numero uno. Although most times the reasons for not disclosing results is generally knowing that one is behind in that parameter. Queer ways the media works.
Article seems more like an ad for IIMC
Awesome news…
Proud to be a JOKAN!!!!
Nothing new, as expected IIM-C at the top in placements.. Congrats Joka’ites
It is ridiculous to say IIM Calcutta is better on just one parameter ( pay ) . This is simply because more people go to irrelevant areas like finance from there.
You do not even have full statistics for IIM Bangalore – if you looked only at management jobs ( excluding finance ), it would show that IIM B is the best!!
If there is 10% overseas placement for IIM calcutta, I heard they also have nearly 10% drop out rate, which is zero in other institute. Even some student are asked to complete the 2yrs course in 3 yrs… i think this is also nowhere!!!
So ..Beware IIM aspirants…. don’t just get fool by highest salary quoted by IIMs.
Hahaha…east or west IITs are the best….all else is nothing in front of them….A day will come when IITs will surpass all the IIms in management education…..No one can dare challenge IIT…..
@sr
Finance – irrelevant area?
Do you have comparative statistics to show which one is the best at ‘management jobs (excluding finance)’ ?
@ramu
I think you are unaware of the slow paced programs in other IIMs
Making a reasonable assumption that intellect and hard working abilities of IIM ABC are same, high ‘dropout’ (as you may call it) only indicates the very strict standards of academics at IIM C. Degree/diploma is not given to all – but to ones who perform above a minimum acceptable standard… which turns out to be quite high in the case of IIM C
who the f**k got that average salary …..guys believe me don’t go by these numbers
“It is ridiculous to say IIM Calcutta is better on just one parameter ( pay )”
Quite true IIMC is better in more than just one parameter.
Finance is irrelevant? Really? Wow, every B-school could grab that top position for placements by using their discretion to choose which sector is relevant in their placement process in that case
“I heard they also have nearly 10% drop out rate, which is zero in other institute”
It is sad that other “top” b-schools aren’t being clear with their students that the CAT is not an IIM degree, there is a long process that follows which one cannot take lightly.
In short strict standards to avoid people taking their b-school education lightly.
Nothing new here… IIM Calcutta has always had the best placement record among all Indian B-schools. They have topped the overall placement figures for all their programmes – PGP/PGP-EX/FP – every year, barring a year or two here here and there.
What is really interesting is that IIM-B has not disclosed their figures. This is the institute which went to every news media outlet yelling about a student of theirs who topped the highest salary figure a few years back; even naming the student as if trying to use him as a brand ambassador. Obviously, their placements have been very disappointing compared to the other schools in their league – C or A.
http://www.thehindubusinessline.com/manager/2009/03/16/stories/2009031650791000.htm
^ The above link says that IIM-B’s average salary was around Rs. 10 Lakhs: which is way below C and A; and in the league as the younger IIMs – IIM-K and IIM-I.
“If there is 10% overseas placement for IIM calcutta, I heard they also have nearly 10% drop out rate, which is zero in other institute. Even some student are asked to complete the 2yrs course in 3 yrs… i think this is also nowhere!!!”
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ramu, every top institute in the world has a considerable drop-out rate. Be it IITs, BITS, IIMs, or even foreign colleges. The curriculum in many such institutes is so tough that some students – even though they are among the brightest students around, and got admission after extremely stringent selection procedures – simply are not able to cope up with the pressure.
Even other such institutes in India – be it IIMA or IIMB or others – have comparable drop-out rates.
And if IIMC’s drop-out rate is a bit higher than the others, then it only means that IIMC’s course is a bit tougher than the others!
“It is ridiculous to say IIM Calcutta is better on just one parameter ( pay ) . This is simply because more people go to irrelevant areas like finance from there. You do not even have full statistics for IIM Bangalore – if you looked only at management jobs ( excluding finance ), it would show that IIM B is the best!!”
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sr, take a look at this report:-
http://www.coolavenues.com/placements/2008/iimb-f-08a.php
That gives the sectoral break-up of the 2008 placements @ IIMB. The report gives the top 3 sectors as Consulting (37%), Investment Banking (21%) and Finance (19%).
Now, usually institutes classify Investment Banking as a part of finance itself. IIMC and IIMA do that every year.
So, even at IIMB, more students choose Finance (40%) than any other sector. This has been the case with most top institutes – IIMA, IIMB, IIMC, etc. – over the past several years.
Still think that Finance is an “irrelevant area”??!
This article also says that IIMC has been the only institute which has been able to complete 100% placements for the executive MBA batch. (Of course, IIMB did not divulge the exact state of affairs in their institute.) Not too many finance companies recruit people from executive MBA courses.
“who the f**k got that average salary …..guys believe me don’t go by these numbers”
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It is true that B-school salaries are often inflated. But this is the case with every institute: because such overstatements are due to the salary structures offered to students. No reputed institute would blatantly lie about their figures. All they do is that they report figures that include all salary components, including full variable pay, bonuses, etc – this means that while the figures given are not “wrong”, most people who don’t know about such things are often misguided by them. And this is how the figures are presented to even the institutes themselves by corporate houses. And every institute just reports these figures to the media.
So, while the figures quoted in this report may be overstating the true state of affairs, the figures of all institutes do the same.
bhanu pratap:
IITs may be the best institutes of engineering education in India. But are they the best for everything?
Are IITs the best for medical courses, arts courses and commerce courses too?!!
And in case you didn’t know, a very large fraction of students at top IIMs are IIT graduates. So, IIT graduates think of IIMs as an upgrade.
In IIM A/B/C, the fraction of IIT graduates is often as large as 50%.
Do you know of a single IIT BTech/MTech graduate who would pursue his/her MBA course in any IIT? If you know of any such person, please let me know.
Not even IIT-ians would say that IITs are better than IIMs for management courses.
aHhhhhh…. seems all iimc guys started justifying ..ki Report sahi Hai Bhai!!!
n don’t try to be so arrogant by just pay package….. C always comes 3 rd in alphabet!…
n ever1 know the infrastructure issue with C… “worst among MBA institute” which has been exposed many a times. But institute always try to hide the truths… n students just try to adjust somehow.. no1 ever speak out.. bcz Rank will goes down, placement get affected..!! … kabhi placement se bi upar utto!!!
@ramu: iimc guys have started justifying what? this report? why shud they “justify” they excellent performance?
n “ever1 know the infrastructure issue with C”? “exposed many a times”; “institute always try to hide the truths”; “no1 ever speak out”; etc; etc;??!!
u thnk the companies who go to C for placement are idiots? do u thnk they will give the best job offers to C’s students year after year if “EVER1″ knew the “infrastructure issue” with C which has been “EXPOSED MANY A TIMES”?
n wat do u mean by “infrastructure issue” anyway???? it seems that u r the only person who knows abt this huge “issue”. OMG even the company ppl dont kno abt this “issue” and are so stupid to offer such salaries!!!!! can u pls enlighten us uninformed souls???
u seem 2 hv absolutely no clue abt C, or about mba institutes in general. and as for ur “worst among MBA institute” comment; that merits no reply except to say that it doesn’t matter at all what u thnk; it is very clear from this report and many others that the people who do matter – like those in the industry – know that C is the best.
@sr: pls check out the placement records of IIMB over the past few years. u will see that IIMB students also largely prefer the “irrelevant area” of finance, much more than other sectors. the students of all the top institutes have preferred finance more than other areas for the past several years.
in 10 years, the quantitative jobs will go to IITs and the accounting jobs to CAs. finance is not a managerial job, and therefore it is an irrelevant area.
All the three IIMs are lying. I was in one of the top 3 (I won’t mention which) and I know about the other two. All 3 are lying massively. Companies like BoB have taken IIM Grads at 6 lakhs CTC and treating them like slaves. IIMs rely on such piblicity stunts as above to survive. Indian students, trust me, there are much better ways to spend your lakhs than going to IIMs – try and work hard for GMAT and a foreign degree. IIMs are hogwash to say the least, giving birth to several incompetent fools whose only achievement in life is to rote some silly case study written in the 70s and since then dumped and forgotten in the 80s. BTW, those who think that I am one of those who thinks grapes are sour and I didn’t make it to an IIM, I actually ahd final offers from all of them
@ ST – cudnt prevent myself from writing this comment after reading your mindless ramblings about finance. Can you please stop spamming this message board with your limited knowledge about the discipline called Finance. You appear to be an absolute nitwit who has no idea about the intricacies of the world of finance and the several opportunities it holds. I have a feeling you are one of those guys who didn’t clear the basic finance courses in your godforsaken B-school, and hence veered onto marketing or worse still, HR. BTW, how are the chicks in your HR department? HOT? good for you as you stare at them as we pocket our billions and take them out for dinners.
SR:
I think you have a wrong idea about “finance” jobs for MBAs. Finance MBAs do NOT go into accounting type roles. Their job profiles are completely different. In the financial institutions that recruit from B-schools, there are roles suited for CAs and financial analysts, and there are roles suited for management graduates.
“IITs” or “CAs” may be good enough for certain type of job roles in finance firms, but not for all. Finance firms around the world recruit MBA students from top B-schools – this is not limited to IIMs or Indian B-schools – for specialized roles that require management skills.
More info:-
http://www.bnet.com/2403-13070_23-267216.html
http://www.quickmba.com/finance/
And yes, like someone said above, even at IIMB, finance has been the most preferred sector for a long time.
Cheers!
“IIMs are lying”:-
From your post, it seems as if you were one of the unfortunate people who passed out in 2009 from near the bottom of your batch. It’s unfortunate that you graduated during such terrible economic conditions. But seriously, if you are trying to say that everyone from IIM A/B/C are working at BoB for 6 lpa CTC, then I don’t think anyone is going to believe you.
Yes, it is true that many public sector companies recruited students from top IIMs this year at <10 lpa salaries. But this year was an exception, it's not the rule.
For example, IIM-A's summer placements started yesterday; and top firms like GS, ML, MS, McK, BCG, ATK and ADL recruited almost 90 students on day 1 as per reports. These are not the sort of companies that pay students 6 lpa packages.
And about the "foreign degree" crap: there is not a single top B-school in the world that was unaffected this year. Even Wharton, Harvard and Stanford graduates struggled to find jobs this year. Considering that the courses there cost 5-6 times the cost of IIM programs, the risk of going abroad for an MBA just increased manyfold.
In fact, because of this, I know several people who chose top Indian schools over reputed foreign ones. For example, I personally know a guy who chose one of the top 3 IIMs over Cornell, and a girl who chose the same IIM over Stern. I know another guy who last I heard was wait-listed at Wharton and had other top admits but chose to join the same IIM here this year.
And about the "silly case study written in the 70s and since then dumped and forgotten in the 80s" part: Puh-lease… You should have attended your case study sessions better, so you would at least know when the cases were prepared. No offense, but I think this just shows why you are so bitter: you should have paid a bit more attention to your classes and then maybe you would be in a better position by now, and you wouldn't be so bitter and post complete BS like this.
No Arun, you are wrong on all counts.
1. I passed out in 2009 nevertheless, but managed a job that can be termed as “good” in even the best years and I finished quite high in the batch, so no issues regarding that.
2. Who told you that I said that ALL IIM grads work in BoB at 6 lakhs pa – but indeed, a lot of people from all the 3 top IIMs landed such jobs, which they have cleverly hidden.
3. Summer placements? The IIM I went to saw 100 odd being placed in the first day itself (in fact, all 3 did), but it is a fact that summer recruitment figures are a joke. Most of the summer recruitments are “jugaad” – lick the placereps a$$, and land a good summers job. Even better if you are a female – the companies just roll over to recruit you. But PPOs? 20/ 30/40 out of that 100 odd people. You call that good? Surely you are joking. (again, I landed a slot 0.5 summers, and w/o jugaad……. and I got a PPO too, so no issues there too)
4. About the foreign degrees that you have spoken about, you seem to live a dream-land ,a fantasy of your own. I have no issues with you doing that (its a free democracy after all), but the”struggle” for jobs you are talking about in India and the US is like comparing chalks with Pizzas. In IIMs, people were not placed till 15 days after placements started …….. begging for 4 lpa per annum jobs, after paying 5-10 lakhs for their studies. You can give an odd example here and there, but the truth remains that several times the opposite happens too – I can tell you of 10 guys who spurned IIm offers to go to Boston (forget HBS / Kelloggs).
5. Case studies of 70 s- sorry I spoke a bit vaguely there. Actually some of them were case studies of the 1880s…….. what did DB do to put rail lines in place in Baghdad in 1880s….. and we are supposed to learn strategy from them……..
Finally, Arun D, I am bitter…….. yes I am……… about the complete BS the IIM publicity guys speak when they talk to the media……… I would urge the same IIM guys (at least the C ones) to come up with PPO figures for this year……. the numbers (instead of the “there are several offers” crap) – I know the figure is less that 40 in all 3.
@”IIMs are lying”: I don’t know which IIM you are from, 40 is too less a number for the top ones even in the worst years. At least, I know for sure that neither A nor C has gone below 40 in a long time. I am not that sure about the younger sibling though.
This year, the PPO numbers have been quite low because of the after-effects of the financial crisis. The current number of accepted PPOs for IIM-C so far is 57 to the best of my knowledge. The offers are still coming in, for instance a leading FMCG company gave a PPO to a student early this week. Since the summers have just started at C, and many company officials are coming over for the process, more are expected in the next few days. But since the economy has improved a lot since the Summers last year, finals next year are expected to be a lot better and so many student may not accept their PPOs.
Last year, the number of accepted PPOs at C was 59 – again, effects of the financial crisis. In 2007, it was over 90.
Standard disclaimers apply.
IAL:-
I don’t think anyone ever disputed the fact that many graduates of IIM A/B/C did join public sector companies last yr…And many students did get salaries like 6 lpa….Of course, there are many companies like the top fins or consults that pay students huge salaries, so if the average is 12 lpa ,then there must be some companies that gaev offers of less than 12, right??!
But again, even though many students might have got stuck with BoB kind of jobs last yr, but many more students were placed in much better cos .I dnt think anybody tried to hide this – even the official media statements of the institutes mentioned these poublic sector cos.
About summers, maybe they r jugaad or watever – but still, top companies take lots of students .I dnt see y anyone licking any place reps backside is relevant to this discussion. and abt PPOs, surely they are much higher than 20% or 30%.
About the foreign schools -my point was that even in top foreign B-schools students struggled to get placed last year. Sure, they may not have a dedicated placement process like the schools here, but the point is that many graduates of top schools abroad struggled to find jobs months after graduation.
http://www.businessweek.com/bschools/content/oct2009/bs20091029_862211.htm
The above link says that 16.5% of students from top 30 US B-schools could not find jobs THREE MONTHS after graduation. Even schools like Wharton, Ross, etc. had as much as 20% of students without jobs.
You mentioned about IIM studetns paying 5-10 lakhs for their studies , Im sure u kno the difference in the fees between IIM programmes and the top US MBA programmes.
Even last year, in times of the financial crisis – or u might argue, especially last year – the ROI of many Indian MBA programmes was much, much greater than that of foreign MBAs. Paying 10 lakhs for an Indian degree and landing up with a 6-lpa job that is surely better than paying 50 lakhs plus for a foreign degree and not landing a job at all.
About the case studies-r u trying to say that there is no strategy to be learned from history?i dont know abt the specific case study u seem to be referring to, but i m sure that history has lots of examples of great strategy that wud be applicable to b-schools. i have heard that many foreign schools have courses based on the art of war. againm while i dont kno the merits & demerits of the case study u r referring to, i dont thnk that all case studies about historic incidents are useless.
Don’t worry dudes.. IIM’s and lying go together and I say this being part of the system. If one IIM lies the others have to and they DO!!!
Please reduce a few lakhs from salaries and a few from number of PPO’s. Believe me, I have no incentive to lie in this post , why sould I besmirch the IIM’s if what I were not speaking the truth?
Yes foreign universities are better than indian, but I wouldnt subscribe to the extreme view taken by Arun saying the IIM’s are utterly useless. Some of the profs are good, and its the best u can get in India.
But ya, they are all goddam shameless liers!!!
Sorry to correct the earlier post I quoted Arun instead of “IIM’s are lying” ….
Trust me thats all cooked up figures. Ask an insider and he will tell u everything.
But above all salary is not the important thing..
We have a course on business ethics and we all said “its an oxymoron” :p
My mother could go and teach in IIM. But she woudnt be allowed in IIT. Why? IIT is the best. Its the best in the world. Even Harvard graduates aspire to be IITians first, then they go to Harvard if they don’t get in. Ask the same thing to a MIT student. IIM sucks BALLS.
Hello I am Jigar Madia. I say calcutta boys school is better than IIT and IIm. I am from calcutta boys school. I am saying from experience that what calcutta boys school teaches, IIT teaches day after tommorow.
although it seems that iim calcutta has highest average salary ,it doesn’t show the actual image of placements………..coz the highest salary at calcutta is very high.
if let us suppose 10 students get above 50 lakhs then
it will compensate 55 students who get 6 lakhs by making an average of 12.7 lakhs.
so the parameters that is important in a good placements is median & the difference between lowest & the highest .
that is median should be higher & the difference between lowest & the highest should be minimum.
@pooja,sorry to tell you but that there are IIT btech guys joining IIT’s MBA program, if you want the detail do reply to me coz i myself did my MBA from IITK and i had 3 guys in my batch who ware from IIT’s and in my junior batch there are around 4 more,and just for your info MBA program has started only in 2001.I dont want to say we are better then IIM’s but plz dont have skewed idea’s about IIT’s I KNOW AT LEAST 3 prof from IITK my dept who had gone to IIM B and C to teach.. and believe me every single world of mine is true..
I am not from IIM’s & plan to be there – I accidentaly got here trying to look for the profile who got the highest package & I hear he was not the tooper do was curous. However I would like to put a point here It dosen’t matter who came first or what happend – I thought IIM guys are genius with world at their feet – then why is there so much of NVA happening here. Always invest in VA work.
is that experience is must and should
Hmm….. This article is a bit old now… But IIM Calcutta has repeated, and probably even bettered, their feat in 2010 too!!! So looks like IIM Calcutta is definitely on an upswing now…. It seems that no matter what the usual rankings say, the industry rates them as the absolute no. 1! And the industry has given them the best placements for two years in a row! Guess we will see them rise in the usual rankings too very soon…. I have a few calls this year, I really hope to convert C!!!!!!!