Even as the premier Indian Institutes of Management (IIMs) are reeling from the placements of the two-year post-graduate programme (PGP), the country’s premier business schools are faced with yet another Herculean task of securing jobs for the one-year executive programmes amid slowdown.
Most IIMs have pushed the date of final placements for their executive education programme in order to accommodate companies to absorb all its students. At IIM-Lucknow (IIM-L) and IIM-Ahmedabad(IIM-A), the placement season has been extended and is still continuing, according to sources familiar with the placement process. IIM-A, which usually wraps up its placement process by March, is yet to place all its students. “Although the institute was to make a formal announcement soon after the convocation, there are some students who are yet to be placed. The placements will continue, in all probability, till April-end or may be extended indefinitely,” the source said.
IIM-A Director Samir Barua had recently said that a minority of students are yet to be placed. “There has been some difficulty in placing the batch this year and only a minority is yet to be placed. We hope that the remaining students will be meaningfully placed,” he said.
Similarly, half of the first batch of the International Programme in Management for Executives (IPMX), the one-year residential executive programme at IIM-L, has been placed so far. Around 70 companies have visited the batch of 45 students at its Noida campus for its ongoing final placements.
“The final placement process for the IPMX students is going on and we aim to place all the students by the end of this month and before the convocation on May 16. Seventy companies have visited the campus so far and 40-50 per cent of the students have already been placed. Interesting sectors like manufacturing, service and infrastructure have visited but it is too early to comment further,” said Ajay Singh, chairperson, placements for IPMX at IIM-L’s Noida campus.
But, at IIM-Calcutta, compared to the very difficult task of securing placements for the Post Graduate Programme (PGP) batch against the backdrop of global meltdown, the one-year executive programmes seem to have fared better, in spite of extended placements.
It has achieved 100 per cent placements for its executive management programme, PGPEX batch of 2008-09.
I agree cent percent to the view that IIMs have done a really poor job in PGPX area. They have failed to market the course suitably to the corporates and charging 19 lacs per annum (compared to 5.5Lacs for PGP). Already many good candidates have refused to join PGPX courses by leaving their existing jobs. IIMs must adjust the course fee to the level of not more than 10 Lacs and must market the courses to create a genuine demand. They are accounable to the students.
IIMs have probably mastered the art of gab and this is very much pronounced in their placement reports this year, be it PGP or PGPX. I have some acquaintances in both these programs and situation is far worse than what is reported in the press. Many students are yet to find meaningful jobs worth their toil and expenditure in the IIMs. PGP students have to settle for CTC as low as 4-5 lacs. Situation is much worse in executive programs like PGPX/IPMX. Students are forced to opt for jobs much below their incoming salaries because they have no option and hefty EMIs are sitting on their heads. A large number of students have opted for their previous jobs which IIMs are shamelessly proclaiming as their own effort.
At PGPX such number is approx. 20-25 out of 77 while at IPMX it is much larger at 20 out of 45 and IIMs say they have placed their students in recession times. So think before you jump onto IIM bandwagon and please get the inside story from the participants of recession year.
Posted by: Mayank
April 08 , 2009, 15:58 IST
If not IIM's then wat else???
IIM's are the best of the worst LOT.
Others lie more, because they are not accountable.
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