B Krishna Mohan / Hyderabad Apr 02, 2009, 00:55 IST
Only 57% students placed so far.
For the first time since its inception, the Indian School of Business (ISB) has extended its placement season indefinitely. Only 250 of the 440 students (around 57 per cent) in the class of 2009 have secured jobs in the placement drive that began in early January.
Placements should have been completed by the end of March, and the campus would have been readying for graduation day in the first week of April. However, the slowing economy appears to have taken a toll on this prestigious B-school, which ranked 15 in the 2009 global MBA rankings released by the Financial Times. Over the years, the placement trends were analysed and results announced by graduation day, scheduled for April 4. This year, that is unlikely to happen. There are already hints of a fall in the annual average salary offers from Rs 18-20 lakh to Rs 13-15 lakh.
In 2007, 581 offers were made to 416 students. In 2008, 657 offers were made to 421 students.
The IT-ITeS, finance and real estate sectors combined made 280 job offers in 2008. This year, all these sectors have been hit by the slowdown. The school had, in fact, sensed this and started inviting new companies for campus recruitment around November this year.
Many students graduating this April will still have access to ISB’s resources and services over the next few months to find a job. The school will be in regular touch with students to help them find a suitable job that fits students’ profiles.
The school, however, has not fixed any timeframe for students to find jobs. “We will continue to explore avenues till all students find the right job in accordance with their qualifications and work experience,” said an ISB spokesperson.
The premier B-school had earlier announced that it would increase enrolments by 560 to 600 for the class of 2010. It did not, however, explain how it would raise the number of job offers if the job market did not pick up.
ISB has six months to plan for the placement of the new batch after collecting the profiles of the students, their preferences for a sector or function, location choices and so on.
And placements only (even in a downturn) decide who offers the best education?? Typical short sighted mentality! I agree with Sumit. Students at ISB have left successful careers to do an MBA and are less likely to "settle" for jobs that do not do justice to their prior experience and education. In contrast, a fresher (say at an IIM) has no qualms about taking up a Rs 6-7 lakh at a PSUs.
Posted by: VarunS
July 24 , 2009, 13:13 IST
ISB is a premier B School with Kellogs, LBS, Wharton to its fore but those are all the factors that do not influence the placements which overdebted enrolments vie for. Out of the creme de la creme of the ISB class this year, naturally the best fishes secured the jobs, rest of the people who are anyways obligated to find one 7 fig job must be burning their heels in desperate measures. And i definitely agree, successful career people might have joined isb but their attempt to add this epgp to their cv is outta discontentment with their current success and men with power want more power, a classic rule of capitalism leaving the rest of the layer vying for frustration and sullen dreams.
Posted by: ThatisISB
April 09 , 2009, 01:17 IST
Very few in ISB have left successful careers to be in ISB - if they were indeed successful they would not have joined ISB. The few who did are getting highlighted very often and the rest of the mediocres are ignored. Whatever they may have dreamed of earlier, as of now anyone not yet placed in ISB is willing to take a Rs.5 lakh job if there is one available. But by quoting high salaries in the past the low salary paying employers are not willing to even go to ISB.
I recall a classic Warren Buffett quote :
"Only when the tide goes out,that you learn who's been swimming naked".
Same applies to ISB which was making such a humongous deal about its FT ranking and trying to claim the spot of best BSchool in India.I think ISB is still light years behind the IIMs & this article shows why it is so.
Posted by: Isthatso
April 07 , 2009, 15:12 IST
So, did you study at either of these institutes? Recent rankings have been very objective. The difference average age group, work experience and background of students at ISB and IIMs tells the full story. As already mentioned by others, a majority of IIM students would jump at any decently paying job while the ISB lot actually choose what they want to do (I know of IAS officers, star sportsmen who study there)!! you sure have a prejudice!!
Unlike other schools ISB students have not jumped on to the first job they got. And instead have given the PSUs (who have been big recruiters at other premier schools) and the smaller companies a pass and would rather wait for roles which does justice to their prior experience and education. As far as the class size is concerend, all top global buisness schools have class sizes of 600 to 900. Hopefully we are progressing to a system where placements are not only an institute led but also a student led effort.
Posted by: IIPM
April 05 , 2009, 18:53 IST
Since there is an acute shortage of faculty at ISB, ISB should offer faculty positions to all the students who are not getting corporate jobs. With more faculty, this will help them add more students in the next year and again those who do not get corporate jobs can be made faculty at ISB. Why limit to 900, this way ISB can become the largest business school in the world and expand to all cities like IIPM has already done through sheer genius.
Posted by: Artaaj
April 04 , 2009, 10:18 IST
http://www.albawaba.com/en/countries/UAE/242776
Artaaj among global elite invited to recruit at top business school- The Indian School of Business (ISB), one of the world's best business schools, this year invited Artaaj to join a select group of global companies to recruit from ISB's graduating Master of Business Administration programme.Mr. Jayaraaj said: "We are very pleased to have an ISB graduate joining us on 6 June. Considering the number of options these talented graduates are offered, it is very humbling that they regard Artaaj as a company that can play a significant role in their career development.
There is no reason for ISB to keep increasing number of seats and lowering the admission criteria. Corporate world knows it that how good are your students expect the first 100 or so. So you cant expect to have 15Lakh salary job for your 600 stdents. I fear it has to go down to 4-5Lakh avg salary if all 600 has to be placed. This will included all tier III IV companies for recruitment.
Maintaining global 15th ranking is almost impossible in that case.
Posted by: Puri
July 20 , 2009, 20:55 IST
Dear All,
First of all thanks for your valuable views.
I totally agree that ISB should not increase the number of intakes, if they want to sustain their ranking or to improve the ranking from the current position. Right now they have to focus to increase their potential in terms of faculty, infrastructure, information flow and the corporate world requirments must be fulfilled at any cost.
Secondly the Bschool ranking is totally depends on their passout students efforts who make the future of the school gud/ bad.
Posted by: raj
April 02 , 2009, 12:36 IST
In these times of financial extremes, ISB should also consider their decision to hike fees to Rs 20 Lac. Agreed that ISB provides '5 star' facilities for accomodatation, canteens etc..But such things are required for a educational campus? I hope some of the hype surrounding ISB (and other b schools) comes down so that students can make rational decisions with realistic expectations. I also hopes that ISB does not relax the merit crieteria (minimum GMAT Score) to accomodate such high no of seats...
Posted by: Ab+
April 02 , 2009, 12:13 IST
Right said Kumar.
ISB shouldn't have gone beyond 200.
Also, ISB has 15 rank for ROI, now that the Jobs are not there one wonders where the ranking will go.
If any ISB student is reading this, I have a business plan.
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