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How are the placements for engineers with no work experience at the IIMs, FMS Delhi and XLRI?

TA
Tarun Anand Posted On : December 29th, 2022
MBA in Finance, Faculty of Management Studies, University of Delhi (Graduated 2019)

The two most important factors considered by recruiters during Placements at IIM ABC/FMS/XLRI are

  1. Brand of UG College - SRCC/Old IITs/BITS/CA
  2. High Academics - University RankHolders, City Toppers in Boards, or at least Department Rank Holders with 8.5+ in Engineering. 

MBA scores are of much importance during Final Placements but are Not available during summer placement.

If you have passed the above criteria, you are most likely to land any job. Still, I have segregated the roles that require work experience and the roles that do not.

Roles that require work experience 

  • Operations/Supply chain/product management. 
  • Any role will require work experience if your above 2 criteria are not up to the mark.

Roles that do not require work experience 

  • Consulting
  • Investment Banking
  • PE/VC
  • Marketing 
  • Corporate Finance roles

So most of the jobs do not require work experience. Even if they do only non-engineering work experience is of value unless you want to go into Operations/Supply chain/product management.

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Why do you want to join IIM Ahmedabad and not ISB for an MBA?

AB
Aashna Bose Posted On : July 26th, 2021
Studied at IIM Ahmedabad (2019)

During my sister’s graduation, she was considering both IIM Ahmedabad and ISB for MBA. At last, she chose IIM Ahmedabad. Also being a student there myself, I can assure you that it is a far better institution than any other in India.

Here are some things that make IIM A stand out.

  • It has a much larger, accomplished, and well-recognized alumni network, unlike ISB.
  • IIM A offers a 2-year full-time MBA which has more value than a 1-year PGPM course that ISB offers.
  • IIM A has a more relaxed, and easy to grasp course curriculum with 6 terms in 2 years. ISB is a slightly cramped and hectic curriculum with 8 terms in 12 months.
  • At IIM A you will have the opportunity to interact with your seniors.
  • IIM Ahmedabad grants admission on the basis of CAT, which is supposed to be tougher, comprising quantitative aptitude and data interpretation.
  • ISB students get admission through GMAT, which focuses more on communication and logical reasoning.
  • More than 95% of the IIM Ahmedabad batch gets placed on campus with great packages.
  • More than half the ISB batch go back to the companies they were previously working in, or back to their family business.
  • Due to a large number of international professors, the fees at ISB are slightly higher as compared to IIM Ahmedabad.
Categories MBA at IIM Ahmedabad MBA at ISB
Course Fee 23 lakh 31.35 lakh
Highest CTC 45-60 LPA 30 LPA
Average CTC 23-25 LPA 24 LPA

Many top recruiting companies participate in the placement program at IIM A. They include Microsoft, Google, Mindtree, Nerolac, Loreal, Capgemini, Asian Paints, KPMG, HSBC, ICICI Bank, Kotak Mahindra, CitiBank, Godrej, Mercedes, etc. So if you are fortunate enough to get selected in both IIM A and ISB, choose IIM Ahmedabad without any second thought.

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Is ISB better than IIM Ahmedabad for someone wanting a career in product management in India?

RS
Rachit Sengupta Posted On : April 12th, 2023
studied at Indian School of Business

If you're considering pursuing a career in product management, it's important to choose the right business school that offers the best program and opportunities for this field. While both ISB and IIMs are well-known institutions for management education in India, there are some key differences to consider when it comes to their product management programs.

Here are some factors to keep in mind:

  • Product management is not a top preference at IIMs: Unlike some other business schools, product management is not a major focus at the IIMs. As a result, there are relatively fewer opportunities for students to learn about and pursue careers in this field. While some IIMs do offer product management courses, these are often not as comprehensive or specialized as the programs offered by other schools.
  • Limited recruitment for product management roles at IIMs: Due to the relatively lower focus on product management, not many companies that recruit from IIMs offer roles in this field. This means that even if you do take up a product management course at an IIM, you may find it difficult to secure a relevant job after graduation.
  • ISB offers a better program for product management: On the other hand, it has a well-regarded program for product management. The school offers a specialization in product management as part of its PGPM which covers a range of topics such as product strategy, marketing, and innovation. 
  • More opportunities for product management roles at ISB: Because of its strong program for product management, ISB attracts a lot of recruiters from companies looking to hire for roles in this field. This means that you are more likely to find relevant job opportunities after completing your degree at ISB, compared to IIMs.
  • IIMs are better for finance roles: While ISB may be the better choice for product management if you're interested in pursuing finance roles across private equity (PE), venture capital (VC), investment banks, or hedge funds, then IIMs are still the way to go. These schools have a strong reputation for finance education, and many top companies in these fields recruit heavily from IIMs.

If you're set on pursuing a career in product management, and you have a choice between ISB and IIMs, then ISB may be the better option. However, if you're open to other fields such as finance, then IIMs still have a lot to offer.

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I have converted IIM Ahmedabad solely because of my reservation category and luck. I am too scared of joining it. Should I go to IIM Indore instead?

LS
Lovely Singh Posted On : January 5th, 2023
Studied at the Indian Institute of Management Indore (Graduated in 2021)

Your life success is determined by your abilities and luck. When you are chosen for IIM Ahmedabad, you have met the minimum requirements, which means you are competent. So it makes no difference that you received affirmative action for your support.

A study was once conducted at the University of Michigan Law School to determine whether students who received the highest score on their standard test were more "successful" than those who received affirmative action-based admission. They discovered that ten years later, there was no difference in their performance and that they were all equally good lawyers.

More than half of IIM Indore students, and even more at IIM Ahmedabad, would admit that luck plays an important role. You should go to IIM Ahmedabad. The peer learning factor would be superior to IIM Indore.

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Can people get admission in IIM A if they retake the CAT while studying at a lower ranked IIM/FMS/XLRI?

NJ
Nikhil Jain Posted On : May 31st, 2021
Studied Marketing & Operations Management at Indian Institute of Management, Tiruchirappalli, Tamil

Yes, many of my friends have enrolled at IIM L after completing a year at one of the new IIMs. Your only requirement is a strong profile, a high CAT score, and a compelling reason for quitting your current business school. 

However, the opportunity cost should be considered while making this decision. This option is only practical if you come from the second generation of a new IIM or a 3 tier B-school. But you should not leave FMS or XLRI for IIM A after studying for a year in these universities. Since the opportunity cost would be too great in this circumstance.

Never consider leaving because the two years you spend there will change your perception. Newly established IIMs may, without a doubt, admit students with a lower percentile. But this is not an indication of inferior quality.

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How does IIM, Ahmedabad teach an MBA?

IK
Ishan Kumar Posted On : July 28th, 2021
Studied at XLRI Jamshedpur (2019)

An MBA is not a course that can be taught. According to my friends at IIM Ahmedabad, the institute offers the students an official learning platform that helps them in learning management in a curriculum structured for around 18–19 months.

  • There is an interactive environment where teachers discuss various cases with students.
  • The cases discussed include the dos and don'ts for companies and managers.
  • A presentation environment is there wherein the students are allocated with group assignments. These assignments then get evaluated in front of other students and faculty members.
  • Overall, diversity is great for learning, overall growth, and development.
  • IIM Ahmedabad offers industrialexposure. This can help you a lot in gaining new experiences and learning various things about corporate life.
  • The course curriculum will prepare you for real-life job experiences and help you to learn the different aspects of finance, marketing, HR, IT, in addition to the basics of business law, public policies, etc.
  • You would surely attain a good overview and understanding of the various functions and aspects of the management domain.

The students enrolled are:

  • Fresher or people with 4–5 years of work experience.
  • From almost every region of India.
  • From International exchanges that are offered by the Institution.
  • The students have the profession ranging from Dentists to Engineers, Architects to economists.

In conclusion, the overall experience that the institute offers can teach you a lot about the various aspects of management along with what the curriculum offers.

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How much do the top B-schools like the IIMs FMS, MDI, XLRI, SP JAIN, JBIMS, IIFT, and NITIE inflate their placement reports?

HP
Hardik Pandya Posted On : February 28th, 2023
MBA Finance, Indian Institute of Foreign Trade, Delhi (2016)

In the placement process, it is not always the B-Schools that are responsible for reporting inflated packages, but rather the companies. The figure reported by placement cells is referred to as the "Cost to Company" (CTC) and not the take-home salary. This means that simply dividing the CTC by 12 is not an accurate reflection of what you will receive in your bank account each month.

CTC consists of two main components: fixed and variable. The fixed component includes your basic salary, HRA, TA, LTA, employer's contribution to the provident fund, joining bonus, retention bonuses, and ESOPs. The variable component is based on both your performance and the company's performance and is paid out in lump sums either yearly or half-yearly.

Your take-home salary at the end of each month is calculated as basic salary + HRA + TA + other allowances - provident fund deduction - tax. The remaining amount is given to you at the end of the year. To illustrate how companies may inflate their CTC figures, here are a few examples:

  • Amazon:

Fixed component: 9 lakhs

Year 1 end retention bonus: 2 lakhs

Year 2 end retention bonus: 1.5 lakhs

ESOP: 5 lakhs to be paid over 3 years

Performance bonus: separate/not reported CTC: 17.5 lakhs

Take-home salary: 65-70k

  • Goldman Sachs:

Fixed component + Variable component: 14.5 lakhs

Relocation: 2,00,000 INR (one-time payment)

Supplemental Salary: 3,50,000 INR (supplemental salary is an accrued bonus paid out in monthly installments pro-rated from the date of joining, only applicable during the first year of joining)

CTC: 20 lakhs

Take-home salary: 95-98k

  • RBS India Development Center (Royal Bank of Scotland back-end):

Fixed component: 9 lakhs

Variable component: 10-20% of a fixed component

CTC: 10.8 lakhs

Take-home salary: 65-68k

As seen from the examples, despite Amazon having a CTC that is double that of RBS IDC, their take-home salary is the same. This is the typical way it works. The placement teams likely do not have much control over the process.

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What should I do as an undergrad to get into IIM Ahmedabad, IIM Bangalore or IIM Calcutta?

SS
Samiksha Sharma Posted On : November 21st, 2022
MA in Social Work, Jamia Millia Islamia (Graduated 2021)

As an undergraduate, you must complete the following tasks:

  • Better 10th and 12th-grade point averages, at least above 80% in both.

  • Maintain your academic focus.

  • Choose a non-engineering subject for your undergraduate studies. It will help your profile.

  • Attempt to score above the 99th percentile on the CAT. If you want, you can do coaching during your undergrad.

  • Enhance your communication and writing abilities. This will be beneficial in WAT and GD/PI. If you want, you can join Toastmasters or start a blog.

  • If you want, try to participate in some extracurricular activities. This will not improve your IIM chances (unless you have a national-level certificate), but it will add some vibrancy to your profile. Activities can range from being a member of a club or placement cell to creating your own YouTube channel.

  • Perform some internships or work as a freelancer on a project. It will provide fodder for conversation in interviews.

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What is your review of Life at IIM Ahmedabad?

AT
Arush Trivedi Posted On : July 28th, 2021
Studied at Lovely Professional University (2019)

Some of my friends studied at IIM Ahmedabad. According to them it is one of the best management colleges in India. Here’s some points about the college I gathered from them.

Infrastructure

  • It has an extremely good campus infrastructure with classrooms, laboratories, libraries, sports complexes, auditoriums, that are up to the mark.
  • The campus also offers WI-FI connectivity 24*7.
  • The Hostels and Mess are also well equipped with numerous facilities.

Placements

  • The institution has a well-organized placement committee.
  • IIM Ahmedabad has a record of 100% student placements and summer internships for the past few years.
  • The highest salary package goes up to 60 LPA.

Faculty

  • The teachers appointed are highly qualified and have years of industry experience.
  • They are also involved in research work and also offer consultancy services to many companies.
  • The discussions in classrooms among students and faculty members are extremely enriching.

Curriculum

  • The curriculum for first-year students is compulsory and covers topics like accounting and finance, behavioral science, communication, economics, IT, marketing and many more.
  • You will be required to do an internship for around 8 to 10 weeks at the end of the first year of college.
  • The course curriculum of the second year offers the students numerous opportunities to pursue studies in the fields of their interests along with several mandatory courses.
  • The mandatory courses can provide you with a global and domestic context in the areas of entrepreneurship, and sustainability.

Alumni

  • The Alumni network at IIM Ahmedabad has developed over the years and is surely one of the best.
  • Industry leaders have been alumni of IIM A and a lot of them visit the campus regularly.

The overall environment is really good as not a lot of limitations have been imposed upon the students by the college authorities. The student crowd of the institution is also extremely good. Thus it is a good place for the students.

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What can be the salary at McKinsey for those with IIT Bombay & IIM Ahmedabad qualification & about 10 yrs into management consulting?

KP
Konark Pandey Posted On : November 22nd, 2022
PGP-PGDM from Indian Institute of Management Calcutta (Graduated 2019)

This answer is based on the assumption that you joined McKinsey right after leaving IIM Ahmedabad and have been working constantly ever since.

In that case your tenure, your current salary should be around 2 crores. This includes the fixed, bonus and dividend.

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