The two most important factors considered by recruiters during Placements at IIM ABC/FMS/XLRI are
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
Roles that do not require work experience
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.
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.
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.
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:
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.
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.
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.
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.
The students enrolled are:
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.
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:
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
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
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.
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.
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
Placements
Faculty
Curriculum
Alumni
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.
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.