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How much salary do the last 50 MBA students get at final placements at B Schools like IIM Indore, IIFT Delhi, MDI Gurgaon, SIBM Pune, etc.?
Colleges invite companies for placements on the basis of the preference list created by the students themselves. This means that the most preferred companies visit in the initial days while the least preferred companies visit towards the end. This eventually means that the last of the batch gets placed by mediocre companies.
Now here is a fact, sometimes the companies visiting at the end in order to get higher preference and attract maximum students, offer high packages that are at par with the preferred companies.
My uncle was a placement coordinator at IIFT a few years ago and gave me an insight into the placement scenario of such B Schools. Numerically speaking if the median salary of a particular B School is X, then the packages offered to the last 59 students would be around 0.6X-0.7X.
|
College Name |
Median Salary |
Salary expected by last 50 candidates |
|
IIM Indore |
INR 24.09 LPA |
INR 16.8 LPA |
|
IIFT Delhi |
INR 25.6 LPA |
INR 17.9 LPA |
|
MDI Gurgaon |
INR 24 LPA |
INR 16.8 LPA |
|
SIBM Pune |
INR 20.80 LPA |
INR 14.5 LPA |
The approximate salary offered to the last 50 candidates of the B Schools you mentioned is around 15-17 LPA.
Kindly note that these figures are based solely on guesses and anecdotes from my juniors, and are just meant to give an idea of the salary.
Indian Institute of Management: Which one should I choose between IIFT, Delhi and MDI, Gurgaon?
I know a friend who was in a similar dilemma but she chose IIFT for the following reasons
- Finance: IIFT is among only a few Finance campuses in the country. Almost 50% of the batch are Finance majors. The campus is visited by big names in the sector including Goldman Sachs, JP Morgan, and Axis Bank which recruit in large numbers.
- Batch size: The small batch size at IIFT Delhi makes it a more probable choice than MDI Gurgaon. Comparing the placement reports one may infer that the statistics are almost similar except for IIFT having a slight advantage due to its stronger alumni base. This is because for the same role, you will be competing with lesser people in IIFT whereas more people in MDI Gurgaon.
- Degree certification: MDI Gurgaon grants you a PGDM degree whereas IIFT grants you an MBA degree. While the similarity and equivalence is well known within the country, it might be a challenge to establish the same outside India.
- Alumni base: IIFT Delhi has been established for 59 years and consequently boasts of a richer stronger alumni network than MDI Gurgaon.
- Accreditation: IIFT is under the Ministry of Commerce, Govt. of India which also audits its placement reports.
- Entrepreneurship: IIFT encourages entrepreneurship through imparting knowledge on trade apart from the regular finance, marketing, and strategy courses like other B schools.
Many people I know chose IIFT over MDI Gurgaon after doing healthy research and a comparison of the two. You can do the same but remember not to focus solely on placement reports as IIFT placement reports are of the Delhi and Kolkata campuses combined and Delhi alone is much better.
Which one is better: IIFT Delhi, JBIMS or SP Jain (Marketing) if I was looking for good placements and brand and I have converted all three?
To choose a college that is perfect for you, one needs to ponder various questions repeatedly. These questions will help you get a clear idea about what you want from MBA and which college will help you achieve that.
- Which area do you want to specialize in?
- Are you included towards functional level clarity (Operations, Finance, Marketing, Tech) or granular level clarity (FMCG marketing/Digital e-commerce marketing/Sales or Product Management/Project Management or General Management)
If the answer to it is yes, then analyze the reports of these institutes to find where each one of them stands. Looking at average CTC is not the right way and is in fact misleading.
Other things you should consider before choosing a B School are
- The admission procedure and the level of difficulty of entrance exams if these colleges
- The practicality and relevance of the curriculum as per the recent industrial trends
- The profiles of your batchmates and their diversity The size and brand of the alumni base and the opportunities you will be availing through them
- The importance of overall personality grooming
One thing you should keep in mind is that brands are just a stepping stone in your career journey and not the main factor. These institutes have been able to establish the brand name mainly because of where their alumni have reached now. So brands are helpful in the short run only.
Do you know anyone who got into a top b-school (IIMs, XLRI, JBIMS, NM, IIFT, FMS etc.) with average UG percentage?
Yes, I do know a friend who managed to get calls from many top B Schools despite having an average Undergraduate Score. Her profile looked like this
- 10th- 76%
- 12th- 68%
- UG- 64%
Although her marks witnessed a gradual decline, she was lucky enough to study at XLRI. Past academics are considered as one but not the major factors at XLRI, unlike IIMs that focus a lot on past academics. A good XAT and GD-PI score can compensate for your poor academic record at XLRI, FMS, and JBIMS. NITIE is a top B School that does not consider past academics at all. My friend with her average profile managed to convert NITIE, XIMB, and all the IIMs except for the top ones obviously. So we can safely assume that admission into these top B Schools is possible even with an average profile provided that you score excellently in the CAT or XAT and the GDPI round.
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