It’s not at all a good sign for the Indian Institute of Management (IIM), that its average placement package in dipping. The level of IIM is deteriorating day- by- day as the least average placement package this year significantly fell to Rs 8 lakh. The Ministry of Human Resource Development (MHRD) is showing concern on this matter as they fear that such a dip in the placement package of IIM will tarnish the image of the institution.
IIMs average placement package is dipping
Talking about the average placement package at IIM this year, the MHRD opines that the newly opened IIMs are proving to be less result than oriented than the older IIMs. That is the reason why the students graduating from the new IIM are unable to fetch placement for themselves. For the first time in the history of IIMs, 4 students of IIM Bodh Gaya could not manage to get the placement.
However, the students of old IIMs got just the double average placement package than their new counterparts. Rs 15 lakhs was the average placement package that the students of IIMs old campuses including IIM Calcutta, Bangalore, Ahmedabad, Lucknow, Kozhikode, Indore have got this year.
Reason behind the IIMs low average placement package
There isn’t any concrete reason behind the low average placement package of new IIMs but companies are also looking for looking for recruitment on low wages. When compared with the IIM Raipur or Ranchi, the IIM Nagpur, Bodhgaya, Sambalpur, Sirmour, Visakhapatnam, Udaipur, and Kashipur come up with inferior standards, which proportionately affects the average placement packages of the students studying at IIMs. In fact, many IT companies in India, hire these IIM pass-outs on low packages just to replace their old employees and cut down their annual expenditure.
Let’s hope that the Ministry of Human Resource and Development (MHRD) will soon work out on the matter of how to retrieve back the image of all the IIMs across India and its average placement packages. Also, the institute, IIM should work on their curriculum in order to produce graduates with the higher ranking so that no big and reputed companies will turn down their application for the job on high perks.