An innovation expert from the Massachusetts Institute of Technology (MIT) will be visiting the Indian Institute of Management, Ahmedabad (IIM-A), in November to promote the importance of user-based innovations in creating successful companies.
"India and Indians residing worldwide have a wonderful record as innovators and entrepreneurs. I believe users tend to be the real developers of many important products. Recently, research by my colleagues has shown that many new companies are started by users who become entrepreneurs. Learning about how user innovations foster the creation of successful new companies will be very useful information for IIM students and others in India," says Eric von Hippel, professor and head of Innovation and Entrepreneurship Group at the MIT Sloan School of Management and professor of Engineering Systems at MIT.
It will be his first trip to India, which he also intends to use "to forge closer contacts with my colleagues at IIM-A, who have very similar research interests".
The lecture is part of a two-week long 'Inventors of India' workshop by the Centre for Innovation, Incubation and Entrepreneurship (CIIE) at IIM-A. About 70 inventors and innovators of all ages and technical background are expected to be present at the event. Premier institutes could also be called to participate at the workshop.
"Eric will participate and may give the inaugural address at the workshop. In addition, he will interact with the faculty and students and explore possibilities of collaborative research. Apart from visiting some grassroot innovators, he will interact with our incubatee companies as well. Several things are being planned and we are quite excited about his visit. Also, we may ask institutes like National Institute of Design (NID) and Mudra Institute of Communications, Ahmedabad (MICA), to pitch in," says Rakesh Basant, chairman of CIIE and a professor at IIM-A.
An expert in Principle of Developing Economics, Eric has made two of his books available openly on his website at no cost to the reader: Democratising Innovation, published in 2005 by the MIT Press, and Sources of Innovation, published in 1988 by Oxford University Press. Leading companies in the world have used practical methods based on his research.
Hippel is also expected to meet grassroot innovators at SRISTI, an NGO founded by Anil Gupta, a professor at IIM-A. Incidentally, Gupta too would be lecturing at MIT as part of the Amy Smith's International design and development course on July 16-17.
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Showing posts with label IIMA. Show all posts
Showing posts with label IIMA. Show all posts
Friday, July 11, 2008
IIM-A to get 4 new subjects
In a regular course committee meeting held at Indian Institute of Management, Ahmedabad (IIM-A) for Post Graduate Programme for Agricultural Business Management (PGP-ABM), the members approved at least four subjects for the fifth term beginning from end of September.
Students of PGP-ABM will now get to learn subjects like negotiations in agriculture, information technology (IT) for agriculture development, inclusive agriculture business, and agriculture and rural policy design, said a senior faculty member at the institute.
"The subjects are a result of several recommendations that the institute received around the year from faculty members, subject experts and students at the institute. While the committee has approved these subjects for the fifth term, the implementation will depend upon the instructors as well as students," he said.
Implementation of the subjects approved by the committee depends upon the number of registrations received from the students.
"There is an upper and a lower limit for registration of these subjects. If the registration doesn't fall in the limit, they are taken up as projects instead of subjects," added the faculty member.
Students of PGP-ABM will now get to learn subjects like negotiations in agriculture, information technology (IT) for agriculture development, inclusive agriculture business, and agriculture and rural policy design, said a senior faculty member at the institute.
"The subjects are a result of several recommendations that the institute received around the year from faculty members, subject experts and students at the institute. While the committee has approved these subjects for the fifth term, the implementation will depend upon the instructors as well as students," he said.
Implementation of the subjects approved by the committee depends upon the number of registrations received from the students.
"There is an upper and a lower limit for registration of these subjects. If the registration doesn't fall in the limit, they are taken up as projects instead of subjects," added the faculty member.
Monday, June 23, 2008
IIM-A maps global pathway
The institute is sure to figure in the top bracket on the FT MBA global rank list for B-schools after its executive programme completes three years in 2009.
In late 2007, when the Financial Times (FT) released its annual ranking of the best business schools in the world, there was an uproar in Indian B-school circles.
While the Indian School of Business (ISB) Hyderabad's one-year Post Graduate Programme for executives made it to the 20th position in the FT Global MBA 2008 ranking list, the Indian Institute of Management Ahmedabad (IIM-A's) Post Graduate Programme in Management for Executives (PGPX) was not included.
Next year, IIM-A could use the same ranking to gain a global footprint.
Having entered its third year, the PGPX will now be eligible to be listed for the FT MBA rankings.
The FT MBA ranking is considered one of the most prestigious B-school ratings in the world and uses over 20 parameters to determine the rankings. The criteria include weighted salary, placement success rank, alumni recommendation rank, international mobility rank, doctoral rank and research facilities.
To be eligible to participate, a business school must be internationally accredited by a body such as the AACSB, Amba or EQUIS; it must have a full-time MBA programme operational for at least five years; and its first class must have graduated at least three years ago.
When PGPX did not find a place in the FT MBA list, institute director Samir Barua had written an e-mail to all alumni members.
In the email, he said: "If the same criteria were to continue for inclusion in the list for ranking MBA programmes, the PGPX would qualify only in 2010. Till then, no programme of IIMA would qualify for ranking of MBA programmes by the FT.
For the PGP, the Institute has been informed by the FT that the programme qualifies for inclusion in the list of programmes for ranking as Masters Programme in Management. If the institute decides to participate in this (Masters Programme in Management) ranking by the FT, then the PGP will be included under this category."
The institute has just bagged the European Quality Improvement System (EQUIS) accreditation, the international system of quality assessment, improvement and accreditation of higher education institutions in management and business formed by the European Foundation for Management Development (EMFD), becoming the first B-school in the country to have obtained the same.
"Since we are completing three years of the PGPX programme, we will be eligible for the FT-MBA global rankings. Once listed, we are confident of placing the programme on a global map," said Arvind Sahay, chairperson, PGPX, IIM-A.
IIM-A had also taken up internet marketing initiatives considering that for most executives across the world, the web would be the first information access point. It had also designed separate brochures for Indian and overseas students.
In late 2007, when the Financial Times (FT) released its annual ranking of the best business schools in the world, there was an uproar in Indian B-school circles.
While the Indian School of Business (ISB) Hyderabad's one-year Post Graduate Programme for executives made it to the 20th position in the FT Global MBA 2008 ranking list, the Indian Institute of Management Ahmedabad (IIM-A's) Post Graduate Programme in Management for Executives (PGPX) was not included.
Next year, IIM-A could use the same ranking to gain a global footprint.
Having entered its third year, the PGPX will now be eligible to be listed for the FT MBA rankings.
The FT MBA ranking is considered one of the most prestigious B-school ratings in the world and uses over 20 parameters to determine the rankings. The criteria include weighted salary, placement success rank, alumni recommendation rank, international mobility rank, doctoral rank and research facilities.
To be eligible to participate, a business school must be internationally accredited by a body such as the AACSB, Amba or EQUIS; it must have a full-time MBA programme operational for at least five years; and its first class must have graduated at least three years ago.
When PGPX did not find a place in the FT MBA list, institute director Samir Barua had written an e-mail to all alumni members.
In the email, he said: "If the same criteria were to continue for inclusion in the list for ranking MBA programmes, the PGPX would qualify only in 2010. Till then, no programme of IIMA would qualify for ranking of MBA programmes by the FT.
For the PGP, the Institute has been informed by the FT that the programme qualifies for inclusion in the list of programmes for ranking as Masters Programme in Management. If the institute decides to participate in this (Masters Programme in Management) ranking by the FT, then the PGP will be included under this category."
The institute has just bagged the European Quality Improvement System (EQUIS) accreditation, the international system of quality assessment, improvement and accreditation of higher education institutions in management and business formed by the European Foundation for Management Development (EMFD), becoming the first B-school in the country to have obtained the same.
"Since we are completing three years of the PGPX programme, we will be eligible for the FT-MBA global rankings. Once listed, we are confident of placing the programme on a global map," said Arvind Sahay, chairperson, PGPX, IIM-A.
IIM-A had also taken up internet marketing initiatives considering that for most executives across the world, the web would be the first information access point. It had also designed separate brochures for Indian and overseas students.
Friday, June 13, 2008
IIM-A wins global accreditation
The Indian Institute of Management, Ahmedabad, has been accredited by EQUIS (European Quality Improvement System), a leading international accreditation body for business schools.
Thursday, May 29, 2008
Duke may push talent search
With its three-week summer studies program for Grades 7-10 running successfully at Indian Institute of Management, Ahmedabad (IIM-A), Durham-based Duke University is mulling to expand its Talent Identification Programme (TIP) in India.
Through TIP, Duke University identifies academically talented students through centralised tests and offers them challenging and innovative educational programs and conducts research on the nature of such talent.
Launched in 1980 in the US, TIP was recently introduced through its collaboration with IIM-A in India, the only other country to feature the programme. Already a week into the program, which comprises 34 students selected from 13 schools in four cities including Ahmedabad, Delhi, Bangalore and Hyderabad, Duke has already begun evaluating options for expanding TIP in India.
"We are evaluating possibilities of introducing either e-studies or distant learning courses for students belonging to grades 8-12. While the current program is being sponsored by Duke in association with IIM-A, next year we might go for fee-based programs or corporate sponsored programs," said Martha Putallaz, executive director, Duke TIP.
Through e-studies, the university intends to conduct common educational programs for students from different countries like the US and India through video conferencing and online studies.
The university may also go for student exchange programs if need be, added Putallaz. Under the current Summer studies program, students are trained in Java-based video gaming and engineering problem-solving by faculties from Duke University at IIM-A which are derived from the graduate-level curriculum.
Through TIP, Duke University identifies academically talented students through centralised tests and offers them challenging and innovative educational programs and conducts research on the nature of such talent.
Launched in 1980 in the US, TIP was recently introduced through its collaboration with IIM-A in India, the only other country to feature the programme. Already a week into the program, which comprises 34 students selected from 13 schools in four cities including Ahmedabad, Delhi, Bangalore and Hyderabad, Duke has already begun evaluating options for expanding TIP in India.
"We are evaluating possibilities of introducing either e-studies or distant learning courses for students belonging to grades 8-12. While the current program is being sponsored by Duke in association with IIM-A, next year we might go for fee-based programs or corporate sponsored programs," said Martha Putallaz, executive director, Duke TIP.
Through e-studies, the university intends to conduct common educational programs for students from different countries like the US and India through video conferencing and online studies.
The university may also go for student exchange programs if need be, added Putallaz. Under the current Summer studies program, students are trained in Java-based video gaming and engineering problem-solving by faculties from Duke University at IIM-A which are derived from the graduate-level curriculum.
Tuesday, April 29, 2008
Scholarships at IIM-A to pinch 20% of new fee
Effective fee to be Rs 8.4 lakh vis-a-vis the official Rs 11.5 lakh.
Even as the decision of the Indian Institute of Management, Ahmedabad (IIM-A) to implement the almost 190 per cent fee hike for the Post Graduate Programme (PGP) got flak from the HRD ministry, internal calculations done by the institute have revealed that taking into account need-based scholarships, the average fee for a student could be as low as Rs 4.2 lakh per year (Rs 8.4 lakh for two years).
IIM-A has proposed a fee hike from Rs 4 lakh to Rs 11.5 lakh for its two-year PGP this academic year.
Despite the fee hike, for the coming batch, nearly 65 per cent of students are expected to be covered under financial assistance which is expected to bring down revenues from fees for the institute.
IIM-A will implement the Other Backward Classes (OBC) reservation of 6 per cent (17 seats) this year, where the institute is set to offer a certain amount of fee waiver to all OBC students.
Even as the decision of the Indian Institute of Management, Ahmedabad (IIM-A) to implement the almost 190 per cent fee hike for the Post Graduate Programme (PGP) got flak from the HRD ministry, internal calculations done by the institute have revealed that taking into account need-based scholarships, the average fee for a student could be as low as Rs 4.2 lakh per year (Rs 8.4 lakh for two years).
IIM-A has proposed a fee hike from Rs 4 lakh to Rs 11.5 lakh for its two-year PGP this academic year.
Despite the fee hike, for the coming batch, nearly 65 per cent of students are expected to be covered under financial assistance which is expected to bring down revenues from fees for the institute.
IIM-A will implement the Other Backward Classes (OBC) reservation of 6 per cent (17 seats) this year, where the institute is set to offer a certain amount of fee waiver to all OBC students.
Review committee skirts fee hike issue at IIM-A
The Indian Institute of Management (IIM) review committee, headed by R C Bhargava, has clarified that the issue of fee hike at the IIMs was not discussed at its meeting with the stakeholders of IIM-A today.
Insisting that the committee was not a ‘Super IIM’ to watch over the institute, Bhargava said hiking of fees was a decision that each IIM had to take, and that the panel had only suggested a deferment of the fee hike to the HRD ministry, not to the IIMs.
Sources present at the meeting say the fee issue was deliberately not tackled by the review committee as it did not want to discuss the issue with IIM-A further.
The meeting, instead, revolved around issues like autonomy, finances, accountability, corporate governance, administration, goals, policies and vision of the institute.
However, the committee’s recommendation would assume significance if it is accepted by the HRD ministry despite the fact that IIM-A has shown no indication of rolling back the fee hike.
Sources point out that most of the recommendations made by the previous IIM review committees in 1971 (Nanda committee) and 1992 (Kurien committee) were accepted by the HRD ministry, which went on to become directives for the IIMs. In case the Bhargava committee’s fee recommendation is accepted by the ministry, it will be binding on IIM-A.
Insisting that the committee was not a ‘Super IIM’ to watch over the institute, Bhargava said hiking of fees was a decision that each IIM had to take, and that the panel had only suggested a deferment of the fee hike to the HRD ministry, not to the IIMs.
Sources present at the meeting say the fee issue was deliberately not tackled by the review committee as it did not want to discuss the issue with IIM-A further.
The meeting, instead, revolved around issues like autonomy, finances, accountability, corporate governance, administration, goals, policies and vision of the institute.
However, the committee’s recommendation would assume significance if it is accepted by the HRD ministry despite the fact that IIM-A has shown no indication of rolling back the fee hike.
Sources point out that most of the recommendations made by the previous IIM review committees in 1971 (Nanda committee) and 1992 (Kurien committee) were accepted by the HRD ministry, which went on to become directives for the IIMs. In case the Bhargava committee’s fee recommendation is accepted by the ministry, it will be binding on IIM-A.
Thursday, March 13, 2008
IIM-A keen to enhance knowledge bank
When Samir K Barua took over as the director of Indian Institute of Management, Ahmedabad (IIM-A) in November 2007, he had listed knowledge creation, hiring and retention of faculty members and increasing contacts with the industry as his priority work areas.
Four months on, Barua is planning a number of initiatives in the upcoming academic year towards achieving his objectives.
Keeping with his focus on knowledge creation for the institute, the director is thinking of making case study writing a must for every student who completes the post-graduate programme (PGP). What’s more, Barua would like the case studies to be focused on social issues.
“We are thinking of an initiative to make case study submissions compulsory for every student. This would add value to the students’ work at the institute and would also help create knowledge resources for IIM-A,” Barua told Business Standard.
He added that case studies in the social sector and concepts like social entrepreneurship would be explored.
Having seen recruiters from varied sectors evince interest in hiring students, the director is keen on introducing new courses in the real estate and insurance sector as part of the PGP’s electives.
Also, incoming batches of students will also be trained in management of luxury products. “The management, marketing and overall business scenario for luxury products is very different from other products. They have to be looked at from a totally different perspective considering the market they are targeted. For this, we will look at starting a course on luxury products,” said Barua.
To tackle the problem of lack of quality faculty members, the director has already sent out offer letters to a number of qualified candidates and is expecting close to 25 of them to join the institute by March 2009. The institute has 84 faculty members currently.
Admitting that he was ‘apprehensive’ about placements this year due to the sub-prime crisis, Barua said most recruiters had been attracted towards the ‘value proposition’ offered by the institute through five different programmes this year.
Other than the flagship two-year PGP and PGP-Agri Business Management programmes, IIM-A had the second batch of post-graduate programme in management for executives (PGPX), first batch of post-graduate programme in public management and policy (PGP-PMP) and the certificate course in business administration for officers of Indian Armed Forces sitting for placements.
Following the footsteps of PGPX, the second batch of PGP-PMP has had a fee hike from Rs 8.5 lakh to Rs 12 lakh and is expected to go up to Rs 15 lakh for the third batch. The batch size will go up from 33 to 45.
Four months on, Barua is planning a number of initiatives in the upcoming academic year towards achieving his objectives.
Keeping with his focus on knowledge creation for the institute, the director is thinking of making case study writing a must for every student who completes the post-graduate programme (PGP). What’s more, Barua would like the case studies to be focused on social issues.
“We are thinking of an initiative to make case study submissions compulsory for every student. This would add value to the students’ work at the institute and would also help create knowledge resources for IIM-A,” Barua told Business Standard.
He added that case studies in the social sector and concepts like social entrepreneurship would be explored.
Having seen recruiters from varied sectors evince interest in hiring students, the director is keen on introducing new courses in the real estate and insurance sector as part of the PGP’s electives.
Also, incoming batches of students will also be trained in management of luxury products. “The management, marketing and overall business scenario for luxury products is very different from other products. They have to be looked at from a totally different perspective considering the market they are targeted. For this, we will look at starting a course on luxury products,” said Barua.
To tackle the problem of lack of quality faculty members, the director has already sent out offer letters to a number of qualified candidates and is expecting close to 25 of them to join the institute by March 2009. The institute has 84 faculty members currently.
Admitting that he was ‘apprehensive’ about placements this year due to the sub-prime crisis, Barua said most recruiters had been attracted towards the ‘value proposition’ offered by the institute through five different programmes this year.
Other than the flagship two-year PGP and PGP-Agri Business Management programmes, IIM-A had the second batch of post-graduate programme in management for executives (PGPX), first batch of post-graduate programme in public management and policy (PGP-PMP) and the certificate course in business administration for officers of Indian Armed Forces sitting for placements.
Following the footsteps of PGPX, the second batch of PGP-PMP has had a fee hike from Rs 8.5 lakh to Rs 12 lakh and is expected to go up to Rs 15 lakh for the third batch. The batch size will go up from 33 to 45.
Wednesday, March 12, 2008
IIM-A student gets intl offer of Rs 1.44cr
This year’s final placement surprise has once again come from the Indian Institute of Management, Ahmedabad (IIM-A).
The premier institute recorded the highest-ever international offer of $360,000 (around Rs 1.44 crore) made by a financial conglomerate (markets) to a Post Graduate Programme (PGP) student.
The offer has broken records set by the institute’s earlier batch, which got between $250,000 and $300,000 (depending on bonuses).
It also beats its own Post Graduate Programme in Management for Executives (PGPX) programme, which recorded the highest salary of $250,000, and the Indian School of Business (ISB), Hyderabad's $269,000.
IIM-A Director Samir K Barua, said, “The highest international acceptances at IIM-A range between $280,000 and $360,000, of which the actual salary on-hand will depend on the bonus component, which will only be known after one year, based on the performance of the students.”
On the other hand, the highest domestic acceptance is in the range of Rs 50 lakh to Rs 70 lakh, which again beats the packages bagged by ISB and PGPX students last year of Rs 60 lakh. Average domestic salary is Rs 17.85 lakh — a 30 per cent jump from last year's figure of Rs 13.7 lakh. Average international salary has touched $119,000 compared with last year's $115,300.
"We were apprehensive about placements this year due to the subprime slowdown, but it went very well. In fact 113 students out of the batch of 255 will be joining the financial sector this year," added Barua.
This year, like last year, consulting has emerged as preferred recruiter among students, with over 30.89 per cent opting for it. Around 19.11 per cent of students opted for finance-markets, 10.98 per cent chose finance IBD, a similar percentage chose finance-general, 6.10 per cent opted for Marketing, 6.91 per cent opted for general management while others chose finance-PE, real estate, operations, entrepreneurship and IT-ITeS.
Continuing with last year's trend, 76 per cent of students chose domestic offers, 11 per cent took up offers in the Asia-Pacific, 7 per cent in Europe, 4 per cent in the US and 2 per cent in the West Asia.
Around 11 students opted out of the placement process this year to start their own ventures. Major recruiters from the banking sector included Goldman Sachs, Lehman Brothers, Morgan Stanley, JP Morgan, Merrill Lynch, Deutsche Bank and Barclays. Consulting majors Monitor Group and Oliver Wyman were new recruiters this year.
Similarly, the institute's PGP-Agri Business Management Programme (ABM) saw 30 companies visit the campus for 30 students. Average salaries increased from Rs 10 lakh to Rs 12.30 lakh.
Consulting attracted 28 per cent students followed by marketing (21 per cent) and finance (17 per cent). Profiles offered by SEWA, FINO and Suminter Organics were at the senior management level.
The premier institute recorded the highest-ever international offer of $360,000 (around Rs 1.44 crore) made by a financial conglomerate (markets) to a Post Graduate Programme (PGP) student.
The offer has broken records set by the institute’s earlier batch, which got between $250,000 and $300,000 (depending on bonuses).
It also beats its own Post Graduate Programme in Management for Executives (PGPX) programme, which recorded the highest salary of $250,000, and the Indian School of Business (ISB), Hyderabad's $269,000.
IIM-A Director Samir K Barua, said, “The highest international acceptances at IIM-A range between $280,000 and $360,000, of which the actual salary on-hand will depend on the bonus component, which will only be known after one year, based on the performance of the students.”
On the other hand, the highest domestic acceptance is in the range of Rs 50 lakh to Rs 70 lakh, which again beats the packages bagged by ISB and PGPX students last year of Rs 60 lakh. Average domestic salary is Rs 17.85 lakh — a 30 per cent jump from last year's figure of Rs 13.7 lakh. Average international salary has touched $119,000 compared with last year's $115,300.
"We were apprehensive about placements this year due to the subprime slowdown, but it went very well. In fact 113 students out of the batch of 255 will be joining the financial sector this year," added Barua.
This year, like last year, consulting has emerged as preferred recruiter among students, with over 30.89 per cent opting for it. Around 19.11 per cent of students opted for finance-markets, 10.98 per cent chose finance IBD, a similar percentage chose finance-general, 6.10 per cent opted for Marketing, 6.91 per cent opted for general management while others chose finance-PE, real estate, operations, entrepreneurship and IT-ITeS.
Continuing with last year's trend, 76 per cent of students chose domestic offers, 11 per cent took up offers in the Asia-Pacific, 7 per cent in Europe, 4 per cent in the US and 2 per cent in the West Asia.
Around 11 students opted out of the placement process this year to start their own ventures. Major recruiters from the banking sector included Goldman Sachs, Lehman Brothers, Morgan Stanley, JP Morgan, Merrill Lynch, Deutsche Bank and Barclays. Consulting majors Monitor Group and Oliver Wyman were new recruiters this year.
Similarly, the institute's PGP-Agri Business Management Programme (ABM) saw 30 companies visit the campus for 30 students. Average salaries increased from Rs 10 lakh to Rs 12.30 lakh.
Consulting attracted 28 per cent students followed by marketing (21 per cent) and finance (17 per cent). Profiles offered by SEWA, FINO and Suminter Organics were at the senior management level.
Salaries for IIM-A graduates up by 20 p.c.
76 p.c. accept offers to work in India
--------------------------------------------------------------------------------
Highest international salary accepted was Rs. 1.44 crore per annum
30 per cent to join consulting sector, 11 to start their own ventures
--------------------------------------------------------------------------------
AHMEDABAD: Contrary to the apprehensions of a general slowdown in the international economy affecting management institutions, students of the Indian Institute of Management, Ahmedabad, fetched an average of 20 per cent higher salaries this year compared to last year.
With the campus placements of the two-year Post-Graduate Programme in Management, Post-Graduate Programme in Agri Business Management, and the newly introduced one-year Post-Graduate Programme in Public Management and Policy completed successfully, a happy IIM-A director, Samir Barua, said at least his institution was not impacted by the economic crisis.
‘Most preferred institute’
He also said that the IIM-A continued to be the most preferred institute for recruitment not only in terms of the diversity of the organisations that participated in the recruitment process but also by the offers made by them.
Prof. Barua declined to draw any comparison between the IIM-A and other management institutions in the country on the issue of salary and said that he was not aware what “bonus” components, which mark a bulk of the total salary package offered by international and Indian companies, had been incorporated in the total average salary in the placements conducted in the campuses of other IIMs .
He also said it would be wrong to judge the performance of the students and the standard of the institutions solely on the basis of the highest salary offered instead of going by the average salary offered to the entire batch by the different companies.
The highest international salary accepted in this year’s campus recruitment went up to Rs. 1.44 crore per annum as against Rs. 1.20 crore offered last year. Even the average international salary offered this year was about Rs. 47.60 lakh , against Rs. 36 lakh last year.
Domestic salary
The average domestic salary jumped up by about 30 per cent from Rs. 13.7 lakh last year to about 17.85 lakh this year while the highest domestic salary accepted was about Rs. 70 lakh.
The chairperson of the IIM-A PGP placements committee, Piyush Sinha, said that though the financial sector was supposed to have been hit hard by the economic slowdown and many companies had imposed “hiring freeze,” as many as 113 of the 255 students of the 2006-08 batch would be joining the financial sector.
Recruitment
The major banks to recruit the graduates included Goldman Sachs, Lehman Brothers, Morgan Stanley, JP Morgan, Merill Lynch, Deutsche Bank and Barclays .
While about 30 per cent of the students would be joining the consulting sector, about seven per cent would go to general management and over three per cent to operations.
At least 11 students in the current year’s batch have already opted out of the placements to start their own ventures.
Pointing out that 76 per cent of the students accepted offers to work in India and another 11 per cent in the Asia-Pacific region, as against the total of 77 per cent last year, Prof. Barua said for the first time a French student, Diane Gabriel, doing her dual degree programme from both the ESSEC business school and the IIM-A, had preferred to stay back in India and would be joining a local company after completing her degree.
Similarly in the Agri Business Management Programme, the average salary offered increased from Rs. 10 lakh to Rs. 12.30 lakh .
For a batch of 31 students, 30 companies participated in the placements which for the first time also saw consultancy and other peripheral companies vying with agro-based industries to recruit the IIMA PGP-ABM students.
Of the first 33-students batch of the PGP-PMP, mainly coming from the government and other public sector organisations for a one-year stint in public management and policy, nine students would be returning to the parent organisations who had also sponsored their IIM-A studies. The salary offered to the remaining 24 students, having an average 12 years of work experience, ranged from Rs. 15 lakh to Rs. 40 lakh per annum with an average of Rs. 24 lakh per annum. Prof. Barua said the batch size for the PGP-PMP course for the next year would be expanded to 45 students.
--------------------------------------------------------------------------------
Highest international salary accepted was Rs. 1.44 crore per annum
30 per cent to join consulting sector, 11 to start their own ventures
--------------------------------------------------------------------------------
AHMEDABAD: Contrary to the apprehensions of a general slowdown in the international economy affecting management institutions, students of the Indian Institute of Management, Ahmedabad, fetched an average of 20 per cent higher salaries this year compared to last year.
With the campus placements of the two-year Post-Graduate Programme in Management, Post-Graduate Programme in Agri Business Management, and the newly introduced one-year Post-Graduate Programme in Public Management and Policy completed successfully, a happy IIM-A director, Samir Barua, said at least his institution was not impacted by the economic crisis.
‘Most preferred institute’
He also said that the IIM-A continued to be the most preferred institute for recruitment not only in terms of the diversity of the organisations that participated in the recruitment process but also by the offers made by them.
Prof. Barua declined to draw any comparison between the IIM-A and other management institutions in the country on the issue of salary and said that he was not aware what “bonus” components, which mark a bulk of the total salary package offered by international and Indian companies, had been incorporated in the total average salary in the placements conducted in the campuses of other IIMs .
He also said it would be wrong to judge the performance of the students and the standard of the institutions solely on the basis of the highest salary offered instead of going by the average salary offered to the entire batch by the different companies.
The highest international salary accepted in this year’s campus recruitment went up to Rs. 1.44 crore per annum as against Rs. 1.20 crore offered last year. Even the average international salary offered this year was about Rs. 47.60 lakh , against Rs. 36 lakh last year.
Domestic salary
The average domestic salary jumped up by about 30 per cent from Rs. 13.7 lakh last year to about 17.85 lakh this year while the highest domestic salary accepted was about Rs. 70 lakh.
The chairperson of the IIM-A PGP placements committee, Piyush Sinha, said that though the financial sector was supposed to have been hit hard by the economic slowdown and many companies had imposed “hiring freeze,” as many as 113 of the 255 students of the 2006-08 batch would be joining the financial sector.
Recruitment
The major banks to recruit the graduates included Goldman Sachs, Lehman Brothers, Morgan Stanley, JP Morgan, Merill Lynch, Deutsche Bank and Barclays .
While about 30 per cent of the students would be joining the consulting sector, about seven per cent would go to general management and over three per cent to operations.
At least 11 students in the current year’s batch have already opted out of the placements to start their own ventures.
Pointing out that 76 per cent of the students accepted offers to work in India and another 11 per cent in the Asia-Pacific region, as against the total of 77 per cent last year, Prof. Barua said for the first time a French student, Diane Gabriel, doing her dual degree programme from both the ESSEC business school and the IIM-A, had preferred to stay back in India and would be joining a local company after completing her degree.
Similarly in the Agri Business Management Programme, the average salary offered increased from Rs. 10 lakh to Rs. 12.30 lakh .
For a batch of 31 students, 30 companies participated in the placements which for the first time also saw consultancy and other peripheral companies vying with agro-based industries to recruit the IIMA PGP-ABM students.
Of the first 33-students batch of the PGP-PMP, mainly coming from the government and other public sector organisations for a one-year stint in public management and policy, nine students would be returning to the parent organisations who had also sponsored their IIM-A studies. The salary offered to the remaining 24 students, having an average 12 years of work experience, ranged from Rs. 15 lakh to Rs. 40 lakh per annum with an average of Rs. 24 lakh per annum. Prof. Barua said the batch size for the PGP-PMP course for the next year would be expanded to 45 students.
Monday, February 18, 2008
IIM-A`s executive batch gets CEO, COO offers
In 2007, the first batch of Post Graduate Programme in Management for Executives (PGPX) at the Indian Institute of Management-Ahmedabad (IIM-A) broke all hiring records at the IIMs with the kind of salary and job profiles they received from recruiters. This year, the second batch is set to fare better.
It is for the first time that students of PGPX, a one-year programme that targets young industry executives with an average work experience of 7 to 9 years, has got such offers. Last year, a PGPX student had broken all records by receiving the highest job offer of over Rs 1 crore.
With two weeks to go before the placement season for the batch concludes, participants have received job profiles in the highest levels of management.
While final negotiations are still going on, it has been learnt that a logistics company from the Middle-East has approached a candidate for the CEO’s position. This PGPX student has an experience of nearly two decades and owned a networking company before coming to the institute.
Participants have also received job profiles like COO, vice-president, general manager, regional director and engagement manager.
Unlike the Post Graduate Programmes (PGP) across the IIMs where most of the students are recruited on the basis of their work during summer placements or during the final placement week when companies come down to the campus, companies wanting to recruit participants from the PGPX batch prefer to fly them to their head offices so that they can interact with the topmost officials of the company.
“Considering the high level of positions offered, companies prefer top authorities to interact with the participants along with human resource officials. Even the participants prefer to go to the offices in order to familiarise themselves with the company’s work ethics,” said a student placement coordinator.
A UK-based consulting company has invited a number of students to its London office.
The first batch of PGPX saw their salaries increase by 79 per cent for overseas offers and 168 per cent for Indian offers over their previous remuneration packages. The present batch has received offers on par with last year.
Key recruiters include McKinsey, Booz Allen Hamilton, Accenture from the consulting domain and conglomerates like Reliance ADAG, RPG, AVB and ITC.
The IT/ITES vertical has seen companies like Microsoft, Google, Infosys China, VSNL, Tech Mahindra and Syntel come to the campus. New recruiters include GE, Tata Steel, Adani, Future Group, Fino, Electrotherm and iNautix.
Also, nearly 10-15 students have shown interest in joining start-up companies. The institute’s placement committee has been in touch with nearly 20 start-ups and SMEs.
Last year, a total of 135 offers were made to 58 participants during the placement process which saw 62 companies participating.
The highest international salary was $250,000 (around Rs 1 crore) while the highest domestic salary offer was Rs 60,00,000 per annum.
It is for the first time that students of PGPX, a one-year programme that targets young industry executives with an average work experience of 7 to 9 years, has got such offers. Last year, a PGPX student had broken all records by receiving the highest job offer of over Rs 1 crore.
With two weeks to go before the placement season for the batch concludes, participants have received job profiles in the highest levels of management.
While final negotiations are still going on, it has been learnt that a logistics company from the Middle-East has approached a candidate for the CEO’s position. This PGPX student has an experience of nearly two decades and owned a networking company before coming to the institute.
Participants have also received job profiles like COO, vice-president, general manager, regional director and engagement manager.
Unlike the Post Graduate Programmes (PGP) across the IIMs where most of the students are recruited on the basis of their work during summer placements or during the final placement week when companies come down to the campus, companies wanting to recruit participants from the PGPX batch prefer to fly them to their head offices so that they can interact with the topmost officials of the company.
“Considering the high level of positions offered, companies prefer top authorities to interact with the participants along with human resource officials. Even the participants prefer to go to the offices in order to familiarise themselves with the company’s work ethics,” said a student placement coordinator.
A UK-based consulting company has invited a number of students to its London office.
The first batch of PGPX saw their salaries increase by 79 per cent for overseas offers and 168 per cent for Indian offers over their previous remuneration packages. The present batch has received offers on par with last year.
Key recruiters include McKinsey, Booz Allen Hamilton, Accenture from the consulting domain and conglomerates like Reliance ADAG, RPG, AVB and ITC.
The IT/ITES vertical has seen companies like Microsoft, Google, Infosys China, VSNL, Tech Mahindra and Syntel come to the campus. New recruiters include GE, Tata Steel, Adani, Future Group, Fino, Electrotherm and iNautix.
Also, nearly 10-15 students have shown interest in joining start-up companies. The institute’s placement committee has been in touch with nearly 20 start-ups and SMEs.
Last year, a total of 135 offers were made to 58 participants during the placement process which saw 62 companies participating.
The highest international salary was $250,000 (around Rs 1 crore) while the highest domestic salary offer was Rs 60,00,000 per annum.
Wednesday, January 9, 2008
IIM-A shortlists 745 for second round
On Tuesday, catiim.in was a hit. As soon as CAT results were made public through the website at around 3 pm, there was a rush of around 2.3 lakh management aspirants across the country logging in for the results.
This resulted in the website crashing, deferring the results several aspirants. But the IIM-A spelled out the overall cut-off for this year’s CAT at 99.3 percentile and above.
The percentile in each section should be 95.6. With this, the IIM-A shortlisted the names of 745 candidates who would now appear for the second round of the test that includes group discussion and interview to be held between February 15 and March 15.
“There are several candidates who scored well in their overall percentile, but had to face setback due to poor performance in individual sections. While the average percentile for verbal section has been relatively low, candidates managed to score good in data interpretation. Quantitative was average, as per expectations,” said director of TIME coaching centre at Ahmedabad, Amit Agarwal.
Compared to the last year’s CAT cut-off at the IIM-A, this year saw a jump, owing to an improved performance by the candidates. “Overall cut-off percentile has seen a jump owing to a good score by candidates, but this is still by and large the same as last year,” said professor Ajay Pandey, faculty of IIM-A in charge of PGPM admission.
Last year, the institute had called 820 candidates for the second round. The institute will have 250 seats in case reservation for OBC candidates is not introduced. Otherwise, the seats will be increased to 280.
Coaching centres across the city were actively tracking admission results and candidates remained thronging cyber cafes and other centres to check their results. While the overall cut-offs were not very bad for many, some candidates spoiled their chances by scoring less than the percentile of the individual section.
This resulted in the website crashing, deferring the results several aspirants. But the IIM-A spelled out the overall cut-off for this year’s CAT at 99.3 percentile and above.
The percentile in each section should be 95.6. With this, the IIM-A shortlisted the names of 745 candidates who would now appear for the second round of the test that includes group discussion and interview to be held between February 15 and March 15.
“There are several candidates who scored well in their overall percentile, but had to face setback due to poor performance in individual sections. While the average percentile for verbal section has been relatively low, candidates managed to score good in data interpretation. Quantitative was average, as per expectations,” said director of TIME coaching centre at Ahmedabad, Amit Agarwal.
Compared to the last year’s CAT cut-off at the IIM-A, this year saw a jump, owing to an improved performance by the candidates. “Overall cut-off percentile has seen a jump owing to a good score by candidates, but this is still by and large the same as last year,” said professor Ajay Pandey, faculty of IIM-A in charge of PGPM admission.
Last year, the institute had called 820 candidates for the second round. The institute will have 250 seats in case reservation for OBC candidates is not introduced. Otherwise, the seats will be increased to 280.
Coaching centres across the city were actively tracking admission results and candidates remained thronging cyber cafes and other centres to check their results. While the overall cut-offs were not very bad for many, some candidates spoiled their chances by scoring less than the percentile of the individual section.
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