For an MBA aspirant, it becomes quite important to get best placements which only rewards then with decent salary but also helps them get a good return on investment that they have made in terms of the education fees. Thus when it comes to shotlisting best college for attaining MBA degree, students often check the placement record of the B-school.
While numerous colleges claim that they provide 100 per cent placement assistance, there are a few which actually emerge successful in placing their 100 per cent batch placed with decent salary packages. This brings us to ponder upon the fact that what sets some institutes apart from the others. Do these institutes apply different strategies for the job placements of their batch?
Here are five strategies which the top B-Schools keep in mind when it comes to achieve the 100 per cent placement benchmark:
1. Selection process coupled with Entrance exam
As the trend goes, B-schools have set parameters which they have put in place to screen the students. Only the creamy layer is able to make it to the top B-schools. At the preliminary step, the aspirants have to clear the entrance exam. CAT, XAT, CMAT, IIFT, MAT and many more national level management entrance exams and their percentile is the first stage of screening.
IIM has set a cut off of no less than 80 percentile, other B-schools such as IIM Bangalore, IIM Calcutta have also kept a percentile of 90 percentile in CAT exam for shortlisting to other rounds.
Thereafter, knowledge of aspirants is put to test in written ability test (WAT) and Personal interview (PI) rounds. Only those aspirants who successfully clear all the stages are then finally given offer letter. This strenuous exercise makes sure that candidates’ with genuine calibre to perform exceedingly well make it to the institute.
2. Bridge the gap between theory and practice
Faculty plays a vital role in bridging the gap between the theory and practise. It is often seen that in the management schools, books have a lesser role to play because the rules of corporate are not entirely based on the bookish knowledge. Therefore, a constant feedback between faculty members becomes an instrumental part in polishing the skills of the aspirants. Faculty makes sound study schedule and plan projects that will help the students understand the practical know-how of the contemporary practises that goes on in the industry. A weekly faculty meet is organised at SPJIMR among the faculty members to discuss new innovations in curriculum and course delivery. Similarly at XLRI, an "Integrated Course" in the General Management Programme was taught with five faculty members together to bring multiple perspectives to the classroom.
3. Valuable In-house Internship Programmes
The top B schools of India understand the need for the aspirants to value society on the whole. They do not prepare the aspirants to earn hefty pay checks. The aim is to imbibe a sense of responsibility towards the society. Keeping this aim in view, numerous institutes have initiated various programmes to boost this value in the teaching methodology.
XLRI has introduced a core course on 'Managerial Ethics'. Alongside the institute commenced an Ethics Research Centre and a Father Arrupe Centre for Excellence to promote human values. At SPJIMR every student has to do a compulsory five-week internship in development programmes and projects in the non-profit sector. This programme is a part of its compulsory Development of Corporate Citizenship (DoCC) course. Not only this, the institute has made it mandatory for the first year MBA students to mentor underprivileged children from the neighbouring schools as a part of the course's Abhyudaya.
4. Systematic process of Placement drive
The basic yardstick on which the performance of an institute can be measure is its placement record. Needless to say that all the top B-schools have an excellent final placement record and alongside they have set records in the summer placements too. This year about 40 per cent of SPJIMRs 2017 batch had a pre-placement offer. In 2017 alone, IIM A has recorded highest placement of Rs. 53 lakhs. A total of 120 companies participated in the IIM A Placements 2017 this year with 40 first time recruiters.
For these institutes, it is not an easy task to get the companies on campus for recruiting students. C. P. Shrimali, Acting Director, MDI Gurugram says "The quality is improved by getting international accreditations, publishing original research papers, using state-of-the-art technology in classrooms and teaching innovations."
Additionally, top B-schools have reviewed and revised their course curriculum to fit the needs of the industry. They equip aspirants with those skills that render them industry ready at the time of selection.
5. International Exposure of Institute
Another very crucial consideration for the top B-schools which makes them stand apart is their global presence. Out of all the IIMs, IIM Calcutta is the only one which has triple accreditations - by Association to Advance Collegiate Schools of Business, Association of MBAs and EQUIS. IIM-C is among the list of those 78 institutes in the world that has entered the Triple Crowned Club. Beyond this, the institute has also tied up with 80 foreign management institutes. In addition, IIM Ahmedabad has partnered with 82 foreign B-schools for student exchange programmes.
These were just the IIMs, but other institutes such as MDI Gurugram, IIFTDelhi, XLRI Jamshedpur are renowned globally and have a strong global presence. They attract not only Indian nationals for state-of-the art management education but have a pull effect on the aspirants globally.
With the aforementioned strategies, it is quite clear that it takes a great amount of effort to make sure that 100 per cent batch is placed by the institute.
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