SP Jain won't 'lie' about placements

SP Jain won't 'lie' about placements

Mumbai: It is going to do what no other business school in India has done before. The SP Jain Institute of Management and Research, Mumbai, will get its placement data audited by an external agency.
It is a bold move by the management institute made at a time when there have been allegations that many business/management institutes exaggerate placement statistics to lure students.
“The whole issue of whether B-schools give misleading salary figures — what is the actual CTC (cost to company) and what is being projected — has become a major concern. That is why we have decided to get our placement statistics audited and verified by an agency to make things transparent,” an SP Jain source said.
“One should not try to attract aspiring MBAs by projecting exaggerated salary packages. Also, business school fees are becoming quite high. So, it is essential that we give students a correct picture of what is going on. One way of doing it is to get compensation figures validated by a recognised, external organisation,” the source added.
The external agency (the source did not name it) will audit the placement data of students of the two-year, full-time post-graduate diploma in management (PGDM) programme.
Confirming that all 174 of its PGDM students have been placed, the SP Jain placement office said that it will officially release the placement data only after it has been audited and verified by the agency.
“There have been cases of institutes making false claims about placements. Some institutes have quoted exaggerated figures when their students have been placed at low salaries. Good institutes abroad mention their lowest and highest ranges, as well as the middle range. But such is not the case in India,” the source said.
The institute has asked companies offering placements to its students to send in the final offer letters on their letterheads.
“Most students will join work by June. So, it will take some time before we get the final letters from the companies,” the source added.
SP Jain will calculate the figures and hand them over to the agency.
“If there are discrepancies in our figures, we will make the necessary changes. We will be the first institute doing this. Hopefully, others too will be doing the same in future. It will help students make informed choices,” the source said.

Source Link: http://www.dnaindia.com/mumbai/report_sp-jain-won-t-lie-about-placements_1375577