25 B-Schools releases placement data audited by CRISIL

There are many institutes which do not want to disclose their placement reports because of poor placement offers and many manipulate their statistics to attract more students. SP Jain Institute of Management and Research (SPJIMR), Mumbai, has become the second institute of the country to publish placement data after IIM-A. The placement data was audited by CRISIL under the ‘Indian Placement Reporting Standards’ (IPRS), an initiative started by IIM-Ahmedabad.

Presently, there 25 B-schools which are willing to accept the IPRS, which is meant to “bring in uniformity in the manner in which Indian B-schools report salary and non-salary information related to placements”.

A senior academician, said, “Such reports have become a necessity in times when it is alleged that many business/management institutes give misleading figures. In such scenarios, what is the actual cost to company or CTC and what is being projected by institutes, becomes a matter of concern. Also, business school fees are high, so it makes sense to give students the actual picture and not keep placement figures under wraps.”

SPJIMR followed the footprints of IIM-A, and become the second management institute in the nation to release two audited reports of placements. It released the report of final placements for two years, full-time postgraduate diploma in management (PDGM), and one-year postgraduate programme in management (PGPM). The report gives detailed information of sector-wise, functional-wise and location-wise classification of domestic and international placement.

Prof Abbasali Gabula, deputy director of external relations and administration at SPJIMR, said, “It gives complete transparency to the placement process and helps students and companies make an informed decision. This is an international practice and we hope that more institutes come forward and adopt this practice. It puts everything in black and white and leaves no scope for any ambiguity.”

The report also includes detailed statistics of minimum salary, average salary and maximum domestic and international salary. It also gives information about each sector and list of recruiters participated in the placement season. The audit gives information about detailed salary break-up.

Akash Deep Jyoti, head of CRISIL Ratings, said, “Following IPRS represents an important transition within the Indian management education sector. It changes the evaluation metrics of management education from the excessively focused ‘highest salary paid’ to a more realistic understanding based on comprehensive compensation data covering a large proportion of the batch.”