Placement reports, hide more than they show
VARC Mentor | MDI, Gurgaon (2012 – 2014)
Aspirant A – So which college, A or B?
Mentor – See, when you want to choose your college, the points that you need to look out for is the kind of profiles, companies that are coming in. Yes, apart from this stuff, what you also need to look in is the faculty profile, research papers, pedagogy, infrastructure facilities to name a few as the pivotal measures for your choice. After all, you are making a career out of it and not just a job out of your degree.
Aspirant A (In his mind) – Blah - Blah, but the average figure at A is higher than the average figure at B. That should seal my decision. (And then he speaks the obvious)
As he keeps saying that he saw the names of big firms participating in the placement processes, why should he even think of the diverse factors that the mentor listed out to him. And with this conversation, continues the perennial flow of students to business schools which look at the flip side of placements, believe on absolute numbers and then crib on later after they become the part of the B school. And thus as the results of the business schools start flowing in, let’s pool in a few pointers when you see the placement reports of the colleges. There would be some harsh words further, a few expectations being killed but it is always true that prevention is better than cure.
1) Whenever a business school publishes its placement report, you would find a lot of fancy names listed which would keep on luring you. Take them with a pinch of salt, as for an investment bank would have hired an operations guy or a data analyst guy from that college and still list the bank as prominent recruiter. A heart break for the finance guy to land up at his dream company but not his dream profile.
Solution - Make sure you talk to a lot of people from sphere of the business school and try to map the profile rather than the company’s name. ABC might have come to your school, but the package would be different from what it might have offered at a premier institute.
2) So the average says 12.XX something, fair enough. I am not that bad that I won’t even fall in the average category. Yes mom, so that’s minimum what I am going to earn now that my school has this as the avg. figure quoted. Let’s do a little calculation here.
A big firm ends up giving 20 lakhs to 2 guys making it 40 lakhs on campus. Another firm picks 10 students at 8 lakhs each, make the figure at 80 lakhs. Average, if you can see, is (40+80)/10 which comes out to be at 12 lakhs. But then, that’s not the figure you might end up getting. The ambiance at a business school is cruel and thus do make sure that you are cautious enough about this figure. Yes, I have seen people deducting 10-20% from the average figure, but even then you might be surprised when you see people sign out at as low as 5-6 lakhs even from a respected business school.
Solution – Please make sure that you end up asking the median figures and not the average figure. This might not be a complete solution, but even then it would end up giving you an idea of the range of the max number of students who ended up getting placed at that figure.
3) Hey, the company offers 15+. Great, now I am going to get that Play Station. And the time you see your salary slip for the first time, you realize that you would be paying for the govt. road in front of your house (which eventually is broken and shall be eternally) and less for your food (leave alone a PS). Yes, a harsh reality again, but the “in hand “component is something that you should be very cautious of.
Solution – No solutions, you really cannot sit on a “dharna” and make the policy change, but what you can do is to be in control of your expectations after you get a double digit package or you see someone quoting it in your relatives.
4) Do not abuse “TCS, Infosys”etc, for they might just be the saviour for the bulk of your batch. Yes, they do hire in bulk here, (A decent package though (not so high again))even from the top notch business schools and at profiles like BA. Back to the IT world, you don’t really have a choice. it all boils down to be placed to repay that loan than walk out empty handed.
Having said the above points, they have been put upon by interaction with a lot of friends, students who have passed out of the mighty top 10 business schools. Yes, that’s what the reality is, but the post is not to deter the aspirations, but to make sure that you are well prepared about your expectations and not go the herd way of mentality of the bulk who look at absolute figures.
Best of Luck, folks…