If IIM-Ahmedabad’s draft placement reporting standards are accepted by B-schools, students will have a more transparent placement report.
Recruiters will have to provide details of the compensation offered to students during their placement season, institutes will have to report sector-wise salary details in their placements reports and also adhere to reporting only figures guaranteeing cash payments, etc.
If the draft of the Placement Reporting Standards (PRS) prepared by the Indian Institute of Management, Ahmedabad, (IIM-A) is accepted by B-schools across the country, students seeking admissions to such schools will have a more transparent and reliable placement report to bank on.
The placement committee at IIM-A is all set to present the standards to all the stakeholders in a conference that will be held soon at Ahmedabad. According to Saral Mukherjee, the placement chairperson at IIM-A, they are taking feedback from stakeholders that include candidates, B-schools, including IIMs, recruiters, ranking agencies and prospective students. “It is a voluntary initiative. There is no uniform procedure followed across institutes while reporting their campus placements. We will want more institutes to adopt it, but we cannot make it mandatory. We are awaiting the placements to come to an end at all institutes, so that placement chairmen will be free to visit our campus for the conference,” said Mukherjee. The idea was first announced in a recruiters’ conclave held in Mumbai in October 2010.
The PRS will enable prospective students to make a fair and reliable comparison of different parameters of one B-school with another including compensation. This will help in students making well-informed choices and will also mean they will have more realistic expectations from the placements.
Another aim, stated in the draft, is to avoid MBA employment reports becoming marketing devices to attract students and employers.
The format for the internship offer made to students requires the employers to state the job role, sector of the job, location of the job, position, responsibilities and also the stipend. The internship details will only have non-payment related information. Whereas, the final placement report should have the compensation details along with the details mentioned above. The compensation details should also specify the non-cash benefits, according to the PRS.
PRS lays down detailed guidelines on how institutes should prepare their placement reports. According to the PRS, the nature of the offers should be mentioned with numbers. The reports should have exact number of students getting offers with stipends or without stipends, sector- and function-wise break-up of the offers, location of most offers made to students, classification of graduate pool.
PRS also states that the statistics pertaining to only the heads which constitute guaranteed cash payments should be mentioned in the report. Reports should be out within five days of the end of the placements’ season.
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