IIM Placement Process Problems | Dark Reality of IIM Placements

Summary

In this video, the speaker critiques the reality of MBA placements and the effectiveness of top B-school placement agencies. Highlighting how market conditions, increasing batch sizes, and inflated placement reports can affect job outcomes, the speaker emphasizes that relying solely on placements is a flawed strategy. The speaker urges MBA aspirants to focus on skills development, networking, and entrepreneurial opportunities rather than depending on placements. With a critical perspective on the influence of student-run placement committees, the speaker provides valuable advice on creating a fulfilling career outside of traditional placement processes.

Takeaways

• 😀 MBA programs, including top institutions like IIMs, may not be the best placement agencies due to market volatility and increasing batch sizes, which impact the quality of placements.
• 😀 Economic downturns and increased batch sizes at top B-schools reduce the quality and certainty of placements, with some offers even getting revoked.
• 😀 The return on investment (ROI) of an MBA becomes problematic when considering the ever-increasing fees and growing batch sizes, especially for tier 2 and below B-schools.
• 😀 Many B-schools' placement reports are untrustworthy, as they are often not audited, and the data provided is sometimes inflated or presented in a misleading manner.
• 😀 Some of the top B-schools' placement reports lack detail and transparency, which can mislead students about the true quality of placements they can expect.
• 😀 Summer placements play a crucial role in final placements. If a B-school struggles to attract top companies for summer internships, final placements may be negatively impacted.
• 😀 One significant problem with placements in B-schools is the 'one person, one placement' rule, which restricts students from exploring multiple opportunities during the placement process.
• 😀 Favoritism and internal politics among student-run placement committees can harm the placement process, as these batchmates may prioritize friends over fairness.
• 😀 The 'dream job' a student envisions may not be achievable in many cases, especially if the school cannot secure placements in desired sectors like Finance or Consulting.
• 😀 Students should not rely solely on their B-school's placement process. Building connections, working on projects with industry professionals, and freelancing can open up more opportunities.
• 😀 B-school students need to focus on skill development, as relying on the school brand alone can be detrimental. Freelancing or pursuing entrepreneurial ventures can lead to higher earnings and opportunities.

Q & A

Why does the speaker believe B-schools are not good placement agencies?

The speaker argues that B-schools, including top institutions like IIMs, are not effective placement agencies because placements are heavily influenced by external factors like market conditions, economic situations, and increasing batch sizes. This results in a lack of job security and uncertain outcomes for students, despite high fees and brand value.

What does the speaker think about the role of the Placecom in placement processes?

The speaker points out that the Placecom, made up of student representatives, can become a source of favoritism, politics, and even personal bias. As a result, the process can be unfair, with some students receiving preferential treatment over others.

How does the speaker suggest evaluating a B-school's placement report?

The speaker recommends checking whether a B-school's placement report is audited and detailed. They praise IIM Ahmedabad for its transparent, audited, and thorough reports, while criticizing other schools for offering inflated or unverified figures that are more like marketing brochures than actual placement data.

Why are large batch sizes a problem in B-school placements?

Large batch sizes exacerbate the competition for placements, making it more difficult for individual students to secure desirable roles. This, combined with a poor economic situation, negatively impacts the quality of placements across the board.

What role does the economic situation play in MBA placements?

The economic situation significantly impacts MBA placements, even in top B-schools. Economic downturns can lead to job offers being delayed or revoked, further affecting the job security and career prospects of MBA graduates.

How does the speaker suggest MBA aspirants should prepare for placements?

The speaker recommends that MBA aspirants stop relying solely on B-school placements and start building connections with industry professionals. They suggest working on free projects with senior individuals, gaining experience, and expanding networks, as this can lead to better job opportunities.

What does the speaker mean by '100% placements' becoming a mere checkbox?

The speaker explains that many B-schools focus more on achieving the statistic of '100% placements' rather than ensuring the quality of the roles offered. This leads to situations where students may be placed in jobs that don't align with their aspirations, or are underpaid positions that do not meet their expectations.

How does the speaker view the importance of summer placements?

The speaker stresses the importance of summer placements as an indicator of a B-school's placement strength. If a B-school struggles to attract good companies for summer internships, it reflects poorly on the overall placement process, and students may have fewer options in the final placements.

Why does the speaker warn against depending too much on the brand of a B-school?

The speaker cautions that relying too heavily on a B-school's brand name can lead to complacency. MBA students should not neglect skill development or the pursuit of opportunities outside of placements. Constantly working on improving skills and staying proactive in job search efforts can lead to better outcomes.

What does the speaker believe is the ideal mindset for an MBA student?

The speaker suggests that MBA students should be proactive and not rely on the B-school to define their career. They recommend pursuing entrepreneurial aspirations and freelancing opportunities, as well as continuously developing skills. An entrepreneurial mindset is especially encouraged, as it allows students to create their own opportunities.