Now that placements at most leading business schools have concluded, data from the placement reports has revealed exactly how much the pandemic has affected recruitment. Institutes that, in 2020, showed double-digit growth in salaries offered showed only marginal increases in 2021. Many leading management institutes like IIM Kozhikode and SPJIMR have even seen a decline in the average salaries offered to the batch. IIM Bangalore saw a decrease of seven percent in the number of offers, while FMS saw only a marginal reduction in the number of offers extended. Now, the second generation "new" IIMs have also published their placement reports to reveal what impact the ongoing pandemic has had on MBA placements.
Five Key Highlights From Placements At New IIMs In 2021
- None of the six second generation IIMs saw a reduction in median salaries offered, as compared to the previous year. IIM Kashipur has recorded a (relatively) big jump in median salary offered at 6%.
- IIMs Ranchi and Raipur saw a reduction in the average salary offered to the MBA batch despite significant increases in the highest domestic salaries offered. Both IIM Kashipur and IIM Udaipur recorded only a marginal increase in the average salary offered.
- IIM Ranchi saw a massive 19% increase in the highest salary offered to the MBA batch, while IIM Kashipur saw a massive drop in the highest salary offered.
- Sales & Marketing along with Consulting & Strategy roles were amongst the most sought-after domains for the MBA batch of 2021 at the new IIMs.
- Despite the pandemic and a tough job market, IIM Kashipur saw a tremendous 32% jump in the number of participating recruiters.
Median Salaries Increase Or Remain Unchanged At New IIMs Despite Pandemic
The second generation IIMs appear to have managed to weather the adverse effects of the pandemic on the Indian job market. The recently released placement reports for IIMs Ranchi, Raipur, Trichy, Rohtak, Kashipur and Udaipur suggest that the median salaries offered to the MBA batch remains unchanged or has seen a small increase as compared to placements in the previous year. Some IIMs have reported a small decline in the average salaries offered, though this dip is only marginal. Surprisingly, these same IIMs have shown a significant jump in the highest domestic compensation offered to the batch, which would effectively increase the overall average of salaries offered.
Amongst all the second generation IIMs, only IIM Udaipur has shown an increase in all three - highest, average and median - salaries offered to the MBA batch of 2021. It must be noted that as per IIM Udaipur's official placement report, 8 of the 270 participating students remained unplaced, and as per IIM Udaipur "efforts are underway to place the remaining students."
Sales & Marketing, Consulting Most Sought-After In 2021 For MBA Students At New IIMs
In 2021, Sales & Marketing has emerged as one of the most sought-after domains for students at most of the new IIMs, with a massive 39% of the MBA batch at IIM Rohtak, 34% of the batch at IIM Raipur, 30% of the batch at IIM Kashipur, and 21% of the batch at IIM Trichy opting for these roles.
Please note that the categorization of domains may be different for institutes. For instance at IIM Raipur, placement statistics have been combined for Operations & IT domain but are separate in the case of IIM Ranchi. The rankings of the most sought-after domains have been generated accordingly.
The individual placement reports for the second and third generation IIMs will be published soon and will be available here.