The 6 IIMs Alumni Report – Banking & Finance – Part 3

There is always a big number of aspirants who say they want to become an ‘i-banker’ without even understanding what it entails. In order to paint a pretty picture about their own business schools, there is always a race among the placement committees of hordes of business schools in India to get every possible job available in an i-bank. It is based on this basic insight that when someone reads the brown coloured newspaper pages no one understands the difference between a front-end job and a technology job and a middle office excel number crunching job.

Our 3rd part covers, Banking & Finance – Multinational/Foreign Banks and Financial Institutions  and Indian Banks and Financial Institutions.

Points to note before you look at the data below:

1) This data has no Time filter unlike Part 1. It shows number of professionals on LinkedIn currently working at the below mentioned companies.

2)We got a lot of queries around the IT roles data depicting a skewed picture and hence wherever significant, we have filtered out IT related and HR/admin roles as much as possible. In spite of this, there will still be some amount of IT related roles hidden in the Foreign Banks and FI data below. But the numbers are good to make a trend. Beyond this, no domain/function filtering has been done. For Indian Banks and Financial Institutions no filtering was done as the numbers were too insignificant to distort a trend.

3)Please remember the data below is based on user generated data. Hence, it cannot be 100% accurate

4)It includes professionals who may have attended other programmes at these institutions. Not everyone in the sample has attended the 2 yr flagship PGP programme. For e.g. it may even include someone who has done a 3 day certificate programme at any IIM.

5)It includes current PGP students who are undergoing summer internships and have updated their profile with the name of the organization they are interning in.

6) Before running down an institution, please be aware of the context. 13 batches of IIM Indore, 14 batches of IIM Kozhikode, over 25 of IIM Lucknow, over 35 of IIM Bangalore and over 45 of IIM Ahmedabad and IIM Calcutta have graduated since Independence. Also note that most of the LinkedIn users we found in our sample are alumni who have graduated between 1990-2012.

7)And finally, please note that the list below is NOT EXHAUSTIVE. Not everyone is on LinkedIn. This report just serves as a trend spotter at best. Team InsideIIM is not responsible for any career decisions taken solely on the basis of this report.


The Gap is much narrower between the 6 IIMs when we look at Indian Banks and Financial Institutions. You are more likely to get a role based on merit than because you are from a particular business school. While it is not guaranteed but students from IIM LIK,FMS,XLRI,SPJIMR,JBIMS etc. are less likely to be discriminated against in an Indian Bank or Financial Institution.

Please bear in mind that above data does not distinguish between front-end, middle office and support roles. It simply looks at the number of alumni working in a company from a particular institution. Not very tough to see  the alumni effect here either.

Please note that having an alum in a particular organisation does not mean the company visits the campus of that Institution  for fresh recruitment. There is always a lot of movement because of job hopping. A lot of IIM LIK alumni have moved to good positions laterally.

You may also like to read :

The 6 IIMs Alumni Report – Consulting & FMCG – Part 2

The 6 IIMs Alumni Report – Locations & Companies – Part 1

The Most definitive Student Exchange Programme Report – 2011 (One of its kind report for top business schools in India)


New ! – Industry Series : Interview with Rishiraj Singh Pruthi – Head, Customer Marketing at Abbot Nutrition


Read our Final Placement Reports for the Class of 2012 :

Final Placements :IIM Lucknow – Class of 2012

Final Placements: IIM Bangalore – Class of 2012

Final Placements :XLRI Jamshedpur – Class of 2012

Final Placements :IIM Kozhikode – Class of 2012

Final Placements :IIM Calcutta – Class of 2012


You may also like to read:

Final Placements – Class of 2012 : The big test for the IIMs

Summer Placements 2011-13 – JBIMS Mumbai

Summer Placements 2011-13 – IIM Bangalore

Summer Placements 2011-13 – IIM Calcutta

Summer Placements 2011-13 – IIM Lucknow

Summer Placements 2011-13 – IIM Indore

Summer Placements 2011-13 – IIM Kozhikode

Summer Placements 2011-13 – XLRI Jamshedpur

Summer Placements 2011-13 – FMS Delhi


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IIMC student

B lags behind A and C as it is newer. Rest of the observations are along expected lines. Can you do a similar analysis on the number of CEOs or VPs from IIMs?

IIMC student

B seems to lag behind C and A in finance then (historically) …. From the placement reports, placements at ABC sound very similar

Amitabh Chaudhuri

Bangalore gives least performance to CAT percentile, whereas A & C gives due importance to CAT exam's percentile. Particularly IIM-Calcutta gives adequate weightage to CAT percentile and you will find that many 99 percentile and above are mostly at IIM-C. But Bangalore gives importance to their own selection process, therefore, there are many students who qualify with low (97) percentile.

Amitabh Chaudhuri

IIM-A gives some points for CAT percentile, some for Board Exam and Graduation (or) B.Tech exam marks, some marks for job experience etc. etc. After this exercise is done and the students who are found have scored total 21 points and above are only called for group discussion and interview. It does not matter, whether that student scored 99.9 percentile in CAT.
IIM-B does not give much importance to CAT marks. It seems they don't believe in what the general public knows, i.e., . . . . . .CAT . . . . the key to IIMs ! Since few years, while doing campus recruit, I have found that large number of IIM-C students are qualitatively much better, particularly in finance. Unfortunately, infrastructure at IIM-C was not addressed for long time. Approach road to Joka campus is very bad. West Bengal Govt. did not pay much attention to one of the top and oldest IIM.

Amitabh Chaudhuri

Now, most of the brilliant students who scores top percentile in CAT exams with job experience has higher probability of entering IIM-C, subject to their qualifying in the tough group discussion & interview. For cut-off for GD and interview, IIM-C still gives adequate importance on CAT percentile.


Lots of back end and middle office roles are there in the list obviously(as already mentioned in the report). The banks where hardly any back end/corporate banking etc would have been counted are Morgan Stanley, Credit Suisse, JP Morgan, UBS, Nomura and RBS. Goldman too to an extent.

Team InsideIIM

There are a lot of Middle Office roles at Goldman Sachs ,Credit Suisse, J.P.Morgan. IIM LIK at Goldman is almost entirely middle office. Very few front end guys in J.P.Morgan from LIK too.


I was mentioning the names for ABC. On campus, these banks almost never offer back office or middle office. But ya, lateral movement is a possibility.


As always is this case, despite the huge rift between L and IK, they are being clubbed together because the team at inside IIM is biased.


Don't blame InsideIIM – everyone does that. Lots of reasons for that – one big reason is that C, A (these two especially) and B are much older than other IIMs. Another equally important but silly reason: ABC has a nice ring to it. 🙂 If IIM Lucknow was situated at Delhi or Dehradun or Durgapur, it could have easily got into people's minds as among "ABCD". 🙂 But ABCL doesn't have a nice feel to it – ABC and LIK seperately sound better. This is also the reason why B's status rose so much inspite of being much younger than C and A: Because B comes between A and C in the English alphabet, people just think that "ABC" is an ordered group. Many people also automatically think that IIMA is better than IIMB which is in turn better than IIMC, just because their names are "A", "B" and "C". 🙂 I have some aunts and uncles who used to think these names were given on the order of their importance or whatever.

So, the best way for IIM-L to be counted among the best – change it's name to IIM-D. Within a few years, people will start thinking that it's as good as "ABC", but that it's slightly worse than those 3 since it's name is only D. 😛

Neutral Junta

Mithun, you are funny man.However leaving the satire part I don't think you had any substance to say.

Sushrut, I think its mostly being conveyed that its ABC and the rest and this is no way means that LIK are same. Every aspirant knows his/her preferences when he gets his/her call from LIK and I don't need to reiterate it here. Its also true that there is a bit difference within ABC with AC being older colleges but B's strong growth is attributed to its location in Bangalore and not because "B" comes between AC. L is a good college too and as insideiim has always mentioned is getting very close to ABC.


@InsideIIM Can you also provide an analysis of how the batch size has evolved from 1990 / 1996 (in the case of newer IIMs) ?


Don't underestimate the power of symbolism and branding. The post above has a good point: "ABC" does have a nice ring to it which makes it difficult for IIM Lucknow to be counted among the group. IIM Bangalore also definitely would have benefited from its name!


ABC does have a good ring to it… Apart from this, rankings (Usually A is followed by B followed by C) too play a significant role in recalling these schools as ABC and not with any other combination….


@Mithun-LOL!!…You have brought out a very valid proposition in a very satiric way…liked ur post

IIM Indore stud

Respected IndsideIIM team,
A month ago I was ecstatic on converting IIM Indore. But after reading a string of articles of late I can see that the rift between ABC and Indore is tremendous. No bulge bracket I-banks/ top consult firms.
I know of the concept of "second-MBA" aborad,
Do you see this trend starting in India also? Will it be worthwhile for an IIM I pass-out to target a second MBA from ABC after building a profile of 5-7 years?
Only thing is that I don't want to leave IIM I seat right now given the online CAT.

On a side note, could you please perform a survey on how fair the present CAT is, by showing a correlation between 98%ers in CAT and other exams XAT/IIFT/NMAT/SNAP ?

Team InsideIIM

Your best bet is to write CAT again while you are at IIM Indore and hope to make it for Class of 2013-15. It is unlikely either IIM ABC will accept you after 5-7 years of experience for the PGP programme. May be the Exec PGP Programme is what you could look at. Don't think it will add so much value.

There are enough examples of alums of all 6 IIMs doing their 2nd MBA in the US. Check out for that.

The survey on the above correlation is difficult unless we can ensure enough data and the accuracy of the same. User generated data of this kind is generally faulty.