Shruti
Shruti Garg
Assistant Manager- Editorial
Updated on May 9, 2024 16:18 IST

Check out the lowest salaries offered at IIMs and other top B-schools during the final placement process.

In India, an MBA degree is often equated with great pay and fast career growth. Students aim for management degrees primarily with these two objectives in mind.

Every year, the top and average salaries offered at leading business schools are reaching new heights. Placement reports from the top MBA colleges boast of rising salaries (highest, mean and median), top companies, popular job profiles.

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However, most placement reports released by B-Schools do not give an overall perspective of salaries offered to MBA graduates. No one talks about the lowest packages offered or how many students were not offered satisfatory positions. Placement reports are like popular Bollywood flicks with happy endings, with no bad memories in sight.

Q:   Which courses are offered by IIMs through CAT?

A:

CAT is the common entrance test for a range of post management courses offered by the Indian Institute of Management. The CAT score is accepted for admission to PGP, MBA, Executive MBA, Ph.D. and FPM courses.

Here is the list of courses offered by every IIM.

  • IIM Ahmedabad: PGP, PGP-FABM, ePGD-ABA (post Graduate Diploma in Advanced Business Analytics), PhD
  • IIM Amritsar: MBA, MBA-Business Analytics, MBA-HRM, EMBA, PhD
  • IIM Bangalore: PGP, PGPEM, PGPBA, PhD
  • IIM Bodh Gaya: PGP, Ph.D. (FPM)
  • IIM Calcutta: MBA, PhD
  • IIM Indore: PGP, PGP-HRM, MSDSM (Master of Science in Data Science and Management), FPM
  • IIM Jammu: MBA, MBA (Hospital Administration & Healthcare Management, Executive MBA (Blended Mode), Ph.D. (Full-Time Mode), Ph.D. (Part-Time Mode)
  • IIM Kashipur: MBA, MBA (Analytics), EMBA, EMBAA (Executive Master of Business Administration Analytics), PhD
  • IIM Kozhikode: PGP, PGP-BL, PGP-F, PGP-LSM, EPGP Kochi, PhD
  • IIM Lucknow: PGP, PGP-ABM, PGP-some, PGPWE, PhD
  • IIM Nagpur: MBA, MBA (Executive), Ph.D. (Executive)
  • IIM Raipur: PGP, FPM/PhD, EFPM
  • IIM Ranchi: PGP, PGP-HRM, PGP (Business Analytics), Ph.D. EPhD
  • IIM Rohtak: PGP, EPGDSM, PhD
  • IIM Sambalpur: MBA, Executive MBA, Ph.D. Executive PhD
  • IIM Shillong: PGP, PGPEX, MBA (WE), Ph.D. PhDWP
  • IIM Sirmaur: MBA, MBA (T&HM), ExMBA (Digital Transformation & Analytics), PhD
  • IIM Tiruchirappalli: PGPM & PGPM-HR, DPM, E-DPM
  • IIM Udaipur: MBA, MBA-DEM, MBA-GSCM, PGDBAWE, PhD
  • IIM Visakhapatnam: PGP, PGPEx, PGPDGM, Ph.D.

Q:   Does IIM Udaipur offer 100% placements?

A:

Yes, IIM Udaipur has a strong track record of placements for its MBA/PGDM courses. During IIM Udaipur placements 2024, the highest and average package (earning potential) offered to the MBA batch 2024 stood at INR 47 LPA and INR 18.8 LPA, respectively. The key highlights of IIM Udaipur placements for the Class of 2024 are presented below:

Particulars

Placement Statistics (2024)

Highest package

MBA: INR 47 LPA

MBA - GSCM: INR 39.37 LPA

MBA - DEM: INR  35.44 LPA

Average package

MBA: INR 18.8 LPA

MBA - GSCM: INR 22.37 LPA

MBA - DEM: INR 21.67 LPA

Median package

MBA - GSCM: INR 20 LPA

MBA - DEM: INR 20 LPA

No. of offers accepted

MBA: 291

MBA - GSCM: 49

MBA - DEM: 52

Companies visited

MBA: 108

MBA - GSCM: 23

MBA - DEM: 24

NOTE: The audited placement report for batch 2022-24 is yet to be released. It will updated here as and when released.

Now, take a look at the key highlights of the IIM Udaipur placements for the Class of 2023 in the table below:

Particulars

Placement Statistics (2023)

Highest package

MBA: INR 35.04 LPA

MBA - GSCM: INR 41.38 LPA

MBA - DEM: INR 34.07 LPA

Average package

MBA: INR 20.02 LPA

MBA - GSCM: INR 20.63 LPA

MBA - DEM: INR 21.47 LPA

Median package

MBA: INR 18.53 LPA

MBA - GSCM: INR 19 LPA

MBA - DEM: INR 21 LPA

Placement rate

100%

No. of offers accepted

MBA: 301

MBA - GSCM: 44

MBA - DEM: 46

Companies visited

MBA: 77

MBA - GSCM: 19

MBA - DEM: 21

Q:   What is the stipend for FPM at XLRI?

A:

For XLRI FPM students, a monthly stipend of INR 45,000 will be awarded for the first two years and INR 50,000 for the next two years. Fellowship will be paid only to full-time residential students, and for a period of four years. Extension of financial aid for the fifth year is possible depending on the candidates' academic performance. 

  Will you get a call from the IIMs ? Check eligibility and cut-off for each of the 20 IIMs Predict Now  

 

So, while the media reports about the highest packages offered in glorious words, little is said about the other side of the story – the lowest salary offered.

In an effort to bring transparency and uniformity in the way placement statistics are reported, IIM Ahmedabad started the ‘Indian Placement Reporting Standards’ (IPRS) in 2011. Under IPRS, colleges have a standardised way of reporting salary and non-salary information (related to placements). Data submitted undergoes a third party audit process (by CRISIL), making the placement reports reliable.

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The objective behind IPRS is to provide wholesome, standardised and trustworthy data that’ll enable aspiring candidates to make informed choices.

As per the official IPRS website, 30 MBA colleges have signed up for it (abiding by it). We decided to take a look at the reports. However, we could find detailed placement reports of just eight colleges. Out of these eight colleges, only three colleges have been regularly submitted the reports.

We also found some CRISIL (Credit Rating Information Services of India Limited) audited placement reports online. We collated the latest data shared by IPRS on its website to find out the lowest audited salaries. Here are the details:

Q:   Can I get a job after completing FPM from IIM Lucknow?

A:

Yes, there are multiple job options available for candidates after completing the FPM programme. The common ones are lecturership and research work. Apart from this, candidates can also apply for private jobs at senior managerial level. Some of the popular job profiles for FPM pass outs are Relationship Manager, Project Manager, Management Executive, etc. In addition, the list of top recruiters include HCL, HDFC Bank, Britannia Industries, etc. Read more about FPM course and career scope, here.

Q:   Is IIM Calcutta good in terms of placements?

A:

IIM Calcutta has a great track record of MBA placements. Recently, IIM Calcutta concludes the placements for its 59th MBA batch with a 100% placement rate. The highest package offered during IIM Calcutta placements 2024 stood at INR 1.20 crore per annum. The key highlights of IIM Calcutta placements for the MBA Class of 2022, 2023 and 2024 are presented in the table below:

Particulars

MBA Placement Statistics (2022)

MBA Placement Statistics (2023)

MBA Placement Statistics (2024)

Highest package

NA

INR 94.82 LPA (International)

INR 1.15 crore per annum (Domestic)

INR 1.2 crore per annum 

Average package

INR 34.20 LPA

INR 35.07 LPA

NA

Median package

INR 31.00 LPA

INR 33.67 LPA

NA

Offers made

631

573

529

Companies visited

190+

190

194

Placement rate

100%

100%

100%

Batch size

465

465

464

Lowest Salaries Offered

Institute

Year

Lowest salary package (maximum earning potential)

IIM Ahmedabad

2021

INR 11 lakh per annum

IIM Udaipur

2015

INR 7 lakh per annum

IIM Rohtak

2016

INR 6 lakh per annum

SPJIMR, Mumbai

2021

INR 15 lakh per annum

TAPMI, Manipal

2013

INR 6 lakh per annum

KIAMS, Pune

2015

INR 2.6 lakh per annum

Xavier Institute of Management, Bhubaneswar

2013

INR 2.4 lakh per annum

SCMHRD, Pune

2013

INR 6.11 lakh per annum

 

(Source: IPRS & CRISIL)

Who Receives Low Packages?

According to sources, students whose academic performance has been low in all the semesters or are repeating a year are the once who usually receive low packages. Recruiters not only look at the candidate's academic record but also his/her record in extra-curricular activities, events etc.

Speaking to Shiksha on condition of anonymity, an IIM graduate said, “It’s the typical scenario. If you can’t perform well in academics and extra-curricular, recruiters have no reason to hire you. Also, many institutes have large batches. It gets especially difficult for them to place students from the lower end of the spectrum. At times, more than 10% of the batch are yet to be placed by the term-end. They either opt of out placements or go for rolling placements. Some institutes even force such students to sign out of placements in an effort to maintain placement standards.”

Accountability

It is interesting to note that most leading B-schools of the country do not publish audited reports of their final placement process for the benefit of aspiring students and common citizens. They only release the final placement reports to the media with quotes of highest, mean and median salary figures. The public accept these placement reports at their face value. There’s no accountability of the information published.

In other words, it’s practically impossible to find the official lowest packages offered at top business schools or get a complete scenario of placements.

Other B-Schools

Since getting information from official sources is practically impossible, we decided to speak to participants of various B-Schools and know the lowest salaries offered.

Below, we have complied a list of lowest packages of some top MBA colleges based on student's feedback.

PLEASE NOTE: The figures quoted below are not based on any audited reports and neither have they been conveyed by the institute/college. These are based on student accounts and cannot be verified independently.

Institute

Year

Lowest salary package (maximum earning potential)

IIM Sirmaur

2022

INR 8.40 lakh per annum

IIM Indore

2014

INR 7 lakh per annum

IIM Bangalore

2014

INR 8-10 lakh per annum

IIM Calcutta

2013

INR 8-10 lakh per annum

IIM Lucknow

2013

INR 6-8 lakh per annum

IIM Kozhikode

2013

INR 6-8 lakh per annum

IIM Tiruchirapalli

2016

INR 8 lakh per annum

IIFT, Delhi

2015

INR 9 lakh per annum

XLRI, Jameshedpur

2014

INR 10-11 lakh per annum

Read More

IIM Ahmedabad Placements

IIM Trichy Placements

IIM Kozhikode Placements

IIM Bangalore Placements

IIM Calcutta Placements

IIM Lucknow Placements

IIM Bodhgaya Placements

IIM Raipur Placements

IIM Shillong Placements

IIM Udaipur Placements

IIM Nagpur Placements

IIM Indore Placements

IIM Amritsar Placements

IIM Rohtak Placements

IIM Visakhapatnam Placements

IIM Sirmaur Placements

IIM Jammu Placements

IIM Sambalpur Placements

IIM Ranchi Placements

IIM Kashipur Placements

 

 

About the Author
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Shruti Garg
Assistant Manager- Editorial

Shruti is a graduate in Education and Literature. She is a passionate writer. As her name suggests she is a good listener, a binge-watcher, and a great foodie. She loves playing badminton and doing meditation in her... Read Full Bio

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