The Indian Institutes of Management (IIM) are institutes of management education and exploration in India. IIMs provides postgraduate, doctoral, and executive education programs. The union of IIMs was introduced by Jawaharlal Nehru, the first Prime Minister of India, founded on the recommendation of the Planning Commission.
IIMs are known as institutions of national importance after the quotation of the Indian Institutes of Management Act, 2017. With this act in place, IIMs leveraged up extensively to give rise to their independent decisions in their day-to-day operations. The act changed the governing body from the IIM council to the IIM coordination forum. IIMs were assented extensively latitude to agree on their lessons, fees, and other similar matters.
The two-year Post-Graduate Programme in Management (PGP), requesting the Post Graduate Diploma in Management (PGDM), is the flagship program across all IIMs. These post-graduate diploma policies are considered the counterpart of regular MBA programs. However, since the passage of the IIM Act, most IIMs have also begun to provide a Master in Business Administration (MBA). Some IIMs moreover, provide a one-year post-graduate diploma program for graduates with more work experience. Some IIMs provide the Fellow Programme in Management (FPM), a doctoral program. The association is considered to be similar to a Ph.D. globally. Most IIMs provide short-term executive education/EMBA courses and part-time programs. Some IIMs also provides unique programs, like IIM Rohtak and IIM Indore‘s Five Year Integrated Programme in Management and IIM Lucknow‘s Working Managers’ Programme of three years.
The Board governs Leadership Training Programmes for principals which focus on the various functions and duties, give space to evaluate issues that most principals face today, and stimulate evolving a tactical disclosure for sufficiently forthcoming adaptability of schools,
Take IIM Bangalore, for illustration. The executive education numbers have been going up at the B-school. In 2017-18, it had around 5,100 participants while in 2018-19, the number went up to a little above 6,000 — a 17 percent increase. “Executive schooling is a crucial and strategic contribution to It encourages us to give rise to a substantial effect on exercise; it facilitates our staff to be in touch with the investment, and it furnishes us a much-required abundance to fund research, which is a largely cost-driven activity.”
IIMC too has been witnessing a 15-20 percent rise in participation in its executive education programs. The association provides such programs for both a short-term period (MDP), ranging from three to seven days, and for longer-term courses (LDP), from six months to a year.
According to Prof Anirvan Pant, Chairperson, Long interval Programmes, IIMC, executive education programs have not only been a revenue churner for the institute but are similarly an important way of extending IIMC’s impact on management education in the country. “We teach some of the best managers in the country but we also expect to make an impact in terms of the broader managerial cadre out there and, for that, executive education is critical.”
IIMs has always had a heritage of making sure about cosmic situations, both as distant as the pay and the broad mixture of profiles on offer.
The companies coming for placements include the regular suspects and several new organizations as adequately. From global financial giants, like Goldman Sachs and JPMorgan, to discussing firms such as McKinsey & Co. New recruiters this year included Blackstone Group and Strategy& (formerly known as Booz & Co.) Avendus made the highest number of invitations, pursued by JPMorgan, the institute said in a release.
While holding its attention for being the promoting grounds of the nation, the current year’s position season saw sound support across areas, guaranteeing that understudies had a lot of choices to look over to seek after professions in the field of their inclination.
The desire of SAP, which will also organize a chair, to foster the spirit of entrepreneurship is in line with IIM-A’s long-term goals, and we are pleased to partner with them
The tribute of the three companies will improve the institute to improve its impact and retain quality. As we resume to connect with practice, I am optimistic the institute will support from access to recent supervision practices and challenges, and also a donation for high-quality research.
IIMS likewise has a solid summer entry-level position and live undertakings program where understudies profit by, preplacement proposals, live tasks, industry presentation, and intrigue management.
IIM-A this year in the initial cluster encompassed Accenture Strategy, Kearney, Avendus, Bain & Co., Citi, Credit Suisse, Goldman Sachs, HSBC, JP Morgan, KPMG, McKinsey & Company, Monitor Deloitte, Matrix Partners, Multiples, Nomura, Oliver Wyman, & The Boston Consulting Group with others.
Apart from these, several new recruiters including Blackstone Group and Strategy & (Middle East) also participated this year.
Last year, the first cluster of final placements at IIM Ahmedabad had seen Accenture Strategy lead recruiters with the highest number of offers at 24 including PPOs, followed by BCG with 20 offers.
The final placement process will continue for another two clusters at IIM Ahmedabad, after which the institute may follow a rolling process if necessary. While initial details of the process have been made available by IIM Ahmedabad, the premier B-school will release a detailed audited report later, as part of its Indian Placement Reporting Standards (IPRS)
In 2011, there were 260 trained placements with a median income of Rs 15.15 lakh per annum. 2019 saw 375 trained placements with a central salary of Rs 24 lakhs. After modifying for inflation between 2011 and 2019, the earnings have still surged by nearly 50% in this period. In improvement, the gap between the minimum and maximum incomes has improved broadly in this period, from a disparity of Rs 29 lakh in 2011 to Rs 55 lakhs in 2019
In terms of worldwide recruitment, the number has plummeted from a peak of 40 in 2012 to just 13 in 2019. Data for IIM-A shows that discussing firms have affected recruitment over the past five years. In 2019, for specimens, nearly 35% of the placements were from the supervision consulting domain. This is in stark difference to 2011, where commerce and sales were the most prominent purpose, accounting for almost 38% of recruitment.
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