Do IPM students get good placements? Will IPM students get equal Packages to MBA students? All IPM aspirants go through this query at some point, and why not? Given the Sky-high fees of the IPM programme, students must make sure that the ROI of the Programme is good enough. Apart from IIM Indore, none of the IPM batches of IIMs have passed out yet, but there is enough data available from IPM placements of IIM Indore to help us with our anxieties.
IIM Indore used to publish separate figures for IPM batch and MBA match in the initial years. Now they don’t post individual figures but one combined figure for IPM and PGP Batch. In the Initial years, the average package of IPM was around 15% less than the average package of their MBA Batch. That’s a huge achievement because MBA is their flagship programme, while the batches passed out in 2016, 2017 and 2018 were just the first three batches. Over time the gap has shrunk considerably.
The same can be expected with all the other IIMs. Initially, there will be a gap between the placement stats of the IPM Batch and MBA batch, but as more batches pass out, the gap will reduce significantly. Once a professor of IIM Indore said that going by the current trend, in the next 5 or 10 years, the average package of IPM Batch can eclipse that of the flagship PGP Batch.
IIM Indore IPM Placements
|Placement Year||Average Salary||Highest Salary|
|2016||INR 11.96 LPA||INR 30 LPA|
|2017||INR 12.52 LPA||INR 37 LPA|
|2018||INR 15.17 LPA||INR 33 LPA|
|2019||INR 17.79 LPA*||INR 40.5 LPA|
|2020||INR 22.92 LPA*||INR 50 LPA|
|2021||INR 23.60 LPA*||INR 41.5 LPA|
*These figures are for the Combined IPM+PGP Batch. Separate stats were not published.
To check out the detailed report for IPM Placements visit the official site of IIM Indore.
Recruiters: The prominent recruiters include HDFC Bank, EY, Deutsche bank, Bain and Company , Deloitte USI, Airtel, ICICI Bank, Amazon, Boston consulting group, PwC India, CRISIL, American Express and others.
Why there is a difference between MBA and IPM placements:
So, if you have noticed, the average package of the MBA batch is slightly more than IPM average package. Now many the students believe that MBA students get better packages just because they cleared CAT, but now there are simple reasons why the MBA package is usually higher than IPM Package:
Work Experience: In the real world, your experience matters more than your degree. As you have noticed, most IIM gives extra weightage in the PGP Programme to students who have work experience. This is because no matter how many degrees you have, having experience working in the corporate environment is a huge advantage. If you are not aware, you can\’t pursue an MBA degree in the USA if you don\’t have work experience.
Now many students who get into the MBA programme have work experience while some also have experience of 5-6 years. They have left the job of 18-20 lakhs, so obviously they will demand and attract a pretty higher package. While on the other hand the entire batch of IPM is freshers. They do undergo an internship, but they are relatively new to the corporate culture, so obviously, they will be given entry-level job offers.
IIT/NIT/BITS: Around 40-50 percent of the batch in many IIMs comprises students from IITs, NITs, and BITS. The reason many people first do engineering and then MBA is that Corporate see such people as a \”complete package.\” The tech industry is rising at an unprecedented rate, and companies assume it\’s better to have a manager who has a technical background. Now, if they can get someone from IIT or NIT, that\’s a cherry on the top.
CA/CS and other professional degree: Not just Work experience, some MBA students also hold professional degrees like CA, CS, ICWA, and others. Having these qualifications boosts your profile Significantly as these are a tough nut to crack.
So basically, the difference in the packages of IPM and MBA students doesn\’t come because of the CAT Qualification or that IPM students are inferior to MBA Students; it\’s just that many of them have a work experience that helps them bag a more lucrative package.
Do IPM Students get good placements?
It\’s not that if you are an IPM student, you will always get a lesser package than MBA. Many IPM Students get a better pay package than MBA students; the Cumulative average package of the entire is a bit less because they don\’t have work experience. Moreover, It\’s hard to argue that the starting salary of IPM students is far better than the MBA student would have received when they just started in their careers.
If you are an IPM student or aspirant, then don\’t worry too much about IPM Placements. IPM has shown to be one of the most sought-after courses, and the passed-out students have also shown tremendous growth in their careers.