Concerned about the placements at the new Indian Institutes of Management (IIMs), the Ministry of Human Resource and Development have asked all the new IIMs to submit details on the number of students placed and salary packages offered during the academic session 2015-17.
Compared to the older IIMs, newer IIMs have been struggling to attract more companies to recruit students. According to sources, Indian Institute of Management, Rohtak did not place 14 students of 2015-17 batch. On the other hand, Indian Institute of Management, Sirmaur did not provide any information regarding the number of students placed.
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However, Indian Institute of Management, Amritsar has been successful in placing all the students of the 2015-17 academic batch. The average salary package at IIM Amritsar, IIM Sirmaur and IIM Rohtak stood at Rs. 11 lakh per annum. Unlike new IIMs, the average salary package at older IIMs stood at Rs. 24 lakh to Rs. 50 lakh per annum.
Now, the Department of Higher Education (management) directed all the new IIMs to submit the details on final placements.
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Sanjeev Srivastava, Under-Secretary of Ministry of Human Resource and Development indicated that the directors of new IIMs have to submit various details that include lowest, average, median and highest salaries for the selected students. The MHRD also asked the institutes to evaluate the reasons for poor placements. Finally, MHRD directed the new IIMs to take steps for ensuring 100% placements from the coming academic session.
Giving a reply to HRD Ministry, Director of Indian Institute of Management, Amritsar wrote that all the 44 students of 2015-17 batch got placed, and the highest salary package was Rs. 17 lakh.