How will IIM Placements and Average Packages Look for MBA Graduates in 2024?

IIM Placements 2024: The Indian Institute of Management (IIM) MBA/PGDM placement and package report is eagerly awaited every year. IIM placement news in 2024 has been mixed, but should applicants worry?

The details of the Indian Institute of Management (IIM) final placements and average packages are eagerly awaited among MBA/PGDM applicants, graduates and industry watchers when they are published between April to August every year.

The IIM placement report reveals which roles graduates from India’s highly reputed government B-schools have secured, what work they will be doing and what level of salary they have managed to get.

However, this year reports are circulating about placement challenges and postgraduate salary cuts. CareerMantra.Org checks the situation.

Analysis of IIM Placements in 2024:

IIM placements and average package reports are usually published between January and July every year. Currently, eight of the top 10 B-schools in the NIRF (2023) rankings have released their reports or detailed information about the work placements of their graduates.

Looking at the information published online and through social media, there are some indications that the global slowdown in key sectors such as consulting, tech and IT has impacted the final placement process of 2024.

Even IIM Ahmedabad, the number one B-school in the NIRF rankings, has admitted that the job market is “challenging”, revealing that it has seen some tightening in placements, especially in management consulting roles.

However, reporting on the college’s inaugural placement season in February, Professor Ankur Sinha, former chairman of the placement committee at IIM Ahmedabad, was positive: “This year’s placements reflect that the demand for top-tier talent continues to rise regardless of the economic environment. Management consulting offers declined, but niche consulting offers increased significantly. We also saw an increase in hiring by conglomerate and domestic firms.”

In 2024, the most prominent recruiters at IIM-A were Accenture, which made 26 offers, and Boston Consulting Group, which made 23 offers. In contrast, McKinsey was the leading recruiter in 2023, offering 18 positions. Additionally, reports from other leading MBA institutes suggest that placement committees faced significant challenges during this year’s recruitment season.

Prof Ganesh N Prabhu, chairperson, Career Development Services at IIM Bangalore, admitted it had been “a difficult placement year”.

He expressed gratitude to Accenture for providing an unprecedented 58 job offers to graduating students, a significant increase from the 32 offers made in 2023. In 2024, IIM Bangalore experienced a higher number of placements in Consulting firms, totalling 218, ahead of all other sectors, while the Finance, Banking and Investment industry ranked second with 81 placements.

However, while IIM Bangalore celebrated its IIM placements, the MBA college saw a slight dip in placement salaries for PGP and PGPBA graduates. The median average package of IIM Bangalore placements in 2024 was Rs 32.5 lakhs, slightly down from the Rs 33 lakhs earned by grads in 2023.

IIM-A’s biggest recruiter in 2024 was Accenture, with 26 offers, followed by Boston Consulting Group with 23. The leading recruiter in 2023 was McKinsey, with 18 offers.

Elsewhere in the top MBA colleges, there are also signs that placement committees had to work hard in this year’s placement season. Professor Ganesh N Prabhu, Chairman, Career Development Services, IIM Bangalore, admitted that this year has posed significant challenges in terms of placements.

However, he thanked Accenture for making a record 58 offers to graduating students (compared to 32 in 2023). In 2024, the IIM Bangalore school saw more placements with consulting firms (218) than any other industry, with finance, banking and investments coming in second with 81 placements.

However, while IIM Bangalore celebrated its IIM placements, the MBA college saw a slight drop in placement salaries for PGP and PGPBA graduates. The average package of IIM Bangalore placements in 2024 was Rs 32.5 lakh, slightly lower than the Rs 33 lakh earned by graduates in 2023.

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