Plenty of positive reactions followed our last published piece How Trustworthy are some MBA placement reports. Reactions were largely in appreciation and support for addressing a systemic problem, a topic known to many but not much spoken/written about.
We are thankful to all. Reactions drive us to do better. However, we felt it was not good enough. If we are highlighting a problem we should also try to come out with possible solutions for the same. More so, when we are one of the stakeholders in the process.
Our intent to share authentic and accurate data of any institute, college or university with absolute transparency, is often challenged as students come back to us pointing out discrepancies in the placement reports, which were picked up once upon a time from the published document of the college but later removed or changed.
These “discrepancies” generally are reported when the student visits the website of the respective institute to verify the data which they have seen in our site but are not able to find it in the institute’s official site.
As we normally save a copy of the source of data, in such situations we are able to share with students the same, as an evidence that the placement data published by us, was once officially declared by the institute.
While we totally agree with the “B Schools are not glorified placement agencies”, the fact remains – placement data is one critical component for all students and colleges. It is also a fact that B Schools beat their drums the most when it comes to ‘placement data’. And why not ? This helps institutes to make students aware, attract and retain quality students. This also assists students in their process of selecting the B School as per their judgment.
What can management institutes do to make the placement reports absolutely transparent ?
- Placement reports published once (with much fanfare and PR activity), should not be later removed from the site, edited or changed. Addendum can be mentioned separately.
- Sharing of the salary break ups beyond the CTC. Fixed + Variable.
- Keeping past years placement data
One may ask why is the past data important when the current placement data is available on the site? Well, the past data reflects the trend. The past data indicates profiles of recruiters and type of roles being offered. Which in a way reflects type recruiters that particular institute has been attracting. And it definitely adds to the authenticity, transparency and reliability factors.
The burden of Education loan
Lest we forget that majority of students taking admission in these institutes avail education loans ranging Rs. 12-25 Lakh on a payout term of 15 years, which essentially means having the burden of an EMI of Rs. 25,000.00 to 30,000.00 every month. Hence, the transparent placement data becomes more relevant.
Why can’t there be a standardisation – a normal practice to make placement data transparent and reliable?
About a decade back there was an initiative “The Indian Placement Reporting Standards” that laid down the framework of the reporting structure of statistical data of placements which included sectoral data and profiling of roles. The standards also required the placement data to be audited by an external and independent auditor like CRISIL. Some B Schools did follow the standards as a self regulatory process.
Role of Regulatory Bodies: Can this be added in the list of ‘Mandatory Disclosures’
Regulatory body should ensure details of placement data mentioned in the Mandatory Disclosure. Also ensure that the mandatory disclosure is uploaded as per the standard format which is a well documented 80-100-page report.
What we could find at many places is a 10-12 pager document uploaded by institutes on their websites which reflects a very basic report, instead of the structured format laid down.
Sites of some top B Schools we checked for past 3 years placement data and Mandatory Disclosure.
(Past Data of B Schools in Orange were not found. Data in Table is from our records.)
|Sl No||B Schools||Avg Sal’18||Avg Sal’19||Avg Sal’20||Placement data**|
*INR Lac Per Annum
**Past 3 years Placement data found in the site as on Jun 12th 2021.