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New IIM batches have more students with work experience
The global economic slowdown notwithstanding, new batches at the Indian Institutes of Management (IIMs) are seeing a higher representation of
candidates with work experience vis-à-vis freshers. A tough
employment environment has
not deterred candidates from giving up their jobs and getting an IIM tag to acquire better
career profiles.
For instance, at IIM-Calcutta, the percentage of candidates with up to 24 months of work
experience in the current batch of 2013-15 has increased to 42
per cent, against 39 per cent in the 2012-14 batch. Overall, 71
per cent of students in the current batch has work experience.
Similarly, 81 per cent of the candidates at IIM-Bangalore has
work experience. And, more than a fourth of them come with two
to three years of experience.
At IIM-Kozhikode, freshers comprised 42 per cent last year,
and this year the provisional number is down to 39.5 per cent.
“Globally, candidates seeking admission in B-schools need to
have at least three years work experience,” said Achal Khanna,CEO, Society for Human Resource Management (India).
In difficult economic conditions,companies prefer experienced
candidates as they have a quicker learning curve and faster turnaround time, she added.
In India, 5-10 years back, most top B-schools had a large
number of freshers, except a few such as the Indian School of
Business, Hyderabad, where work experience has always
been a prerequisite.
But premier B-schools in India say that understanding
workplace dynamics is an important element in management courses. “We have seen that students with close to
two years’ experience have the best choices (for jobs) since they
can apply for laterals (placements for those with work experience)as well as opt for fresher jobs,”
said Sapna Agrawal, Head of Career Development Services, IIM-B.
The salary for laterals is generally 25 per cent higher than for fresh graduates. Those with four or more years of experience are likely to be hired by companies in
verticals similar to ones they had worked in earlier.
“However, a large number of companies hire for entry-level
managerial positions. Students looking for a change from their
earlier domain actually prefer to
join these positions,” said Agrawal.