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Legacy at stake: Future ‘tense’ for 72 IIM L grads as alumni rally to secure placements
The first-generation IIM, as such, has turned to its alumni hoping that its ‘unplaced’ soon-to-be-graduates land jobs before they get their certificates.
Indian Institute of Management Lucknow (IIM L), a top-notch B-school in the country, is facing an unprecedented challenge that threatens its legacy of 100% placement record.
Many of its students—72 to be precise—are without a job even as their scheduled convocation ceremony is just weeks away in March—contrary to students already making headlines by securing lucrative offers by some of the biggest companies in previous years.
The first-generation IIM, as such, has turned to its alumni hoping that its ‘unplaced’ soon-to-be-graduates land jobs before they get their certificates.
The situation is said to be similar at IIM Kozhikode and IIM Indore where it is taking longer to complete the placement process.
An urgent appeal that the alumni have reportedly received read: “Dear Batch of 2011. We are writing to address the current situation regarding unplaced students from our batch. Currently, 72 talented individuals are seeking employment opportunities.”
A screenshot of the WhatsApp message is making rounds on the internet.
It read further: “We are reaching out to our alumni of the 2011 Batch for assistance. We understand that everyone has unique connections and networks, and we are hopeful that you may be able to help in placing our students. If you are aware of any job opportunities or have connections within your professional network that align with the skill sets of our 2024 batchmates, please consider referring them or informing us about potential openings. Your support is crucial in maintaining the legacy of IIM Lucknow’s 100% placement record.”
Responding to the situation, IIM Lucknow placement chairperson Prof Priyanka Sharma said: “The process of placement is underway. There is nothing to worry about. Even today a few companies had come to the campus. Once placements are over, IIM L will issue an official press release.” Another official said reaching out to former pupils was a regular practice.
IIM Kozhikode director Prof Debashis Chatterjee said, “There is an economic downturn. Placement work is taking longer than usual. I’ve heard that IIM Lucknow is looking to getting its 70-odd pupils placed. I’m sure that it will.”
IIM Indore director Prof Himansu Rai remarked: “It is taking more time than usual (to complete placements) in all IIMs. 100% placement will happen, of course. Compared to last year, the number of offers that companies are making is low. For example, if a company took 10 students last time, it is taking only two or three this time. Also, some companies have a hiring freeze this year.”
“IIM Lucknow is considered to be one of the top five colleges in the country. They have alums who are in extremely powerful positions. They can and will help. Most of these 72 folks will get placed but what about thousands of other MBA students? I do not think they will get this lucky. It is going to get really tough in the near future,” read a post by a concerned social media user.
Last year, IIM L secured 100% placements for its 37th batch of its Postgraduate Programme (PGP) and 18th batch of PGP- Agribusiness Management (AGM) students. It was the largest batch in the history of its 37-year legacy. The institute secured 632 offers for 556 students and placed them across multitude of roles in consulting, finance, general management, IT and analytics, sales and marketing, and operations & retail e-commerce with top recruiters from across the globe.
In 2023, the institute had achieved the highest ever average and median CTC of INR 32.23 lakh per annum and INR 30 lacs per annum, respectively, with the highest domestic and international CTC (cost-to-company) reaching INR 55 lakh per annum and INR 65 lakh per annum, respectively.
