The Kirloskar Institute of Advanced Management Studies (KIAMS) is one of the 20 B-Schools to adopt the Indian Placement Reporting Standards (IPRS) process, aimed at bringing about transparency and uniformity to campus recruitments. With this move, a new benchmark has been set in management education. The IRPS process was introduced in July 2011 in an effort to bring greater uniformity to the manner in which Indian B-Schools report salary and non-salary information related to placements.
B-Schools such as KIAMS, which are adhering to the IPRS, will report the minimum, maximum, mean and median of the fixed base salary and other guaranteed cash components separately for each sector, location and function. The IPRS redefines the CTC (Cost to Company) salary communicated in placement reports to the Maximum Earning Potential (MEP), which will clearly represent the compensation that includes long-term and performance-linked variable pay. They will also report summer internship numbers divided into those arranged by the B-School and those arranged by the students on their own.
Dr. Gopal Iyengar (Director,KIAMS), speaking about the relevance of the IPRS says, “Currently reporting of placement statistics is skewed to the purpose of the stakeholder who reports it, leaving a lot of doubts about its veracity.” The IPRS works in two ways when it comes to the dissemination of information: when recruiters communicate the offers to the institute or students and when the institutes communicate the same to the media. Henceforth, the recruiters will have to specify the components of the salary in detail.
After the placements are done with, they will release an interim unaudited report to the public and the media. The standardised placement report will be released three months later, after the school updates the salary data with the actuals based on the information gleaned from their graduates after they have joined the companies. In a congratulatory message to KIAMS, Prof. Saral Mukherjee, Associate Professor and Chairperson-Placement Committee, IIM-Ahmedabad adds, “The IPRS website provides the names of the institutes which are now members of the IPRS. I thank you again for joining us in this journey. We look forward to feedback on how to make the IPRS website more meaningful and user-friendly.”
The success of the IPRS depends on the willingness of India’s B-Schools to accept it. And considering that one of its objectives is to prevent the use of employment reports as marketing devices to attract students and employers, the standardised process (adopted by KIAMS along with only 19 other MBA institutes) will bolster its credibility even further.
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