India Business
After IIM-B, IIM-L not do disclose placement packages
Mar 8, 2007 - 4:40:15 PM

Lucknow, March 8 - Following in the footsteps of the Indian Institute of Management - Bangalore, the IIM-Lucknow has decided not to disclose details of pay packages offered by corporates to its graduates passing out shortly.

Authorities at the premier business school here said that the decision was taken in the 'larger interest of safety and security' of the graduates.

'We took the decision following much pressure from family members of students who wish to avoid public gaze,' IIM-Lucknow director Devi Singh told IANS Thursday.

He said the policy was most likely to be adopted by the remaining IIMs - at Ahmedabad, Kolkata, Indore and Kozhikode - as well.

A total of 280 students would graduate from the IIM-Lucknow in April.

The IIM-B decided earlier this week not to disclose to media the salary figures offered to students to avoid unnecessary public attention. IIM-B placement cell chairman S. Mukherjee said the decision was taken to avoid unnecessary stress among students.

Over the past few years, IIM-L graduates have been getting fat pay packs and the highest package offered in 2006 was in the vicinity of Rs.1.5 million per annum. According to Singh, the figure could go up by 40 to 50 percent this time.

'Once details are publicised that a graduate was going to start his career with such a big pay-packet, he or she becomes an easy target of criminals and extortionists, particularly in states like Uttar Pradesh, where the crime rate is high and kidnapping rampant,' said a senior IIM-Lucknow faculty member on the condition of anonymity.

However, Singh said this was also being done to 'dispel false impressions about a graduate's calibre, often created on account of the pay packages offered or accepted'.

He said there were many occasions when graduates chose to accept lower packages because of other professional or personal considerations.

'For instance, a particular company may be offering very lucrative pay packets but may not be in a position to provide the same exposure and experience as a more established organisation with a relatively small packet,' Singh clarified.

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