Indian Institute of Management Ahmedabad
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Template:Infobox University Indian Institute of Management Ahmedabad (IIM Ahmedabad, also known as IIMA), was the second Indian Institutes of Management to be established in India after IIM Calcutta. It is the premier institute of management education in India and is widely considered to be one of the toughest to get in MBA programs in the world. Over 170,000 people apply each year for the entrance exam to get into roughly 250 places. IIMA has frequently been rated as one of the best business schools in Asia.
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History
It was established in 1961 as an autonomous institution by the Government of India in collaboration with the Government of Gujarat and Indian Industry. Dr. Vikram Sarabhai, a noted scientist and industrialist and other Ahmedabad based industrialists such as Kasturbhai Lalbhai played a major role in the creation of the Institute.
Evolution
IIMA was conceived not to be purely a business school, but a school of management. Its mission is to professionalise Indian management through teaching, research, training, institution building and consulting. It also aims to professionalise some of the vital sectors of India's economy such as agriculture, education, health, transportation, population control, energy, and public administration.
In its formative years, IIM Ahmedabad collaborated with the Harvard Business School (HBS). Largely as a consequence of this collaboration, IIMA pioneered the case method of teaching in India. Even now the strength of IIMA is its strong emphasis on the case method.
Campus
Image:NorthIndiaCircuit 416.jpg Image:IIM (new).JPG The campus of IIMA is dominated by the baked brick style favoured by the its chief architect, the famous Louis Kahn. All the structures are designed to be part of a whole and looks one integral whole. Other architects who collaborated on the campus include the renowned B. V. Doshi and Anant Raje. As of January 2005, there are 27 dorms in IIMA, each of which can hold 25-44 students in single-person rooms. Each dorm has its own distinctive culture and traditions. Work on a new campus is going on as on 2005. The new campus is just across the road from the old campus and houses 9 of the 27 dorms and some class rooms and seminar halls.
Placements
Indian Institute of Management, Ahmedabad (IIMA) conducted its final recruitment process between March 14th and 22nd. A total of 477 job offers were made to 247 students who participated in the placements of the 2003 – 2005 batch . This is an increase of 49% in number of students over last year. The number of companies whose offers were accepted also increased by 40% to 76 from 54 last year.
IIMA: An internationally recognised brand
IIMA’s ability to consistently produce graduates capable of matching and surpassing the best, globally was reaffirmed. Not only did existing recruiters maintain their relationship with IIMA through recruiting large numbers but many new recruiters also came down to recruit based on the growing global reputation of IIMA graduates. The number of companies offering overseas jobs increased from 13 in 2004 to 21 in 2005. About a third of the batch was placed overseas. Major investment banks such as Barclays Capital, Deutsche Bank, Goldman Sachs, HSBC, Lehman Brothers, Merrill Lynch, Morgan Stanley and UBS continued their association with the institute. So did the global consulting majors, AT Kearney, The Boston Consulting Group, Bain Consulting and McKinsey & Company. 22 new companies came to the campus this year.
Greater job diversity
There was greater choice available to the graduating batch both in terms of jobs being offered in new sectors and also greater diversity within a sector. The new sectors which recruited this year included private equity, hedge funds, infrastructure consulting, corporate treasury, civil aviation and analytics.
Overall, jobs were offered in various sectors, reflecting the all-round strength of the Institute’s curriculum. Table 4 gives the jobs accepted by sector. Among the top recruiters were Lehman Brothers (14 acceptances), Al Ghanim (12 acceptances), IBM (12 acceptances), Cognizant Technology Solutions (10 acceptances), Procter & Gamble (10 acceptances), and PricewaterhouseCoopers (8 acceptances), representing the high demand across sectors. Approximately half the foreign offers were based in UK and US. Table 5 provides a location-wise distribution of jobs.
Increased student focus and selectivity
Several students rejected higher paying foreign offers in favour of domestic offers. Some students opted out of placements. They intend to start their own enterprise. This continues a trend from last year, when one student rejected an MNC offer to start a school. This reaffirms that IIMA students choose their offers based on their interests and job profiles rather than just the monetary considerations.
One of the best lateral placements in India
Lateral recruitments in recent years have seen an unprecedented rise. Companies recognised and gave credit for previous work experience of students by making them exciting lateral offers. Middle management level offers were made by IT, financial services, consulting and investment banking companies. The two highest international salaries on campus are both lateral offers and so is the highest domestic salary. McKinsey & Co., for the first time, offered an Associate position in Singapore to a laterals candidate.
Rise in Salaries
The salaries offered to IIMA graduates touched new levels. Both domestic and international salaries increased substantially. The average domestic salary increased by 12% to Rs.7.90 lakhs from Rs.7.08 lakhs last year. The maximum domestic salary was Rs.14.5 lakhs, offered by GECIS for an Assistant Vice-President position.
The average international salary this year is US$ 80,000. The maximum offered in investment banking was US$ 152,000, by HSBC, London.
Looking to scale greater heights
Recruitments 2005 have once again underscored IIM Ahmedabad’s ranking amongst the top B-schools of the world. The successful placement of the larger batch size of 247 students confirms the world-class quality of IIMA graduates. A remarkable feature this year has been the increased diversity of jobs on offer. Also, an extremely successful lateral recruitments process has ensured that students get credit for relevant work experience. The IIMA Recruitment Cell expects this trend to continue, bolstered by increasing salaries, better job profiles and more challenging opportunities across the globe.
Noted Alumni
- M.S. ("Vindi") Banga, former CEO of HLL, India, President Foods of Unilever
- C K Prahalad, Management Guru, Harvey C. Fruehauf Professor of Business Administration & Professor of Corporate Strategy and International Business at the University of Michigan
- Raghuram Rajan, Director of Research & Economic Counselor for IMF
- Jerry Rao, CEO of Mphasis BFL; Chairman of NASSCOM (2004-05)
- Harsha_Bhogle, celebrated cricket commentator
- Mallika Sarabhai, celebrated danseuse, actress, and social activist
- K V Kamath, CEO of ICICI Bank