Bengaluru (Karnataka) [India], March 16 (ANI/NewsVoir): JAGSoM, a premier Bangalore-based AACSB Accredited B-school, is on a mission to shape up young talent into industry-ready professionals with strong problem-solving skills. Towards this goal, they have taken many strategic initiatives like Research Incubation/ Innovation Incubation (RI/II), Request for Problem (RFP), and long Industry Internship Program (IIP), where they have even delayed their Placements Calendar. But its strategy is producing strong results now, and JAGSoM is confident that momentum will continue.
Key evidence that new placement approach at JAGSoM is working, is the growing number of Pre-Placement Offers (PPOs) for 2023 batch, which stands at over 50 per cent, even as the formal placement process is now underway. There are several other notable achievements for Placements 2023.
- The current average compensation package at JAGSoM stands at INR 17.2 Lakh Per Annum (LPA).
- The highest domestic compensation offered is INR 43.0 LPA.
- 3 students have received international offers, with the highest compensation being USD 103,500, which is approximately INR 85 LPA.
- Over 30 organisations that have extended these PPO span across Information Technology, Consulting, NBFC, Automotive, Banking, Real Estate, and growth stage start-ups.
- Prominent names such as Wipro, SAP Labs, Schneider Electric, Hexaware Technologies, Federal Bank, Classic Legends, and Berkadia too have offered PPOs.
Placement Strategy at JAGSoM
It all starts with putting the right strategy in place, and then making sure that the execution is as stellar as possible. Outlining the Placements Strategy, Prof Rajesh Kumar, Chairperson, Internships and Placements, JAGSoM says, "Ours is an engagement-driven approach, unlike 'mela' driven placement followed by most B-Schools. The 'mela' approach does not provide the recruiter and aspirant an opportunity to discover each other well, resulting in high attrition in the initial years itself."
So how is JAGSoM's approach different from other B-schools? Prof Kumar says, "Our approach to Placements is quite different. The students at JAGSoM are nurtured through a unique three step 'Learing by Solving' pedagogy, namely, Research Incubation/ Innovation Incubation (RI/II), Request for Problem (RFP), and Industry Internship Program (IIP)." He adds that:
- In the RI/II stage, student teams work on an industry sector or business function identifying key issues, thereby developing an in-depth understanding of the domain. They also have the choice of nurturing their entrepreneurial mindset and create their own startup in a structured fashion.
- As part of RFP, JAGSoM invites industry partners to refer business problems that they are currently engaged with, which student consulting teams help to solve, each led by a full-time faculty member.
- While both the above interventions provide significant learning opportunity to define a 'business problem' in scope, in solving the same comes in the 16 week Industry Internship Program.
- Learner success attests to the effectiveness of these interventions in preparing students for successful careers. Alex S Muricken from the Class of 2023, who chose the Sales & Service career track and has already landed with an offer after gaining hands-on experience through a 'Request for Problem' project with a leading two-wheeler brand in the automotive industry.
- Neha Shahi, a career track graduate in Capital Markets from the class of 2023, reflects, "JAGSoM prepared me to succeed in my career pursuits, including securing a position of my choice at Blackstone. I am deeply appreciative of the knowledge and support provided by the faculty and staff at JAGSoM."
JAGSoM delays Placement Calendar 2023
To accommodate for IIP and other initiatives, JAGSoM had to even delay its placement calendar. Final Placements Process for the 2023 graduating batch commenced in the last week of February and is expected to conclude by end of March 2023.
Since most B-schools start their placements November or December, why does JAGSoM follow a different calendar? Sharing the rationale, Dr. Atish Chattopadhyay, Director, JAGSoM said, "In most top Business Schools, the 2nd year is a washout post the summer internship, with limited student interest in learning. That is not the case at JAGSoM. We polish rough diamonds into industry-ready talent, which is borne out by the outcomes in terms of learners' success."
JAGSoM Placements 2022 Highlights
While the JAGSoM placement approach is unconventional, it has garnered good results in past. Last year, during the 2022 placement drive, the highest package offered was INR 22.25 LPA, with the average package being Rs 10.58 LPA. Over 162 companies took part in the final placement process, comprising of both well-established companies and a significant number of new-age recruiters. Some of the top recruiters for JAGSOM in 2022 were ZS Associates, BNY Mellon, Arcesium, Informatica, and others. The IT & Services sector was the largest employer of JAGSOM students in 2022, with 28 per cent of students being placed there, followed by the BFSI sector at 22 per cent.
JAGSoM Placements 2023 Expectations
While the formal placement process started during February end, JAGSoM leadership is bullish and has high expectations. Key reason is strong Pre-Placements Offers (PPO) achieved so far.
Sharing the placements expectations, Dr Rajesh Kumar said, "The trend as of now shows significant improvement in placement outcomes over previous years. Almost 50% of the students have received their PPOs as of now. There are 3 big International Offers with the highest being USD 103,000, which is INR 85 lakhs at current exchange rates. Based on the current offers, the average compensation stands at INR 17.2 Lakh per annum, and the highest domestic compensation stands at INR 43 LPA."
PPOs - a key barometer of success
A pre placement offer (PPO), often given to students on the completion of their summer/winter internship before the completion of the course, comprises an Offer Letter that gives them a chance to join their interning organization once they complete their MBA/PGDM. PPOs take performance of a candidate, and his/her cultural-fit, and are offered only to students who prove their calibre to become a regular employee. If a candidate accepts the PPO, appointment letter is given to them in advance.
A question that arises is - why are PPOs considered important by B-schools and their students. While a PPO relives the stress off student's shoulders, it also helps them to focus on curriculum and learning while their peers toil in the regular placement interviews. Says JAGSoM, "Our high PPOs shows that long duration IIP as an engagement-driven approach has received acceptance from the industry." JAGSoM expects more conversions, and expect over 60% of the batch placed through PPOs.
Placements 2023 Trends
JAGSoM informs that there are many other significant trends they are noticing in their placements this year.
- Students have found roles as Functional Consultant, Business Analyst, Market Research Analyst, Data Analyst, Digital Marketing & Social Media Analyst, Business Operations, Marketing Analyst, Financial Analyst, Financial Modelling across IT & ITES, Financial Services, Automotive, Banking, and Manufacturing sectors, among others.
- The three international PPOs have been offered by translational companies such as Bectran, Factset, and New York ISO.
- Startups such as Arthan Finance, Smartstream, Urban Piper have also recruited at JAGSoM, which is aligned to their objective of preparing students for new age roles in new age industries.
Based on the success of their model, which assures high PPOs, JAGSoM is contemplating on reducing the dependence on formal placement in coming years. "Our endeavour is that over a period on next five year, the entire batch be placed through internship only," says Dr Atish Chattopadhyay.
Jagdish Sheth School of Management (JAGSoM) is amongst the first 6 business schools in India to be awarded AACSB accreditation. It is Globally Ranked in QS Masters Global Ranking 2022 in PGDM Marketing, PGDM Analytics and PGDM Finance. JAGSoM has been ranked as a top business school by Business Today in 2022 in terms of Future Orientation and Learning Experience (Ranked All India 12th for Future Orientation and ranked All India 20th for Learning Experience). JAGSoM is also ranked as 14th amongst private business schools of India and has been ranked 28th all India.
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