NAVIGATING JOB CRUNCH

Placements hit a wall as tech disruption and economic uncertainty resahape hiring dynamics across B-schools.

- Manoj Sharma

A STUDENT pursues a postgraduate degree or diploma from a B-school for two reasons-to get a highpaying job or become an entrepreneur. Most in the former category want a 'dream job' at multinational companies. All organisations need managers, after all. But the job market for entrants has hit a wall. The trend started in 2022 and continued in 2023; 2024, too, looks unpredictable.

In 2023, every B-school, from top to mid and lower level, struggled to place students. At IIM-Ahmedabad, which topped the National Institutional Ranking Framework (NIRF) for the 5th time in 2024, maximum earning potential (MEP) for one-year executive course this year dipped to a six-year low. The highest package, ₹54.8 lakh per annum (LPA), was 50% lower than 1.08 crore in 2023. It was lower than even the average highest MEP from 2018 to 2022 (70.56 lakh). Utkarsh Shukla, the PGPX recruitment secretary of IIM-A, says this year was especially challenging due to "tough market conditions." A total of 120 firms took part in IIM-A's post-graduate programme summer placement, a decline from 145 a year before. A total of 96 students got 145 "dream applications" (flexibility to choose sectors), down from 250 in 2023. Final placements for 2024 will happen in January-February 2025.