The sheer pre-selected input quality is a major contributory factor for the success of IIM alumni in the corporate sector.
Over the past four decades, our IIMs have withstood the test of time and stand out as centres of excellence. They rank amongst the toughest institutes in the world to secure an entry in to and over the years have produced outstanding leaders who have excelled in the global stage. So what makes them tick?
First and foremost is the selection process which ensures that only the best and the brightest get through. This is followed with high-quality inputs imparted to these bright young minds. With several bright minds competing, the peer pressure brings out the best in each of them.
Since the mid-70s, graduates from these institutes have slowly and steadily permeated the Indian corporate landscape and through their sheer brilliance and contribution, have climbed the corporate ladder and they further patronised their alma mater in their organisations. Realising the true value and potential of these graduates, many multinationals and local corporations over the years made it an established practice to bottom-fill their leadership hiring from the IIMs. Careers with HLL (now HUL), Citibank, Asian Paints and the likes were sought after and the passport to that was to get an entry into one of the IIMs as the first step.
With very little capacity addition in these institutes and a burgeoning economy, the demand for these ‘exalted lot’ only grew further and companies out bid each other in these campuses. The advent of investment banks and consulting firms in the campus scene has further skewed the demand supply equation leading to unprecedented levels of entry-level compensation and has pushed traditional recruiters to the back foot. This has reached a crescendo in recent years and eye-popping salaries are being offered in the campuses.
With the rapid proliferation of management education in the country, today students have more options when it comes to choosing their institute of choice. Any institute in our opinion takes about a good two to three decades to establish its reputation as their graduates start making an impact on the industry. Also, much would depend on the positioning of the institute, the kind of companies which grace the campus, the input quality and the selection methodology deployed.
In summary, the sheer pre-selected input quality is major contributory factor for the success of IIM alumni in the corporate sector. Further, the very presence of several successful and distinguished alumni from these institutes in the corporate landscape adds up to the brand value of these institutes.
The position occupied by the IIMs as the foremost management institutes in this part of the world will not be taken away in a hurry and one only hopes that the impeccable input quality is maintained at all times. In some ways, proliferation of brand IIM and opening up of several new ones, over the years will lead to commoditisation and result in compromised input quality and the effects of this will be visible only in the next couple of decades. Mind you, other institutes with the right input quality are also catching up and we will perhaps see a level playing field in the decades to come.
ABOUT THE AUTHOR
K Sudarshan is managing partner, India, EMA Partners International, a global executive search firm
