Demystifying 5 Common Misconceptions About IIMs
Ever since the inception of the first Indian Institute of Management (IIM) in Calcutta in 1961, the IIMs have become the epitome of management education. It takes a rigorous amount of study, practice, and discipline to get into one of the pioneer IIMs. For those who dream of getting into an IIM, the life on campus is almost a mythical dream.
In this article I would address some myths about IIMs from an insider’s perspective. I spent one year at one of the older IIMs as a student in their one-year MBA program and I have tell to you it’s worth all the hype. Anyway, coming back to the myths…
1. The only way to get into one of the older IIMs is to get 99.99 percentile in CAT.
Wrong. First and foremost, yes you do need a good percentile in CAT to get an interview call, but 99.99 percentile is not the cut off. IIMs look at a candidate’s profile too and applicants with 80+ or 90+ percentile have been known to convert their IIM interview.
Apart from CAT, GMAT is another way to get into an IIM. IIMs accept GMAT and GRE scores for admission to their one-year MBA program.
2. IIMs don’t have one-year MBA programs.
Wrong again! Most older IIMs have a well fleshed out full time one-year MBA program (nomenclature differs from IIM to IIM) which is equally rigorous and trains students for middle & senior management roles.
3. Getting into an older IIM guarantees a high-paying job.
Jobs are dependent on market conditions and depending upon the market trends of the year, the salary packages being offered during campus placements fluctuate. The packages offered are good enough but students should be realistic about their expectations.
4. “I am an IIM student. I will easily be placed.”
Yes, it is easy for a student with an IIM degree to land an interview, but getting an offer depends upon how well you perform in your interview. The hard work does not stop with getting an admission offer from the IIMs.
5. Life as a student in IIM is boring!
It’s far from boring! Each IIM has a thriving campus life with many recreational activities available on campus. Students also get regular opportunities to participate in cultural and sports events. IIMs also have thriving industry-specific societies/committees that help students explore industries of their interest and make informed career decisions. There are regular interaction opportunities with industry leaders and symposiums that expose students to new ideas and people.
