IIM changing the very definition of student fests

The Indian Institutes of Management (IIMs) appear to be changing the very definition of student fests. From being merely an interaction among the students six years back, the event has now turned into a most professionally managed occasion, having acquired a ‘corporate’ tinge and with a budget that ranges between Rs 12 lakh to almost Rs 1 crore.

The IIM fest is now an event for top company officials from around the globe to deliver lectures on managing companies and also spotting talent. And it is a win-win situation for both the companies and the students.

While the companies have a chance to interact with the best talent, the students will get to learn from the experience of the head honchos of the corporate world. The positive effect of this is reflected in the salaries being offered to IIM pass-outs.

Last year, a student of IIM Bangalore got a placement for an annual salary of Rs 16 lakh. “The average salary offered to the batch was Rs 8.25 lakh, a jump of about 34 per cent from the previous year,” said an official of the HRD Ministry. Similar salary was offered to students of IIM Calcutta and IIM Lucknow.

“It is an event where top executives come, interact with students and spot talent. It is a unique opportunity as in each fest, students from top B-schools from the country participate,” said Devi Singh, Director, IIM Lucknow.