100% Placement & Beyond: A Deep Dive into IIM Rohtak's 2024 Placement Success Story

IIM Rohtak concluded their final placements for Batch 2022-24, with 100% placements where the highest package stood at INR 48.25 LPA. The average package was recorded at INR 19.27 LPA and the median package was reported at INR 17 LPA. There is a 3% YoY increase in terms of the average package offered to students. This achievement, however, goes beyond just the headline figure. So, we delve deeper into the Strategies, results, comparison of placement statistics with last year and underlying trends that shaped this placement achievement.

Economic Conditions in the Job Market:

The biggest issue that any top management Institute currently faces is the Market Condition, whether among top IIMs, Baby IIMs or the other well-reputed MBA institutes around the country is the current economic slowdown. This slowdown is because of reasons such as Global Slowdown, Lower IT Spending, Consulting Pullback and over-hiring during COVID-19, all of which are causing concerns for top Management. This slowdown includes Monetary Policy tightening like US Federal Reserves, raising interest rates to combat inflation or the Geopolitics around Russian Ukraine or Israeli-Palestine conflict, which directly impacts businesses and reduces hiring, salary pressures and Industry Impact. With the Large Batch size of 2024, companies have become more selective. As famously said, "With great power comes great responsibility”. Therefore, with larger batch sizes, there is a slightly lower average package.

Overcoming Challenges in a Competitive Market:

The placement team of IIM Rohtak navigated a complex job market to witness an outstanding average package of INR 19.27 LPA. However, due to the economic conditions and global slowdown, the year-on-year increase is just 3%, which is less than the 17% year-on-year increase seen in 2023.

At the same time, IIM Rohtak is boosting its placement by using its growing alumni network, which has been developed since 2009. This is achieved through efforts such as focused alumni outreach for industry events, mentorship programs that connect students with experienced students, which highlight alumni success stories which helped the current batch. IIM Rohtak improved its brand name and attracted top recruiters, resulting in a win-win situation for students, alumni, and the institute.

Expanding Reach: A Growing Batch and More Recruiters

The batch size at IIM Rohtak witnessed a significant jump from 237 students in 2023 to 321 in 2024. The growth of almost 40% reflects the increasing popularity and competitiveness. To accommodate this larger batch, the institute successfully expanded its recruiter base to meet the expectations. The total number of recruiters participating in placement grew from 120 to 237, with a significant increase of 70 new recruiters. This itself marks an improvement compared to previous year, as there were only 45 new recruiters. The growth reflects the good industrial partnership that IIM Rohtak is working towards. This also signifies the growing industry connection and its ability to attract more employees.

M.B.A. Focus Areas for batch students are predominately on Marketing and Strategy:

The detailed information is as follows:

Shifting Specialisations: A Changing Landscape

There has been a significant change in students' preferences regarding specialisation choices between 2023 and 2024. When we compare these preferences with the previous year, it is noticeable that preference for Marketing specialisation has grown, with students opting for this domain increasing from 41% to 60%. Simultaneously, there is a decline in specialisations like I.T. (from 15% to 6%) and H.R. (from 15% to 6%). This trend could be due to several factors, including:

• Industry Growth: If we focus on the Marketing Sector, then post-COVID, there is a lot of growth in marketing, predominantly Digital Marketing. In 2020, the digital marketing market in India was INR 199 billion, which was 47 billion more than in 2015. And it is expected to continue to grow. This shift is also one of the reasons for student's preferences.
• Curriculum Alignments: By observing the change in the industry, there are also changes in Curriculum, with more courses available for the Marketing domain to adapt to the changes in the industry.
• Student Profile: In the 2023 batch, Students with I.T. Work experience dominated, comprising 41% of the batch. However, this changed in the 2024 batch, which resulted in a shift in the specialisation.
• Evolving Job Market: This is a national shift in job market demands, with marketing roles becoming more prominent. 

Beyond the Averages: A Look at CTC Nuances Across Sectors:

While the average CTC saw positive growth, a closer look reveals variations across different sectors.

 As evident from the table, Marketing & Strategy witnessed the most significant growth in CTC, potentially reflecting the high demand for digital marketing skills in the current job market. The Finance sector also saw a good increase. At the same time, Operations and Consulting have stagnated or experienced moderation in CTC growth compared to previous years. The HR sector remained relatively stable in terms of CTC offered.

1) Sales and Marketing contributed significantly to 30% of the total offers received from the IIM Rohtak students, and the highest package has also been offered in the Sales and Marketing Domain.

• Highest Package: INR 48.25 LPA
• Average Package: INR 18.78 LPA
• Roles Offered: Area Sales Manager, Associate Brand Manager, Marketing Analyst, Sales Strategist.

2) Product Management, IT & Operations: This domain contributed nearly 20% of the received offers.

• Highest CTC: INR 46.76 LPA
• Average CTC: INR 27.82 LPA
• Roles Offered: Manager Business, Senior Analyst, Senior Business Associate, Project Manager Associate. 

3) Consulting: About 8% of the students received offers from the Consulting Domain. 

• Highest CTC: INR 22 LPA
• Average CTC: INR 16.37 LPA
• Roles Offered: Business Consultant, Strategy Consultant, Enterprise Risk Consultant, Associate Consultant.

4) Finance: 15% of offers received were in the Finance Domain.

• Highest CTC: INR 24 LPA
• Average CTC: INR 15.61 LPA
• Roles Offered: Commercial Banking Manager, Wealth Management, Corporate Banking, Investment Analyst. 

5) General Management & HR: The General Management and HR contributed around 27% of the total offers received.

• Highest CTC: INR 21 LPA
• Average CTC: INR 16.17 LPA
• Roles Offered: Brand Specialist, Customer Relationship Management, HR Analytics, HR COE (Center Of Excellence). 

Below is the detail of the domain-wise statistics of Final Placements of IIM Rohtak Batch 2024:

Marketing: A Promising Domain

The shift in the specialisation of students opting for marketing subjects also positively reflected on the final placements. Because of the increase in the number of students opting for marketing specialisation, placement in marketing also significantly increased, and 30% of students got placed in the Marketing domain.

A Broader Landscape:

The 2024 placement season at IIM Rohtak witnessed a significant expansion of the participating companies, showcasing the institute's commitment to providing students with a wider range of career opportunities. This year saw an increase in the number of recruiters compared to 2023. While some established companies like Bain & Company, H.D.F.C. Bank, G.A.I.L., Samsung, BlueStone, Bombay Shaving Company, and Schindler were absent from the 2024 recruitment process, but IIM Rohtak's placement team effectively navigated this shift. With the help of a greater alumni network and good industrial relations, they attracted new prominent names, including Thomson Reuters, TATA AIG, Havells, EATON, Lakme, Dell, L&T, K12, Maruti Suzuki, and PepsiCo.

These new recruiters highlight the strong industry relationships IIM Rohtak has cultivated over the years. Providing students with diverse placement opportunities empowers them to pursue their career aspirations across broader industries.

Top Companies Visited for Final Placements: