Placement Details

The students of the 11th batch of IPMX managed to get offers for mid-to-senior Management roles. On the occasion, IIM Lucknow extended its gratitude to its industry partners for their continued support in the form of Leadership Talks, Project Collaborations, Seminars, and Placements.

The school said IPMX, a rigorous one-year full-time program equips students to deal with challenging roles across industries. As a testimonial, the students were successful in getting their coveted roles and positions, with 95% of them achieving a higher role shift and 84% of them an industry shift.

The average CTC for the Batch was Rs 20.05 Lakh and the median CTC was Rs 18.82 Lakh.

Among the general managerial roles, the ones that stood out were Assistant Vice President, Techno Commercial GM, Program Manager, Financial Controller, Senior Consultant, Strategy Consultant, Senior Project Manager etc.

Industry-wise Offers

Consulting and IT topped the industry-wise offers at 32% each. ITeS accounted for 13%, followed by Conglomerate 9%, BFSI 8%, Infrastructure, e-Commerce and Automobile & Manufacturing at 2% each.

Offers Across Functions

The biggest share of the pie at 41% was carved out by Consulting followed by Project Management 19%, Strategy & General Management 13%, Analytics 9%, BD & Sales and Operations 6% each, Program Management, FP& A and Supply Chain 2% each.

Class Profile

The 11th IPMX batch comprised 46 students from diverse backgrounds. The cohort had an average work experience of 8 years and an average international experience of 2 years. As far as work background is concerned, the majority 54% were from IT followed by from Power/Energy 12%, Manufacturing 9%, Engineering 7%, Oil & Gas, Analytics and Consulting 4% each, Automobile and Telecom 2% each.

As part of the program, IPMX participants get an opportunity to develop their global industry outlook through the international immersion program. Every year, the students travel to partner universities across the globe where they get to interact and connect with students and faculty at a global level. This helps in developing holistic and international perspectives which is a crucial skill for managers.

The IPMX class of 2019 has undergone the international immersion in collaboration with ESCP Management School in London, United Kingdom. They spent one full term at the London campus covering courses on Marketing, Management Information Systems and Macro-economic environment among others.

Sources: 1 

The Indian Institutes of Management (IIMs) are seeking clearance from the Union Government to allow them to award degree certificates instead of diplomas for their one-year full-time management programs that admit only professionals with work experience.

The one-year programs at the IIMs are considered equivalent to the MBA, figuring in several international rankings.

However, since the students are awarded only a diploma and not the degree on completion of the program, they face difficulties in pursuing further studies or jobs abroad in the absence of the MBA degree certificate.

• The IIMs offer one-year full-time programs under various names. The Post Graduate Program in Management for Executives (PGPX) at IIM Ahmedabad, the Executive Post Graduate Program in Management (EPGP) at IIM Bangalore and IIM Indore, Post Graduate Programme for Executives (PGPEX) at IIM Calcutta and the International Programme in Management for Executives (IPMX) at IIM Lucknow.
• The one-year programs have, for long, been waging a perception battle, more often than not, being mistaken for part-time executive MBA programs, mainly on account of the “executive” tag put by the IIMs to differentiate them from the 2-year full-time programs.
• Even the Indian government, under the mistaken impression, had clubbed these programs with the other part-time programs, refusing to grant them exemption from taxes unlike the 2-year programs aimed at fresh graduates.

The IIM Act 2017 that came into force on January 31, 2018, granted a huge amount of autonomy to the IIMs, including the freedom to grant MBA degrees. At least three of the 20 IIMs, namely, IIM Bangalore, IIM Calcutta and IIM Ahmedabad have changed over to giving degree certificates to graduates of the 2-year Post-Graduate Program (PGP) from the diplomas they were earlier awarded.

While 14 members of IIM Bangalore’s Board of Directors have approved the proposal, IIM Ahmedabad was to present it at the Board meeting on April 16.

However, in the case of one-year programs, the criteria specified under the University Grants Commission (UGC) Act stood in the way. Under UGC rules that a Master’s degree in management has to be of a minimum two years duration.

The Human Resource Development (HRD) Ministry had issued an order on March 8, 2018, that the IIMs will have to seek the government’s permission for awarding a degree that is “not in accordance with the UGC notification”.

This was the explanation the IIM Directors received from Union Human Resources Development (HRD) Minister Prakash Javadekar in December 2018. The Ministry is understood to have softened its stand since then leaving the door open for further discussions, according to a report in the Economic Times.

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The newspaper said while 14 members of IIM Bangalore’s Board of Directors have approved the proposal, IIM Ahmedabad was to present it at the Board meeting on April 16. IIM Calcutta was already in touch with the Ministry. The talks were stated to be in an advanced stage.

At the IIMB director board meeting, the HRD ministry representative is understood to have pointed out that the UGC rules did not allow awarding degrees for one-year programs. There was no official word from the IIM about the meeting or the proposal.  Director G Raghuram did not respond to ET queries on the issue.

Meanwhile, IIMA director Errol D’Souza told the newspaper that the matter will be taken up at the Board meeting. He expected a favourable response from the Ministry. The IIM has been pursuing the issue with the government since last year.

IIMC acting director and dean (New Initiatives & External Relations) Prashant Mishra said the Board has approved degree status for the two-year and the doctoral programs. The issue of one year program has been taken up with the HRD ministry and a decision will be taken after the necessary clearance.(Image Source:wikipedia.org)

The IIM Directors are understood to have taken up the issue at a meeting with the Department of Higher Education Secretary R. Subrahmanyam, according to a report in the Indian Express.

While some of the IIMs, including IIM Bangalore, have already decided to award degree certificates to graduates of the 2-year full-time Post-Graduate Program (PGP), they ran against a stumbling block in the case of one year programs in the form of the University Grants Commission (UGC) Act.

The UGC has specified that a Master’s degree in management has to be of two years duration that automatically rules out the award of the degree to the one year program students.

However, what is being missed out is that the one-year programs are aimed at professionals with some years of work experience, who want to move up into the higher echelons of management. They have, for long, been waging a perception battle, more often than not, being mistaken for part-time executive MBA programs, mainly on account of the “executive” tag put by the IIMs to differentiate them from the 2-year full-time programs.

Even the Indian government, under the mistaken impression, had clubbed these programs with the other part-time programs, refusing to grant them exemption from taxes unlike the 2-year programs aimed at fresh graduates.

While the Indian Institute of Management Act 2017, had granted autonomy to the IIMs in several areas, including the power of giving postgraduate degrees instead of diplomas, the UGC rules have led to a conflict.

The Human Resource Development (HRD) Ministry had issued an order on March 8, 2018, that the IIMs will have to seek the government’s permission for awarding a degree that is “not in accordance with the UGC notification”.

Meanwhile, one of the IIM Directors said after the meeting that they have sensitised the ministry on the matter and expressed the hope that the Ministry will reconsider the matter in favour of the students. The meeting was held on the sidelines of the 6^th Pan IIM World Management Conference held at IIM Bangalore from December 13-15.

At the meeting, the IIMs had also urged the ministry to reconsider the entry criteria laid down by the government for the doctoral programme offered by them.

MiMs target fresh graduates with little or no professional experience. Executive MBAs are usually part-time programs for working professionals with classes held in the evening or weekends.

Under the existing rules, a Cumulative Grade Points Average (CGPA) of 8 is needed for direct entry candidates with a four-year degree or B.Tech. The IIMs want this to be revised to 6 CGPA. They also want to be allowed to admit candidates even with a one-year postgraduate diploma as opposed to the two-year diploma prescribed under the rules.

The HRD Ministry, in a communication to all the 20 B-schools, had stated that the IIMs will be allowed to grant admission to students with a four-year bachelor’s degree directly into the PhD program. The duration of the course for such candidates will be four years.

In case of the three-year doctoral program, the Ministry had specified that applicants should either have a Master’s degree or a two-year PG diploma or a professional qualification such as CA/ICWA/CS with B.Com.

Meanwhile, the IIMs themselves are split over the nomenclature of the degree. While IIM Ahmedabad and Lucknow prefer Master in Management (MiM), the others favour Master of Business Administration (MBA). However, MiM is not on the list of approved degrees under Section 22 of University Grants Commission (UGC) Act, 1956. It specifies MBA or Masters in Management Studies (MMS) for the two-year management programs being offered by management education institutions.

Prior to the IIM Act, the IIMs were separate entities registered under the Societies Act. Since societies are not authorised to award degrees, students admitted to their Master’s program were given a Post Graduate Diploma in Management (PGDM). Those pursuing doctoral studies were awarded the title of a ‘Fellow’ at the end of their research.

In the international management education scenario, MBA is awarded for full-time programs of one to two years duration for professionals with at the least three years of work experience. MiMs target fresh graduates with little or no professional experience. Executive MBAs are usually part-time programs for working professionals with classes held in the evening or weekends. These may lack the rigour of full-time MBA programs.

This year, the admissions to the AMBA, UK accredited program will take place in two phases. Professionals should apply on or before November 15, 2018, in the first phase. Those who need not give three months’ prior notice to their organisations, could apply in the second phase during November 16–January 25, 2019.

IPMX provides the students with exposure to all aspects of business education in India as well as the international business environment. They are expected to develop an understanding of business at functional and strategic levels and prepare themselves to manage global business firms.

The curriculum focuses on a strategic understanding of business, rooted in practical skill development through projects and industry interface. One core component of the programme is an international module at one of our partner institutes located in Europe/East Asia.

This international module provides the students with an opportunity to experience the international business environment and to equip themselves with the knowledge and perspective relevant to current global business issues. The eleventh batch of IPMX (academic year 2018–19) visited ESCP Europe, London for their international module for one full term.

A minimum of 5 years of full-time post-qualification (after graduation) managerial experience is needed as on March 31, 2019 (Managerial or Professional Experience Certificate or Pay Slips would be required as proof). The Program is open to executives of all nationalities and there is no application fee.

The program provides ample opportunity for personal development and professional growth through an interactive learning environment. NOIDA being the hub of commercial and industrial activity, the locational advantage also plays an important role in the learning process.

Industry related assignments and real management contexts form an integral part of the course curriculum. The delivery is oriented towards best practices, an integrated strategic perspective, project work and constant engagement with industry.

The Career Development Services of the Institute facilitates in providing placements to non-sponsored students. The overall goal of the program, according to IIM-L, is to broaden the core managerial competencies to further enhance the professional growth of students.

Eligibility criteria

You should have a Bachelor’s degree in any discipline or an equivalent qualification with a minimum of 50% marks or equivalent CGPA. GMAT score for the test taken during November 16, 2013 – November 15, 2018, is required for first phase applicants and January 26, 2014 – January 25, 2019, for second phase applicants.

A minimum of 5 years of full-time post-qualification (after graduation) managerial experience is needed as on March 31, 2019 (Managerial or Professional Experience Certificate or Pay Slips would be required as proof). The Program is open to executives of all nationalities and there is no application fee.

You have to submit the duly filled Application Form along with copies of supporting documents along with two Letters of Recommendation. If you are applying online, you should provide the contact details with email ids of the recommenders. The suggested recommenders will receive an e-mail requesting them to submit the recommendation letters directly to the admissions office.

When sending the hard copy of the Application Form, two recommendation letters must be sent in sealed envelopes with each recommender’s signature across the seal on each envelope.

Based on GMAT scores, candidates will be shortlisted for Writing Ability Test and Personal Interview. The final score is calculated giving 30% weightage to GMAT scores, 30% for the academic and professional profile, Writing Ability Test 10%, Personal Interview 30%.

Admission Schedule

The names of the shortlisted candidates in the first phase will be announced in the third week of November and the fourth week of January 2019 in the second phase. Writing Ability Tests and Personal Interviews will take place in the fourth week of November and the first week of December in the first phase and the first and second weeks of February 2019 for the second phase.

The announcement of selected candidates will take place in the 2nd week of December and 3rd week of February for the first and second phases respectively. Acceptance and submission of the first instalment of fees for the first phase will be in the first week of January and the second week of March 2019 for the second phase.

The program starts in the first week of April 2019.

Fees & Other Expenses

The fee for IPMX 2019 – 2020 is Rs 23,50,000 plus refundable caution deposit of Rs 30,000 plus taxes. It includes tuition fee and student accommodation facility on campus, international module expenses (travel, visa, academic charges and stay on twin sharing basis) and service facilities (computing and networking, library services, career counselling, students’ activities, alumni association and convocation). Food is not included in fee.

During the international module, expenses on food, local transport and other incidentals like the internet, telephone, and stationery, etc. are to be borne by the student.

A limited number of family accommodations are available on campus for an additional charge of Rs 1,25,000 per student.(Image Source: IIML official website)