IIM B 1 Year MBA/EPGP Placements 2019 – Highlights

The average salary was pegged at Rs 26.28 Lakh per annum (LPA) and median salary at Rs 25 LPA. Both the average salary and median salary went up from Rs 23.46 LPA and Rs 22.00 Lakh LPA respectively recorded during the EPGP 2018 placements.

All the 73 students of the EPGP 2018-19 batch participated in the placement process that concluded in June 2019 and accepted the roles offered within three months of graduation, IIM Bangalore said in the Placement Report.

• Higher mean salary in 2019 compared to 2018: The mean salary has gone up by Rs 2.82 Lakh to Rs 26.28 LPA in 2019 as compared to Rs 23.46 Lakh LPA in 2018
• Higher median salary in 2019 compared to 2018: The median salary has risen by Rs 3 Lakh to Rs 25.00LPA in 2019 from Rs 22.00 LPA in 2018
• 100% placement for 73 students within three months of graduation

Roles Offered

The roles offered included AVP – Engineering Head Marketing; AVP – Operations IT Leadership Program; AVP (Startup Incubator Program) Leadership Trainee (Market Operations); Business Consultant Principal Consultant; Business Manager / Product Manager / City Manager (BD & Operations) / Program Manager; Cluster Manager; Senior Consultant; Consultant-Strategy; Senior Manager – Consulting; GM (Operational Excellence); Senior Manager (M&A); Head Technology Vice President.

Top Recruiters

Industry-wise Breakup

Consolidated  list of offers

• Accenture Tech Strategy 7
• L&T Infotech 3
• Airbus 2
• Manipal Technologies Limited 2
• Amazon 1
• McKinsey & Company 3
• Axis Bank 1
• Microsoft 1
• Basix Sub-K iTransactions 2
• OpenText 1
• Chups 1
• PWC 1
• Deloitte 2
• Quantiphi 3
• E2Open 1
• RPG Group 2
• Ford ITLP 1
• Sapient 1
• Genpact 6
• Shell India Markets Pvt Ltd 2
• HCC 2
• SigTuple 3
• ICICI Bank ltd 1
• Sterlite 4
• Infosys Consulting 4
• Sutherland 1
• ITC Infotech 4
• Tata Elxsi 1
• KRYFS 1

Batch Profile 2019-20

• No. of Students:  75
• Male-female ratio 77:23
• Average experience 7 Years
• GMAT Score Range 650-770
• Mean GMAT score 709

Sources 1, 2, 3, 4

The Tax Research Unit of the Department of Revenue, in a circular, has clarified its position regarding grant of GST exemption to educational institutions. Till now, only the two-year full-time PGP (Post-Graduate program in management) and FPM (Fellow Program in Management) were exempted from GST at IIMB.

Tax Exemption Details

Along with EPGP, two other programs, the Post Graduate Program in Public Policy and Management (PGPPM) and the Post Graduate Program in Enterprise Management (PGPEM) are now exempt from GST.

Earlier, the EPGP, because of its ‘executive’ tag, was clubbed together with the other part-time executive programs for working professionals and denied any tax concessions. IIMB had approached the Authority for Advance Ruling (AAR) Karnataka seeking clarification and later the GST Council to rectify the anomaly.

A Times of India report quoting an IIMB spokesperson said the institute will receive a refund of Rs 4.03 crore in taxes it has already paid for 2018-19. So far, it has refunded Rs 3.93 crore to 235 students who had paid the tax along with the fees.

IIMB Director G Raghuram, welcoming the tax exemption as a positive move, however, said he would not be able to comment on whether it would lead to a reduction in the fees saying that the tax was only one component.

The EPGP Program (2019-20) fee is Rs 25,89,000 (shared accommodation) and Rs 27,24,500 (family accommodation).

The exemption, announced by the GST Council in a circular on January 1, 2019, would also benefit the one-year program students at IIM Ahmedabad, IIM Indore, IIM Lucknow and IIM Calcutta.

The Council’s decision to exempt all Degree Certificate programs at IIMs came after a prolonged struggle by the Institutes against the imposition of the GST. For instance, IIM Indore had in 2018 approached the Authority for Advance Ruling of Madhya Pradesh (AAR) seeking exemption but the request was turned down at that time. (see: https://www.oneyearmba.co.in/without-executive-tag-no-respite-18-gst-1-year-mba-programs-india/)

Revenue Department Clarification

Susanta Mishra, Technical Officer (TRU), explained the position regarding tax exemptions granted to the IIMs  In Circular No. 82/01/2019-GST, dated January 1, 2019.

He said according to the provisions of the Indian Institutes of Management Act, 2018 which came into force on January 31, 2018, all the IIMs listed in the schedule to the IIM Act are “institutions of national importance”.

They are empowered to grant degrees, diplomas, and other academic distinctions or titles, specify the criteria and process for admission to courses or programs of study and the academic content.

“Therefore, with effect from 31st January 2018, all the IIMs are “educational institutions” as defined under notification No. 12/2017-Central Tax (Rate) dated 28.06.2017 as they provide education as a part of a curriculum for obtaining a qualification recognised by law for the time being in force,” he added.

“At present, Indian Institutes of Managements are providing various long duration programs (one year or more) for which they award diploma/ degree certificate duly recommended by Board of Governors as per the power vested in them under the IIM Act, 2017.

“Therefore, it is clarified that services provided by Indian Institutes of Managements to their students- in all such long duration programs (one year or more) are exempt from levy of GST,” he added.

The circular noted that during the period from July 1, 2017, to January 30, 2018, IIMs were not covered by the definition of educational institutions as given in notification No. 12/2017 Central Tax (Rate) dated 28.06.2017. Thus, they were not entitled to exemption under Sl. No. 66 of the said notification.

However, a specific exemption was granted to three programs, namely the two-year full-time PGP, to which admissions are made on the basis of Common Admission Test (CAT) conducted by the IIMs, the Fellow Program in Management (FPM) and the 5-year Integrated Program in Management (IPM).

Therefore, for the period from 1st July 2017 to 30th January 2018, GST exemption would be available only to the three long-duration programs specified above, the circular said.

“It is further clarified that with effect from 31st January 2018, all IIMs have become eligible for exemption benefit under Sl. No. 66 of notification No. 12/2017-Central Tax (Rate) dated 28.06.2017. As such, specific exemption granted to IIMs vide Sl. No. 67 has become redundant. The same has been deleted vide notification No. 28/2018- Central Tax (Rate) dated, 31st December 2018 w.e.f. 1st January 2019.

The tax exemption will not be applicable to short-duration certificate programs for executives/professionals. These will continue to attract the standard rate of GST @18% (CGST 9% + SGST 9%), it said.

Source 1, 2

The competition had 2150 teams from 881 educational institutes and 16 companies, spanning 89 countries. The IIMB team members, Saket Dugar, Abhishek Singhal and Partha Rao, students of the 2018-19 batch of the Executive Post Graduate Program in Management (EPGP), had also bagged a sponsored trip to Spain on entering the finals, IIMB said in a press release.

In the competition, the team had to make use of an online simulator which took into account consumer behaviour in the global market. The team, as an automobile company, had to maximize profits in this simulator.

Describing the contest, Partha Rao said, “The competition consisted of an online simulator in which we had to participate as an automobile company and maximize our profits in three markets – North America, Northern Europe and Southern Europe. We made it to the semi-finals, competing with six other teams to enter the finals held in Madrid in December 2018.”

The EPGP is an intensive one-year, full-time program designed to enhance skills and capabilities essential for responsible positions at senior management levels.

The IIMB team reached Spain on December 10, after which they had to give a presentation on the executive decisions taken in the semi-finals. The team decided that they were going to present as CEOs and not as competitors and the presentations were made the next day.

As the IIMB team was ‘Grupo Uno’ or Group One, it was the first team to make the presentation in front of a panel of C-level executives and professors. The interactive presentation was followed by a short interview with a local Spanish newspaper.

The EPGP is an intensive one-year, full-time program designed to enhance skills and capabilities essential for responsible positions at senior management levels. Challenging and globally oriented, its objective is to produce future leaders who can handle the dynamic corporate environment.

Gautam was delivering a talk on ‘Indian Auto Industry and Ford’s Learnings’ as part of iKON CxO Guest Lecture series, an initiative of EPGP, the 1-Year Full Time Post Graduate Program in Management at IIM Indore on August 14.

Referring to the EPGP program’s focus on Data analytics skills, with five weeks of international immersion at McCombs School of Business, University of Texas, Austin, he also elaborated the high relevance of big data and data analytics in devising the marketing strategy in the overall business scenario.

The Sanand Vehicle Assembly and Engine Plant (SVAEP) is spread over 460 acres comprising Stamping, Vehicle Operations, Engine Plant, Service Parts Production.

Gautam spoke about Ford’s journey from introducing the first moving assembly line to assemble the Model T, a pioneer in hardtop convertibles and the growing presence of Ford in the Indian automobile market.

He went on to take inputs from the participants on the factors influencing the automobile market in the Indian context. The participants were quick to point out the important factors for Indian consumers such as value for money, greater presence across automobile segments, availability of spare parts and resale value.

Gautam then elaborated on Ford’s strategy in ensuring value delivery at the service centres through strict monitoring of dealerships. In order to gain a presence in the Indian automobile market, the manufacturing operations were shifted to India– Chennai in Tamil Nadu (the exporting unit of Ford Ecosport to North America) and Sanand in Gujarat.

Ford’s Chennai Vehicle Assembly and Engine Plant (CVAEP), spread over 350 acres, has an integrated manufacturing facility, with an annual production capacity of 200,000 vehicles and 340,000 engines. Set up with an investment of more than US$1 billion, it manufactures Ford EcoSport and Ford Endeavour and exports products to more than 37 countries across the world.

The Sanand Vehicle Assembly and Engine Plant (SVAEP) is spread over 460 acres comprising Stamping, Vehicle Operations, Engine Plant, Service Parts Production. It has an installed production capacity of 240,000 vehicles and 270,000 engines per annum and manufactures compact sedan Ford Aspire and hatchback Next-Gen Ford Figo.

The session concluded with an interactive Q&A with the participants.