However, since each business school brings out its own placement report, how can these be used accurately to attract students and employers? How can they help students make a well-informed choice, resulting in more realistic expectations when they join?
Standardisation becomes key to make the reports transparent, comparable and reliable. The Indian Placement Reporting Standards framework specifies the format in which the statistics are to be reported across function, sector, and location. The standards require the placement data to be audited by an independent auditor such as CRISIL, which offers this service under the Business School Grading initiative.
CRISIL validates the information in the placement report with respect to remuneration, job function and location of the placement through communication received from recruiters
We ensure the data is presented in alignment with the Indian Placement Reporting Standards
The aggregate statistics include minimum, maximum, median and average salaries across parameter
The Placement Data Audit is an effort to work towards greater transparency in the field of management education and in line with CRISIL's aim to play an integral role in India's human skill development agenda
Provides assurance to students and recruiters about the quality of education
Offers established benchmarks with other programmes
Enables identification of best practices and an analysis of strengths that can help you differentiate your programme and work on weaknesses
Helps students and employers to identify a better-quality programmes
Increases acceptance from recruiters given the audit is conducted by CRISIL, a well-established and respected name among India's corporates
Adds to the credibility of the institute
Showcases transparency in business school operations for funding or towards student bank loans