Clarification regarding article in Economic Times dated 22-2-2010

Following the article in Economic Times dated 22nd February 2010 mentioning that an offer in excess of Rs. 1.44 Crores has been made by a firm, we would like to clarify in interest of the entire community that this is incorrect. Also, converting dollar salaries to rupee terms does not portray the correct picture and hence we provide the average dollar salary separately in our press releases.

We felt compelled to communicate this clarification because we believe it has the potential of driving aspiring students into making misinformed decisions and also gives incorrect signals about the economy.

IIMA over the last few years has chosen not to disclose the highest salary offered as we believe salaries are just one component of the jobs offered and also because the highest salary is in no way representative of the recruitment scenario. We understand that placements at IIMA are regularly followed and expected to provide cues to the overall economic scenario to a certain extent and hence we do make public average salaries offered at the end of the placement process.

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25 thoughts on “Clarification regarding article in Economic Times dated 22-2-2010

  1. If the information is incorrect, why was it printed? Also, I agree with Partha.. IIMA should contact ET and ask them to write a clarification in the newspaper..

  2. Shouldn’t the clarification be published the way the original ‘incorrect’ news was published on the front page of ET? I can still see the news in ET under the ‘Most popular features’ heading.

    Is it justified?

    Isn’t it the responsibility of the institute to help media correct their mistake?

    • The institute’s responsibility lies in giving out correct factual information about the placements. When ET or other newspaper concocts figures and data out of thin air, there is very limited way in which IIMA community would come to know of it before it gets printed to stop it, or take it down from their website.

      The clarification should be published by ET in their own way – IIMA has provided it by posting it publicly – they follow such info of our diligently, but there is very little chance that they will retract news they “so proudly” and wrongly published on their front page.

    • It is, but had ET been ready to cooperate and rationalise, they would have verified such sensitive statements themselves with the institute’s media cell first.

      And I am sure that the paper has been told to take corrective action. (But all in vain)

  3. This is a figure which was quoted last year by ET. So essentially in the article they write that DB broke the limit. They dont know by how much or even if DB did. It was pure speculation on their part.

  4. Data should be published after thorough verification only. This kind of misleading messages gives a wrong signals to the student community.

  5. It is the responsibility of the institute to correct media. Rather it is the responsibility of the media to print accurate information after confirmation.

  6. The clarification helped. But it would be much better if the clarification too is published in ET . This would then be a lesson for the newspaper who publish without proper investigation and would also help in dissemination of this important information.

  7. Publishing errata on blog helps little.Either IIMA blog should extend its scope and focus on publishing correct info as institute’s mouthpiece or straight away depend upon direct press release.

  8. See lets not start a GD over here, you guys are making counter arguments as if its going to quell the minds which hav already been mislead. As a mba grad probably I understand that these news should not matter much but for aspiring candidates its a big problem. As it is we know the efficiency of our system, just look at how the average figures, profiles offered, bschool rankings are concocted. This leads to a blind race which all of us have been a part of. So try to take this in a positive way that u guys can definitely force ET to publish a corrective article after all u r IIMA, the best in the country, plz show it. This blog is just not the right place.

  9. The last year, a few newspapers went into a phase where they tried every possible options to hurt the image of IIM-A by writing articles that had the possibilities of putting IIM-A in not so much a favorable position. It actually raised many questions in the mind of unacquainted people, especially when IIM-C and IIM-B were fudging numbers. The reason being that they weren’t given access to placement statistics until the season was over.

    Media can’t be stopped from writing whatever articles they want to if not IIM-A decides to take up such an issue (the article in the ET) seriously. For once at least.

  10. I am sure none of the 3 prestigious IIMs would be fudging their numbers. There are responsible people managing media relations at these institutes and the student community actively monitors the publicity.

    Having said that, there are numerous instances when media extrapolates information given to them by any institute, much to the surprise of the institute itself. And, about bringing the issue to the notice of the media agency concerned, a small corrigendum in some section of the newspaper is of no real help.

    @Partha: Any facts to support your statement that IIM-C and IIM-B were actually fudging nos. last year and they were not cases of media enthusiasm overdrive!

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  12. Only trust the official press release of the institutes. Do not believe any randon news in any random news paper.

    The new cohort based system at A leaves little gap for comparision, in my opinion.
    The process is very different from the slot based system, if looked at from a students perspective.

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  14. Pingback: IIM-A denies Rs 1.44 cr salary offer

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