How honest are the non-IIM MBA colleges (SPJIMR, NMIMS, SIBM, XLRI) when they say their average package is 12-15L?

The placement reports of major non-IIM MBA colleges like SPJIMR, NMIMS, SIBM, XLRI, etc. are audited on a regular basis which makes claims to its validity. To get an idea of the actual package only consider the fixed component and no other incentives for calculation.

SPJIMR: It publishes the report in IPRS format, which has a different way of reporting salaries rather than the typical average/median CTC method. The auditing is done annually for every report and is checked to the second last decimal mentioned in the figure. In 2019 placement statistics more than 72% of the batch got a placement package of 20 LPA or more. The average placement package was 22.90 LPA.

XLRI: The range of placement packages lies between 40-10 LPA with the median around 14-15. Some statistics like 25 LPA for the first 10% is a bit misleading as people miss the statistics for the remaining 90%. But overall, the placement at XLRI is good. This year 100% of students got placed from 2018-20 batch with average salary package 24.30 LPA.

NMIMS: The lack of proper auditing and instances of high inflation of figures in the reports compared to the values given by NIRF figures makes it harder to trust the average value given.

SIBM: The placement reports are not only audited but this institute mentions the highest package accepted, highest package rejected, mean, median, and other detailed statistics about their placement numbers. This makes the statistics given more authentic.

So, rather than worrying about the average package, be aware of how CTC is calculated by companies and the kind of incentives along with it to figure out the real placement package offered by these institutes.