Placement Report Audits
Transparency is the Key
CRISIL is the auditor for SPJIMR placement reports and plays a key role in the release of the SPJIMR report by checking the
data with actual offer letters and ensuring the presentation of the data is in alignment with the Indian Placement Reporting
Standards (IPRS).
CRISIL's audit process involves validating the information in the placement report shared by SPJIMR with respect to
remuneration, job function and location of the placement, through communication received from recruiters. The audit
exercise covers robust data set of the placements made through the Institute. This enables the arrival of an accurate median
salary amount which candidates would have garnered through the placements.
SPJIMR is the second institute in India to have published CRISIL-audited placement related information under the IPRS, an
initiative pioneered by the Indian Institute of Management Ahmedabad (IIM-A) in September 2011. IPRS is a framework
aimed at standardizing reporting of placement statistics and is freely available in the public domain for voluntary adoption
by other business schools.
IPRS specifies the standard format in which the aggregate statistics will be reported across function, sector, and location. The
aggregate statistics to be published include minimum, maximum, median and average salaries across every parameter. The
framework envisages a clear demarcation of performance linked compensation from fixed salary, thus enabling a more
realistic understanding of compensation offered on campus. The standards also require that employment data be audited
by an independent auditor.
“We believe that following the IPRS represents an important
transition within the Indian management education sector. It changes
the evaluation metrics of management education from the excessively
focused 'highest salary paid' to a more realistic understanding based
on comprehensive compensation data covering a large proportion of
the batch. The extent and quality of the data, therefore, is critical to
reliability of the report. CRISIL is pleased to be associated with this
initiative of SPJIMR.”
- Akash Deep Jyoti, Head, CRISIL Ratings
“The IPRS initiative would only enhance transparency within the
placement process if institutes and recruiters present 100% data for
audit. It is very crucial for audit agencies to verify whether all the
students are placed or not and capture this in their report. Hence,
acknowledging its proven credibility and independent stance,
CRISIL has been chosen as the auditor for our placement report.”
- Dr. M.L. Shrikant, Dean, SPJIMR
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