What this guide is for
If you’re comparing campuses from placement screenshots, here’s what matters. Placement PDFs are the primary evidence behind IIM shortlists. Aggregator graphics and Telegram highest-CTC posts are not. This page teaches you how to audit a report in under thirty minutes so fee and role decisions stay honest.
Pair it with the MEP glossary, the fees and ROI framework, and campus reviews. Use the ROI calculator only after you know which definition you typed in.
Data as of: September 2026. Definitions and tables change every batch year. Re-open the live institute PDF before you accept.
The five questions every PDF must answer
- What is being measured? MEP, CTC, fixed cash, domestic only, or something else?
- Where is the centre? Median, mean, or only top-slice averages?
- Who is in the batch? Programme name, batch size, and whether dual degrees are pooled.
- What roles actually placed? Sector or function tables, not only “highest package.”
- What is excluded? Deferred offers, international rows, PPOs counted twice, unpaid leaves.
If a report cannot answer those five, treat opacity as a risk signal. Prefer clearer peers when fees are similar.
Step 1: Find the definition footnote
Open the report PDF and search for definition language before you touch any number.
| Label | Typical meaning | How to use it |
|---|---|---|
| MEP | Cash-leaning earning potential (IIMA’s IPRS framing is the clearest public example) | Best for payback modelling when footnotes are explicit |
| CTC | Cost to company; may include variable pay, joining bonus, ESOP marks | Haircut before EMI math; do not treat as in-hand |
| Fixed / base | Closer to year-one cash when disclosed | Prefer for loan math when you run the numbers |
| Average package | Mean of whatever definition the campus chose | Easy to inflate; pair with median |
Worked example: IIM Ahmedabad. Class of 2025 communication under IPRS cites mean MEP ₹35.50 LPA and median MEP ₹34.59 LPA, and explicitly contrasts MEP with CTC framing (IIMA IPRS note). Use that page’s PDF gallery for the audited file. Full campus context: Ahmedabad review and Ahmedabad placements.
Worked example: IIM Bangalore. The CDS Placement Report publishes median and average figures for PGP+PGPBA together in recent cycles (median ₹34.75 LPA and average ₹35.35 LPA in the 2026 report framing we cite in the Bangalore review). Extract fixed versus variable if the PDF splits them. Do not paste Bangalore’s median next to Ahmedabad’s MEP and call the gap “₹0.16 LPA.”
Worked example: IIM Mumbai. The Batch of 2024 final report leans on top-slice averages (top 50% average CTC ₹33.84 LPA) plus highest CTC. That is useful signal and a different construct from a full-batch median. Label the cell “top-50% avg CTC,” not “median.”
Step 2: Prefer medians, then run the numbers lower
Averages are pulled by a few high offers. Medians sit closer to the middle of the class.
Practical rules:
- Prefer median when both median and mean appear.
- If only a mean appears, assume the true middle is lower unless the distribution is published.
- If only top 10% / top 50% averages appear, treat them as ceiling context, not planning salary.
- Run the numbers on EMI at 20% below your chosen centre before you borrow.
Step 3: Read sector and function tables
Headlines do not hire you. Function mix does.
| What you want | What to look for | Common trap |
|---|---|---|
| Consulting | Consulting / strategy share and firm lists | Counting “analytics consulting” as MBB |
| Finance / IB / markets | Finance vs BFSI labels; IB rows if any | Treating all BFSI as investment banking |
| Product / tech GM | Product, IT, e-commerce, digital | Assuming Bengaluru hearsay without a row |
| Operations / supply chain | Ops, logistics, manufacturing, SCM | Ignoring Mumbai’s ops heritage when brand-chasing BLACKI |
For role shortlists, start from best for consulting, best for finance, best for product, and best for operations.
Step 4: Check batch construction
Ask:
- Is this PGP only, or PGP + another programme pooled?
- Are lateral hires or deferred joins separated?
- Are international offers in a separate table?
- Are summer PPOs counted in finals without double-counting clarity?
Pooled reports can hide programme-specific weakness. If you are joining one programme, prefer programme-level tables when they exist.
Step 5: Build a comparable spreadsheet
Columns we recommend:
| Column | Rule |
|---|---|
| Campus | Official short name |
| Report year / batch | Exact label from PDF cover |
| Definition | MEP / CTC / fixed / top-slice (never blank) |
| Median | Number or “not disclosed” |
| Mean | Number or “not disclosed” |
| Fee circular | Batch-year programme fee |
| Sector note | One line for the kind of job you want |
| Source URL | Primary PDF only |
Never mix definition families in a single “package” column. Method detail: fees and ROI. Campus fee anchors live on the annual fee and payback sheet.
Annotated reading order (30 minutes)
- Cover and batch label (2 min): confirm programme and year.
- Definitions page or footnote (5 min): write the definition in your sheet.
- Summary salary table (5 min): median, mean, highest (ignore highest for planning).
- Sector / function table (8 min): match your role sentence.
- Recruiter list if published (5 min): density, not logo tourism.
- Fee circular in a second tab (5 min): same batch year only.
Then open the matching review for editorial judgment. The PDF is evidence; the review is the recommendation layer.
Common traps
- Mixing Ahmedabad MEP with another campus’s average CTC in one cell.
- Planning life on highest CTC.
- Treating “100% placement” marketing as role quality.
- Updating fees to a new circular while keeping last year’s salary definition.
- Assuming new and baby IIMs are “unsafe” without reading the PDF, or assuming old IIMs are “safe” when disclosure is vague.
- Using summer averages as finals proxies without checking finals separately.
How we use reports in iimHQ reviews
We prefer audited or IPRS-style disclosures, cite dataAsOf, and score placement evidence inside the methodology. Verdicts still belong to editorial judgment. A clear PDF can support a strong score; it does not invent fit for your household.
Where to go next
- Definition: MEP glossary
- Money model: fees and ROI · ROI calculator
- Shortlist process: how to shortlist IIMs
- Offer week: accept or decline an IIM offer
Frequently asked questions
Is MEP always better than CTC?
MEP is clearer when the institute defines it well. It is not automatically higher or lower than CTC. Compare like with like.
What if two campuses use different definitions?
Keep two columns. Convert only when both footnotes let you isolate fixed cash. Otherwise compare ranks inside each definition family and decide on role fit and fee risk.
Can I trust brochure “average package” tiles on the homepage?
Only after you find the matching PDF table. Homepage tiles omit footnotes.
If you’re reading placement PDFs side by side, here’s what matters. ### Do new IIMs hide bad numbers?
Some disclose carefully (for example IPRS-style reports at campuses such as IIM Udaipur). Judge the PDF, not the generation label. See old vs new IIMs.
How should I read the placement PDF step by step?
Write the report year, definition (CTC/MEP/fixed), median, average, and your target function’s row. Ignore highest-package lines for budgeting. Walkthrough: how to read IIM placement reports.
Should I plan on median or average CTC?
Prefer median. Averages rise when a thin right tail of high offers exists. For personal EMI math, also haircut toward fixed cash if the PDF only shows CTC.
Do summer internships and PPOs matter for finals?
If you’re comparing campuses from placement screenshots, here’s what matters. Yes. A strong summer can convert to a PPO and shrink finals stress, but PPO rates and stipend tables vary by year and function. Read summer and finals sections as related, not interchangeable.
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