@chi29 - and @Everyone else interested in knowing more about IGTC (Mumbai)
The economic downturn has hit all the industries badly and it's also in the news that most of the B-Schools are facing this problem.
Please note one thing, THERE IS NO PROBLEM OF PLACING THE STUDENTS as such at IGTC. We have just completed our course a few days back and more than 70% of the class is placed. And mind you, all of us have been placed with good companies (with a decent package). Also, freshers are not facing any problem in particular like you mentioned.
Infact, some of the frehers got placed before the experienced ones. EVEN I AM A FRESHER and I got placed a month before we completed the course.
Talking about your friend; there are a few companies here wherein you have to relocate during your training stints or/and for your placement. BUT THIS IS VERY WELL COMMUNICATED DURING THE INTERVIEW PROCESS. But, as far as Mumbai campus is considered, more than 60-70% of the candidates train with Mumbai based companies. Also, most of the candidates who have to relocate, either have to go to Pune/Nasik/Bangalore (in most of the cases) there could be companies having other locations also.
Coming to accommodation and other expenses during the training stints. The trainees get a stipend (which I agree is not enough to manage all expenses) but it does help. As far as my case is concerned, I did not have to shell a lot of money from my own pocket. Also, the stipend is more for candidates who have to relocate.
Well, considering the case of your friend who did not get a placement with her training company, please try to understand a couple of things.
There are some companies who immediately hire the trainee after the 3rd training stint while there are other companies who come for the final interview process again to the campus for final placements.
Hence, its obvious that you have to prove yourself again during the interviews. So this is just like a normal placement process at any other college. IGTC does not claim that you will be definitely placed with the company where you train. This highly depends on your performance and your interview. I am very sure something might have gone wrong somewhere in your friend's case.
About the course (PGPBA)
As you have rightly mentioned, IGTC does not give an MBA Degree or a Diploma. But, the certifications that we get viz Post Graduate Programme in Business Administration (PGPBA) and Industrial Manager (German Qualification) is highly recognized in the industry. The companies that come for hiring trainees and for placements consider this certification equivalent to an MBA/PGDM (I have confirmed this with the HR of the organizations)
FYI, even ISB (Indian School of Business), Hyderabad and the IIMs DO NOT give a Degree or Diploma, there courses are also termed as PGPs β Post Graduate Programmes. (NO INTENTIONS OF COMPARING THE INSTITUTES, NAME MENTIONED ONLY TO PRESENT FACTS)
Placement Scenario
Last year the placement scenario was definitely better (for all the B-Schools including IGTC ofcourse), this year also its okay and not that bad. As I have mentioned before, we have just completed our course a few days back and more than 70% of the class is placed with good companies (with a decent package).
It's a myth that the placement scenario is greatly impacted by the European economy. There is a global economic slowdown and may companies are hit by this. This year also, many of the renowned german companies in India have absorbed candidates in different fucntions (freshers as well).
There are a couple of companies who have absorbed more than 3 candidates (And I am talking about big companies)
So you definitely cannot say that 'THE PLACEMENTS WOULD BE BAD TILL THE EUROPEAN ECONOMY COMES UP'.
Ultimately every candidate has to understand and realize what is best for him/her and take decisions accordingly.
Wish you guys all the very best. J
Finally, I respect your opinions also; I did not mean any offence. I am just trying to put my thoughts, which are based on facts. I have been a part of this institute and I can definitely vouch for whatever I am saying.
Feel free to PM me for any other doubts/queries.. :)