BANGALORE: IIT’s and IIM’s are seen as the premier institutes for higher education in India, and most multinational companies recruit talent from these colleges.

Majority of these companies are successful, and using its hiring strategy for notoriety, this trend however, has created an invisible caste system in these companies.

Today, it is no longer the case as companies ranging from FMCGs, telecom companies, consumer, financial services and technology companies, and start-ups too recruit heavily from other colleges.

Also, the multinationals have lost their first right of refusal over IIT and IIM candidates, as Indian companies and startups are seen as just as, if not more, attractive as a long-term career destinations.

While these institutes have contributed significantly to the Indian economy, the IIT-IIM glamour peaked in the mid-2000s and now their influence is waning. This is due to India’s explosive growth in the 1990’s and the supply of talent from these institutes just could not keep up with the demand.

Other management and engineering schools also started making an impact around this time, causing companies to widen the net and look for talent in non-tier 1 colleges.

The other criticism regarding IITs and IIMs is that these institutes produced people of the same mould. This worked well in the past as businesses were predictable, but in the age of disruptive business practices, creative minds with different perspectives are needed.

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