The Spring Of '66

These are people who never saw starting salaries that now go into lakhs. They weren’t sought after by top-notch corporates. They probably never thought their institutions would be ranked among the world’s best B-schools. In fact, over their careers, they witnessed the transformation of their schools—from makeshift classrooms, borrowed hostels into recognised brands.

Outlook spoke to a few of the first batchers, now nearing the end of their careers, to find out what they feel about their experiences in IIMs and how it helped them. Says an emotional Sudas Roy, professor (marketing), IIM-c, who was among the first graduates from the same school, "The infrastructure was basic and the building infested with mosquitoes. We didn’t even have proven reading material. But given a choice, I would relive it all."

Roy sat for the seven-hour entrance examination in 1963 despite his family insisting that he join the ias, a dream nurtured by most middle-class parents of the time. But he got attracted to IIM after seeing an advertisement stating its association with several US B-schools. Forty years later, he has no regrets. Says Roy: "If I hadn’t been there, I would be a different person. I owe everything to IIM-C." After graduating in 1966, he joined the DCM group in Delhi. However, he couldn’t adjust to the prevailing corporate culture in family-owned companies and quit in 1969. He then got into academics, joining the Xavier Labour Research Institute (XLRI) in Jamshedpur as assistant professor, where he stayed till 1980 before joining IIM-C. At 59, and close to retirement, Roy feels he has enough expertise to forward the cause of management education in India.

The story of Dilip G. Shah, IIM-A first-batcher, who also graduated in 1966, is somewhat different. Dilip, and his wife Smita (IIM-A second batch), are probably the IIM’s first couple. And fittingly enough, 25 years later, their son too entered the portals of their alma mater. Reminisces Dilip: "When I went there, I had no clue what was in store. My classmates were industry people with 5-10 years of working experience. Others had graduated from iits and were exceptionally bright. With my background in English literature, and being weak in maths, it was difficult initially."

Prior to IIM, Dilip was looking at a career in journalism and even did a vacation stint in the field. But, like Roy, the IIM bug bit him after he came to know about IIM-A’s alliance with Harvard. In 1966, he was promptly recruited by pharma major Pfizer. An interlude in Warner Hindustan (1977-78) later, he returned to Pfizer where he stayed on till 1997. He now runs his own company, Vision Consulting, and is associated with the pharma industry as the secretary general of the Indian Pharmaceutical Alliance.

Although Smita too got attracted to IIM-A because of the Harvard connection, her entry wasn’t easy. Her admission interview in 1965 was awkward. One interviewer asked whether she was wasting an MBA seat that could go to a more serious, career-minded male? She retorted by asking why women too couldn’t make a career of their own. With a B.Com degree, and having set her sights on the London School of Economics, she gave the IIM a try only when cajoled by her brothers. Says Smita, "IIM changed my way of thinking. I wasn’t from a business family, but the institute prepared me for business life. It also taught me that there were no short-cuts to success. " In 1973, Smita set up a packaging business and secured clients like Colgate, Ciba, Hindustan Lever, apart from many pharma companies.

Geeta Athreya

It’s actually surprising that although these professionals walked into an arena—Indian business of the 1960s—where loyalty mattered more than merit, many did manage to adjust to the new corporate realities. Probably that’s where the IIMs then, as also now, score over other schools. They prepare their students better. Agrees Geeta Athreya, IIM-C third-batcher: "When we were management students, conditions were adverse. It wasn’t quite well-known as a profession and the IIMs were still settling down." But Athreya, who worked for Citibank and Glaxo, blended well. She eventually joined Unicef where she has worked on social projects.

Subhash Sabharwal

For Subhash Sabharwal, Athreya’s classmate, the going was similar. Says he: "It wasn’t an elite group then and there was a bias against MBAs as all important corporate decision-makers were non-MBAs. You had to sell yourself as an MBA." Sabharwal, who joined Madura Coats (then j&p Coats), became the first IIM man to rise to ceo of a professional-run firm, Jenson & Nicholson. He now owns two firms, Resource Management and Links Telecom, which provide professional management services.

Even then, it wasn’t easy graduating out of IIMs. For example, studying at IIMs, even in the 1960s, was not cheap. Says Shah: "We paid around Rs 3,000-3,500 as fees and that was quite a bit in those days." In today’s denomination, its value would be in lakhs. But there were some scholarships to shield students from this burden. As Athreya puts it, "I got a princely scholarship of Rs 50 per month which covered a part of my tuition fees and reduced the overall burden." Against this, the salary level of fresh IIMs was nowhere near the commanding heights it has gone to now. Beginners like Shah and Roy started at around Rs 600 a month. But then in those days, it meant a lot. Says Roy: "From that, I used to send Rs 200 to my mother after living well in Delhi."

The times have changed and so have the education and the remuneration. But for the group which was present at the beginning of the IIM movement, there is no life beyond the IIMs. As Smita rightly puts it, "You are born again at IIMs. It lets you know how competitive the world is." Today’s graduates would agree.