Top MBA Colleges in India
While cracking the CAT exam is the first step towards your goal of getting into one of the most prestigious B-schools in India, one of the most critical decisions you will have to make is about choosing the right school for you. While one ranks higher, the other has a better placement record. While getting the MBA degree in one is easier on your pocket, the other gives you the right exposure to their vast network of influential people. So, whether it is a career building, progression, or knowledge, your path to the goal through one of these institutions is far less bumpy and far more fruitful. Here’s a snapshot of the top MBA Colleges in India and what they offer for you.
1. Indian Institute of Management, Ahmedabad:
Course: While the first year ensures you are up-to-date with the barebones of the business management to ensure a common foundation for all, the second year allows you to focus on the subject of choice through independent studies, exchange programs, and intensive field courses.
Operations and International Business are amongst the most chosen specializations in this School. This institute has been ranked #29 by Financial Times in the Global MBA Rankings for the year 2017 and it is # 1 as per the National Institutional Ranking Framework.
The fees for the two-year PGP program is approx. 15 lakhs. Students are admitted based on a combination of their CAT (Common Admission Test) scores, personal interviews, and past academic performances
Student Composition: While a majority of the class (94%) come from engineering backgrounds, 25% of them are fresh graduates and 29% of them have about 1-2 years of work experience. The average GMAT score is 706 and IIM-A also look for good Analytical Writing Analysis (AWA) scores – a minimum of 3.5.
Recruiters: Having moved to a cohort-based system, the recruiters are able to evaluate the students for a longer duration ensuring that the students are a right fit for the positions being offered.
The major players in the recruitment of the top performers in IIMA have always been the Management Consulting Firms, Asset Management Companies, and Private Equity Firms. Accenture walked away as the top recruiter for the 2017 Summer Placements by making as many as 17 offers.
Amongst the banking sector, FinIQ made 10 offers, Amazon and Microsoft offered 12 and 5 offers each. Not to be left behind, several consulting firms such as Accenture Strategy, AT Kearney, Bain & Co., Deloitte USI, McKinsey & Co, and The Boston Consulting Group also recruited students.
Alumni: With a long list of illustrious leaders and innovative entrepreneurs, the alumni continue to support and stay involved in keeping the course relevant in today’s changing world.
Confluence is an example of one of the many platforms created by the institution that seeks to bring together budding entrepreneurs and industry leaders.
2. Indian Institute of Management, Calcutta
Course Specialization: Financial Times has ranked IIM C # 95 in the Global MBA ranking for the year 2017. While there are several specializations offered in this institute, finance is considered to be the most popular specialization.
The fees for the two-year PGP program at this institute can set you back by about 19 lakhs. No financial aid is provided by the institute itself and student loans through financial institutions are what is recommended.
Apart from this, you can apply for several merit-based and need-based scholarships initiated by organizations.
Student Composition: With a batch size of 68 students, the class of 2017 comprised of students who had about 7-8 years’ work experience (average), 40% of them come with international experience.
The average GMAT score of the students in this batch was 701 and what is significant is that 91% of the batch consists of engineers.
While 30% of them have industry experience in the IT sector, the second highest percentage at 25% belongs to those with an experience in the Energy/Power sector.
Recruiters: The graduates of IIM Kolkata are helped by several mentorship programs conducted by seniors who guide them through the process of preparing for Summer Internships.
The career development and placement department of IIMC take care of the final placements in several functions across industries. When the process concluded for the year 2017, the top domestic pay package stood at 70 lakhs per annum and the international pay package stood at 87 lakhs per annum.
This solidifies the faith that top recruiters put in the talent pool of the institute. The top recruiters were Edelweiss, Goldman Sachs, BCG, Bain, Mc Kinsey, ITC, Birla, Amazon, and Wipro amongst many others.
Alumni: With a 15,000 plus strong network, the alumni which have several eminent personalities such as Indra Nooyi (CEO of PepsiCo) and Amish Tripathi (Author) meets and is constantly involved with the institution and its curriculum. Their inputs and advice help in keeping the course innovative and relevant.
3. Indian Institute of Management, Bengaluru:
Course Specialization: Just like the other IIM’s your selection for the course will be based on your CAT scores and performance in the personal interviews conducted by the institute.
The Financial Times has ranked IIM B #45 in the Global MBA Ranking for the year 2017. In India though, this institution ranks No. 2 this year as per the National Institutional Ranking Framework. While several specializations are offered for students through their second year in the MBA program, a focus on operations seems to be more popular amongst the students.
With several International Student Exchange Programs conducted as part of the program, over 40% of the students get to experience studying at a partner institute overseas. The overall course fees range between 18-19 lakhs.
Student Composition: With a batch size of 407, most of the students who gain admission come from the engineering background (362 students). While about a 100 of them come with 1-2 years of work experience, you will find that the majority of the students fall in the age group of 23-25.
Recruiters and Pay: The IIM B campus saw 100% placements this year with all 401 recruited by over 130 companies. Overall there were 90 offers made in Strategic consulting by companies such as Accenture, Bain and Company, Deloitte and Mc Kinsey amongst many others.
E-commerce and technology made about 55 offers while around 35 roles were offered in leadership and management roles by both international and domestic companies.
As regards the pay packages, 13 graduates were offered international roles and the average salary rose to about 53 lakhs per annum. While on the home front, the average salary offered was around 21 lakhs per annum.
Alumni: IIM B is on a mission to fine-tune its curriculum to better suit the needs of India Inc and this tweaking is being done with the help of a committee that works with several members of the alumni as well.
Their recommendations have made several successful changes in the curriculum which have proved to be very helpful for the students.
4. Indian Institute of Management, Lucknow:
Course: Ranked 5th amongst management schools in India by the National Institutional Ranking Framework, this school offers the traditional two-year MBA program and a one-year executive program MBA program as well.
The admissions follow the format used by the other Institutes which is the CAT scores, group discussions, and the personal interviews. The fees for the entire program comes up to about 12 lakhs.
It, however, remains much behind the top three IIM’s (Ahmedabad, Bangalore, and Calcutta. The table below gives you a fair idea of how the fees compare with the other IIM’s
|B-School||Fee Structure||Average Placement||RoI (investment recovery period)|
|(Rs. in lakhs)||(Rs. in lakhs per year)|
|IIM Ahmedabad||22.14 (2016 IPRS)||Less than 1 year|
|Year – 2016||19.5|
|Year – 2017||21|
|IIM Bangalore||21.03||Less than 1 year|
|Year – 2016||18.7|
|Year – 2017||19.5|
|IIM Calcutta||19||22.00||Less than 1 year|
|IIM Indore||13||16.23||Less than 1 year|
|IIM Kozhikode||16||17.1||Less than 1 year|
Recruiters and pay: IIM L saw all their graduates in the 2017 batch finding employment. So, 435 students were placed amongst the 170 international and domestic companies that fought for the some of the brightest and best students.
Some of the top recruiters across different sectors were Accenture, Aditya Birla Group, Amazon, Avendus, Goldman Sachs, Hindustan Unilever, McKinsey & Company, TAS and The Boston Consulting Group.
The roles offered were split up as sales and marketing (26%), finance (23%), consulting (22%), e-commerce (8%), systems/IT (12%) and general management (9%).
Alumni: The alumni seek to engage and stay connected with their alma mater through mentoring programs, remote interaction programs, and the online CV review programs. Through these programs, they contribute and help the budding entrepreneurs or job-seekers with vital inputs.
5. Indian School of Business, Hyderabad:
Course Specialization: Indian School of Business is a private business school which aims to provide several management programs and their popular course is the PGP in Management, which is a one-year program focused to help working professionals enhance their careers.
They offer several specializations such as Entrepreneurship, Finance and Strategy/Leadership amongst many others.
They offer inter-campus exchanges, practicum courses and international exchanges to enhance the learning experience. The fees for this course amounts to 18 lakhs approx. (tuition and living expenses)
Student Composition: 604 students have enrolled in their Hyderabad branch as far as the class of 2018 is concerned and 31% of them are women.
The average age of the group of students is 26 and the average GMAT score is 705. It is not impossible to get admitted into ISB with a lower GMAT score. Take, for instance, Ankit Nanda who was admitted into ISB’s MBA program with a score of 660.
An engineering background, diligent planning, sharp execution and showcasing his best experience with the help of Gyanone helped him to accomplish what many would consider impossible!
Recruiters and Pay: ISB has in the past couple of years has facilitated dramatic careers shifts, initiated the trend of lateral placements in India, and secured leadership positions for women.
With successful placements of the class of 2017, the average domestic pay that has been offered is approx. 20 Lakhs and more 1000 offers made to the graduating students from the Hyderabad and the Mohali centers.
Alumni: With over 8,000 members, the alumni from ISB are placed in several positions and countries around the world. The Special Interest Groups (people belonging to a similar industry or function) work to create the right platform to learn, network, and exchange knowledge.
For instance, the ISB for Good’ is a Special Interest Group that has been created to bring together alumni social entrepreneurs/alumni working in the social impact sector.
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