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School Hunting
In principle, one should strive for the best B schools. But each of us has to be realistic. If you think you have it in you and didn't try hard enough, sure. Give CAT one more shot. Suppose you settle for one of the lower ranked schools, I would evaluate such a school by its placement record. Period. And I would not rely on websites or magazines (including JAM!) but actually visit the campus (even if it is in another city) and speak to 10-15 current students. Persist a bit, you will get the real picture and genuine advice.
There has been a sea change in the level of opportunity over the last decade. When I passed out in 1993, McKinsey picking up 4 students at Rs 6 lakhs salary at IIM-A was big news. The avg salary could not have been more than Rs 2.5-3 lakhs and there were no foreign placements. Today, these figures will evoke laughter. The economy now supports several tiers of B schools catering to different sets of recruiters. Less glamorous companies offering less glamorous salaries will visit many of the campuses which rank between 15-30 in the surveys. Their offers are very good, for 22 -24 year olds with no prior experience. The trick lies is in scaling down your expectations. Just because the IIMs average salaries of Rs 6 lakhs plus and your institute has a figure 1/3rd that, what you're getting seems to pales in comparison. But you know what? Even the guy with Rs 6.2 lakhs in IIM A is probably unhappy because he didn't get one of the 36 coveted dollar placements of 2003!
However, do not ABANDON expectation. If an MBA school is merely leading you into a call center job (that IS the case at many!) it is a GIANT waste of time money. Because the call center job can be had even without the MBA. Lastly, there seems to be a growing breed of students who do an MBA because they just need to do SOME post grad degree. It's chic for grooms to demand "MBA girls", like they once asked for MAs! I guess these students are the real reason why MBA institutes are sprouting at every street corner! (no exaggeration: one has just sprung up on the 3rd floor of the Apna Bazaar in my locality). The key thing is "know thyself and thy institute". Happy B school hunting!
Placements 2003
(Institutes ranked in decreasing order of median salary offered). All of these claim to have 100% placements.
|
Domestic Salary Offered (Lakhs per annum) |
|
Institute |
Average |
Median |
Maximum |
Minimum |
|
FMS |
6.88 |
6.88
|
12.8 |
3.5 |
|
Sydenham |
3.6 |
6.7
|
8
|
1.8 |
|
IIM C |
6.2
|
6.25
|
14
|
3 |
|
IIM, A |
6.2
|
6.2
|
14
|
3.3 |
|
IIM B |
6.11 |
6
|
16
|
3.4 |
|
S P Jain |
6.43 |
5.99
|
12.9 |
3.47 |
|
SoM, IIT B |
5.82 |
5.96
|
14
|
2.84 |
|
IIM L |
6.4
|
5.7
|
14
|
3.2 |
|
NITIE |
6.76 |
5.5
|
14
|
3.5 |
|
IIM, Indore |
5.64 |
5.5
|
12
|
3.75 |
|
XLRI |
6.82 |
5.43
|
14
|
4 |
|
IMT |
5.25 |
5.25
|
7.1
|
2.5 |
|
IIM K |
5.46 |
5
|
15.2 |
2.5 |
|
LBIMS |
4.76 |
4.95
|
7.8
|
2.6 |
|
IIT Delhi DMS |
5.31 |
4.5
|
9.2
|
3 |
|
Symb Int Bus |
2.7
|
4.5
|
6.8
|
1.2 |
|
SIBM |
4.5
|
4.25
|
8.5
|
1.8 |
|
IIFT |
5.5
|
4.25
|
6.8
|
2.5 |
|
IRMA |
4.38 |
4.08
|
11
|
2.9 |
|
VGSom IIT KGP |
4.12 |
3.8
|
9.8
|
3 |
|
NIILM |
3.75 |
3.8
|
6
|
2.8 |
|
BIM |
3.25 |
3.5
|
7.75 |
2.25 |
|
IMI |
3
|
3.5
|
6
|
2.2 |
|
ICFAI |
3.1
|
3.5
|
6
|
2.2 |
|
T A P M I |
2.95 |
3.45
|
6.75 |
2.25 |
|
Welingkar |
3.5
|
3.2
|
5.2
|
1.8 |
|
UBS |
3.5
|
3.1
|
6
|
2 |
|
ITM |
3.6
|
2.8
|
14
|
1.8 |
|
Amity |
2.85 |
2.75
|
6
|
2.4 |
|
PUMBA |
2.85 |
2.6
|
6
|
1.5 |
|
S.I.E.S. |
3
|
2.5
|
6.5
|
2 |
|
Nirma |
2.31 |
2.4
|
4.07 |
1.5 |
|
IIMM |
2.4
|
2.25
|
7.05 |
1.8 |
|
K J Somaiya |
2.65 |
2.2
|
6.77 |
1.7 |
Note:
Data on 157 B schools is available on
www.indiabschools.com (a site belonging to CFore which did the Outlook survey). C Fore advises: The median salary figure is the most
representative. The placement scores may at times not give the true picture e.g if 10% of a small batch of 30 get abroad placements, the score of the institute goes up. We tried our best to validate the information given by B-schools but prospective students should talk to existing students before arriving at a decision. (Ed's note: some of the figures DO look inflated).
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JAM's B School ranking analysis
A +: Creme de la creme: IIM A, B, C L, XLRI
|
Grade |
Defining Characteristics |
B Schools |
|
A |
Defining characteristics Heritage/ brand name schools, excellent placements. Average salary: Rs 4.5-6 lakhs, some foreign
placements |
SP Jain, MDI, IIFT, IIM I, IIM K,NITIE, IIT B SOM |
|
A - |
Brand name schools, secure good placements but need to pull up infrastructure /
faculty |
Bajaj, FMS, Sydenham, IMT Ghaziabad, NMIMS, SIBM |
|
B |
B Schools which have come up in recent times. % of students placed is high. Average
salary: Rs 2-3.5 lakhs. In this category look out for: 5 years ago, MDI was in
this category |
Somaiya, Welingkar, UBS Chandigarh, XIM B, IMI
LBS, ITM *
|
|
B - |
B Schools which appear to have a lot going for them but fall short somewhere. Be
careful in back checking about about placements here. |
Fore, Amity, NIILM, IILM, SIES, Chetana, MET, GIM, TAPMI, ICFAI Indira, PUMBA |
|
C |
The very new B schools, placement scene very poor, many also lack |
IES, Rizvi, Jankidevi Bajaj, Jagan, Institute, Jaipuria, Prestige etc
infrastructure. |
|
F |
Hole in the wall “B schools”. Forget placements, there isn’t even a building, or
any full time faculty |
List too long to name. You’ll know it when you see one. |
|
* categories B and below contain an indicative and not comprehensive list. Some
schools in ‘B -’ may be included in B if you are able to verify placement data.
IRMA being specialized is not included but is an A grade school. |
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