There are 1000-plus B-schools in India and half a dozen rankings to boot; notwithstanding the numerous claims and counter-claims in the print and/or electronic media. All of these seem to be true at first sight but it really is a Hobson's choice to decide which one to select and which one to prune out from the wannabe list. Following is an exhaustive list of governing parameters in order of importance, for a student to decide the B-school best suited to his/her interests and competence. The governing parameters have been grouped as PRIMARY and SECONDARY:
| Primary Parameters
| Secondary Parameters
|
PRIMARY PARAMETERS
Industry Interface:
The interface that the B-school has, in terms of quality of the companies visiting the campus, the quality of projects, guest lectures, visiting faculty et el gives an idea of the kind of rapport the institute has built up for itself in the industry. This strong linkage is developed and maintained by both the Training and Placement Departments, along with the active participation of the students. The data, about the companies visiting the campuses for summer or other contact programmes, is available in the curriculum details.
Pedagogy and Strength of course:
Some courses have become synonymous with the very best in the world. For instance IIM-A started with the active participation of Harvard & IIT-Bombay has incorporated the course of Sloan School of Management. Not just the course but the unique pedagogy through which the course is administered also plays a very important part in the development of the future manager. For example, IIM-A administers most of the part through case-studies whereas experiential learning is the norm at FMS, Delhi.
Faculty:
The vision and excellence of the faculty not just in terms of academic qualification but also in researches carried out, papers published, projects undertaken, and the first hand experience of the practicability of solutions juxtaposed with the experience of having done the real thing through the students makes for real learning. These details can be readily sourced from the website and/or the brochure of the institute. While considering faculty, one has to look for the number of permanent faculty, the experience of faculty , their experience, and their business knowledge.
Alumni Strength:
The positions occupied in the echelons of management in the corporate world by the alumni give an ample evidence of the locus standi of the school. This goodwill or confidence gets translated into better placements. One can get a general idea, based on the year of establishment of the school. Generally, the older the school, the larger and probably the more distinguished is its alumni strength. The information about alumni is readily available on the websites, brochures, or generally in the alumni databases managed by al coms (alumni committees).
Specialized B-schools:
A student's interest in a particular field or subject is a vital ingredient in the choice of a B-school. Some schools have become synonymous with one of the specializations they offer. For example, XLRI and TISS are well known for Human Resources, MICA for Advertising, IIFT for Foreign Trade, IRMA for Rural Management, IIFM for Forest Management, NITIE for Industrial Management, etc. One needs to choose the course according to one's own inclinations.
Placements:
B-school placements are looked at with awe and expectation by the aspiring students year after year. It includes the number of companies that visited the campus, average salary packages offered by them, quality of the companies, the average number of jobs offered by the companies, and the number of overseas placements. Yet despite this being a significant factor, it is itself dependent on the interplay of a host of other parameters at work and should not be viewed in isolation. Secondly, one should do a careful analysis of at least past two to three years of placements to get a realistic picture.
Infrastructure:
The presence of adequate and state-of-the-art infrastructure is an important determinant to judge whether the school offers qualitative environment conducive to learning. The infrastructure includes not just the lecture theatres, auditoriums, or other such entities, but also the availability of adequate resources for effective and quick learning to take place.
Research Excellence Vs Academic Excellence:
Teaching and research are important to all business schools and a B-school should be able to make a judicious balance between the two. The pointers can be: -
The interface that the B-school has, in terms of quality of the companies visiting the campus, the quality of projects, guest lectures, visiting faculty et el gives an idea of the kind of rapport the institute has built up for itself in the industry. This strong linkage is developed and maintained by both the Training and Placement Departments, along with the active participation of the students. The data, about the companies visiting the campuses for summer or other contact programmes, is available in the curriculum details.
Pedagogy and Strength of course:
Some courses have become synonymous with the very best in the world. For instance IIM-A started with the active participation of Harvard & IIT-Bombay has incorporated the course of Sloan School of Management. Not just the course but the unique pedagogy through which the course is administered also plays a very important part in the development of the future manager. For example, IIM-A administers most of the part through case-studies whereas experiential learning is the norm at FMS, Delhi.
Faculty:
The vision and excellence of the faculty not just in terms of academic qualification but also in researches carried out, papers published, projects undertaken, and the first hand experience of the practicability of solutions juxtaposed with the experience of having done the real thing through the students makes for real learning. These details can be readily sourced from the website and/or the brochure of the institute. While considering faculty, one has to look for the number of permanent faculty, the experience of faculty , their experience, and their business knowledge.
Alumni Strength:
The positions occupied in the echelons of management in the corporate world by the alumni give an ample evidence of the locus standi of the school. This goodwill or confidence gets translated into better placements. One can get a general idea, based on the year of establishment of the school. Generally, the older the school, the larger and probably the more distinguished is its alumni strength. The information about alumni is readily available on the websites, brochures, or generally in the alumni databases managed by al coms (alumni committees).
Specialized B-schools:
A student's interest in a particular field or subject is a vital ingredient in the choice of a B-school. Some schools have become synonymous with one of the specializations they offer. For example, XLRI and TISS are well known for Human Resources, MICA for Advertising, IIFT for Foreign Trade, IRMA for Rural Management, IIFM for Forest Management, NITIE for Industrial Management, etc. One needs to choose the course according to one's own inclinations.
Placements:
B-school placements are looked at with awe and expectation by the aspiring students year after year. It includes the number of companies that visited the campus, average salary packages offered by them, quality of the companies, the average number of jobs offered by the companies, and the number of overseas placements. Yet despite this being a significant factor, it is itself dependent on the interplay of a host of other parameters at work and should not be viewed in isolation. Secondly, one should do a careful analysis of at least past two to three years of placements to get a realistic picture.
Infrastructure:
The presence of adequate and state-of-the-art infrastructure is an important determinant to judge whether the school offers qualitative environment conducive to learning. The infrastructure includes not just the lecture theatres, auditoriums, or other such entities, but also the availability of adequate resources for effective and quick learning to take place.
Research Excellence Vs Academic Excellence:
Teaching and research are important to all business schools and a B-school should be able to make a judicious balance between the two. The pointers can be: -
- What percentage of faculty is involved in research ?
- How much time does the faculty devote to research ?
- Is research output academic and theoretical, or applicable and relevant to business ?
SECONDARY PARAMETERS
Degree Vs Diploma:
Even though the most prestigious B-schools like IIMs give you a diploma, yet a student has a tendency to opt for B-schools which offer a degree rather than a diploma. The institutes that are affiliated to a university or have a deemed university status offer you a degree. It is generally believed that a degree holder has far higher chances to apply for a doctoral programme in the Best B-schools abroad.
Boarding Vs Day-school Programme:
A good B-school day would consist of at least 4-5 hours of class room training followed by at least 6-7 hours of working in groups outside of the class. As a result, a major part of value addition happens during learning outside classroom. This not only assists in the development of personality of the individual but also forges teamwork as the way to succeed, using experience and knowledge of one’s peers. So, the B-schools with compulsory boarding programme get a higher rating than the ones with a day programme.
GStudent and faculty exchange programmes are the norm but schools like IIMs and FMS are looking at getting foreign students through GMAT to give an international feel to the programme. Besides, some B-schools are tying-up with other foreign universities to try and offer a joint or dual MBA. Lastly, some B-schools like IIM-L are trying to get European and American accreditations to highlight the quality of their course and give it an international outlook. All this helps define the idea of quality of a B-school for the student.
Fee Structure:
While selecting a B-school, fee can take a back seat, because these days all the banks are providing educational loans at an affordable rate. If you are getting an admission in a good B-school like IIMs, MDI, S. P. Jain, etc., the banks would happily provide the loans to cover the expenditure for the two-year period. Additionally, the terms are pretty comfortable. The important fact unstated is once you graduate from a premier B-school, the placements can take care of the loan amount easily.
Timing of Entrance Examination:
Exams like CET Maharashtra (for institutes like JBIMS, Sydenham, etc.) and admission procedure by institutes like Tata Institute of Social Sciences are conducted in June, by which time most of the schools have come out with their final lists and have even asked to pay part fee in some cases. Even though the programmes, say by TISS, are excellent, a student may not be motivated enough to go through the process again. So the time is important.
Location:
This may turn out to be an important factor in case of a new school. An HR manger would think twice before devoting two-days to visit a B-school in a not-so-well-connected place. On the other hand, new B-schools may get a look in if they are located in metros or industry-centric areas. This factor becomes redundant with time as the school builds up its reputation. Hence, even a seemingly simple decision to select a B-school requires a lot of research to come to the final conclusion. This would give you valuable insights not only on the distinctive fabric of a B-school but also would help you find the best place
Even though the most prestigious B-schools like IIMs give you a diploma, yet a student has a tendency to opt for B-schools which offer a degree rather than a diploma. The institutes that are affiliated to a university or have a deemed university status offer you a degree. It is generally believed that a degree holder has far higher chances to apply for a doctoral programme in the Best B-schools abroad.
Boarding Vs Day-school Programme:
A good B-school day would consist of at least 4-5 hours of class room training followed by at least 6-7 hours of working in groups outside of the class. As a result, a major part of value addition happens during learning outside classroom. This not only assists in the development of personality of the individual but also forges teamwork as the way to succeed, using experience and knowledge of one’s peers. So, the B-schools with compulsory boarding programme get a higher rating than the ones with a day programme.
GStudent and faculty exchange programmes are the norm but schools like IIMs and FMS are looking at getting foreign students through GMAT to give an international feel to the programme. Besides, some B-schools are tying-up with other foreign universities to try and offer a joint or dual MBA. Lastly, some B-schools like IIM-L are trying to get European and American accreditations to highlight the quality of their course and give it an international outlook. All this helps define the idea of quality of a B-school for the student.
Fee Structure:
While selecting a B-school, fee can take a back seat, because these days all the banks are providing educational loans at an affordable rate. If you are getting an admission in a good B-school like IIMs, MDI, S. P. Jain, etc., the banks would happily provide the loans to cover the expenditure for the two-year period. Additionally, the terms are pretty comfortable. The important fact unstated is once you graduate from a premier B-school, the placements can take care of the loan amount easily.
Timing of Entrance Examination:
Exams like CET Maharashtra (for institutes like JBIMS, Sydenham, etc.) and admission procedure by institutes like Tata Institute of Social Sciences are conducted in June, by which time most of the schools have come out with their final lists and have even asked to pay part fee in some cases. Even though the programmes, say by TISS, are excellent, a student may not be motivated enough to go through the process again. So the time is important.
Location:
This may turn out to be an important factor in case of a new school. An HR manger would think twice before devoting two-days to visit a B-school in a not-so-well-connected place. On the other hand, new B-schools may get a look in if they are located in metros or industry-centric areas. This factor becomes redundant with time as the school builds up its reputation. Hence, even a seemingly simple decision to select a B-school requires a lot of research to come to the final conclusion. This would give you valuable insights not only on the distinctive fabric of a B-school but also would help you find the best place
