Looking beyond IIMs? These factors can help you choose your B-School

There is a feeling of ecstasy whenever someone gets an admission offer from a top MBA college such as IIMs, ISB, MDI, SP Jain, JBIMS, XLRI, IMT, and others. That happiness is compounded when someone gets an offer from multiple colleges. However, it becomes a big headache when someone has admission offers from, let’s say IIM Indore and MDI Gurgaon. You see how difficult it is to choose between the two. There are several other examples where a student faces a similar dilemma. In this article, we have attempted to make it easier for those confused MBA aspirants to choose between an IIM and other top MBA colleges. Here are some of the crucial factors one may consider to make a better decision.

1. Profile

Ask yourself! What are the kinds of job profiles you are looking for? Some colleges are better than others in a specific profile. For example, Nitie Mumbai is a college that is second to none in the supply chains and operations domain. Even the IIMs don’t have such a unique academic rigour to match that of NITIE. Similarly, IIM Calcutta is a cut above the rest if you are looking for a Finance profile. Thus, it is extremely important for you to be clear on what sort of profile you are looking for. Being clear on this front will make your job easier in choosing the right college.

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2. Recruiters

Some companies recruit from selected colleges only. For example, top companies such as Goldman Sachs, BCG, Bain & Company, HUL only hire from selected campuses. If you are someone who is keen on working for a specific cluster of companies, then it can become one of the major grounds for the college selection. It is important to note that there is a positive correlation between the age of the college and the quality of recruiters. 

Established colleges have great corporate relations and a strong alumni base. On the other hand, new colleges don’t have such luxury. Thus, some older MBA colleges other than IIMs may have better companies in their recruiters’ list as compared to the newer IIMs. So, it would help if you did some research about this aspect in order to choose the right college.

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3. Fees

There are several premier MBA colleges in India that are similar in academics, faculties, and placements. But the amount of fee charged by them varies significantly. Let’s take the case of FMS Delhi v/s IIM ABC. IIM ABC charges about INR 23 lakh for its MBA program (2020-22 batch), which is a huge amount by any standard. On the other hand, FMS Delhi charges just around INR 2,00,000 for its two year MBA program (batch 2020-22). It is worth noting that the placement figures of FMS Delhi and IIM ABC are almost similar in terms of packages and recruiters. 

Thus, if you have limited resources, it would not be a bad idea to choose FMS over IIM ABC. FMS graduates are no less recognized in the industry than those of IIM ABC. Here is a table showing how some top management colleges other than IIMs charge low fees but have been producing great results for years.

Note: The fee and placement figures are based on the data of the batch of 2020 or 2021, whichever is available.

4. Faculty

The quality and profile of faculties have an enormous impact on your overall experience at B-School. Old IIMs always boast of the best professors on their in-house faculty list. However, new IIMs have to depend on the visiting faculties whose availability remains uncertain all the time. 

On the other hand, Some other top MBA colleges may have better faculties in their arsenal as compared to new IIMs. Hence, going through the faculty list of the alternative colleges can be a great way to choose the right college.

5. Batch diversity

You must have heard about b-schools trying to bring diversity to the batch. This is done to bring students from a variety of backgrounds so that the quality of learning can be enhanced. Yet, some colleges are always overwhelmed with students with similar backgrounds. So, if you are looking for a diverse batch where you can learn from your peers, take a closer look at the batch diversity of the alternative colleges.

6. Campus life & extra-curricular activities

Many IIMs and other top MBA colleges might be similar in terms of academics, fee, placements, and faculties, but they may vary significantly in campus life and extra-curricular. To illustrate, several new IIMs are currently functioning out of a temporary campus. A temporary campus doesn’t have full-fledged facilities as students face a lot of constraints. 

On the other hand, some private colleges such as IMT, MDI, KJ Somaiya, SPJIMR and others have better campus life. Besides, several new IIMs are not eligible to participate in top B-School or corporate competitions, while some old MBA colleges other than IIMs may be eligible for those prestigious events. 

The quality of campus also has a bearing on sports and cultural activities as well. To sum up, if you are someone who would like to go beyond academics and placements to make the best out of an MBA program, it would be wise for you to carefully assess the campus life aspect of alternative colleges.

All the best!

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