The first thing that comes to mind while selecting the right MBA college is B-School rankings. While there are several rankings published every year by individual organisations, MHRD accepts NIRF (National Institute of Ranking Framework) ranking. According to 2018-2019 rankings, IIM Ahmedabad, IIM Bangalore, IIM Calcutta, IIM Lucknow and IIT Bombay are the top 5 B-Schools in India.
With CAT 2018 Result inching closer, aspirants are scrutinising their options for colleges. Everyone has already started looking at the plethora of ranking of MBA colleges in India. However, there is a world beyond rankings. The second critical factor to consider is placements. Most candidates look into past placement records of colleges before they take admission. In this regard also, NIRF has made things easy by providing actual placement statistics, which the institutes have officially submitted to them.
As per them, the top 5 B-Schools in India on basis of the average package offered are IIM A, B, C, SPJIMR, XLRI. Their median placements in the 2016-17 batch were respectively 2148548, 2000000, 2000000, 2000000, 1900000. Please note that here we are talking about median placements and not highest packages.
Arranging top 50 B-Schools in India on basis of their median placements, the highest is 2148548 and lowest is 300000. But, as you can see, placements do not solely determine ranking. Because SPJIMR has fourth best placements yet has an overall rank of 19. Likewise, XLRI has fifth best placement yet ranks at number 5. Another example is IIFT, with 1507000 median placement, is 12th best in terms of placements and yet is at 23rd rank.
So what other things matter?
Candidates should also consider aspects such as diversity, scholarships, infrastructure, research projects undertaken by the institute, consultancy projects undertaken by the institute and qualifications of faculty members. Checking accreditation, the affiliation of the college is also important. CAT 2018 exam apart, there are many MBA entrance exams like MAH MBA CET that are yet to happen, that open gateway for admission to several good colleges.
Also, take into consideration that rankings are prone to loopholes. The fact that colleges such as FMS Delhi, JBIMS, NMIMS, XIMB are not in NIRF ranking, for any reason, begets for candidates to go for a second opinion.
Third, but a really important factor to choose the perfect MBA college, is fees. Top colleges for MBA / PGDM that have low fees are FMS Delhi, JBIMS Mumbai, NITIE Mumbai, TISS Mumbai, IIT Delhi, IIT Roorkee, DMS Pune / PUMBA, BHU, Delhi School of Economics, JMI University. At FMS, the annual tuition fee is approximately Rs 10,480 per year which is one of the lowest pan-India.
Candidates are aware that pursuing a management program usually requires a lot of investment (fee is usually around 25 lakhs), and moreover, those 2 years will shape their future. Hence, good planning is critical while selecting colleges.
Aspirants can also get a better picture of what the college is like by connecting with alumni or present students of a B-Schools. However, it is not uncommon to come across extreme reviews, hence utilize student feedbacks and reviews by exercising best judgement. Wishing you the very best for your CAT Result 2018, and MBA Admission 2019.
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