How to choose a B-School beyond top IIMs?

If one gets through the top four MBA colleges in India (IIM Ahmedabad, Bangalore, Calcutta and Lucknow), the decision is easy. But how does a candidate select his/her perfect college from among the huge list of other top Business Schools?  “The choices for a student, if one excludes the top four IIMs, are vast. Even amongst the IIMs, there are nine more institutes to choose from. And then there are other top B-Schools like XLRI Jamshedpur, FMS, SP Jain, JBIMS, and so on. All these colleges have solid rankings and good infrastructure. The student must focus on some pertinent departments in order to narrow down their choice,” says Anil Somani, executive chairman of FOSTIIMA Business School.

So what are these pertinent departments a student should focus on while choosing a B-School?

1. History

“It is a good idea to go for institutes that are traditionally big names such as XLRI, FMS, JBIMS and SP Jain. These institutes generally have better infrastructure, established but innovative curriculum and good placements,” says Vinayak Kudva, Product Head & Mentor, IMS.

2. Quality of the Institute

“Begin by analysing the cut offs of current and past years. This will give you a clear indication of how difficult it is to get into the institute. It will also tell you about the perception of the institute in the minds of B-School aspirants and the outside world. Additionally, it will also give you a fair idea of the calibre of your peers. Look up its faculty and course structure,” says Somani.

3. Specialisation

Choosing an institute should ideally depend on what a candidate wants to do after an MBA. “If someone wants to go into operation management, opt for NITIE,” says Ankur Agarwal from Endeavour Careers. Reiterating similar views, Kudva states, “The crux here is in asking oneself ‘what I want to do post MBA’? If the candidate has a clear view, start looking for appropriate colleges. For instance, if you want to pursue finance management from XLRI Jamshedpur (PGDBM programme), look up their course structure and pedagogy, faculty, and kind of roles offered during placements.”

4. Return of Investment (ROI)

According to Agarwal, “ROI is an important criterion while selecting an institute. FMS and IIFT are colleges that charge considerably lower fees. These colleges also have very good corporate interface. Sometimes a candidate wants the ‘IIM tag’, irrespective of fees, location and other factors. It is better to go for established colleges that charge less.”

5. Location

According to experts, location plays an important role in college selection. “In a place like Delhi or Mumbai, management students have an active interaction with the corporate world. There is also a competition factor among these colleges that can foster learning. In Delhi for instance, there are more than five MBA colleges such as FMS, IIFT, MDI, BIMTECH, IIT Delhi, IMT and so forth. Whereas, XLRI Jamshedpur, though one of the best colleges in India, has no serious competition and lacks location-based corporate advantage,” says Agarwal.

6.  Industry Interface, Placement, Alumni Interaction and Exchange Programme

“Type of industry association, certificates offered, and exchange programmes can indicate a college's stature. Students must check out whether the exchange university is a good one or the B-school has introduced an exchange programme just for the heck of it,” says Kudva.

“The student is advised to confirm the veracity of an institute through independent research including sources such as current students and alumni, in order to get a clear picture.  It would also be worth the student’s time to do an in-depth study of the institute’s alumni network. In the long run, the network of your alma mater could play a big role in your career growth,” says Somani. 

Kudva adds, “Placements also reflect the standard of a B-school. It is easy to offer placements during a good economy. But how is the institute helping students sustain through the bad times? What is the average and mean salary offered?”