B-school Ranking Methodologies
The obvious question is – why are these rankings different? The reason is that different methodologies that assign different weightages to key factors like placements, size and quality of faculty and quality of students are followed for deduction.
The summary of the ranking methodologies will give you a better idea.
Each ranking is different from the other as various methodologies have been resorted to arrive at the conclusions. Different methods assign different weightages to key factors determining the final ranking. Another big factor for difference is that some surveys (like the one conducted by MBAUniverse.com) are based only on ‘hard data', provided by B-schools through a structured questionnaire, while other rankings include results of ‘perception' surveys that they conduct among recruiters and students.
However, the validity and usefulness of perception surveys can be questioned since selecting a B-school is not like choosing a commodity, where brand awareness & brand positioning tilt the balance in favour of a particular product.
This analytic and in-depth comparative study will surely help aspirants take a call regarding rankings of institutions and which B school to choose. However, the final decision rests with individual candidate.
MBAUniverse.com Ranking 2012
For arriving at the rankings, MBAUniverse.com gathered hard data from more than 100 B schools through a 16-page questionnaire. MBAUniverse.com Rankings are based on latest student, faculty and placements data from B schools. All questions were pertaining to current batch admitted in June/July 2012.
Overall Rankings (which indicate relative quality of B schools) are calculated on basis of three broad parameters & their respective weightages:
a) Input scores (30%); b) Process scores (39%); and c) Output scores (31%).
No perception data is used for arriving at MBAUniverse.com rankings.
Input Scores are based on following sub-parameters:
-- Number of applications per seat
-- Quality of student intake, as determined by the candidate's academic history and entrance exam cut-off scores
-- Percentage of students admitted with professional degrees (like CA/Medicine/Engineering)
-- Work experience of students admitted
Process Scores are based on following sub-parameters:
-- Size & quality of full time faculty: Quality of faculty is judged on percentage of faculty with a PhD & their teaching experience
-- Size and quality of visiting faculty
-- Industry exposure: Based on quantity and quality of industry speakers visiting campus
-- Physical Infrastructure: Residential campus (that promotes holistic learning) is given higher weightage than non-residential.
Output Scores are based on following sub-parameters:
-- Placements performance: As measured by percentage of students placed and their Median salary.
-- Academic output: As determined by the number of Research Papers, Consultancy assignments, and MDP's
Business Today, October 28, 2012 issue
According to Business Today, 205 B schools participated in the ranking process. They were divided into 10 panels. Each panel with an average of 20 B schools had 120 respondents, which is called the “base”, all of whom naturally rated the schools they were aware of. B schools rated by 40 or more respondents (one third of the sample) were assigned a weight of 1, so their perception scores were multiplied by 1. B schools rated by 30 to 39 respondents were given a weight of 0.9, so their perception scores were multiplied by 0.9, deflating their total score by a small margin. For 20 to 29 respondents, the weight was 0.8; and for B-schools that were rated by fewer than 20 respondents, the weight was 0.7.
This year, Business Today carried a factual and perception based survey and combined the results. Both surveys had similar parameters and sub parameters. The factual questionnaire was sent to 1, 832 B schools, of which 205 sent the data. Then, a perception survey of these 205 B schools was carried out among teachers, students, recruiters and young executives. The perception scores were then adjusted for awareness.
Business World, 25 June, 2012 issue
This ranking comprises an objective, data based survey, and a perceptual survey of various stakeholders in the management education system. The surveys were carried out starting March 2012 and, as such, the academic year 2010-2011.
Objective Survey: A structured questionnaire was emailed to 450+ B-schools across India. Out of them, 147 responded with filled-in questionnaires and supporting documents. The information provided was thoroughly checked for accuracy and further validated from secondary sources and included for the survey. Finally, 144 institutes were ranked; data (IIM Bangalore and JIF Kolkata) and third (IIPM Delhi) withdrew.
Perceptual Survey: A structured questionnaire was administered for the perceptual survey amongst the academic community: faculty members, recruiters and industry experts, MBA aspirants, existing B school Students and parents of students. A total of 1,204 respondents were interviewed across 11 cities: Delhi, Lucknow, Kolkata, Patna, Mumbai, Pune, Indore, Ahmedabad, Bangalore, Chennai and Hyderabad. The respondents were asked to rate the institutes they were familiar with on six parameters based on their perception: infrastructure facilities (accommodation, recreational activities, IT Infrastructure); pedagogy (curriculum and student evaluation mechanism); admission procedure; industrial visits and corporate visitors conducting seminars and classes; and, intellectual capital (quality of faculty and students).
The Week, November 4, 2012 issue
The methodology consisted of a combination of information collected from B schools, HR managers, current students and aspiring students, and the analysis of this information. About 700 B schools participated in the survey.
The rating score was made on four dimension-input value, value added, learning ambience and brand value.
Input Value: The parameters considered to asses input value were the entrance test, students with experience, international and out of state students and scholarships offered.
Value added: The professionals and academics engaged by the schools add value to the students. The attributes considered included international linkages, industry visits by students, visits by professionals, faculty profile and strength, teaching methods and the frequency of curriculum revision.
Learning ambience: The attributes included infrastructure, IT and library facilities, industry-student interaction, conferences and student bodies.
Brand Value: The attributes included tie-ups with foreign universities, types of management related courses offered, management/executive development courses offered, campus placements average salary and minimum salary and the recruiters.
Input value: .25
Value added: .34
Learning ambience: .15
Brand value: .26
Outlook, October 1, 2012 issue
The methodology of this survey involved all the stakeholders-B-schools, recruiters, faculty and students. First, a comprehensive list of B-schools who offer two-year full-time management courses and are recognized by a government body (AICTE/NAAC/AIU), are at least five years old and have at least three passed out batches.
The list of parameters and sub-parameters was kept the same as last year's to have consistency and comparability. As many as 187 colleges from across India provided their objective data. Data from 10 colleges was received too late and was not included.
Simultaneously, perceptual questionnaires were designed and face-to-face interviews conducted with 753 key stakeholders. MDRA investigators visited 12 cities (Delhi-NCR, Mumbai, Chennai, Calcutta, Bangalore, Pune, Hyderabad, Jaipur, Ahmedabad, Lucknow, Bhubaneswar and Ranchi-covering three key cities from each zone). The respondents comprised 194 final year MBA/PGDM students ,252 experienced faculty members and 307 seasoned professionals/recruiters-the unique point here being that their perception was based on their experience and not just on secondary information.
The second phase involved verification and audit of objective data provided by the B schools. Initially, all information was carefully examined by checking through past data. Thereafter, 21 of the institutes were visited for physical audit of the data to verify their authenticity. Colleges that provided suspicious data were removed from the ranking exercise at that stage.
The marks in the five parameters of the objective phase were then added to get the total objective score. The perceptual ranking was arrived at by allotting weightage of 50 per cent each. This total score was used to assign the final rankings.
Source: Respective magazines.