Brand IIM has become a rat race for the MBA aspirants, although equally good B schools like Great Lakes, TAPMI and LIBA have already made their global presence felt. Right from the beginning MBA aspirants work hard to get into one of the IIMs but despite scoring high percentile of 90+ admission in IIMs remains a mirage. Great Lakes, TAPMI and LIBA offer better opportunities with great learning experience, it will be much better to choose one of these top rated B schools which have the proven track record and great USPs.
Criteria to choose the preferred MBA
What should be the criteria while choosing one of the 3 B schools assuming that the facilities are equally good, fee structure is more or less the same and none of the institutes lag behind in providing the best learning experience. MBAUniverse.com suggests measuring your preferences on following parameters in addition to any regional or other preference, which you may have in mind
Alumni Base is important
Alumni base of the B school depends upon its age and intake. The older the institute, the greater will be the Alumni base.
Loyola Institute of Business Administration (LIBA) is the oldest B school among the three. It was established in 1979 in Chennai and is a private run highly ranked B school providing good management education. Its alumni base has a broader base. The 35 years old institute’s alumni from this B school is highly placed which fosters the corporate connections and regular placements
TA Pai Management Institute (TAPMI) Manipal, is the second in the series of 3 B schools. It was established in 1984. Today, over 3000 TAPMI alumni hold responsible managerial positions in India and abroad. The institute shifted its campus in 2009 in a more spacious 42 acre area.
Great Lakes Institute of Management has two campuses. Main campus is in Chennai and the other is Gurgaon. The institution is a brain-child of the US-based management guru Dr Bala V. Balachandran and was founded in 2004 to be put on par with IIMB and IIMK. With its diversified management programmes, the institute has consistently been widening its alumni base. Highly placed members of alumni association of this B school have further taken up the Career counseling services for the current students.
Number of batches have passed out of these institutes and are positioned at high places in the corporate and industrial sectors. Although they are all private run top notch B schools with no funding from the Government, these B schools hold the envious position even for many state funded management institutes.
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The Intake
Number of seats in flagship PGDM programmes at LIBA Chennai is 120. Although difficult, students can find admission to LIBA, if they apply in time with good CAT/XAT scores. The institute received more than 5 thousand applications for admission 2014-16. With a XAT percentile of 75 and CAT percentile of 80 candidates could explore the admission opportunities at LIBA.
TAPMI Manipal has an intake 420 and 60 seats for the flagship PGDM and PGDM Healthcare programmes for 2014-16 batch. The MBA admission seekers to TAPMI find it a hot and much sought after destination.
Great Lakes, Chennai has an intake capacity of 360+ students in the flagship programme of PGPM. The first batch of PGDM is passing out shortly. The B school conducts well acclaimed 1 year PGPM programme and 2 years PGDM programme. Admission seekers to this highly ranked and preferred b school has to apply well in time as it starts its admission process immediately after the announcement of CAT results. Candidates, if admitted in this B school do not prefer going to any other B school.
Fee structure
All the institutes are self funded and accordingly have a fairly high fee structure.
LIBA: PGDM fee- Rs.9 Lakhs
TAPMI: PGDM fee-Rs.13.5 lakhs
Great Lakes: PGPM &PGDM fee: Rs.14.20 Lakhs
Fee is lowest among the three institutes at LIBA followed by TAPMI. It is highest at Great Lakes.
Availability of Bank Funds
MBA/PGDM courses at all the three B schools are approved by AICTE and the institutes are highly ranked. Students from varying strata and economic backgrounds who are unable to foot the bill can avail bank education loans. Varying education loan schemes are available with banks with the funding facility upto Rs.20 lakhs and that too without any margin money required. All these B schools have Banks at the respective campuses also.
Faculty ; the base for teacher student ratio
Core faculty at the B school decides the learning experience in imparting the education at the institute and is the main factor in providing adequate mentorship to the students. The better is the teacher student ratio; the better will be the mentorship at the institute.
LIBA: Number of Full time faculty members-21
TAPMI: Number of Full time faculty members-37
Great Lakes: Number of Full time faculty members-50
All the 3 B schools apart from having full time faculty members have number of eminent adjunct, guest and visiting faculty who provide effective mentorship to the students. Teacher student ratio is 1:6 in LIBA followed by Great lakes with 1:7. The gap is more at TAPMI with 1:16.
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Admission criteria and short listing
All the three B schools accept CAT and XAT scores and the range of percentile cut off lies somewhere between 75 to 90 depending upon the academic record, work experience, gender diversity and performance in GDPI round. Sometimes candidates with high percentile of 90 do not qualify the final admission round whereas candidates with low percentile of 80+ but performing well are able to convert the call in these B schools.
Average Placement
This part is more significant to calculate the Return on Investment before taking the admission during this period of economic slowdown. It may be difficult to visualize the placement package after 2 years but the past placement reports will definitely make the picture clear to a great extent. If you compare the fee structure with that of any IIM, it will be more or less same. The focus is now on what you would be getting after 2 years.
Highest salary offered: Rs.26.72 lakhs
Average Salary offered: Rs. 11.03 lakhs
Highest Salary offered: Rs.12 lakhs
Average Salary offered: Rs.8 lakhs
Highest Salary offered: Rs.55 lakhs
Average Salary offered: Rs.9.71 lakhs
Top Recruiters
It is not the reputation of B school alone which improves with the visit of renowned recruiters in campus placement, the companies also get the reputation of being one of the recruiters at the top rated B school.
Top recruiters at LIBA- Cognizant, Deloitte, HDFC, HSBC, ICICI, Blue star, Tata Motors, KPMG, Asian Painta, Godrej, ITC
Top recruiters at TAPMI- Axis Bank , Bajaj Electricals, Balmer Lawrie, Capgemini, Cognizant, CRISIL, Dell, Deloitte, Dr.Reddy’s, HCL, ICICI
Top recruiters at Great Lakes- Bank of America, Kotak Mahindra Bank, Citi Bank, Axis Bank, HDFC Bank, Microsoft, TCS, CTS, Infosys, ITC Infotech, HCL, L&T Infotech, Wipro, HCL, Accenture, Mindtree , L&T
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