Waiting period for admission to new IIMs is going to be over as the final merit lists for admission to IIM Kashipur, IIM Ranchi, IIM Raipur, IIM Rohtak, IIM Trichy and IIM Udaipur are expected to be out in the 1st week of May 2014. Brand IIM has definitely become a household name for MBA education and with the high standard of education during the short span of their emergence; these 6 new IIMs have also been able to maintain the standard of learning experience and placement which attract more and more MBA aspirants year after year.
Although the short listing criteria for these 6 new IIMs for admission to 2014-16 batch has remained more or less same and aspirants, figuring in final lists, may get the chance of admission in all the 6 IIMs, the need is to check for the key deciding factors that could guide you to watch your step before leaping into the lap of your chosen new IIM.
MBAUniverse.com with its rich experience and weightage matrix brings forth key comparative parameters that would help you to decide which one to opt among the 6 IIMs.
Older will have larger Alumni network
The saying “Old is gold” is not without substance and in case of IIMs it is more apt as the older one must have wider Alumni base. Alumni network is so important that it not only helps you decide which way you should go but also makes it possible to have better chances for higher number of options to corporate and academic connections.
Although all the 6 IIMs started functioning between 2010 to 2011 with the number of students as low as 30+, difference of 1 batch might occur, if we tried to calculate the number of passed out batches. The alumni base no doubt has now begun to widen as the batch size has started increasing in almost all the 6 IIMs. While IIM Ranchi, IIM Rohtak, IIM Raipur began functioning in 2010, IIM Trichy, IIM Kashipur, IIM Udaipur started imparting education in 2011. Hence the difference in legacy may not be as prominent as they do not have much age difference.
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Number of seats in Flagship Programmes
Unless all the seats are filled with the right quality of candidates, no B school will increase the intake. With the name IIM associated to the B school, probably no seat remains vacant in the flagship programme. Since their inception, intake in each of the 6 IIMs has increased substantially and the present intake is as under-
IIM Kashipur: 135
IIM Raipur: 120
IIM Ranchi: 200 (PGDM & PGDHRM)
IIM Rohtak: 130
IIM Trichy: 110
IIM Udaipur: 120
Going by the above analysis, it can be concluded that all the 6 IIMs have increased number of seats as the same are consistently filled with the right quality of candidates although IIM Ranchi has slightly more number of seats. Intake apart from other key parameters could be one of the criteria to choose one of the six IIMs.
Full Time faculty: The learning experience
Teacher student ratio is also an important factor while having a good learning experience with focused mentorship. More the number of core faculty members, better will be the chemistry between teacher and the taught.
Full time faculty at IIM Kashipur: 19
Full time faculty at IIM Raipur: 22
Full time faculty at IIM Ranchi: 12
Full time faculty at IIM Rohtak: 22
Full time faculty at IIM Trichy: 19
Full time faculty at IIM Udaipur: 22
IIM Ranchi has smallest number of full time faculty with 12 faculty members, followed by IIM Trichy and IIM Kashipur with 19 each. IIM Rohtak, Raipur and Udaipur each has a strength of 22 core faculty. It means IIM Ranchi has the poorest teacher student ratio of 1:16 which is 1:5.5 at IIM Raipur and Udaipur followed by 1:6 at IIM Rohtak and IIM Trichy and 1:7 at IIM Kashipur.
Fee structure
Higher the fee more will be the financial burden. Although a few scholarships for deserving candidates are available at these B schools, MBA education still remains much more expensive.
Fee at IIM Kashipur: Rs.8.30 lakhs
Fee at IIM Raipur: Rs.9.85 lakhs
Fee at IIM Ranchi: Rs.9.2 lakhs
Fee at IIM Rohtak: Rs.9.3 lakhs
Fee at IIM Trichy: Rs.10.45 lakhs
Fee at IIM Udaipur: Rs.9.20 lakhs
MBA with new IIMs is no less expensive than with the top notch private B schools like SPJIMR Mumbai that charges Rs.10.50 lakhs for the entire course and has great USPs.
JBIMS, SIMSREE, KJ Somaiya, NL Dalmiya have even much lower fee structure except the fact that tag of IIM doesn’t exist with them.
Fee structure with fewer students and high maintenance is usually high in IIMs. Although with increasing batch size it may remain under control in future, the trend sends the message that the need is to control such expenses and work out proper economics to manage it.
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Short listing-CAT Cut off
Almost all the new IIMs who declared a lower CAT cut off percentile before the beginning of Common Admission Process (CAP) to shortlist the candidates found it difficult to go below a percentile of 96.82, given the criteria of profile, experience, gender diversity. The short listing criteria with CAT percentile remained as under at 6 new IIMs
IIM Kashipur: 96.82
IIM Raipur: 96.82
IIM Ranchi: 96.82
IIM Rohtak: 97.11
IIM Trichy: 96.82
IIM Udaipur: 96.82
Interestingly, it was IIM Rohtak that proposed the lowest CAT cut off with 85+ for admission 2014 but emerged as the B school with the highest CAT cut off.
Average placement
In fact the Campus Placement, career prospects determine the Return on Investment after spending lot of money. This becomes the key criteria in selecting the right B school out of many. We place below the latest placement figures as made available by these IIMs.
IIM Kashipur: Rs.10.12 lakhs (2013)
IIM Raipur: Rs. 12.03 lakhs (2013)
IIM Ranchi: rs.12.40 lakhs (2013)
IIM Rohtak: Rs. 9.68 lakhs (2014)
IIM Trichy: Rs. 10.92 lakhs (2013)
IIM Udaipur: Rs. 9.82 lakhs (2013)
IIMs remain shy of publishing current placement reports before the students take admission. The main reason, as given by them is the Audit of the report. Prior to IPRS Audit which is held in the month of August/September every year, they do not publish the authenticated placement data. However, a few bold IIMs like IIM Rohtak who probably does not participate in this audit system prefer to provide full transparent placement data to the prospective admission seekers before they finally decide which IIM they should choose. IIM Rohtak has published its placement 2014 data with all the details
Prospective MBA candidates have every right to know how good the campus placement record at these IIMs is. It will not only give an idea of future career prospects down the line but will also enable you to calculate the return on investment that you will be making after putting in so much of money and precious 2 years of your life.
Top Recruiters at 6 New IIMs
Renowned companies and corporate houses when extend their interest as campus recruiters, the placement season is flourished with hope for well assured future.
MBAUniverse.com gives below a few of the top recruiters at these IIMs
IIM Kashipur- L&T, Tata Power, BPCL, ICICI, Yes Bank, KPMG, TVS
IIM Raipur- BPCL, HPCL, Tata Motors, Ranbaxy, Hero motocorp, IBM, L&T, Maruti Suzuki, HSBC, ICICI, Trident, Yes Bank
IIM Ranchi- ICICI Bank, J P Morgan, YES Bank, Ranbaxy, Tata steel
IIM Rohtak- Becton Dickinson, GSK, L&T, Max, HSBC, Religare, ICICI Bank, Yes Bank, Boston, Wipro, Infosys, Trident,
IIM Trichy- Ranbaxy, ICICI Bank, Yes Bank, HPCL, BPCL, KPMG, Cognizant, Perfint Healthcare, Indian bank,
IIM Udaipur- GE India, Yes bank, ICICI, Bajaj Auto, BPCL, Genpact, Quikr, Tata Power, TVS, Crompton Greaves, GS Analytics
Which one to choose
You are supposed to base your decision taking into account all the possible parameters that could be distinctive to choose the best one. These national B schools stand almost on the same level. You have to check the financials and ROI, if regional preference doesn’t matter much. You are further advised to cross check other favourable details before finalizing the admission for example which programme you like and which IIM offers it with the best learning experience and whether more recruiters make more offers in that sector.
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