Now that you have taken the CAT exam, apart from preparing for XAT, and other upcoming exams, your next step should be to know more about India’s best B-schools. By staying informed you will chose the best-fit B-schools to apply. MBAUniverse.com is starting a new series to make you familiar with leading B-schools and the first B-school in this series is Indian Institute of Management Ranchi, which in a short span of just three years has managed to get attention of the students, and top recruiters.
Positioned by its founder director Dr MJ Xavier as the ‘unconventional’ B-school, with the humble ‘crow’ as its mascot, IIM R was set up in July, 2010. Crow, according to IIM R website is an epitome of community living and sharing and caring of each other which are the ethos of IIM Ranchi, a quality that it will like its students to embrace.
IIM Calcutta is the mentor institute for IIM R. Talking about IIM C, R C Bhargava, Chairman of IIM-Ranchi, said, ’’the mentorship of IIM Calcutta and the strategic directions that the Board has set for the Institute have made it one of the fastest growing Institutes of India’’.
IIM R has recently seen a change of guard in its leadership. Dr Binay Bhushan Chakrabarti, professor from IIM Calcutta has been appointed as the new director of the institute after Dr M J Xavier steeped down in September 2013. Dr Chakrabarti, well known authority in the area of finance with over two decades of teaching, research and industry experience, was earlier a faculty member at the Indian Institute of Management (IIM), Calcutta. He has an experience of teaching at many top B-schools including IIM Ahmedabad, IIM Indore, XIMB amongst others.
The institute has 13 core faculties and 13 visiting faculties. The faculty members of the institute have drawn their Ph.Ds from institutes of international and national repute like National University of Singapore (NUS), Singapore , Whitman School of Management, Syracuse University, NY, USA, IIT Kharagpur, Indian Institute of Management Lucknow etc.
PROGRAMES AND FEE STRUCTURE
The flagship programme of IIM Ranchi is its 2-year PGDM course in which 155 students have taken admission in 2013-2015 batch. Besides its flagship programme, IIM Ranchi also runs various other programmes including 18 months part time Executive Diploma Program for working professionals, 2 years full-time Post Graduate Program in HRM, Fellow Program in Management with specializations in Analytics , other functional areas and MDPs for working professionals.
For the academic year of 2013-15 the institute has increased the total intake of students in PGDM flagship programme from 120 to 155. The total fees of IIM Ranchi is 9 lakhs 20 thousand which includes tuition fees of 5 lakhs 94 thousand , hostel fees of 36, 000 and other fees of two lakhs seventy thousands which includes course material, computer charges and library fee.
SO, WHO GETS IN!
Students from various backgrounds have taken admission for the flagship programme of PGDM at IIM Ranchi for 2013-2015 batch. Out of the total 155 students, 137 are from engineering background, 1 from medical, 3 from arts/humanities, 4 from commerce background and 6 are from others. IIM Ranchi has increased 35 seats this year.
The whole batch of 2013-2015 is a mix of freshers and experienced professionals with the students having an experience of industry work outnumbering the freshers. The number of students having no work experience is 59, 13 students have upto one year of work experience, 55 students have 1-3 years of work experience and 28 students have more than three years of work experience. The number of male students in the present batch is more than that of the female students.
In the placement session 2013, 55 companies including ICICI Bank, JP Morgan, Yes Bank, HSBC, KPMG, TATA Steel, Maruti Udyog recruited 65 management graduates from IIM Ranchi in the final placements. The average annual salary offered to the students was Rs 12.67 lakhs and the highest domestic annual salary was Rs 19 lakhs, while an international recruiter offered an annual package of Rs 24 lakhs. Fresh managers were offered various profiles by the recruiters like, investment Banking Research, Corporate Banking, IT consultant, Retail Product Banking, Product Development, Global Leadership Program, Strategic Sourcing, Digital Marketing, Data Analytics and Executive Assistant to MD/CEO.
The number of students placed under the function of marketing and sales were 34, 16 were placed under the function of finance, 4 were placed under HR while 11 were placed under systems and IT.
1. ICICI BANK LIMITED
2. JP MORGAN
4. YES BANK
9. MARUTI UDYOG LIMITED
10. TATA STEEL
ADMISSION 2014-2016: CRITERIA AND PROCESS
With IIM Ranchi increasing its total intake of students from 120 to 155 for the academic year 2013-15 the minimum sectional cut-off for CAT 2013 is 70 percentile in both the section while the overall cut-off is 90 percentile.
The admission to IIM Ranchi for the 2014-2016 batch will be based on the performance of candidates in the CAT, Personal Interview & Written Ability Test (PI & WAT) and also based on their profile. The PI & WA processes will be common to all the six new IIMs, namely, Ranchi, Rohtak, Raipur, Tiruchirappalli, Udaipur and Kashipur.
As the IIM Ranchi creates its own niche among the leading B-schools of the country there are some areas which need to be taken seriously by the institute. The number of faculties is very less as compared to 155 students who got enrolled in 2013-2015 batch. There is a need for the institute to beef up the faculty strength. Due to non availability of hostel facilities the students have to stay outside the campus on rented accommodations.
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