BITS School of Management (BITSoM) Mumbai benchmarks Placements with Top B-schools; McKinsey, BCG, Bain confirm Placement, Internships

MBAUniverse.com News Desk |
March 19, 2021
On January 28, BITS Pilani launched the ‘new age business school’ BITS School of Management (BITSoM) in Mumbai. After roping in top global faculty to teach its founding class, BITSoM is making good progress on Placements front too. Continue reading for latest Placements updates, Companies confirmed, and expected Salary packages, exclusively on MBAUniverse.com.
BITSoM Mumbai Placements

Placements and Return on Investment (ROI) are certainly amongst the top criteria while deciding a B-school. Latest Fees and Placements data for all top B-schools are available on MBAUniverse.com, making it easy to compare these well-established B-schools. But how do you decide if you are entering the founding class of say an ISB or an IIM? In a recent webinar many aspirants posed the same question for the newly launched BITSoM Mumbai. To answer this important question, MBAUniverse.com spoke to BITSoM officials, did some research, andcame up with the likely placements for the founding class of BITSoM.

But before we talk about Placements, here is a quick primer on BITSoM Mumbai.

BITSoM Mumbai Admission 2021-23 Open: Apply Now 

On January 28, 2021, top ranked University BITS Pilani launched the ‘new age business school’ BITS School of Management (BITSoM) in Mumbai. Much like the ISB model, BITSoM has roped in top global faculty from Wharton, Kellogg, Cornell, NYU Stern School and SMU. Dr Ranjan Banerjee, present Dean of SPJIMR Mumbai, has been named the Dean-Designate for BITSoM and will be formally joining from April 2021. Classes for the first batch (2021-23) will commence in July 2021. Round 1 Applications has drawn great response with 700+ Applications. Round 2 will close on March 28. Read more about BITSoM Admission 2021.

BITSoM benchmarks Placements with top B-schools
Coming back to BITSoM Placements, here is the first good news. BITSoM team is confident of Placements of the founding class and is benchmarking it with Top B-schools. Speaking with MBAUniverse.com, Mr. Narottam Kishore, Head of Admissions and Outreach at BITSoM said, “Our placement team has already started reaching out to top recruiters to participate in our Summer Internships 2022 and Final Placements 2023. Students entering 2023 batch can expect final placements at par with that of top business schools of the country.”

So, what gives BITSoM this confidence of matching placements with top B-schools? Responding to this query, BITSoM cited a few reasons like strong Governing Council and BITS Pilani Alumni network. Mr Kishore said, “Yes, we are confident that BITSoM students can expect placements at par with the top business schools of the country. There are three reasons why we believe so. Firstly, BITSoM students will gain access to relevant networks and industry insights with the help of our distinguished Governing Council which is an elite body comprised of pioneering leaders. Secondly, the school is located in Mumbai which offers easy access to leading industries, networks, resources, and more. And finally, BITSoM will be able to leverage our BITS Pilani alumni network of over 55,000 industry leaders and bring top recruiters on campus.”

Now let us do a deep dive into each of these reasons, and a few more!

Governing Council and Advisory Body – packed with CEOs
Indeed, pedigree matters! BITSoM Mumbai has a stellar Governing Council which will help the school be better integrated with industry. The Governing Council members include:

  • Kumar Mangalam Birla: Chairman, Governing Council, BITSoM; Chancellor, BITS Pilani and Chairman of the Aditya Birla Group. He is an MBA from London Business School and a Chartered Accountant (CA).  
  • ShobhanaBhartia: Chairperson, Hindustan Times Group and Pro Chancellor, BITS Pilani University of Calcutta.
  • Souvik Bhattacharyya: Vice Chancellor, BITS Pilani; PhD, Texas A&M University; MS, University of Cincinnati; BME, Jadavpur University.
  • Ranjan Banerjee: Dean Designate, BITSoM; Ph D, University of Minnesota; MBA, IIM Calcutta; B Tech, IIT Bombay.
  • Bharat Puri: Managing Director, Pidilite Industries Ltd; MBA, IIM Ahmedabad

BITS Pilani Alumni Network
BITS Pilani, a top research lead deemed University in India, is one of the first six institutes to be awarded the Institute of Eminence (IoE) status by Government of India in 2018. Being part of BITS Pilani, BITSoM shall offer an MBA program, and not PGDM or PGP. BITSoM Students will also have access to BITS Pilani alumni network – including 3000+ CEOs of leading Indian and multi-national companies and 4200+ founders who have shaped global businesses. Some prominent BITSians are Baba Kalyani, Chairman of Bharat Forge; Rakesh Kapoor, Global CEO of Reckitt Benckiser; Sanjay Mehrotra, Co-founder of SanDisk and Anant Maheshwari, President of Microsoft India.

Curriculum & Faculty – the building block
Looking at the success of ISB, SMU, Great Lakes Chennai and a few other institutions, it is fair to say that academic leadership and faculty is the heart and soul of any B-school. While it is difficult to recruit top global faculty from the start, all these B-schools invited top global faculty and subject experts to teach at their campus from the founding class. This gave a strong start to the program, and put the students at par with top B-schools.

BITSoM has confirmed that starting July 2021 following faculty members from leading global business schools will teach at the B-school:

  • Dr Ranjan Banerjee, Dean-Designate, BITSoM (PhD, University of Minnesota MBA; IIM Calcutta; BTech, IIT Bombay)
  • Dr Dhananjay (Dan) Gode, Professor of Finance, NYU Stern School of Business (MS & PhD, Carnegie-Mellon MBA, IIM Calcutta BE, IIT Varanasi)
  • Dr Soumitra Dutta, Professor of Management, Cornell University (MS & PhD, UC Berkeley BTech, IIT Delhi)
  • Dr Mark Finn, Clinical Professor of Accounting, Kellogg School of Management (PhD & MBA, Cornell University BA, Stanford University)
  • Dr Gerard George, Dean and Chair Professor of Innovation and Entrepreneurship, SMU, Singapore (PhD, Virginia Commonwealth University MMS & MSc (Integrated), BITS Pilani)
  • Dr ZivKatalan, Adjunct Professor of Operations Wharton Business School (PhD, Columbia University BS, Tel-Aviv University)
  • Dr Nirmalya Kumar, Professor of Marketing, Singapore Management University (PhD, Marketing, Kellogg School of Management; MBA, University of Illinois, Chicago; BCom, Calcutta University)
  • Dr Piyush Kumar, Associate Professor, Marketing, Terry College of Business University of Georgia, USA (MBA, IIM Ahmedabad; BTech, IIT Kanpur; PhD, Purdue University)
  • Dr Cait Lamberton: Professor of Marketing, Wharton Business School (MBA & PhD, University of South Carolina; BA English, Wheaton College, Illinois)
  • Dr Luis Martins, Professor of Management, University of Texas Austin; MPhil & PhD, NYU Stern School of Business; BS & MS, Barkatullah University
  • Dr Raja Gopal Raghunathan, Professor of Business, University of Texas Austin (PhD, NYU Stern School of Business; MBA, IIM Calcutta; BE, BITS Pilani)
  • Dr Milind Shrikhande, Professor of Finance, Georgia State University (MA & PhD, Wharton Business School; MBA, IIM Calcutta; BTech, IIT Bombay)

Fee & Scholarship – a comparison with IIMs
Apart from Placements, the other factor in ROI calculation is the Fees. Total fee for the two-year MBA program at BITSoM Mumbai for class of 2021-23 is Rs. 24.50 Lakhs. This includes tuition fee, and accommodation fees. How does this compare with other top B-schools? Let’s find out.

B-school
Program & Duration
Total Fee
ISB
1 Year
Rs 35.99 Lakhs
IIMA
2 Years PGP
Rs 23.00 Lakhs
IIMB
2 Years MBA
Rs 23.20 Lakhs
IIMC
2 Years MBA
Rs 22.50 Lakhs
XLRI
2 Year PGDM
Rs 23.60 Lakhs
BITSoM
2 Year MBA
Rs 24.50 Lakhs

Source: MBAUniverse.com Database

Looking at above data, it will be fair to say that BITSoM fee is similar to that of top Indian B-schools except ISB, which is far higher. Given the number of global faculty who will be teaching at BITSoM, this fee looks like a fair price for top quality education.

Further, to attract the best students, BITSoM is offering many Scholarships. There are three types of scholarships:

  • Merit scholarships,
  • Merit-cum-need scholarships,
  • Scholarships to women candidates.

The school has earmarked Rs.2.0 crore to be awarded as scholarships to deserving candidates in the first year.

BITSoM Mumbai Admission 2021-23 Open: Apply Now 

Placement Process starts even before Admissions ends! McKinsey, BCG confirm Placements, Internship
Yes, this is true! BITSoM corporate engagement and placements team has already connected with top companies and are getting a good response. McKinsey has agreed to visit BITSoM for Final Placements 2023, while Bain and BCG have agreed to offer Summer Placements 2022.

Responding to MBAUniverse.com query, BITSoM shared names of following companies who have confirmed to offer Summer Internships next year:

  1. Boston Consulting Group
  2. Bain & Co.
  3. Adobe Inc.
  4. Bajaj Finserv Ltd.
  5. Cisco Systems, Inc.
  6. Hiveloop Technology Pvt Ltd – Udaan
  7. Lenovo Group Limited
  8. Media.net
  9. Times Internet
  10. Aditya Birla Group Leadership Programs

So, we hope above factors have given you a good understanding of why BITSoM is upbeat about its placements. Assuming that things go as expected, what kind of salary numbers can you expect at BITSoM? While it is difficult to put exact numbers, a benchmarking with Top B-schools will be helpful.

Top MBA Placements: Setting a high benchmark
Based on latest Placements reports shared by Top B-schools with MBAUnivese.com, here are key data points:

Sr No
B-school
Average salaryper annum
1
IIMA
Rs 25.83 Lakhs (Placement 2020 Audited Figures)
2
IIMB
Rs 26.18 Lakhs (Placement 2020 Audited Figures)
3
IIMC
Rs 29.00 Lakhs
4
FMS Delhi
Rs 26.20 Lakhs
5
SPJIMR
Rs 26.06 Lakhs
6
IIML
Rs 26.00 Lakhs
7
XLRI
Rs 25.08 Lakhs
8
IIM Indore
Rs 23.60 Lakhs
9
MDI Gurgaon
Rs 23.15 Lakhs
10
IIMK
Rs 22.50 Lakhs

Source: MBAUniverse.com Placement 2021 Report

If BITSoM can get into Top 10 B-schools by Placements in 2023, it will certainly be a great outcome for the students.

Admission 2021 – Last Call
So, if above information has convinced you to apply for BITSoM MBA Admissions 2021, now is the right time! BITSoM has received 10,000 enquiries, and has already closed the Round 1 Application process. BITSoM Round 2 Applications will be closing on March 28th.

BITSoM has also informed MBAUniverse.com that students from the IITs, NITs, BITS Pilani, BIT Mesra, VJTI, VIT Vellore, DTU, KIITs, Manipal, UPES Dehradun, St Xavier’s, SRCC, KC College Mumbai, HR College Mumbai, St. Francis College for Women, Miranda House, Jesus and Mary College New Delhi, SRCC New Delhi, NMIMS, Christ University, Mount Carmel College, Loyola College, Jadavpur University, Symbiosis University, NYU’s Abu Dhabi campus, McGill University in Canada and Northeastern University in the US have already applied for BITSoM MBA 2021.

Round 1 application also saw students applying from diverse backgrounds like MBBS, Pharmacy, Architecture, Hospitality, Tourism, Fashion, Humanities and more.

Next Steps:

Stay tuned to MBAUniverse.com for more updates on BITS School of Management, Mumbai