Is SPJIMR really at par with Top IIMs? Check analysis on 9 factors including Placements, Fee, ROI, International Rankings

MBAUniverse.com News Desk |
October 20, 2020
Mumbai based SPJIMR is one B-school that is ready to rub shoulders with the top three IIMs namely IIM Ahmedabad, IIM Bangalore and IIM Calcutta. SPJIMR has added another feather to its crown when Financial Times Global MIM Rankings 2020, one of the most prestigious global rankings, ranked SPJIMR at par with IIM Bangalore. This MBAUniverse.com article compares SPJIMR with Top IIMs on key parameters with latest data
Is SPJIMR really at par with Top IIMs

Indeed, the top three IIMs namely IIM Ahmedabad, IIM Bangalore and IIM Calcutta are a preferred choice of CAT Toppers, but Mumbai based SPJIMR is one B-school that is perhaps ready to rub shoulders with these giants. Recently, SPJIMR has added another feather to its crown when Financial Times Global MIM Rankings 2020, one of the most prestigious global rankings, ranked SPJIMR at par with IIM Bangalore. This MBAUniverse.com article compares SPJIMR with Top  IIMs on key parameters with latest data. The results are revealing! Read on for an indepth comparison.

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SPJIMR & IIMs: 9 Key Comparison Factors
The key factors that put SPJIMR Mumbai into top league B-schools, along with IIM Ahmedabad, IIM Bangalore, IIM Calcutta include:

  1. Curriculum & Pedagogy
  2. Unique Selection Process
  3. Top International Rankings & Accreditations
  4. High Placements
  5. Low Fee
  6. Great ROI
  7. Locational Advantage
  8. Small (batch size) is beautiful
  9. Preferred choice of Top Aspirants

MBAUniverse.com reviews these key reasons that put SPJIMR into top B-school league in India.

1. Unique Curriculum & Pedagogy
While IQ (intellectual quotient) is important, EQ is equally important for success in business and professional life. “As much as 80% of adult success comes from EQ,” said Daniel Goleman, the internationally known psychologist who brought EQ (emotional quotient) to the center stage of leadership development with his 1995 book, Emotional Intelligence.

SPJIMR has a unique curriculum and pedagogy that nurtures not just IQ but also EQ, thus creatingsocially conscious managers.In addition to regular courses that all leading B-schools offer, SPJIMR takes five key initiatives in‘Non-Classroom Learning’ area which include ADMAP, DOCC,Abyudaya, PG Lab and Science of Spirituality. These unique course curriculum at SPJIMR offers three distinct levels of learning:

  • Self-awareness: How do you understand yourself?
  • Self-management: How do you reflect this awareness in your behaviour and interactions with others (inter personal) and with yourself (intra personal)?
  • Societal awareness: How do you understand societal systems and needs, like the idea of India along with the idea of Bharat? 

CAT Toppers, who have selected SPJIMR over many IIMs and other top B-schools, rate these unique courses very high and strongly recommend them.

For instance, Kaiwalya Deshpande, SPJIMR student who scored 98.7 percentile in CAT 2019 and was offered admission by IIM Indore, Shillong, MDI, IIT B, all CAP IIMs says, “SPJIMR’s teaching pedagogy, its unique programs like the Abhuydaya, DOCC, and bright prospects. SPJIMR fit well into my idea of, how I would want to pursue an MBA, and what knowledge gaps I needed to fill.”

2. Profile Based Admissions – 2021 Updates
As part of the unique selection process, SPJIMR does Profile Based Shortlisting & Early PI rounds. A candidate will be considered for SPJIMR admission on the basis of his/her profile while the CAT 2020 exam scores will be taken into account when the results are declared.

So, you may not have scored a high 98-99 percentile in CAT, butif you have the desired qualities with good academic profile and therequired skill set, you may be  the right candidate that SPJIMR is looking for.

Commenting on the selection process, Prof Bindu Kulkarni, Head Central Admissions at SPJIMR said, “We look for aspirants who are grounded with a strong and consistent academic background, relevant work experience in the chosen area of specialization, an ability to be a team player and have the desire to make a difference. Diversity in their academics as well as versatility through achievements is desired.”

SPJIMR has a selection process that is done in two phases. In the first phase (profile-based shortlisting) applicants are shortlisted on the basis of their profiles before submission of CAT exam scores. Applicants shortlisted in the first list are called for an early interview as well. They are however, expected to meet the qualifying scores in at least one of the entrance exams as a qualifier.

Candidates also benefit from having early interviews as it avoids overlapping with other interview calls during the admissions season. To the Institute, it gives an opportunity to stagger interviews and ensure that the interview process remains robust even though numbers being interviewed are large.

The second phase of selection process considers both – profile as well as entrance test score. In the second phase, candidates are shortlisted for interviews on the basis of their profiles as well as their performance in the entrance tests after the results are announced.

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Sriza Ghosh, who scored 98.62 percentile in CAT 2019 and is a SPJIMR Student of PGDM 2020-22 batch, says, “The batch composition of SPJIMR is very diverse and the peer learning is infinite. Profile based calls ensure that students prodigious students make it to the batch. The holistic learning experience that SPJIMR provides is akin to none other as SPJIMR is known to focus on creating efficient managers and not rote learners.”

Another key feature in the SPJIMR admission process is that the institute gives the opportunity to the applicants to select two areas of specialization out of four areas namely Finance, Information Management, Marketing and Operations & Supply Chain at the application stage. Application process for admission 2021 is open till November 27, 2020.

Hemang Syamantakmani Pandit, who scored 99.18 percentile in CAT 2019 and preferred SPJIMR to nine IIMs, IIFT and NMIMS says, “Coming here is a dream for many, but what set SPJIMR apart for me was their focus on specialisations from the entry stage itself. They gave admits to candidates specifically for a chosen stream which made the whole program specialised, something that I was looking for.

This year SPJIMR will not accept XAT 2021 exam scores and will accept only CAT 2020 and GMAT exam scores. The CAT 2020 cut offs are also kept low at 85 percentile. The key differentiator is candidate’s profile that includes excellent academics from class 10 onwards, Qualitative aspects of work experience among others.Read More

3. International Rankings & Accreditations
As a result of significant improvements at SPJIMR, the B-school has earned top international Rankings and Accreditations.

FT Global MIM Rankings 2020: SPJIMR & IIM Bangalore at Par
Financial Times (FT) Global Masters in Management (MIM) Rankings 2020, have ranked PGDM program of SPJIMR Mumbai and IIM Bangalore’s PGPM at # 3 position in India.

Indian Institute of Management (IIM) Ahmedabad’s Post Graduate Programme in Management (PGPM) program is the top ranked program in India, closely followed by IIM Calcutta’s PGPM. After IIMA and IIMC, PGDM program of SP Jain Institute of Management & Research (SPJIMR) Mumbai and IIM Bangalore’s PGPM are tied together at No 3 position. All four B-schools are ranked amongst Top 50 globally. IIM Udaipur’s PGPM is ranked at #5 from India, and ranked #72 globally. Only five B-schools from India are ranked on this prestigious league table.

QS Global Rankings: Top Ranked B-School
QS Global Ranking has ranked SPJIMR in Top 200 B-schools globally, and amongst Top 5 B-schools in India. SPJIMR Mumbai has been one of the five Indian institutes in the QS global top 230 B-schools for four years running. This year, SPJIMR has moved into the top 200.

Top Indian rankings too put SPJIMR in top league. SPJIMR has been ranked #5 in MBAUniverse.com Rankings 2019-20.

AACSB Accredited: Among Top 5% Global B-Schools
SPJIMR has become one of the few B-schools in India to have earned prestigious international accreditation from the AACSB (Association to Advance Collegiate Schools of Business) and joins the league of top 5% global B-schools which are AACSB Accredited. AACSB Accreditation is awarded to the B-schools that have demonstrated excellence in all areas, including teaching, research, curricula development, and student learning.

AMBA Accreditation: Two Year & One Year Programs Accredited
SPJIMR also enjoys the International Accreditation from AMBA (Association of MBAs). AMBA, the UK-based global accreditation agency has accorded accreditation to the various 2 Year and 1 Year Management programmes of SPJIMR Mumbai.

Commenting on the development, Dr Ranjan Banerjee, Dean SPJIMR, said, “We are steadily moving up in most national and international rankings. We entered the QS Global world rankings for the first time four years back, and are one of five Indian institutes to make it to this list. We have moved up in these rankings this year. Recently released FT Rankings 2020 underscore our strengths.”

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4. SPJIMR Placements, at par with Top IIMs
SPJIMR is one of the top B-schools in India that conclude the final placements the fastest, and at par with top IIMs. The Final Placements 2020 at SPJIMR Mumbai concluded with a rise in average salary to Rs.26.36 lakhs!

SPJIMR Vs IIMs’Placements:A Comparison
A quick comparison of placements with top ranked IIMs will reveal that Placements at SPJIMR are not only very close to IIM Ahmedabad and IIM Calcutta Placements, they are higher than other leading IIMs like IIM Bangalore, IIM Lucknow, IIM Indore and IIM Kozhikode.

B-school
Placement 2020 (Avg Salary in Rs. Lakhs)
IIM Ahmedabad
26.13
IIM Bangalore
26.18
IIM Calcutta
28.00
IIM Lucknow
24.25
SPJIMR Mumbai
26.36
IIM Indore
22.92
IIM Kozhikode
23.08

Source: MBAUniverse.com Analysis

109 students of the 238 participating batch in Placement 2020 took up PPO/PPI opportunities through their autumn internship with leading companies. 122 companies participated in placement 2020 as against 111 last year. “Our placement outcomes continue to improve every year, and in tangible terms are competitive with the top three IIMs and superior to other institutes,” asserts Dr Ranjan Banerjee, Dean, SPJIMR.

5. SPJIMR Fee: Lower than Top IIMs
The key factor that is top priority for every MBA aspirant is the Program Fee. Inspite of campus in Mumbai, the most expensive cosmopolitan in India, and offering many unique courses that require low student-faculty ratio, SPJIMR Mumbai has consciously offered its program at moderate fee as compared to top IIMs and other top MBA colleges in India. This is one of the key factors that drive the candidates to choose SPJIMR over IIMs and other top institutes.

Top B-School
Program Fee (Rs. in lakhs)
IIM Ahmedabad
23.00
IIM Bangalore
23.20
IIM Calcutta
22.60
MDI Gurgaon
21.34
SPJIMR Mumbai
17.50

6. Great RoI for Students at SPJIMR
SPJIMR Mumbai offers high Return on Investment. With the low fee and high placements, the students at SPJIMR recover their fees in fewer months than at many top IIMs as shared in the table below:

B-School
Fee (Rs. in lakhs)
Average Placement (Rs. In lakhs)
Number of Months to Recover Your Fees
IIM Ahmedabad
23.00
26.13
10 to 11 months
IIM Bangalore
23.20
26.18
10 to 11 months
IIM Calcutta
22.60
28.00
09 to 10 months
SPJIMR Mumbai
17.50
26.36
07 to 08 months
IIM Lucknow
19.25
24.25
09 to 10 months
IIM Kozhikode
19.00
23.08
09 to 10 months

Source: MBAUniverse.com Analysis

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7. SPJIMR Location: Advantage for Students
Being in the Financialcapital of India, Mumbai, offers a lot of advantages for SPJIMR students. Easy access to CXOs and practitioners makes learning at SPJIMR more contemporary and closer to practice. Many IIMs and other B-schools do not find such a location advantage that has best industry connect facility.

8. Small Batch Size
This is a very important and an often-ignoredfactor. While top IIMs and private B-schools have MBA/PGDM batch sizes in the 400-500 range, the batch size at SPJIMR is only 240 students. This offers a huge advantage for students like easier access and proximity to faculty and higher bonding amongst the batch.

The flagship PGDM 2021-23 batch at SPJIMR has an intake of 240 students for Indian Nationals. Additional 36 seats are available for PIO/OCI and Foreign Nationals, and they further add to the diversity. The smaller batch size helps in faster Placements, better roles and higher average salary.

Preferred Choice of Aspirants
For factors above, SPJIMR is one of the most preferred B-school in India today. MBAUniverse.com spoke to Candidates with high 98 and 99+ CAT percentile and with final admits from Top B-schools on why they choose this B-schools. Here are some snippets...

Hari Ashwath Ramachandran, a CAT topper with 99.44 percentile chose SPJIMR above MDI and IIM Lucknow because it has unique strengths and said  “SPJIMR was the one B-School that resonated with me. I liked the entire process that was followed, from the way Adcom managed the process, to the uniqueness of the process itself (Group Interviews, as opposed to PI, which all other institutes were accustomed to doing). The Psychometric and WAT test was also different in comparison. GIs gave me an opportunity to actually see my peers’ decision making process, or to work in collaboration with one another during the process.”

Sriza Ghosh with CAT percentile of 98.62 converted IIM Indore, 9 CAP participating IIMs, IITs, MDI, NITIE apart from SPJIMR, shared, “Researching about the curriculums of my converts, I realised that SPJIMR focuses on both in-classroom learning and outbound learning which is very lucrative. Besides this, I consulted people working closely with the industry, they all urged me to go for SPJIMR owing to its reputation in the industry.”

Hemang Syamantakmani Pandit, who scored 99.18 percentile in CAT, said, “initiatives like ADMAP and social internship during DoCC proved to be a major motivator for me.”

So, looking at facts and analysis above, if you want to apply for SPJIMR for Admissions 2021, note that its Application process closes sharp on November 27, and Application Form is available on this link.Best of luck!

Stay tuned to MBAUniverse.com for more updates on IIMs and Top B-schools in India.