How the rankings & scores were calculated
Since 2010, MBAUniverse.com conducts its annual MBAUniverse.com B-school Ranking which is recognized as one of India’s most credible MBA Ranking and used by 150,000+ MBA aspirants for their MBA Admission decision. This Ranking comprehensively evaluates a B-school on Input (quality/profile of students admitted), Processes (teaching, learning processes adopted, accreditation etc), Output (placements, entrepreneurship etc). As a trend setter, this ranking has always used only hard-facts and objective-data for rankings. No perception surveys or qualitative assessments, which often lacks credibility and transparency, have been used.
MBAUniverse.com Rankings USPs are:
- One of India’s most credible & ‘toughest’ Ranking: All top B-schools including IIMs, IIT- DOMs, PGDM B-schools and Private Universities are ranked in this highly competitive Ranking. Since all major B-schools are ranked, a genuine comparison of all B-schools is possible. To ensure comparison, published data for some public institutions is referred.
- Quantitative Analysis, no role for ‘Perceptions’: Ever since the start, this Ranking is based purely on Quantitative Data without any weightage for ‘Perceptions’, making it a truly objective Ranking. Many other rankings have followed MBAUniverse.com ranking in this regard.
- Holistic Assessment Framework: Since its inception, this Ranking uses a holistic assessments framework that measures the triad of ‘Input’, ‘Process’, and ‘Outcome’ of a management school. Methodology is benchmarked to top Rankings like NIRF in India and Financial Times internationally.
- Widest reach: This ranking reaches to 10,000+ Educators, Corporate Leaders & Influencers who use this for evaluations and benchmarking. Ranking reaches 150,000+ MBA aspirants and helps them apply to best-fit B-schools.
- Weightage to Top Global Accreditation: In line with growing importance of global accreditation, a definitive weightage was given to Top 3 International Accreditations i.e. AACSB, EFMD’s EQUIS and AMBA. Survey notes that growing number of Indian B-schools featured in this ranking have earned these prestigious accreditations
Research Methodology Overview
The Ranking process started in September 2022, and was covered in four phases:
- Step 1: Development of Questionnaire & Invitation for Participation
- Step 2: Data Collection & Verification
- Step 3: Statistical Analysis & Weightage Allocation
- Step 4: Finalization of Rankings
Step 1: Development of Questionnaire & Invitation for Participation
Based on learnings from previous rankings, a draft questionnaire was developed. A 17-page Questionnaire was finalized and was circulated on September 1 for participation to Top 200 B-school. For wider participation, MBAUniverse.com sent emails to 400+ B-schools inviting their participation.
Following Eligibility Criteria was clearly announced for participation:
- B-school must offer an MBA/PGDM that is recognized by UGC or AICTE or any other competent Regulatory Body by Ministry of HRD, Government of India
- Must offer a 2-year Full Time MBA/PGDM Program
- A minimum of 3 batches must have graduated for the 2-year MBA/PGDM Program
- Director/Head of Institution must be willing to endorse and accept responsibility for all data submitted.
- 1 Year MBA Programs offered ISB Hyderabad and some other B-schools were not considered for this ranking
Step 2: Data collection & Verification
Data collection and verification process was conducted from September till October. Survey was well received by leading B-schools and saw participation from almost all Top B-schools. Data for a few top IIMs and public institution, who didn’t submit their data in time, was taken from MHRD’s NIRF Ranking data and information available on their official website.
Step 3: Statistical Analysis & Allocation of Weightages
Based on Factor Analysis, following weightages have been assigned to each of the three clusters.
Student Quality & Diversity
Faculty, Academics, Research, International Accreditation, ‘Teaching-Learning with Technology’ Initiatives
Placements & Start-Ups
A. ‘Input’ Criteria and Weightage – 26% Weightage
Quality of the Students who are admitted to a B-school has a major impact on academic engagement, peer learning and the eventual outcomes. A weightage of 26% (260 Marks) was assigned to this criterion. This was broken down into following sub-parameters with given weightages:
- Entrance Exam performance: Batch Cut-off Score for CAT (and/or other Entrance-exam test scores) was given the highest 50% weightage within this parameter.
- Student Selectivity: Total Number of Applications per Seat was given 30% weightage.
- Past Academic Credentials/ Batch Profile: This parameter was given 20% weightage.
B. ‘Process’ Criteria and Weightage – 39% Weightage
Academic Resources available and Academic Processes adopted at a B-school determine the Outcomes. Highest weightage of 39% was assigned to this criterion. This was broken down into following sub-parameters with given weightages:
- Faculty Size and Profile: Total Faculty available and Faculty Profile were given highest 40% weightage.
- Research & Publication: Faculty Publication in Foreign and Indian Journals of repute were given 20% weightage. Global Indexes and Indian Citation Index were used for validation.
- Accreditation: In line with growing importance of global accreditation, a 20% weightage was given to top 3 International Accreditations i.e. AACSB, EFMD’s EQUIS and AMBA, and National Accreditation i.e. NBA or NAAC. No other International Accreditation agency was given any weightage.
- Teaching-Learning with Technology’ effectiveness: In wake of COVID 19, with a focus on understanding ‘Teaching-Learning with Technology’ effectiveness, a new variable has been added. Survey looked at following variables:
- Investments in Online Class Delivery Platforms per student
- Investments in Online Learning Resources per student
- Investments in Faculty Development and Training aimed to equip Faculty to Teach Online A 15% weightage was awarded to this variable.
- Campus Physical Infrastructure: This parameter was assigned a lower 5% Weightage, as compared to other rankings, as emphasis of MBA education moves from physical infrastructure to digital learning.
C. ‘Output’ Criteria and Weightage – 35% Weightage
This ranking aims to be the authentic guide for MBA applicants/prospective students in deciding which B-school to apply and admit. Hence, Ranking measured Outcomes/Output on two broad parameters as below. Overall weightage of 35% was assigned to this criterion.
- Placements: Salary Indicators like Average Salary of the Batch, Percentage Placement, International Placements achieved were given 80% weightage.
- Start Ups and Entrepreneurship Outcomes: Recognizing the growing national importance and emphasis on Job Creators, rather than Job seekers from B-schools, MBA Start-ups originating from B-school campuses were given 20% weightage.
Following a completely data-driven methodology, above parameters and weightages were used to arrive at rankings.
Step 4: Release of Rankings
Final Rankings and Analysis was shared with three Subject Experts, two of whom are former Directors for Top B-schools, for consultations. After reviewing their comments and feedback, Rankings were finalized for release on January 1, 2022.