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.
- 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.
- 2021 Focus on ‘Teaching-Learning with Technology’: This year, a new section on assessment of efforts related to ‘Teaching-Learning with Technology’ has been added to understand how B-schools are adapting to COVID 19 challenges to continue effective program delivery.
- Only Flagship MBA Considered: Rankings are based only on Flagship 2-Year MBA/PGDM Program of each B-School.
Research Methodology Overview
The Ranking process started in October 2020, 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 20-page Questionnaire was finalized and was circulated on October 15 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.
Step 2: Data collection & Verification
Data collection and verification process was conducted from October 15 till December 7. 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 as on Nov 30, 2020.
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, COVID 19 ‘Teaching-Learning with Technology’ Initiatives
Placements & Start-Ups
A. ‘Input’ Criteria and Weightage – 28% 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 28% (280 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 – 33% 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 33% 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, who are former IIM Directors, for consultations. After incorporating comments and feedback, Rankings were finalized for release on January 1, 2021.