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 have been used in this survey.
MBAUniverse.com Rankings USPs are:
- One of India’s most credible & ‘toughest’ Rankings: All top B-schools including IIMs, IIT- DOMs, PGDM B-schools, Public & 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 Benchmarking: Researchers working on this survey review methodologies adopted by Rankings like NIRF in India and Financial Times internationally. They also review academic research published in this area globally.
- 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 2 International Accreditations i.e. AACSB and EFMD’s EQUIS. However, to ensure credibility, no other international accreditations have been given any weightage.
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
- 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 16-page Questionnaire was finalized and was circulated 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 equivalent 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 mid-November. 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 was supplemented from MHRD’s NIRF Ranking data and official website.
Step 3: Statistical Analysis & Allocation of Weightages
Factor analysis was used to reduce a large number of variables into fewer numbers of factors. This technique extracted ‘maximum common variance’ from all variables and slotted them into a common score. As an index of all variables, we used this score for further analysis. Based on Factor Analysis, following weightages have been assigned to each of the three clusters:
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Clusters/Factors
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Key Criteria/Variables
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Weightage (%)
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Input
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Student Quality & Diversity
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21
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Entrance Exam performance: 48% weightage
Student Selectivity: 32.5% weightage.
Academic Profile: 19.5%
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|
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Process
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Faculty, Academics, Research, International Accreditation
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39
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|
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Faculty Size and Profile: 47% weightage
Research & Publication: 27.5% weightage
International Accreditation: 13.5% weightage
Digital Teaching – Learning Resources & Implementation: 6.5% Weightage
Campus Physical Infrastructure: 5.5% Weightage
|
|
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Outcome
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Career Outcomes & Entrepreneurship
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40
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Placements Quality and Numbers: 82.5% weightage
Entrepreneurship Outcomes: 17.5% weightage.
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A. ‘Input’ Criteria and Weightage – 21% 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 21% (210 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 48% weightage within this parameter.
- Student Selectivity: Total Number of Applications per Seat was given 32.5% weightage.
- Academic Profile/ Batch Profile: This parameter was given 19.5% 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 43% 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 47% weightage.
- Research & Publication: Faculty Publication in Foreign and Indian Journals of repute were given 27.5% weightage. Global Indexes and Indian Citation Index were used for validation.
- International Accreditation: In line with growing importance of global accreditation, a 13.5% weightage was given to top 3 International Accreditations i.e. AACSB, EFMD’s EQUIS and AMBA. No other International Accreditation agency was given any weightage.
- Digital Teaching – Learning Resources & Implementation: A 6.5% weightage was given
- Campus Physical Infrastructure: This parameter was assigned a lower 5.5% Weightage, as compared to other rankings, as emphasis of MBA education moves from physical infrastructure to digital learning.
C. ‘Output’ Criteria and Weightage – 40 % 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 36% was assigned to this criterion.
- Placements: Salary Indicators like Average Salary of the Batch, Percentage Placement, International Placements achieved were given 82.5% weightage.
- 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 17.5% 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 were shared with three Subject Experts, two of whom are former Directors of Top B-schools, for consultations. After reviewing their comments and feedback, Rankings were finalized for release in late December, 2023.
