Mostly students in India spell ambition as MBA. That’s right, this masters course in business administration and management is one of the most sought out courses by students as well as recruiters. With bachelors’ degree in engineering becoming the new higher secondary education, a MBA degree has become a “must-have” in the minds of many Indian students and parents. Wider scope, more lucrative jobs and global exposure has made this course all the more irresistible. Many Top B-schools in India, with its diverse syllabus structure, expertise of the teachers and overall cost-effectiveness of the course, has become one of favorite MBA destinations in the global arena
What to study
There are generally two types of students who pursue their full-time management education in India. The first type comprises of students who appear for their MBA entrance examination as soon as they finish their bachelors’ degree. These students have little – nil industry experience and they appear for various Indian entrance examinations like CAT, XAT etc for this 24 months course. The second category is composed of professionals from various industries, with work experience greater than 2 years, applying for their MBA degree. The rising trend in people opting to gain some industry experience before pursuing masters’ degree has lead to the introduction of a customized 1 year MBA program in many leading institutions in the country. This course period usually spans between 12-15 months and the globally acclaimed GMAT (Graduate Management Admission Test) scores are widely taken into consideration.
Where to study
As described earlier, there are many Indian B-schools that are considered to be equal or superior in quality with its foreign counterparts. To study in these schools could be commonly found in almost every MBA aspirants’ wish list. Based on the rankings (global and Indian), infrastructure and placement records, we have come up with the list of the top 5 B schools in India.
The grand old Indian Institute of Management could be considered as the mother of B-schools in the country. Founded from the year 1961, these institutions have consistently been producing top-quality management professionals to the world. Currently there are 19 IIMs all over the country and the proposal for 6 new IIMs has already been established. Among the 19 schools, IIM-Ahmadabad has been the highest ranked school for many years closely followed by IIM- Bangalore, IIM- Kolkata, IIM-Lucknow and IIM-Kozhikode. A wide variety of full-time and part-time management courses are offered in these institutions and it primarily considers CAT scores.
The Faculty of Management Studies (FMS) is one the oldest (Established in 1954) and the most prestigious institutions for management education in India. Located in Delhi, this school selects only a limited and elite group of students and its induction process is jokingly said to be “a rejection process” rather than “a selection process”. CAT score is considered for the admission and this school offers full-time, executive, doctoral and bachelors’ degree in management studies. This institution is also considered to offer the best ROI (Return of Investment) in the country.
Established in 1949 as Xavier Labor Relations Institute, Xavier School of Management Jamshedpur has been consistently considered as one among the top 5 B-schools in India. This school takes student based on the exclusively conducted XAT (Xavier Aptitude Test). The XAT scores are also accepted by many other b-schools in the country. XLRI is known for its Human Resource Management (HRM) course and General Management Program (GMAT preferred 15 months MBA course) along with its flagship Business Management (BM) course.
S.P. Jain Institute of Management & Research is one of the premier management Institutes in the country. Located in Mumbai, this institute was established in the year 1981 trains over 700 students under its various part-time and full-time management programs every year. This institute accepts students based on their CAT or GMAT scores.
Indian School of Business, a private business school, is the first business school in south Asia to be accredited by the Association of Advance Collegiate Schools of Business. This school has two campuses, Hyderabad and Mohali, and has around 850 students graduating every year. Founded in the year 2001, this b-school is one of the first set of schools to provide only an exclusive 1 year program for experienced professionals in the country. It accepts only GMAT scores for its admission process. This school is one of the top colleges in the country to have management programs with a more modern and international approach.