INDIA S TOP B-SCHOOLS SALARY SURVEY REPORT 2011

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1 INDIA S BEST SCHOOLS INDIA S TOP B-SCHOOLS SALARY SURVEY REPORT 2011 TOP 10 B-Schools with Highest Average Salaries for IIM-A Ahmedabad IIM-B ISB Hyderabad IIM-C XLRI Jamshedpur IIM-L Lucknow JBIMS S.P.Jain MDI IBS Hyderabad Hyderabad 9.49 When Mr.Satish Pradhan, Tata Sons Chief (Group HR), drew parallel between placements at IIMs and the Pushkar cattle fair he indeed wanted to highlight the importance of compensation as academic sessions of management institutions came to close. Without taking any stand on his viewpoint, we can safely state that compensation holds a significant position in a student s career, in assessing the overall quality of an institute. [ In this only one of its kind survey, we emphasized on the lowest common denominator of all management courses -SALARY. [ brings to you the third edition of B-Schools Salary Survey Report that reflects the collective outcome of 23,481 management students in deciding the hierarchy of most preferred business schools of India

2 Over the years, demand for management professionals has been on the rise and this has created a demand supply gap. Though the premier management institutions have been producing professionals with immense capability and talent but that is not enough. Business groups were quick to identify this shortfall and hence came an era of B-Schools popping across the country to drive the supply of management graduates for India Inc. With so many options available today, it becomes a bigger challenge for the students and the organizations, looking for quality professionals, to make a well informed decision. We at, with expertise in market research, understand that along with the infrastructure, faculty, fee structure, and other criteria, one of the most significant parameters for evaluating the quality of education is by analyzing performance of its graduates in the industry. In turn, this can be evaluated by the pay package that the students have been offered by the corporate world in recent times. Through this report we intend to showcase the earning potential of graduates for Top B-Schools. To achieve this we have listed the rankings on a single parameter, i.e., Compensation Offered. Top 75 B-Schools with highest average salaries for 2011 Batch 11 Faculty of Management Studies Indian Institute of Foreign Trade National Institute of Industrial Engineering Indian Institute of Management Indore Indore Indian Institute of Management Khozikode Khozikode Shailesj J Mehta SOM IIT Narsee Monjee Institute of Management Studies Xavier Institute of Management Bhuvneshwar Vinod Gupta School of Management IIT Kharagpur Kharagpur Great Lakes Institute of Management Chennai IBS Goa Institute of Management Goa 7.96

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4 Top 75 B-Schools with highest average salaries for 2011Batch 23 K J Somaiya Institute of Management Alliance University SIBM International Management Institute Institute of Management and Technology Ghaziabad Ghaziabad IBS T A Pai Management Institute Manipal Bharathidasan Institute of Management Tiruchirappalli Nirma Institute of Management Ahmedabad Institute of Rural Management Anand Anand Welingkar Institute of Management Asian School of Business Management Bhuvneshwar Accurate Institute of Tech & Management International School of Management Excellence & 5.78 With the rising popularity of an MBA degree as one of the best post graduate courses worldwide, there are now practically thousands of business schools and an equal number of MBA programs available to those who wish to obtain an MBA degree. With such a huge and diversified choice, it becomes very difficult to know which program is right for you. The first obvious choice of aspiring students is IIMs, but less than 2% of fortunate ones of Two Lakh aspirants for CAT make it to IIMs and other primer institutes. Remaining 98% of students faces the tough dilemma, which college to choose for doing an MBA? Management schools today are striving to provide a holistic education through practical business skills, on-the-job training, real-life case studies, business scenario analysis, sensible projects and assignments, and soft skills development. The result is a management graduate who can bring value to the organization he joins in from the day one of the job.

5 Top 75 B-Schools with highest average salaries for 2011 Batch 37 IBS Xavier Institute of Management & Entrepreneurship Loyola Institute of Business Administration Chennai G L Bajaj Institute of Management & Research National Institute for Technology Tiruchirappalli IBS Institute for Technology & Management Kirloskar Institute of Advanced Management Studies Karnataka IBS TERI University GITAM Institute of Foreign Trade Visakhapatnam Balaji Institute of Modern Management IBS Ahmedabad Ahmedabad IFIM Business School SDM Institute of Management Development Mysore Jaypee Business School University Business School Chandigarh Indira Institute of Management Amity Business School Noida Amrita Business School Coimbatore PSG Institute of Management Coimbatore Acharya Institute of Management Studies 4.08

6 A management degree definitely enhances employability and also promises higher salaries when compared to a professional degree; more so, if you graduate from a tier 1 college. But putting a realistic number to this factor is difficult for students and they are unable to decide which route to take when it comes to selecting the B-school for further education. Namita Yadav, who passed out from Amity Business School in 2008, says, I wish we had a way to know which college will offer us the best career opportunities and salaries after course completion, back in Paying the high fees of B-schools is a major investment for the Indian middle class. Although, we can take education loan, but we can never be sure how much we would be able to earn once we start working. Top 75 B-Schools with highest average salaries for 2011 Batch 59 School of Communication & Management Studies Kochi Bharati Vidyapeeth University Institute of Management & research MET Institute of Management IILM Institute for Higher Education International School of Business and Media Institute of Health Management Research Jaipur ITM Birla Institute of Technology Ranchi ITM Warangal Warangal ICBM - School of Business Excellence Hyderabad Institute of Management Studies Ghaziabad NIILM Centre for Management Studies Badruka Institute Of Foreign Trade Hyderabad KIIT University, School of Management Bhuvneshwar Fostiima Business School IISWBM 3.38

7 Dr.Biswajeet Pattanayak has come to be recognized as a management guru with a radical and unconventional approach to management education. Getting critical acclaim internationally for his innovations, he is a man who practices what he preaches. Leaving a cozy job in the IIMs to take up the cause of quality management education in Orissa, Professor Pattanayak has set up his Management Gurukul - Asian School of Business Management (ASBM). We bring you the excerpts of interview with Dr.Biswajeet Pattanayak Director, ASBM. What is the difference between conventional management and modern management? Dr.Pattanayak: While the core management concepts have remained more or less the same, there has been a paradigm shift in the application of those concepts. Over the years, many new perspectives have emerged that turns the conventional wisdom on its head. For example, there was a time when there was so much emphasis on the line of command. But in modern times, we talk about self-control rather than the command from the above. Similarly, conflicts in organizations are being viewed in a productive sense, rather than just an undesirable thing. Take leadership, which is so important for any organization. Modern management advocates that the leader be a doer also, not just a preacher. Teams are very important now days, we have moved from individual excellence to team excellence. Dr.Biswajeet Pattanayak Director, ASBM. What are your views about management education in India? And why is there a craze for it among the students? Dr.Pattanayak: Though the standard of management education in a majority of B-Schools in India as of now is dismal, I look at management education in India with great optimism. The craze for management education among the youth and practicing professionals, who are without a formal degree in management is understandable in an economy like India, which is mostly employment-driven, not entrepreneurship-driven. One may be an outstanding engineer, computer expert, doctor or anything, but without a proper management orientation, he or she may not be able to lead his/her team or organization effectively, and consequently, progress very far in the career path. In short, management education gives bright career-seekers ample opportunities to take challenging and rewarding assignments. Is cracking CAT the end of everything? How are MBAs other than the IIMs evaluated? Dr.Pattanayak: No, CAT is not the end, it is just a passport to enter into IIMs and the top B-Schools who accept CAT scores. It is true that most of the IIMs are comparable to global b-schools like Harvard, Wharton, etc. But then time has come to look beyond the IIMs set up by the Government and brings up some of the wellintentioned b-schools in the private sector as alternatives to the IIMs. Why? The answer is not difficult to find. Out of the huge number of CAT aspirants, around fifteen hundred will make it to the IIMs. Majority of the rest, who miss the bus by a whisker, deserve b-schools comparable to IIMs. So, we need many more IIMs! As it is not possible for the Government to set up many more of these venerable institutes, I have taken it as a mission to bring Asian Sschool ofbusiness Management (ASBM) to the level of IIMs, so that all those bright students who miss the IIMs can look to others to get the comparable quality education as they would have got in IIMs.

8 ASBM Campus - Bhuvaneshwar What qualities are required to be a good manager for a fresh MBA graduate? Dr.Pattanayak: The foremost qualities a management graduate must possess are high positive attitude, openness to learn continuously, ability to work in a team, ability to predict change, and courage and potential to march ahead of change. What do the recruiters look for in a fresh MBA graduate to appoint him? Dr.Pattanayak: In addition to the above qualities, Iindustry looks for action leaders, not just managers. Leaders, who are self-motivated and have the ability to transform their fellow team mates from unwilling and unmotivated to willing and motivated and lead them to deliver winning performances and achieve objectives,. They must also be sensitive to the ever-changing environment and must have a strong commitment to ethical practices and good governance. This last quality is very pertinent in a time when we have witnessed the sudden collapse of corporate giants like Enron and Satyam. What are the job opportunities for an MBA graduate and what are the specific areas where they can be placed in different sectors of industries? Dr. Pattanayak: MBAs, due to their all-round training in managing people, processes, money and material, can be fitted in any type of job in any type of organization that is progressive and result-oriented. Slowly but steadily, management graduates are replacing traditional graduates for management and administrative responsibilities. A management brings in the systematic and scientific way of managing things for the desired results. How ASBM is different from other B-Schools? Dr.Pattanayak: Asian School of Business Management is my dream child which has been created with the philosophy of IIM to provide the best quality management education to the students those who had dreamt to join IIM but could not and looking for a school next to IIMs. We are committed to create action leaders for the new generation organizations with a holistic personality and a high positive attitude. We are different from others in terms of our philosophy, practices and approach of disseminating management education in shaping the young and vibrant mind and making them doers and motivators at work. The faculty and leaders who have proved themselves as outstanding achievers in their profession drive this school. This is the most different feature of ASBM, which makes it stands- it out from other institutions.

9 Bright Prospects for New Generation of B-Schools With every management institute eyeing the top position few of them have been making a consistent effort and have been successful in their attempts to some extent by imparting quality education and command a respectable salaries for its graduates. To name a few institutes Asian School of Business Management and Accurate Institute of Technology & Management have worked with a commitment to create action leaders for the new generation organizations with positive attitude. In our report we bring you an overview of India s best New Generation of B-Schools that have evolved as top business management learning centers over short span of time and playing a significant role in creating entrepreneurs and innovators. This report will help MBA aspirants to come out of their dilemma and make the right decision. Top 30 New Generation of B-Schools 1 Great Lakes Institute of Management Chennai IBS Alliance University IBS Asian School of Business Management Bhuvneshwar Accurate Institute of Technology & Management International School of Management Excellence & IBS G L Bajaj Institute of Management & Research IBS IBS TERI University 4.49

10 Top 30 New Generation of B-Schools 13 Balaji Institute of Modern Management IBS Ahmedabad Ahmedabad IFIM Business School Jaypee Business School University Business School Chandigarh Indira Institute of Management Amity Business School Noida Amrita Business School Coimbatore IILM Institute for Higher Education International School of Business and Media Institute of Health Management Research Jaipur ITM ITM Warangal Warangal ICBM - School of Business Excellence Hyderabad NIILM Centre for Management Studies Badruka Institute Of Foreign Trade Hyderabad Fostiima Business School 3.41

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12 Zonal Rankings with Best Average Salaries for 2011 Top 10 B-Schools in North India 1 Accurate Institute of Tech & Mgmt G L Bajaj Institute of Management & Research IBS TERI University Jaypee Business School University Business School Chandigarh Amity Business School Noida IILM Institute for Higher Education NIILM Centre for Management Studies 3.55 Top 10 B-Schools in South India 1 Great Lakes Institute of Management Chennai Alliance University IBS International School of Management Excellence IFIM Business School Amrita Business School Coimbatore ITM ITM Warangal Warangal ICBM - School of Business Excellence Hyderabad Badruka Institute Of Foreign Trade Hyderabad 3.47

13 Top 10 B-Schools in West India 1 IBS IBS Balaji Institute of Modern Management IBS Ahmedabad Ahmedabad Indira Institute of Management International School of Business and Media Institute of Health Management Research Jaipur Institute of Management Development and Research Suryadatta Institute Of Management MIT School of Business 2.86 Top 10 B-Schools in East India 1 Asian School of Business Management Bhuvaneshwar IBS Army Institute of Management Eastern Institute of Integrated Learning in Management Globsyn Business School Institute of Management & Information Science Bhuvaneshwar Indian Institute of Tourism and Travel Management Bhuvaneshwar Gandhi Institute for Technological Advancement Bhuvaneshwar Institute of Management Bhubaneshwar Bhuvaneshwar Ajay Binay Institute of Technology Cuttak 2.12

14 TOP 25 B-Schools with Best Return-On-Investment After getting a package of 2.20Lac from campus placement I compared it to 6.75L of fees I paid for two year MBA course. This was a major setback for me, says Pavan Kumar an MBA graduate from one of the B-Schools in. Only if Pavan could have got a proper guidance to give him an understanding of the cost involved and the return, he could have made a well-informed decision. While considering to opt for an MBA program students needs to consider that it isn t only the college fee, there are other factors that adds up to the cost like interest for education loan, accommodation, travelling, food and most important, opportunity cost. One of the most important questions students should ask while taking MBA admission in any college Is it worth investing in management degree with that college? It is not just the fees but students also need to consider other factors like does the tuition fees cover textbooks and study materials? What is the student-tofaculty ratio? What are the support services like dedicated careers counseling services or strong alumni network to leverage upon? experts did an analysis based on the current fees structure and an average salary for 2011 batch and came out with RoI (Return on Investment) for each college. The RoI ranking is a close indicator to highlight the colleges that offer best value for money you spend on MBA education. Standard assumptions we have used for the calculation purpose: 1. Cost of financing an education loan is 12% per annum 2. Increase in the salary is 10% for next 3 years 3. Bank shall finance 70% of the total fees

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16 TOP 25 B Schools with highest ROI. Rank B-School Location Average Salary Fees (In Lacs) ROI (In Years) 1 IBS IBS IBS Asian School of Business Management Bhuvneshwar IBS IBS Ahmedabad Ahmedabad University Business School Chandigarh Eastern Institute of Integrated Learning in Management IBS International School of Management Excellence Accurate G L Bajaj Institute of Management & Research Amity Business School Noida TERI University Balaji Institute of Modern Management IILM Institute for Higher Education Badruka Institute Of Foreign Trade Hyderabad Great Lakes Institute of Management Chennai Amrita Business School Coimbatore Suryadatta Institute Of Management & Mass Communication Alliance University IFIM Business School Fostiima Business School International School of Business and Media NIILM Centre for Management Studies

17 Methodology Traditionally, B-schools rankings have been trying to tell us which MBA colleges we should be looking at in the coming admissions season. However, most of them have not succeeded in capturing the order of business schools that students should actually opt for. The primary reason for this is that most of ranking agencies who conduct B-School surveys rely on the data inputs provided by the colleges and based on which the ranking computation happens. Yes we agree that there is a thorough validation and cross checking of data inputs, but it still leaves a small gap that can make a difference in actual rankings. independently conducts its B-Schools Salary survey without any direct inputs from the colleges. This year s survey was conducted by sampling over 23,481 management graduates from 200 Top B-Schools across India. On an average we have sampled around students from each college depending on the batch size. After sampling we do a random check by individually speaking to the recipients to verify the facts. As we had an extended data collection period this year it has helped us in enhancing our data accuracy. Salary figures and other stats represented in the report are close to reality but we would like to inform our readers that there could be slight variations for some colleges salary figures, as the survey was done using a statistical model. Our advice to students: As always, choose wisely. Do write to us for your comments and feedback at feedback@digitalmailers.in and we shall try to incorporate your suggestions in next year rankings.