B-School Ranking by TIME for 2011
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The Top 90 management institutes in the country have been divided into seven broad categories. A numerical ranking often does not have a sound scientific basis. The parameters and, more importantly, the weightages given to these tend to be extremely subjective.
A qualitative analysis of a B-school on pre-determined parameters can however give you a more comprehensive picture. These parameters include placement record, quality of faculty members, quality of students, quality of infrastructure, image of the institute, etc. However being based on perspective, the resultant rankings too, are thus subject to many fierce debates. T.I.M.E. has used its extensive student database, years’ of experience in the field and a proven methodology to categorize the top 90 institutes.
Methodology
The B-School categorisation process adopted by T.I.M.E. is an elaborate multi-step process where due weightage is given to the statistics available about an institute in the public domain and the opinion of experts at T.I.M.E. That’s why, it is a blend of expert opinion and objective data which makes it the most accurate categorisation available. In the first stage, we identify the parameters that influence the rating of a B-School, which are whittled down further on the basis of the relative importance of the parameters identified in the first stage. The parameters used finally are (a) average CTC, (b) cut-off score at the institute, (c) number of applicants, (d) location of the school, (e) age of the institute, (f) quality of alumni, and (g) faculty. These parameters constitute the objective aspect of the categorisation methodology, while the rating given by T.I.M.E. experts to each institute constitutes the subjective aspect. An elaborate scoring system is devised for each of the objective parameters, which is reviewed and modified by an expert panel. The data related to each institute for each of the above parameters is collected and scrutinised for its authenticity. Finally, scores are given to the institutes based on the scoring system according to the authenticated data of the institute.
For each institute included in our list, it is the flagship course of that institute that has been considered for the purpose of the categorization. The only exception to the above are the programs of the IIM’s where both the PGP and the Executive programs have been treated on par and given the same status. In some cases specific programs of some top institutes (the MS program of FMS and the HR program of MDI) have been graded at a different level than that of their flagship program. This has been done on account of the popularity of the program and its relative standing against other such programs of other institutes.
As a part of the selection criteria, a number of management institutes also include a minimum percentage of marks to be scored by the students in their graduation for the students to be eligible to apply to such institutes.
Click here to view the graduation percentage requirements of select B-Schools.
CATEGORISATION OF THE TOP 90 B-SCHOOLS IN INDIA
The Top 90 B-Schools in the country have been divided into seven broad categories. A numerical ranking often does not have a sound scientific basis. The parameters and, more importantly, the weightage given to these, tend to be extremely subjective. The resultant rankings too, are thus subject to many fierce debates. In this case, T.I.M.E. has used its extensive student database and experience in the field to categorise the Top 90 B-Schools.
Broadly, these categories are meant to aid the students in applying to institutes. Within a category, the institutes are of approximately the same quality. Of course, the categorisation is only indicative and students should make independent inquiries before taking a final decision about which institutes to apply to.
The Top Ten are the so-called ‘Ivy-League’ institutes that every student dreams of securing an admission into. Many of these institutes are comparable with the best in the world. Indeed, some of them regularly feature in the lists released by international business magazines. These institutes invariably have a 100% placement record. Even the not-so-good students at these institutes manage to get very good jobs on account of the ‘rub-off’ effect of the institute.
The "AAA" (Triple A) & "AA" (Double A) categories of institutes are those that fall into the Top 30. They offer a high quality of education, faculty, and infrastructure facilities. These institutes have a 100% placement record and are considered to be just a notch lower than the ‘Ivy-League’ schools like the IIMs and XLRI. A significant number of the top students at these institutes are able to secure placements that are comparable to those offered at the Top 10 institutes. Most students should be more than happy to join these institutes if they are able to get admission.
The "A" and "BBB" (Triple B) categories of institutes offer a consistent quality of education in terms of faculty quality and infrastructure facilities even though these may not be comparable to those of the top 30 institutes. These institutes are successful in providing high quality placements to their top students, especially those with good communication skills, but do not have a 100% placement record. A student at one of these institutes would have to work extra-hard to secure a good rank and high marks so as to enhance her / his placement chances.
The "BB" (Double B) and "B" category institutes are those that are well regarded at the local level. These institutes may not provide too many national-level placement opportunities but are generally successful in providing placements to many of their students with prominent local companies.