BSchools Salary Survey Report 2011

In this only one of its kind survey, we emphasized on the

lowest common denominator of all

management courses -SALARY.

Digital Mailers 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

INDIA’S TOP B-SCHOOLS SALARY SURVEY REPORT 2011

[ [Rank B-Schools Location Average Salary (Lakhs)

1 IIM-A Ahmedabad 13.59

2 IIM-B Bangalore 12.94

3 ISB Hyderabad 12.38

4 IIM-C Kolkata 11.69

5 XLRI Jamshedpur 11.41

6 IIM-L Lucknow 10.82

7 JBIMS Mumbai 10.51

8 S.P.Jain Mumbai 10.03

9 MDI Gurgaon 9.75

10 IBS Hyderabad Hyderabad 9.49

www.digitalmailers.inDigital Mailers

TOP 10 B-Schools with Highest Average Salaries for 2011 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.

INDIA‘S BEST SCHOOLS

Rank B-Schools Location Average Salary (Lakhs)


Top 75 B-Schools with highest average salaries for 2011 Batch

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 Digital Mailers, 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.

11 Faculty of Management Studies Delhi 9.30

12 Indian Institute of Foreign Trade Delhi 9.13

13 National Institute of Industrial Engineering Mumbai 9.03

14 Indian Institute of Management Indore Indore 8.82

15 Indian Institute of Management Khozikode Khozikode 8.78

16 Shailesj J Mehta SOM IIT Mumbai Mumbai 8.53

17 Narsee Monjee Institute of Management Studies Mumbai 8.45

18 Xavier Institute of Management Bhuvneshwar 8.36

19 Vinod Gupta School of Management IIT Kharagpur Kharagpur 8.28

20 Great Lakes Institute of Management Chennai 8.18

21 IBS Mumbai Mumbai 8.04

22 Goa Institute of Management Goa 7.96



Top 75 B-Schools with highest average salaries for 2011Batch

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.

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K J Somaiya Institute of Management

Alliance University

SIBM Pune

International Management Institute

Institute of Management and Technology Ghaziabad

IBS Bangalore

T A Pai Management Institute

Bharathidasan Institute of Management

Nirma Institute of Management

Institute of Rural Management Anand

Welingkar Institute of Management

Asian School of Business Management

Accurate Institute of Tech & Management

International School of Management Excellence

Mumbai

Bangalore

Pune

Delhi

Ghaziabad

Bangalore

Manipal

Tiruchirappalli

Ahmedabad

Anand

Mumbai

Bhuvneshwar

Delhi NCR

Bangalore &Mumbai

7.61

7.46

7.14

6.90

6.84

6.80

6.64

6.46

6.34

6.16

6.02

5.96

5.93

5.78




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58

IBS Pune

Xavier Institute of Management & Entrepreneurship

Loyola Institute of Business Administration

National Institute for Technology

IBS Gurgaon

Institute for Technology & Management

Kirloskar Institute of Advanced Management Studies

IBS Kolkata

TERI University

GITAM Institute of Foreign Trade

Balaji Institute of Modern Management

IBS Ahmedabad

IFIM Business School

SDM Institute of Management Development

Jaypee Business School

University Business School

Indira Institute of Management Pune

Amity Business School Noida

Amrita Business School

PSG Institute of Management

Acharya Institute of Management Studies

Pune

Bangalore

Chennai

Delhi NCR

Tiruchirappalli

Gurgaon

Mumbai

Karnataka

Kolkata

Delhi NCR

Visakhapatnam

Pune

Ahmedabad

Bangalore

Mysore

Delhi NCR

Chandigarh

Pune

Delhi NCR

Coimbatore

Coimbatore

Bangalore

5.58

5.13

4.90

4.88

4.85

4.64

4.62

4.60

4.51

4.49

4.46

4.40

4.38

4.35

4.25

4.21

4.19

4.16

4.14

4.13

4.11

4.08

G L Bajaj Institute of Management & Research.




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 2006. 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.”

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75

School of Communication & Management Studies

Bharati Vidyapeeth University Institute of

MET Institute of Management

IILM Institute for Higher Education

International School of Business and Media

Institute of Health Management Research

ITM Bangalore

Birla Institute of Technology

ITM Warangal

ICBM - School of Business Excellence

Institute of Management Studies

NIILM Centre for Management Studies

Badruka Institute Of Foreign Trade

KIIT University, School of Management

Fostiima Business School

IISWBM Kolkata

Management & research

Kochi

Delhi

Mumbai

Gurgaon

Gurgaon

Pune

Jaipur

Bangalore

Ranchi

Warangal

Hyderabad

Ghaziabad

Delhi

Hyderabad

Bhuvneshwar

Delhi

Kolkata

4.07

4.05

4.02

3.94

3.93

3.86

3.81

3.71

3.70

3.69

3.66

3.64

3.55

3.47

3.43

3.41

3.38


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).

What is the difference between conventional management and

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.

We bring you the excerpts of interview with Dr.Biswajeet Pattanayak – Director, ASBM.

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 well-intentioned 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.

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.

modern management?

Dr.Biswajeet Pattanayak – Director, ASBM.


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.

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.

ASBM Campus - Bhuvaneshwar



Top 30 New Generation of B-Schools

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.

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Great Lakes Institute of Management

IBS Mumbai

Alliance University

IBS Bangalore


Accurate Institute of Technology & Management


IBS Pune

IBS Gurgaon

IBS Kolkata

TERI University

Chennai

Mumbai

Bangalore

Bangalore

Bhuvneshwar

Delhi NCR

Bangalore &

Pune

Delhi NCR

Gurgaon

Kolkata

Delhi NCR

8.18

8.04

7.46

6.80

5.96

5.93

5.78

5.58

4.88

4.64

4.51

4.49

Mumbai




Top 30 New Generation of B-Schools

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28

29

30


IBS Ahmedabad




Indira Institute of Management Pune






ITM Bangalore

ITM Warangal





Pune

Ahmedabad

Bangalore

Delhi NCR

Chandigarh

Pune

Delhi NCR

Coimbatore

Gurgaon

Gurgaon

Pune

Jaipur

Bangalore

Warangal

Hyderabad

Delhi

Hyderabad

Delhi

4.40

4.38

4.35

4.21

4.19

4.16

4.14

4.13

3.94

3.93

3.86

3.81

3.71

3.69

3.66

3.55

3.47

3.41



Top 10 B-Schools in North India

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9

10

Zonal Rankings with Best Average Salaries for 2011

Accurate Institute of Tech & Mgmt


IBS Gurgaon

TERI University






Delhi NCR

Delhi NCR

Gurgaon

Delhi NCR

Delhi NCR

Chandigarh

Delhi NCR

Gurgaon

Gurgaon

Delhi

5.93

4.88

4.64

4.49

4.21

4.19

4.14

3.94

3.93

3.55


Top 10 B-Schools in South India


Alliance University

IBS Bangalore




ITM Bangalore

ITM Warangal



Chennai

Bangalore

Bangalore

Bangalore

Bangalore

Coimbatore

Bangalore

Warangal

Hyderabad

Hyderabad

8.18

7.46

6.80

5.78

4.35

4.13

3.71

3.69

3.66

3.47

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3

4

5

6

7

8

9

10



Top 10 B-Schools in West India

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9

10

IBS Mumbai

IBS Pune


IBS Ahmedabad

Indira Institute of Management



Institute of Management Development and Research

Suryadatta Institute Of Management

MIT School of Business

Mumbai

Pune

Pune

Ahmedabad

Pune

Pune

Jaipur

Pune

Pune

Pune

8.04

5.58

4.40

4.38

4.16

3.86

3.81

3.04

3.03

2.86


Top 10 B-Schools in East India

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5

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8

9

10


IBS Kolkata

Army Institute of Management

Eastern Institute of Integrated Learning in Management

Globsyn Business School

Institute of Management & Information Science

Indian Institute of Tourism and Travel Management

Gandhi Institute for Technological Advancement

Institute of Management Bhubaneshwar

Ajay Binay Institute of Technology

Bhuvaneshwar

Kolkata

Kolkata

Kolkata

Kolkata

Bhuvaneshwar

Bhuvaneshwar

Bhuvaneshwar

Bhuvaneshwar

Cuttak

5.96

4.51

3.22

3.10

2.81

2.63

2.41

2.28

2.25

2.12


“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 Bangalore. 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-to-faculty ratio? What are the support services like dedicated careers counseling services or strong alumni network to leverage upon?

Digital Mailers 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 tohighlight the colleges that offer best value for money you spend on MBA education.

TOP 25 B-Schools with Best Return-On-Investment

Standard assumptions we have used for the calculation purpose:1. Cost of financing an education loan is 12% per annum2. Increase in the salary is 10% for next 3 years3. Bank shall finance 70% of the total fees

Rank B-School Location Average Fees ROI


TOP 25 B Schools with highest ROI.

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IBS Mumbai

IBS Pune

IBS Bangalore


IBS Kolkata

IBS Ahmedabad


Eastern Institute of Integrated Learning in Management

IBS Gurgaon


Accurate

G L Bajaj Institute of Management & Research

Amity Business School

TERI University






Suryadatta Institute Of Management & Mass Communication

Alliance University





Mumbai

Pune

Bangalore

Bhuvneshwar

Kolkata

Ahmedabad

Chandigarh

Kolkata

Gurgaon

Bangalore

Delhi NCR

Delhi NCR

Noida

Delhi

Pune

Gurgaon

Hyderabad

Chennai

Coimbatore

Pune

Bangalore

Bangalore

Delhi

Pune

Delhi

8.04

5.58

6.80

5.96

4.51

4.38

4.19

3.10

4.64

5.78

5.93

4.88

4.41

4.49

4.40

3.94

3.47

8.18

4.13

3.03

7.46

4.35

3.41

3.86

3.55

3.20

2.50

3.20

2.90

2.50

2.50

2.50

2.00

3.20

4.35

5.25

5.20

5.50

6.00

6.00

5.40

5.00

12.00

6.20

4.80

12.00

7.50

6.15

7.50

7.60

1.24

1.39

1.46

1.51

1.72

1.77

1.85

2.00

2.14

2.34

2.75

3.31

3.87

4.15

4.23

4.25

4.47

4.55

4.66

4.92

4.99

5.35

5.60

6.03

6.64

(Lakhs) (In Years) (In Lacs)Salary


Our advice to students: As always, choose wisely.Do write to us for your comments and feedback at [email protected] and we shall try to incorporate

your suggestions in next year rankings.

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. Digital Mailers’ 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 20 – 60 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.

BSchools Salary Survey Report 2011

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