Business Standard and IMRB International jointly conducted a survey of Indian B schools to chart out the best institutions in India providing management education (B-Schools) in 2012. Expectedly, many IIMs along with other A-list Indian business schools featured prominently in the rankings.
Trak.in has previously covered many surveys listing top B-schools in India, including a post on IIMs climbing up the international rankings in February 2012. This survey is different from its counterparts because of the methodology and ranking technique employed.
Instead of ascribing individual ranks to B-schools as per traditional ranking norms, this survey places Indian B-schools in 14 categories namely Super League 1, Super League 2, A1-A8 and B1-B4.
In addition to the uniqueness of the ranking system, the survey has been carried on the basis of two parameters. The first parameter is the Audit Score which includes elements such as placements, infrastructure, faculty, industry exposure, admission procedures and so on. This parameter includes elements that can be judged quantitatively and numerically, which makes the results very objective.
The second parameter is the Perception Score which judges Indian B-school on the basis of its image and reputation amongst industry experts, media, alumni and other related parties. This parameter includes qualitative elements and brings out more subjective, opinion-based results.
The crux of the BS B-School Survey 2012 is a combination of objective and subjective calculations – a weighted aggregate. This is unlike many other surveys that generally tend to employ only standard quantitative factors to generate rankings.
Although the survey was open to all the B-Schools in India approved by All India Council for Technical Education, the Government or a University, only 197 of them emerged as eligible for the survey. IIM-Ahmedabad, IIM-Bangalore, IIM-Kolkata, IIM-Indore ranked in as the top four B-Schools in Super League 1. They were followed by Management Development Institute Gurgaon, National Institute of Industrial Engineering Mumbai, Xavier Institute of Management Bhubaneswar and XLRI Jamshedpur. The top B-schools to figure in Super League 2 were Great Lakes Institute of Management, Chennai, IM-Kozhikode, Institute of Management, Nirma University, Ahmedabad, IMT Ghaziabad and IMT Nagpur.
Top Indian B-Schools in best 2 categories
|SUPER LEAGUE 1|
|* Indian Institute of Management, Ahmedabad|
|* Indian Institute of Management, Bangalore|
|* Indian Institute of Management, Kolkata|
|* Indian Institute of Management, Indore|
|* Management Development Institute, Gurgaon|
|* National Institute of Industrial Engineering, Mumbai|
|* Xavier Institute of Management, Bhubaneswar|
|* XLRI, Jamshedpur|
|SUPER LEAGUE 2|
|* Great Lakes Institute of Management, Chennai|
|* Indian Institute of Management, Kozhikode|
|* Institute of Management, Nirma University, Ahmedabad|
|* Institute of Management Technology, Ghaziabad|
|* Institute of Management Technology, Nagpur|
|* International Management Institute, New Delhi|
|* Jamnalal Bajaj Institute of Management Studies, Mumbai|
|* KJ Somaiya Institute of Management Studies & Research, Mumbai|
|* SP Jain Institute of Management & Research, Mumbai|
|* SVKM’s Narsee Monjee Institute of Management Studies, Mumbai|
Despite Business Standard’s and IMRB International’s claim about the difference and uniqueness in its survey methodology, the top spots have gone to the usual suspects. In most B-School surveys, IIM-Ahmedabad appears to maintain its number one position. The second, third and the fourth spot usually keeps shuffling between IIM-Bangalore, IIM-Kolkata, IIM-Indore and IIM-Lucknow.
Two very regular contenders namely ISB Hyderabad and the Indian Institute of Foreign Trade surprisingly remained absent from the BS B-School Survey 2012 and new names like Great Lakes Institute of Management Chennai entered the marquee.
In recent years there have been many unverified claims by many established and upcoming universities that they either matched or beat the IIMs in certain areas. However, regardless of methodology and survey type, the country’s renowned management institution held fort as 4 IIMs made it to the list of top B schools in India. IIM continues to be the elusive mecca for MBA students in India.
What are your thoughts on these rankings?