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Which is better: the IIMA or the FMS?
Rather than asking which is better IIMA or FMS you should be asking what is better for you.
My friend is an IIM Ahmedabad pass out. She had got offers from IIM Calcutta, Lucknow, and FMS as well. Yet she chose IIMA because it was her dream college. One year into IIMA she realized some major shortcomings.
- The case pedagogy here is overhyped and not at par with global B Schools.
- The professors don’t teach you much, but rather keep you busy through assignments and quizzes.
- No practical learning of concepts as the curriculum was very obsolete in today’s world of business.
The only significant feature here is its excellent placement. This is also the reason why it attracts so much crowd. But this fantasy is also short-lived. As soon as you land a job, you have to start paying back the excessive loan for years. For instance, you land a package with CTC 20 LPA. The in-hand salary would be around 1 lakh and the EMI standing at the end of every month would be 50000. After reducing EMI and personal expenses you get little for yourself for several years despite your hard work. Despite graduating you will be stuck in the same life for years.
Now considering FMS it has the following merits that make it a tad bit better than IIM Ahmedabad
- Very low fees in comparison to IIM Ahmedabad
- Since you don’t have to take a loan you feel a sense of freedom to take up the course of your choice.
Your batchmates from FMS will be enjoying life, and fulfilling their dreams and you will be still stuck in the same circle of paying back loans. So the brand value is just not enough. I don’t think spending 20 lakhs on any Indian B School is worth it.
How much does an IIM Ahmedabad pass out earn after 12 years of passing out?
IIM Ahmedabad easily ensures a high salary. One of my cousin's brothers was an IIM Ahmedabad pass out. Today he is working abroad for Amazon and earns around 1.8 crore.
Another friend, an IIM Ahmedabad pass out, is making 26 LPA. He was nowhere near 20% or 30% of the batch, neither in academics nor in terms of campus replacement figures.
So we can safely assume that even without much shifting of jobs, an IIM Ahmedabad passout would reach the 1 crore easily.
What are the books IIM A, B, and C follow for finance, marketing, strategy and operations management?
The books followed by IIMs depend upon the faculty and the specific courses being taught.
Here are the commonly recommended books for these subjects-
- Finance-
- Principles of Corporate Finance by Richard Brealey, Stewart Myers, and Franklin Allen
- Financial Management: Theory and Practice by Prasanna Chandra
- Security Analysis and Portfolio Management by Donald E. Fischer and Ronald J. Jordan
- Investments by Zvi Bodie, Alex Kane, and Alan J. Marcus
- Corporate Finance: A Focused Approach by Michael C. Ehrhardt and Eugene F. Brigham
- Marketing-
- Marketing Management by Philip Kotler
- Consumer Behavior: Buying, Having, and Being by Michael R. Solomon
- Strategic Brand Management by Kevin Lane Keller
- Marketing Metrics: The Definitive Guide to Measuring Marketing Performance by Paul W. Farris, Neil T. Bendle, Phillip E. Pfeifer, and David J. Reibstein
- The New Rules of Marketing and PR: How to Use Content Marketing, Podcasting, Social Media, AI, Live Video, and Newsjacking to Reach Buyers Directly by David Meerman Scott
- Strategy-
- Competitive Strategy: Techniques for Analyzing Industries and Competitors by Michael E. Porter
- Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant by W. Chan Kim and Renée Mauborgne
- Good Strategy Bad Strategy: The Difference and Why It Matters by Richard P. Rumelt
- The Innovator's Dilemma: When New Technologies Cause Great Firms to Fail by Clayton M. Christensen
- The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses by Eric Ries
- Operations Management-
- Operations Management by Jay Heizer and Barry Render
- Production and Operations Management by R. B. Khanna
- Operations Strategy by Nigel Slack and Michael Lewis
- The Goal: A Process of Ongoing Improvement by Eliyahu M. Goldratt and Jeff Cox
- The Toyota Way: 14 Management Principles from the World's Greatest Manufacturer by Jeffrey K. Liker
This list is not fixed for IIM A, B, C, or any other IIM. The professors at each IIM have their own preference list of the books and resources for their respective course.
Why is IIM Bangalore better than IIM Ahmedabad?
There’s a never-ending comparison between IIM A vs IIM B vs IIM C. Naturally, there is no definite winner. The reasons why some people consider IIM Bangalore to be better are as follows.
Course Curriculum: The curriculum and pedagogy are designed in such as way that you will get all-around opportunities in each term. IIM A has a rigorous academic curriculum for the first year. You won’t get much time to explore any other activities besides academics there. While your IIM B journey will start with a war of sections, i.e. an inter-sections event with various competitions that goes on for one week.
Credit Division: IIM B has a balanced credit division, i.e. 55% in the first year and 45% in the second year. While IIM A assigns almost 67% of credits for first-year and 33% credits for second-year. So, you will get more time to bond with your classmates and seniors at IIM B. You will have the freedom to pursue your interests other than academics as well.
NSRCEL: NS Raghavan Center for Entrepreneurial Learning at IIM B is more than just an entrepreneurship center or cell. It offers one core and one elective course. The coursework includes real start-up work.
Placements: IIM A, and IIM B both have excellent placement records. But due to the process around the top 20-30% of students get multiple placement offers. While IIM B follows an algorithm that ensures that the whole batch gets a fair shot at all companies.
Students usually choose IIM B over IIM A for its more balanced course structure.
Which one is better, IIM Bangalore or IIM Ahmedabad?
IIM Bangalore and IIM Ahmedabad are the Top Schools in the country. Both IIM Bangalore and IIM Ahmedabad are top institutions that offer World-class management education, so you can't go wrong with either choice. Determining which is better between both Institutes depends on various criteria such as your Personal Preferences, Fees, Location, Career Goals, Placement Packages and much more. Here is a brief comparison between the two.
| Particulars | IIM Bangalore | IIM Ahmedabad |
|---|---|---|
| Established | 1973 | 1961 |
| Total Fees | INR 24.50 Lakhs | INR 25 Lakhs |
| Batch Size | 480 | 395 |
| Ranking | 2 (NIRF) | 1 (NIRF) |
| Placement | Highest Package : INR 1.15 CPA Average Package : INR 35.31 LPA | Highest Package : INR 1.15 CPA Average Package : INR 34.36 LPA |
| Top Recruiters | Infosys, Jindal Shadeed, JP Morgan Chase, Goldman Sachs | Accenture, Boston Consulting Group, Consulting, TCS, Goldman Sachs, Adani |
How does a typical day in IIM A pass by?
Here’s a brief look into a typical day at IIM Ahmedabad.
- Lectures start from 8:45 sharp. The lecture timing at IIM Ahmedabad has a zero error policy. It means you can’t attend the class even if you are one second late. It’s best if you wake up around 7. That way you will have time to get ready for class in time. Although there are students who wake up at 8, grab something to eat if possible, and reach class down to the wire.
- There will be classes and breaks in a loop until the lunch break. Even if you are sleepy you will have to be active in class for the class participation marks.
- The lunch break is at 1 pm. During lunch, you will see students checking their emails or quiz board for notices regarding an upcoming quiz. If you have a quiz at 2:45 pm, you will get the notice around 1:45 pm. Students who don’t have to prep for a quiz, either study or take a nap.
- After 5 pm, the campus starts buzzing with various group activities. Many also start working on their group assignments.
- Students start to get dinner from around 8 pm.
- After dinner, most students either do their group assignments or study.
Naturally, the schedule varies depending on the individuals. But the activities are more or less same.
What is the fee for SC/ST students in IIM A, B, and C?
There is no concession for SC/ST students in IIM A, B and C. But this is not a major issue.
IIMs offer a lot of financial aid services to financially weak people. In some cases, the entire fee is paid by the college or some part. It depends on the judgment of the panel on the basis of your situation.
All IIMs offer educational loans at a relatively low interest rate. Banks usually consider IIM students as a profitable investment. So rather than worrying about the money, focus more on your goals.
What if I don't have enough money to pay IIM Ahmedabad's fees?
If you have got admission at IIM Ahmedabad, paying fees will not be an issue. There are many ways to finance your degree.
If you are eligible, you will get a fee waiver. There are many corporate scholarships on offer as well. If you have an impeccable academic record, you can easily bag one of these scholarships.
Many banks offer education loans for IIM students without collateral security. IIM Ahmedabad has tie-ups with many banks that are willing to offer you loans to pay the fees and also a minimum amount to pay your basic living expenses on campus.
I have converted IIM Ahmedabad solely because of my reservation category and luck. I am too scared of joining it. Should I go to IIM Indore instead?
Your life success is determined by your abilities and luck. When you are chosen for IIM Ahmedabad, you have met the minimum requirements, which means you are competent. So it makes no difference that you received affirmative action for your support.
A study was once conducted at the University of Michigan Law School to determine whether students who received the highest score on their standard test were more "successful" than those who received affirmative action-based admission. They discovered that ten years later, there was no difference in their performance and that they were all equally good lawyers.
More than half of IIM Indore students, and even more at IIM Ahmedabad, would admit that luck plays an important role. You should go to IIM Ahmedabad. The peer learning factor would be superior to IIM Indore.
What CAT percentile do I require to get calls from IIM Blackis, FMS, SP Jain, JBIMS and MDI Gurgaon?
For GEM, the CAT percentiles required to get an interview call from IIM Blackis, FMS, SP Jain, JBIMS, and MDI Gurgaon are
- ABC and FMS: Both institutes required nothing less than 99.5. Those who get admission at a lesser percentile, usually don’t belong to the GEM category. There are many who don’t even get a call with 99.3. So to stay on the safer side, go for nothing less than 99.5.
- IIM Indore and Kozhikode: Both the institutes require percentiles around 97.5 for an interview call
- SPJIMR: This Institute has unique selection criteria under which CAT is given less value and calls are issued on the basis of the candidate's profile. The CAT percentile required in this case is less than the normal if you have a good academic profile along with work experience,
- MDI: This institute issues calls around the 96% mark.
It’s important to know that these figures are based on trends and not on actual data so you will find exceptions everywhere. Moreover, it’s better you don’t waste time analyzing the CAT cutoff and start preparing for the same.
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