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Is MDI better than the new IIMs and baby IIMs?
Yes, MDI Gurgaon is definitely better than baby IIMs in almost every aspect. Some major points of comparison between them are
Fees: The fees of the PGDM program at MDI Gurgaon are ?23.47 Lakhs (Total Fees) whereas the MBA fees of new IIMs are around 16-23 Lakhs. So MDI has higher fees.
Ranking: MDI Gurgaon ranks 13th by NIRF whereas the new IIMs come only after that.
Establishment: Almost all the new IIMs were established after 2007, whereas MDI has a great legacy because of being established as early as 1973.
Placements: The placement scenario is much better at MDI than at newer IIMs. I have drawn a comparison between MDI placement statistics and IIM Trichy, one of the best among the new IIMs.
|
Particulars |
MDI |
IIM Trichy |
|
Highest salary |
INR 1.14 CPA |
INR 34 LPA |
|
Average salary |
INR 26.65 LPA |
INR 17.01 LPA |
|
Top recruiters |
Microsoft, Google, HCL, Adobe |
Amazon, Dell, Nomura |
The table clearly proves MDI is a winner in the placement race when it comes to new IIMs. In fact in all aspects MDI wins the battle so should be the preference over new IIMs.
Which is better: IIM Ranchi or MDI Gurgaon?
MDI Gurgaon is better than IIM Ranchi. In terms of placements and alumni base, there are significant differences between these two institutes. MDI is an older B-School with a well-developed alumni network. The brand name of MDI is widely reputed in the industry.
It has a stellar placement record. Around 87 recruiters took part in MDI Gurgaon placements in 2022. The median CTC offered this year was INR 23.50 LPA. While the highest CTC offered was INR 1.14 CPA. Google, Adobe, HCL, and Microsoft were the major recruiters that took part in the placement drive.
What will a graduate of SPJIMR/IIM-K/MDI miss out compared to someone graduating from IIM’s A/B/C?
This question can be best answered by someone who has had a taste of both campuses. Fortunately one of my friends was lucky enough to move to IIM Ahmedabad after studying for a year at IIM Kozhikode. He shared his experience and the various things that contrasted in both the B Schools.
Faculty: Being the topmost B School, IIM Ahmedabad does attract some of the best faculties that are experts in their fields. They had too much knowledge and experience to impart making the classes a thrilling experience.
Crowd: While the crowd at almost all the good B Schools attracts only the best, IIM Ahmedabad is famous for its exceptionally good peer groups with only geniuses and masterminds in their respective fields.
Academic rigor: Normally B Schools offer a very hectic life with academic pressure combined with placements and clubs and committee activities. But at IIM Ahmedabad the topmost preference is Academics only. You are required to attend 3 lectures of 75 minutes of case study daily. These case studies are extremely lengthy and on average you are required to read 300 pages every day. Such economic rigor is lacking in the case of IIM Kozhikode.
There are several more minor differences between IIM Kozhikode and IIM Ahmedabad but these 3 are the main things an aspirant needs to consider while choosing one of the two B Schools.
Should I attend MDI Gurgaon or IIM Indore?
Well, these two institutes cannot be positioned to compare with each other. However, the only benefit seen in the case of IIM Indore is that it will assist in accessing the alumni network of PAN India. This does not apply to MDI Gurgaon students. This is beneficial for the students who want to start their individual businesses and switch jobs to a higher profile in later days.
Rather, it is difficult enough to comments on the faculties, placements, and other facilities. Following is a brief overview of these two institutes considering the placement statistics.
|
Criteria |
MDI Gurgaon |
IIM Indore |
|
Placement Statistics |
100% |
90% |
|
Highest CTC |
40.79 LPA |
40 LPA |
|
Lowest CTC |
18 LPA |
10 LPA |
|
Average CTC |
22.05 LPA |
23.6 LPA |
The campus life at IIM Indore is awesome and the infrastructure is unparalleled. The institute has great competition and diversity. You will develop a good analytical and broader viewpoint. One of my friends opted for IIM Indore and he was happy with his decision.
How much do the top B-schools like the IIMs FMS, MDI, XLRI, SP JAIN, JBIMS, IIFT, and NITIE inflate their placement reports?
In the placement process, it is not always the B-Schools that are responsible for reporting inflated packages, but rather the companies. The figure reported by placement cells is referred to as the "Cost to Company" (CTC) and not the take-home salary. This means that simply dividing the CTC by 12 is not an accurate reflection of what you will receive in your bank account each month.
CTC consists of two main components: fixed and variable. The fixed component includes your basic salary, HRA, TA, LTA, employer's contribution to the provident fund, joining bonus, retention bonuses, and ESOPs. The variable component is based on both your performance and the company's performance and is paid out in lump sums either yearly or half-yearly.
Your take-home salary at the end of each month is calculated as basic salary + HRA + TA + other allowances - provident fund deduction - tax. The remaining amount is given to you at the end of the year. To illustrate how companies may inflate their CTC figures, here are a few examples:
- Amazon:
Fixed component: 9 lakhs
Year 1 end retention bonus: 2 lakhs
Year 2 end retention bonus: 1.5 lakhs
ESOP: 5 lakhs to be paid over 3 years
Performance bonus: separate/not reported CTC: 17.5 lakhs
Take-home salary: 65-70k
- Goldman Sachs:
Fixed component + Variable component: 14.5 lakhs
Relocation: 2,00,000 INR (one-time payment)
Supplemental Salary: 3,50,000 INR (supplemental salary is an accrued bonus paid out in monthly installments pro-rated from the date of joining, only applicable during the first year of joining)
CTC: 20 lakhs
Take-home salary: 95-98k
- RBS India Development Center (Royal Bank of Scotland back-end):
Fixed component: 9 lakhs
Variable component: 10-20% of a fixed component
CTC: 10.8 lakhs
Take-home salary: 65-68k
As seen from the examples, despite Amazon having a CTC that is double that of RBS IDC, their take-home salary is the same. This is the typical way it works. The placement teams likely do not have much control over the process.
Does MDI Gurgaon look into past academic background or work experience?
MDI's shortlisting process for the PGP 19-21 batch primarily considered CAT percentiles, and in a few cases, past academic scores.
Once you're shortlisted, the interview process at MDI is a two-part process. Firstly, the interviewer will emphasize anything and everything on your CV, starting with testing some basic concepts from your previous education. They will also test the basic foundations of the kind of work you have done.
The second part of the interview is an overall conversation about why you wish to pursue an MBA (PGDM in technicality) and what you plan to do in the next 3, 5, or 20 years. This is where you need to have a compelling story from your past and knit it with how you can make an impact after graduating from MDI.
Your ability to build your story and showcase how an MBA will help you achieve your long-term career goals will be critical in this part of the interview. So, be sure to prepare well and highlight your strengths and achievements to leave a lasting impression on the interviewers.
How much percentile do I need to get a call from MDI Gurgaon, IMT Ghaziabad, IIM K, SP Jain, NITIE?
To secure admission to top MBA institutes in India, you should aim for CAT percentiles from 85 onwards. Here's the order of the institutes you should target in descending order - IIM K with 97+ percentile, MDI with 96+, IMT Ghaziabad with 90+, SPJain with 85+, and NITIE with as high as possible sectional-wise.
Even though SPJain is a premier institute, it gives a call from the 85 percentile onward, since they focus on overall values that an individual possesses and want students with more values in them. They have 2 group interviews, so they follow a rejection procedure.
NITIE has a sectional cutoff, so it's advisable to have as high as possible sectional-wise, as many people with an overall CAT percentile in the range of 97-98 were not selected in either of their 2 programs(PGDM and PGDIESM) in 2016.
IIM K also has a sectional cutoff of 90+, so it's important to score well in each section.
It's worth noting that these institutes do not have a sectional cutoff, but it's always advisable to have a 90+ sectional percentile to be on the safer side. Aim for high percentile and sectional scores to improve your chances of securing a seat in these prestigious institutes.
Is MDI Gurgaon comparable to IIFT Delhi?
The following table shows a comparison of the mentioned colleges:
|
Factor |
IIFT Delhi |
MDI Gurgaon |
|
NIRF Ranking |
29th |
10th |
|
Accreditation |
NAAC ‘A’ Grade |
NBA, AACSB |
|
Courses |
MBA (IB), Executive MBA |
PGPM, PGPM-HRM, PGP-IM, EPGPM |
|
Selection Criteria |
IIFT exam |
CAT, GMAT |
|
Campus |
6 acres |
37 acres |
|
Fees |
21.7 lakhs |
23.47 Lakhs |
|
Average Placement |
25.16 LPA |
27.67 LPA |
|
Top Recruiters |
Amazon, HUL, Nestle, P&G, Goldman Sachs, |
Deloitte, KPMG, Amazon, EY, BCG, PwC |
Hope this comparison helps!
What are some less-known facts about MDI Gurgaon?
You, as an MDI student, are known as a 'ManDevIan'.
- As a student, you have to abide by strict timings and must return to campus by 11 pm. However, some students tend to party all night and even take a long drive to Murthal, a famous dhaba spot around two hours away, returning as late as 5 am.
- MDI boasts a comparatively high number of 75 full-time faculty members, many of whom reside on campus.
- Late-night snacking options available to you as a student include the canteens run by SharmaJi, JhaJi, and Bhandari Bhaiyya, which offer delicious, butter-laden paranthas and Maggie. However, it's important to watch your diet to avoid weight gain.
- MDI Gurgaon has three hostels, each with a different reputation. The most popular one is Kshitij, which is known as the 'hotel.' Takshashila is referred to as Gotham City because of the bats, while Change Masters is considered the 'slum' in comparison to the other hostels.
- Professors such as Prof. Jaideep Mukherjee and Prof. Sanjay Bakshi from MDI are well-known in academic and corporate circles.
- You can find an active in-house Poker Club at MDI that operates in the basement during nighttime.
- As a student at MDI, you can participate in a student-run mutual fund that has been in operation for several years.
- MDI Gurgaon has consistently been ranked among the top 10 B-schools in India by both Indian and international bodies.
- MDI alumni fondly remember their time spent at the institute, including the parties, fun times with fellow students, hilarious professors, Sector-14 and Sector-17, DC++, movie screenings, MGF, the lawns, the fests, and the stunning building of MDI Gurgaon.
Should I go for MDI Gurgaon, if I am already earning 7lpa keeping in mind the fees, and are the placements good enough to cover my opportunity cost for the 2 years?
If you are already earning a salary as high as INR 71 LPA, I don’t think an MBA from MDI Gurgaon will do you any good. If you have decided on going for an MBA nevertheless, target the top B Schools like IIM A, IIM B, IIM C, XLRI, FMS, or IIM L. Choosing MDI for MBA is recommended only if you have offers from average B Schools like new IIMs, SPJIMR, NITIE, etc.
So first you need to get maximum calls from the top B Schools only then can you make a wise and informed decision.
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