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Which would be a better choice of B school between New IIMs (Ranchi, Raipur, etc.), MDI, IIFT Kolkata, IIT-B (SJMSOM) with finance as a specialization?
Among these colleges, IIFT Kolkata or MDI will be better for Finance. According to MDI Gurgaon placements 2022 record, BFSI, and E-Commerce sectors had placement rates of 22% and 13%. During 2021 placement drive, 55 students from MDI were placed in the Finance sector. The highest CTC offered in this sector was INR 21-23 LPA.
You can also consider IIFT Kolkata. It offers similar opportunities as IIFT Delhi, in the Finance sector. During IIFT Kolkata Summer placements 2021, the top recruiting sector was BFSI.
How are the hostels at IIFT Delhi and Kolkata?
IIFT Delhi and Kolkata campus offers good hostel facilities. The Delhi campus has three hostels - C9, Old hostel, and new hostel. The rooms are 2 or 3 sharing. Students are provided with mess facilities. IIFT Delhi hostel fees are around INR 45k-54k.
IIFT Kolkata offers hostel facilities as well. The rooms are spacious and have basic amenities. IIFT Kolkata hostel fees are around INR 50k.
Which college is better among NMIMS Mumbai and IIFT Kolkata?
My friend is studying with NMIMS and it's good and easy to get into as well. There are 3 attempts available for NMAT whereas IIFT is a step higher on the difficulty scale. The positive aspect of this is that the crowd at IIFT has intellectuals.
Apart from this, here are some more highlights-
- IIFT is well known as a trade research and consulting institution in India. Its personal brand is now part of the 'top b-schools in India' lists. It has also been ranked in the top 10s.
- Whereas NMIMS is a new school and is a step lower in branding but it's trying its best to catch up.
- The batch size of IIFT is half that of NMIMS. So IIFT becomes for those with decent academic scores, a place of success where they get to be top profiles. In NMIMS it becomes a struggle.
- Students in the Kolkata campus are able to apply to companies visiting IIFT Delhi as well.
- As for the location, Mumbai is a buzzing city and Kolkata is mellowed but dreamy. If you choose to go for NMIMS, then know that it doesn't have a hostel life. Students live on rent near the campus. IIFT Kolkata does have hostels.
- The mess at IIFT Kolkata is pretty decent and the hostel has single sharing accommodation which is rare for most B-schools. All in all, IIFT has a better hostel life than NMIMS.
Lastly, you'll have to pay more at both colleges but IIFT would be INR 3-4 lakhs cheaper than NMIMS and IIFT has a stupendous alumni network in the area of international trade. You may now decide based on your future goals.
How are placements at IIFT Kolkata? What is the lowest package?
I have a few friends who are IIFT Kolkata alumni. Here is what they had to say about the placement at the institute.
At IIFT Kolkata, the placement scenario is similar to that of the placement scenario of IIFT Delhi. Here are the recent placement statistics for the institute.
|
No of Recruiters |
125+ |
|
No of PPOs |
93 |
|
No of International Offers |
10 |
|
Average CTC |
20.48 LPA |
|
Highest CTC |
75 LPA |
|
Top Sectors |
IT/Analytics/Consulting |
|
Major Recruiters |
Yes Bank, Citi Bank, L&T, etc. |
If you are talking about the lowest package, there are chances of that lowest package to be a complete zero too. You should be curious and asking about the highest package that is offered at IIFT Kolkata instead of wondering what the lowest package offered is.
Which is better between IIFT Kolkata and SJMSOM??
IIFT Kolkata ranked 31st in India 2019 and the only institute that has been consistently ranked among the top 10 B-Schools in the country.
SJMSOM ranked 11th in the management category in the NIRF Rankings 2020. The institute consists of a faculty strength of 30 members.
Admission process:-
IIFT Kolkata
- Minimum of 50% marks in a bachelor’s degree.
- The cutoff required in the GMAT exam for this course is 115-118 out of 300.
- The total fees required is INR 7.6 LPA.
- The total intake is 140.
SJMSOM
- A graduation degree in any subject with a minimum of 60% marks from a recognized university.
- The candidates will be shortlisted based on the written test and personal interview conducted by the institute.
- The cutoff required in the CAT, XAT, GMAT exams is 90.
- The fees required is INR 9.61 LPA.
- The total intake is 152.
Placements
IIFT Kolkata always maintains 100% placements every year. The highest package received is INR 1.5 crore in 2019.
SJMSOM witnessed 100% placements yet again in the 2019-20 placement drive. The institute also saw a steep hike of 14% in the average salary since last year.
The table given below shows the placement statistics of both institutes:
|
Categories |
IIFT Kolkata |
SJMSOM |
|
Placement percentage |
100% |
100% |
|
Highest package |
INR 1 Crore |
INR 32.8 LPA |
|
Average package |
INR 20.07 LPA |
INR 20.98 LPA |
The top recruiters are Axtria, Polycab, Zomato, Paytm, Google, PwC, L&T, JP Morgan, Accenture, etc.
Facilities
- IIFT Kolkata is a veritable storehouse of information and includes almost 3780 books in all the areas relevant to management.
- The labs at IIFT Kolkata are well equipped with the latest computer technology with Wifi enabled facilities.
- The library of SJMSOM has a total of 6638 books and 851 journals on relevant topics.
- SJMSOM has two computer labs for the management programs and are connected to 100 Mbps LAN.
IIFT Kolkata is essentially a B-School offering MBA in various disciplines like marketing, finance, strategy, etc. SJMSOM is an IIT and not a traditional B-School but is quickly finding its way into the top bracket.
IIFT Kolkata provides a lot of opportunities to initiate new developments and contribute to the new campus. Although SJMSOM might have better placements in technology and other allied sectors, IIFT Kolkata is arguably a better business school than SJMSOM.
What are the chances of converting IIFT DELHI through waitlist if I opt out from IIFT KOLKATA with a percentile of 99.3%?
Only a small part of the total score, which is made up of the GD, PI, WAT, and entrance test, comes from the percentile. The total score is derived as follows:
- Entrance exam: 55%
- GD: 10%
- WAT: 10%
- PI: 23%
- Gender diversity: 2%
Even though the most important part is the entrance test, it's hard to say that with a certain percentile, you're sure to get into IIFT Delhi.
If I go for IIFT Kolkata instead of IIFT Delhi, will it make a difference in quality of education and my placements?
No. Minimal difference exists when it comes to placements, but nothing changes when the quality of education is talked about.IIFT Delhi and Kolkata are sister campuses and not separate branches like IIMs are. You will be taught by common professors, get the same degree upon graduating. Both campuses go through the same academic rigor, led by the common administration. Even the competitions open for IIFT Delhi are inherently open for the Kolkata campus as well.
Placements are common, the administration is common, Kolkata has a better infrastructure, they have the same academic rigor in both the campuses, the competitions open for IIFT Delhi is automatically open for Kolkata as well, even if it is written IIFT Delhi in the eligibility criteria of the Corporate competitions.
|
Categories |
IIFT Kolkata |
IIFT Delhi |
|
Course Fee |
8-16.25 lakh |
8-16.25 lakh |
|
Placement Percentage |
90-100% |
90-100% |
|
Highest CTC |
29 LPA |
20 LPA |
|
Average CTC |
19.23 LPA |
15 LPA |
|
Recruiting Companies |
LOreal, Dell, Phillips, ITC, Shell, HSBC |
Goldman Sachs, JPMC, Unilever, Godrej, TCS, P&G |
Though the placements are common for both the campuses, I have heard that a few companies consider only IIFT Delhi students. You may even face some discrimination outside your campus life, as people are not fully aware of the IIFT structure. Some think that IIFT Delhi and Kolkata are different B Schools operating independently, thus creating the ground for inequity.
Hence, IIFT Kolkata is not a bad choice, but IIFT Delhi has certain privileges. In case you convert to IIFT Kolkata, you will enjoy the common perks as well.
Which would be the best choice among IIFT Kolkata, IIM Trichy and other new IIMs for someone with strong interests to pursue a career in finance?
IIM Trichy is an ideal choice for pursuing a career in Finance. Many reputed banks visit the campus for recruitment like Citi, ICICI Bank, and YES Bank. This year the Finance sector accounted for 15%of the total placements. The highest CTC stood at INR 20 LPA whereas the average CTC stood at INR 17.67 LPA.
The IIFT program of Kolkata may have an upper hand due to its location but it’s not at par with IIM Trichy. If you are interested in the program I suggest you go for the New Delhi one.
The new IIMs are somewhat similar to Trichy but they won’t help you kickstart a career directly in finance. You might have to take baby steps to enter the Finance sector. So it’s best if you choose IIM Trichy only.
Should I join IIFT Kolkata given the current covid scenario?
You must decide the reason before going for MBA - is it sluggish career growth or do you want to upskill or diverting career to management/ entrepreneur.
IIFT Kolkata is no less than IIFT Delhi. There are central placements for both campuses. The majority of the companies do not differentiate students based on campus. Therefore, the opportunities for both campuses are similar, other than the fact that the NIRF Ranking for Management 2020 of IIFT Delhi being at 26th rank.
IIFT in Covid Times
- IIFT Kolkata offers a two-year MBA (IB). The macroeconomic situation of the country is hard to predict. The expectation is to recover in the coming years. By the time you graduate, the placements are to show positive trends as per expectations.
- The intake of IIFT is small as compared to other B-Schools. So, it's an advantage especially, at the Covid-19 times when things are going virtual.
- The Summer Internship (SIP) might not be the best, but IIFT is a prestigious institute having good relationships with several renowned companies. So, a high probability that IIFT will be on their list of recruitment. The profile might not be your dream. But in the long run, it will turn out to be beneficial.
The placements are secondary for an MBA. The main thing is the objective of your MBA. If you look forward, joining IIFT is an excellent choice.
What is the placement like at the IIFT in Kolkata??
IIFT Kolkata placements have been excellent for recent years. It maintained a record 100% placement rate over the last few years. Here are the 2020 placement highlights for the institute.
| Parameters | Statistics |
| Total no of recruiters | 125+ |
| Highest international package | INR 75 LPA |
| Highest domestic package | INR 46.45 LPA |
| Average package | INR 20.48 LPA |
| Average package of top 100 students | INR 29 LPA. |
ITC, City Bank, L&T, Phillips, TATA Sky, L’Oreal, etc. are some of the major recruiters to take part in IIFT placements.
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