I think I am the right person to answer this question as I have worked with graduates from the aforementioned top B Schools in India and my brother was a student at ISB. With the combined experience and knowledge I have, I dare to comment that ISB is an overhyped B school in India. What makes it stand is its amazing infrastructure, founding members, and the whole Western-style education. However, if you look at its academic style, I don’t find it very appealing. It fails to prepare students well and does not meet the standards of the 4 IIMs (ABCL) and XLRI.

Placements-wise one can comment that ISB is a notch better than XLRI and FMS but it is on the same level as IIM Lucknow. 

Ultimately, the brand value of a business school is a matter of personal opinion and is subjective.

I have seen many people forgo offers from MDI, JBIMS, and even IIM Bangalore just for FMS Delhi. There are a number of reasons pertaining to why people make this decision. Some have been listed below 

• Brand: FMS is one of the oldest MBA colleges and boasts a rich legacy and elaborate alumni base. It has given birth to many Managerial talents over the last decades and is a brand in itself. No doubt JBIMS is a good college but it cannot be compared with the brand name of FMS.
• Location: FMS boasts of a good locational advantage being situated in the heart of the country, Delhi. You can enjoy a lifestyle very similar to that of DU. Also, the budding startups and MNCs in nearby industrial areas like Gurgaon and Noida consider FMS the first choice for recruitment.
• Fees: The most distinguishing feature of FMS is its highly affordable fees in contrast to the hefty fees of other top B Schools. The fees are almost 1/10th of any other top B School while the placements are as good or even better than these B Schools thereby ensuring a spectacular ROI.

So your first choice has to be FMS unless you are willing to go for the Finance sector. In that case, JBIMS being situated in the Finance capital is a much better choice.

FMS Delhi is one of the oldest MBA colleges and attracts highly qualified individuals every year. Its rankings and placement statistics are living proof of its legacy and excellence. At no single aspect does JBIMS give an edge to FMS. Owing to its outstanding performance in delivering management talent every year, it attracts top firms for recruitment and the best candidates. The CAT cutoff gives an edge to the top IIMs and thereby causing great competition. The absence of a state/regional quota also ensures that students don’t have to compromise on quality and merit. Let’s discuss some more points where FMS gives an edge to JBIMS thereby proving its worth.

• Location: FMS is located in the National Capital of India whereas JBIMS is located in the Finance Capital. Being situated in the National capital FMS has professors that are linked to the political sector of the country. This is beneficial for domains of Finance and Consulting.

• Placements: Although many companies that visit JBIMS, visit FMS too, the number and quality of roles offered to vary. Also, JBIMS lacks offers from international companies like Deutsche Bank, Goldman Sachs, Bank of America, and Royal Bank of Scotland that offer IB roles in FMS. After analyzing the placement reports you can see that no significant Corporate Finance Roles have been offered at JBIMS.

• Consulting: Almost every firm that visits JBIMS, visits FMS too. But FMS enjoys additional offers from top firms like BCG and Avalon consulting offering strategic consulting roles. FMS also enjoys the participation of Cognizant Business Consulting, Infosys Management Consulting, and Capgemini.

• General Management: The domain of General Management is better at FMS than JBIMS. This is because the big names in the sector like TAS, Airtel, and Mahindra do not visit the campus of JBIMS

• Clubs and committees: There are many student-driven bodies at FMS, the” Finance Society, and the Consulting Club that offer assistance and additional skills and knowledge in the respective fields.

• Finance Lab: FMS is the 3rd Business School in India that has established a Finance club with 12 Bloomberg terminals facilitating applied research in financial markets and equipping finance students with research insights, concepts, theories, and best practices in financial markets.

All these features combined make FMS one of the best schools and definitely a better choice than JBIMS.

FMS Delhi is better than IIM Kozhikode. It offers better ROI. According to the recent highlights of FMS Delhi placements, students receive an average CTC of around INR 32.4 LPA. While the highest CTC goes up to INR 58 LPA. 

FMS has a smaller batch size compared to IIM Kozhikode. So, it’s easier for students to get decent placements. FMS is older than IIM Kozhikode and hence has a larger alumni base. 

Both FMS Delhi and IIM Indore are highly reputed institutes in this league. When it comes to making a choice between FMS Delhi and IIM A/B/C, FMS should be your priority without a doubt. The facilities and opportunities offered at FMS are better than IIM Indore.

If you have doubts regarding this choice of yours you can always weigh the factors to have a better consideration in this regard. 

• The location of FMS is highly suitable for the students as the institute is situated in the capital state. 
• The campus life and academics are more or less similar in both FMS Delhi and IIM Indore. 
• FMS is known for its extremely experienced and educated faculty. 
• The placement opportunities offered to students at FMS is tremendous. 
• Highly esteemed companies recruit students with splendid packages. 
• At IIM Indore, the placement opportunities are not as magnificent as FMS. 
• The ROI factor plays a role in favor of FMS. 

Although candidates tend to opt for IIMs for the name tag, FMS Delhi is a brand in its own and quite an influential one in this league. If you want a hassle-free university life and steady placement in the choice of your sector then FMS is for you.

Irrespective of the B school you choose between FMS and IIM Calcutta, you will surely have a bright future with many job opportunities. Had I been in your place I would have gone for IIM Calcutta for the following obvious reasons:

• Infrastructure - IIM ABC are well known for state-of-the-art infrastructure and facilities which is lacking in the part of FMS. The quality of college life is a crucial determining factor for any B School. IIM Calcutta offers a holistic B School experience.
• Brand value: Sole of the most eminent personalities like Indra Nooyi and Ramachandra Guha, have graduated from IIM Calcutta improving its overall brand name. This branch-name comes into play while setting up your own business.
• Alumni network: IIM Calcutta gives access to the elaborate IIM Calcutta alumni base. 
• Entrepreneurship: Another major perk of IIM Calcutta is its IIMCIP or innovation park to incubate promising startups. It has produced alumni like Ajit Balakrishnan (founder of Rediff.com) who have started and led successful companies.

FMS too has an elaborate list of successful alumni but IIM Calcutta is clearly a winner here.

For those who claim FMS provides better ROI, I don’t think a 20 Lakh loan might be an obstacle to your entrepreneurial plans. Most education loans have repayment periods of 15+ years and banks waive off interest rates and collateral requirements for IIM students. 

The peer pool of IIM Ahmedabad varies from that of other B-schools like SP Jain, FMS, and NMIMS because of the admission criteria and quality of intake. The majority of the IIM Ahmedabad batch comprises performing students with CAT percentile almost touching 100 percentile. and most of them got close to the 100 percentile in CAT and they get opportunities to study business studies in IIM A, B, and C. Very few students get into IIMs through the process of diversification only if they scored more than 80 percent grade in Xth, XII th and Graduate Examinations. The other B schools like SP Jain, FMS, NMIMS, or JB don’t have such strict criteria and the peer pool comprises students from diverse academic profiles rather than just top CAT rankers. 

This is the major point of difference between the two kinds of B Schools. As a result of this, IIM Ahmedabad students are offered better placement opportunities at the global level than these average B-schools.