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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.
How much does graduation CGPA matter in MBA placements in XLRI or JBIMS?
Yes, you might be able to get into UIET Chandigarh with a JEE Main rank of 74,000. The most likely branch that you will get into as a general category is ECE, EEE, or Mechanical. Things will change if you belong to a reserved category student and you might be able to score a seat in CSE.
Here is the latest required cutoff for UIET.
|
Course |
General Cutoff |
|
|
CSE |
945-24246 |
6037-46660 |
|
IT |
24265-35348 |
47120-57861 |
|
ECE |
25258-42196 |
61291-72506 |
|
EEE |
25564-51542 |
58269-73014 |
|
Mechanical Engineering |
30059-56234 |
72430-84878 |
|
Biotechnology |
51181-85699 |
90951-124482 |
Based on this ranking, the hostel is only allocated in biotechnology and engineering without the hostel in Chandigarh is costly, so try to get into the hostel. Other than this, some private hostels will give you everything essential, but they come at a huge cost.
What are the college timings for an MMS course at JBIMS and Sydenham?
Any typical day at JBIMS depends on your workload and the ongoing semester. The duration of lectures is 3 hours with a small break. The lectures take place in the following shifts
- 7 am-10 am
- 2 pm-5 pm
- 6:30 pm-9 pm
There might be one, two, or three lectures depending on your course. Another set of events that constitute a major part of your day is committee-related events like competitions. Apart from that you are always busy preparing for your presentations and assignments. Attending guest lectures is mandatory and no one can evade them.
The first semester is the busiest as it’s packed with induction, committee election, summer placements, and lectures. You won’t be able to sleep more than 4-5 hours a day and then soon adapt to the strenuous college life.
Is it worth to join an MBA at JBIMS at the age of 28 having lot of academic gaps and no any work experience?
Joining JBIMS for MBA without any work experience may have a slight drawback. Whether the overall experience will be worth it or not, depends on the exact purpose with which you have started on this journey.
With all honesty, your lack of experience and academic gaps will have a negative impact on your placements. Getting higher packages will be almost impossible as companies might object to your flaw in the profile. I am not saying that MBA will be a bad choice, but it will benefit you academically and not financially. It will increase your knowledge and skills and add value to your CV thereby improving your initial situation. But as far as placements are concerned, you will be slightly at a disadvantage to others.
You will be eligible for the final placements only and not the lateral ones. Many companies may or may not put filters on age, work experience, and academics. It all depends on the particular company and your luck. With excellent communication skills and content building, you can make your way into the interview and much more. But you have to strive hard for a very long time as the race is a difficult one for you. If you can prepare well with no pressure or expectations, especially during the summer internship process, you should be fine.
Coming to the knowledge and skills that you will acquire during the MBA, it will certainly have a positive impact on you. You will be able to get rid of negativity and focus on acquiring maximum knowledge.
Still, at the end of the day, I will advise you to get a job and get a level of experience to make your journey a bit easier.
Is it advisable to settle on JBIMS, if one only aimed for IIM's?
Comparing JBIMS with IIMs is highly unjustified as IIMs are way ahead of JBIMS or FMS even if we consider the ROI. They are unique in many aspects such as
- IIM ABC and ISB is the only B-schools that offer Investment banking profiles in placement. Even if we look at other profiles, it’s easy to infer that they are much superior in terms of quality than the ones offered at JBIMS.
- Being a pass out of IIMs or ISB, you have an upper hand in the higher spectrum of one’s career, i.e, leadership roles.
- JBIMS or FMS lack the general ambiance and culture of a typical B School due to a lack of residential and campus facilities.
- The peer quality of IIMS and ISB are much better than JBIMS whose gender ratio, diversity, and competitive exam are very one-dimensional.
- The only significant aspect of JBIMS is the ROI which when negated makes JBIMS as mediocre as SP Jain and MDI.
- The placement statistics of JBIMS are much similar to that of new IIMs or average B Schools like MDI, and SP Jain. They are in no way in comparison to the top IIMs even with batch sizes as small as 120.
So one should choose JBIMS or FMS over IIM only if one wants to spend low fees, take no loans, or pursue MBA in Mumbai or Delhi.
Which one is better: IIFT Delhi, JBIMS or SP Jain (Marketing) if I was looking for good placements and brand and I have converted all three?
To choose a college that is perfect for you, one needs to ponder various questions repeatedly. These questions will help you get a clear idea about what you want from MBA and which college will help you achieve that.
- Which area do you want to specialize in?
- Are you included towards functional level clarity (Operations, Finance, Marketing, Tech) or granular level clarity (FMCG marketing/Digital e-commerce marketing/Sales or Product Management/Project Management or General Management)
If the answer to it is yes, then analyze the reports of these institutes to find where each one of them stands. Looking at average CTC is not the right way and is in fact misleading.
Other things you should consider before choosing a B School are
- The admission procedure and the level of difficulty of entrance exams if these colleges
- The practicality and relevance of the curriculum as per the recent industrial trends
- The profiles of your batchmates and their diversity The size and brand of the alumni base and the opportunities you will be availing through them
- The importance of overall personality grooming
One thing you should keep in mind is that brands are just a stepping stone in your career journey and not the main factor. These institutes have been able to establish the brand name mainly because of where their alumni have reached now. So brands are helpful in the short run only.
How is a MSc Finance from JBIMS?
While considering the worth of any program you should consider 3 factors namely curriculum, peer learning, and profiles offered. Let’s discuss M.Sc Finance from JBIMS on the basis of the following factors
- Curriculum: The course structure is pretty good and the quality of knowledge one acquires is also decent. Experienced alumni are invited to hold sessions that explore corporate values. The teaching faculty is also learned and experienced.
- Peer group: Only 30 seats are available for this course so only the best and the cream students are selected. This is also why the peer crowd is extremely talented and there is cut-throat competition. Good peer learning enriched the overall experience of the program.
- Profiles: The placement opportunities are great at JBIMS and the alumni are always there to assist you. The profiles offered both in internships and placements are also decent. The students are encouraged to participate in competitions to upgrade their skills and gain exposure. Sharing the campus with MBA students adds up to the overall experience.
How is XIMB, MICA, JBIMS and SIMSEE Mumbai for MBA?
Here's a closer look at each of these institutions:
- XIMB: XIMB is one of the top-ranked B-schools in India, offering a two-year full-time MBA program with various specializations. The institute is known for its academic excellence, experienced faculty, and industry-driven curriculum. XIMB has a rigorous selection process and admits students based on their CAT, XAT, or GMAT scores, followed by group discussions and personal interviews.
- MICA: MICA is one of the top institutions in India for a specialized MBA in communications management. The institute is known for its strong industry connections, experienced faculty, and innovative curriculum that focuses on various aspects of communication, branding, and marketing. MICA also has a rigorous selection process and admits students based on their CAT, XAT, GMAT, or MICAT scores, followed by group discussions and personal interviews.
- JBIMS: JBIMS is one of the oldest and most prestigious B-schools in India, offering a two-year full-time MBA program. The institute is known for its excellent faculty, strong alumni network, and rigorous curriculum that emphasizes real-world business applications. JBIMS has a highly competitive selection process and admits students based on their CAT, XAT, or CET scores, followed by group discussions and personal interviews.
- SIMSREE Mumbai: SIMSREE is a well-established B-school in Mumbai, offering a two-year full-time MBA program. The institute is known for its experienced faculty, diverse student body, and rigorous curriculum that covers various aspects of management. SIMSREE admits students based on their CAT, XAT, or CMAT scores, followed by group discussions and personal interviews.
Among the four B-schools mentioned, JBIMS has the strongest placement record, followed by XIMB, then MICA, and finally SIMSREE.
Is it worth doing an MBA from Indian B-schools like SCMHRD or JBIMS or will I always be inferior to those from top IIMs or XLRI?
Doing an MBA from top IIMs and XLRI have its advantages. These are the best management schools in the country and offer excellent career opportunities and exposure. But it doesn’t necessarily mean pursuing an MBA from JBIMS will not be worth the investment. It ranks right after IIM ABC, XLRI, and FMS. It has maintained a stellar placement record over the years. JBIMS placements 2022 concluded with an average CTC of INR 27.63 LPA. The return on investment is great.
SCMHRD isn’t as reputed as JBIMS. But it is also a good B-School with decent placement record. The average CTC for SCMHRD is around INR 16 LPA.
How is the daily life of a first year MMS student at JBIMS?
A first-year MMS student at JBIMS is jolted out of his comfort zone and thrown into a plethora of assignments, projects, knowledge sessions, virtually extempore presentations, quizzes, etc. You will experience a roller coaster of emotions and events and it can take a toll on you at least in the initial months.
The tight deadlines and sleep sacrifice will pave your way through the 2 years. You need to have tons of self-belief and perseverance that you are definitely going to make it through. This will in fact make your experience a thrilling one.
Looking around the campus you will find a highly energetic group of students always discussing an impending crisis. Students will always be seen carrying newspapers or magazines inside the campus.
As time goes by you adapt yourself to the tight deadlines and rigorous environment such that submitting assignments becomes a normal task and is thought to be accomplished in 2 days and preparing for presentations takes just a single night.
You can escape the stress and rigid campus life by taking part only in the compulsory events but that won’t help you to make the most out of your college life. Additional events like -
- Guest lectures maximizing corporate exposure
- Experienced in-house and visiting faculty
- Illustrious alumni base ever-ready to be the guiding lamp to the students
- Student-driven committees undertaking various activities lending some worthwhile hands-on experience in management
- Annual festival Prayaag
- Research presentation event Strategym
- Opportunities to participate in intercollegiate fests
All these opportunities in addition to the mandatory academics will help you maximize your experience at JBIM
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