MBA aspirants work hard to enter the college of their dreams. A good business school must provide holistic experience in terms of courses, curriculum, corporate exposure, faculty, placements, and facilities. With thousands of b-schools mushrooming in India, there needs to be a standard benchmark system to understand what these colleges have to offer. B-school rankings are one such way. They play a crucial role in shaping opinions and perspectives. They also echo the academic and infrastructural quality of an institute.
B-school rankings are a methodological framework of metrics that assess and capture their performance. Rankings help students and parents make informed choices. They are also a means for institutions to identify areas of improvement. Various government and private agencies and online portals release rankings every year or every two years. Some popular rankings in India are –
- National Institutional Ranking Framework (NIRF) B-school Rankings
- Outlook – ICARE India MBA Rankings
- ET B-School Rankings
- Times B-school Top 100 Management Institutes Rankings
- Business Today India’s Best B-schools
Parameters Determining B-school Rankings
There are different parameters based on which b-schools are ranked. Some critical data points based on which the rankings are determined are –
- Networking Opportunities
- Accreditations and Memberships
- Return on Investment
- Alumni Base
- Entrepreneurial Exposure
- Student – Faculty Ratio
- Diversity – Gender, Academic
- Industry Connect
- Research & Consultancy
- Infrastructure & Facilities
Implications of B-school Rankings
B-schools are scored based on the weightage given to different parameters. The rankings help answer the following questions:
- Are the faculty qualified and experienced?
- Are existing recruiters happy and new recruiters welcomed?
- Are the classrooms well-equipped with all modern-day facilities?
- Are the placement statistics promising – types of companies visiting, average, median & top salaries, etc.
- Does the college provide exposure to industry expectations and offer corporate connectedness?
- Does it provide social, cultural, entrepreneurial exposure?
- Does it offer state-of-the-art infrastructure facilities?
- Does it have an excellent academic and employer reputation?
- Do global outreach programmes give ample networking opportunities?
- Is the curriculum comprehensive and industry-oriented?
- Is the quality of publication and number of citations high?
- Is the student-faculty ratio appropriate?
- Is the alumni network vast and well-spread?
- Is it value for money - return on investment, increase in pre-MBA & post-MBA salaries?
- Is there academic, social, cultural, and gender diversity?
A positive response to the above questions reflects high of the b-school.
Benefits of B-school Rankings
Top rankings help institutions, prospective students, and recruiters in the following way –
- They help increase the number of applicants.
- They enhance the quality of applicants applying, which reflects on results.
- They attract quality and seasoned recruiters during campus placements, which promises lucrative roles and decent starting packages.
- They increase the alumni contributions towards the institution, which enhances its brand value.
- They ensure improved infrastructure facilities which provide up to date platform to the students.
Rankings help assess the quality of education a b-school offers. However, it is essential to understand that the prime focus while choosing your dream college should be on the individual parameters in line with your career goals and expectations.
Stay informed, Stay ahead and stay inspired with MBA Rendezvous