The Indian Institutes of Management (IIMs) of Ahmedabad, Bangalore and Udaipur have seen an improvement in their performances for their flagship two-year Masters in Business Administration (MBA) programs in the Financial Times Masters in Management (MiM) Rankings 2020, while IIM Calcutta fell by four spots.
While IIM Ahmedabad rose from the 21st position last year to 20th this year, IIM Calcutta secured the 21st rank, falling from the 17th rank last year. Bharatiya Vidya Bhavan’s S P Jain Institute of Management & Research (SPJIMR) secured the 36th position to become the only privately run Indian B-School to rank within the top 50 in the FT MiM Rankings 2020. IIM Bangalore also shared the 36th position, rising from the 44th position last year, while IIM Udaipur rose four places to secure the 72nd rank from the 76th position last year.
Participants of FT Masters Biz School Rankings 2020
The number of MiM programs that took part in the ranking process also rose up to 114 in 2020, compared to 111 last year. To be part of the FT MiM Rankings, the minimum criteria for B-schools is to have full-time, cohort-based programs with at least 30 graduates per year. The B-schools should also have either AACSB or Equis accreditation with their courses being either one or two years in duration, which should be directed towards students who have little or no work experience.
The rankings are based on 17 criteria including current average salary, career progress, salary increase, value for money, women on board, female faculty, female students, international students, international mobility, international course experience, international board, faculty with doctorates etc., which vary in weightage.
The director of IIM Calcutta, Anju Seth commented that the rankings were, along with a source of motivation for strengthening the position of leadership that IIM Calcutta holds in several criteria, also a significant source of informing the strategic decisions of the institution. She added that “in line with our vision of global eminence, our continuing endeavour is to further promote curricular relevance, international engagement, and diversity for a dynamic learning experience that positions our students as global leaders.”
As per the institution, IIM Calcutta is at an advantageous position compared to its competitors since it’s the only B-school to be a part of the prestigious CEMS. The CEMS or the Global Alliance in Management Education is a cooperation of some leading business schools and universities with multinational companies and NGOs, whose alliance includes 33 academic institutions spread over 5 continents, along with around 70 corporate partners and 7 social partners globally.
The FT MiM Rankings are calculated on the basis of 2 different surveys – one completed by the participating business schools and the other by the alumni who completed their program in 2017. Ranjan Banerjee, the dean of SPJIMR commented that the school is focussed on industry integration, curriculum and experiential learning, while adding that “the FT ranking places a lot of emphasis on alumni performance in industry, and is thus a validation of our approach. We will continue to learn, innovate and get better.”
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