Here is the process given below:
The first name that comes to one’s mind viz a top Indian B-school is, the Indian Institute of Management or the IIM. IIM has 20 institutes and its five top institutes, IIM Ahmedabad, IIM Bangalore, IIM Calcutta, IIM Lucknow and IIM Kozhikode are the most sought after. Every year over 2 lakh MBA aspirants appear in CAT – the common admission test conducted by the IIIM to pursue MBA/PGDM/PGP programmes.
The admission procedure of the IIMs broadly includes, the CAT and Written Ability Test/Group Discussion and Personal Interview (WAT/GD-PI).
IIM Admission Process
The CAT exam is conducted at over 4000 centres across 147 cities in India in the last week of November or First week of December. The CAT result is declared in January. Once the CAT result is declared, the 20 IIMs, screen CAT candidate on the basis of marks scored by them and their academic record. A CAT cut off percentile is fixed for each IIM, category wise. Cut off percentile and weight allotted to CAT and other parameters varies for each IIM.
Factors determining selection for WAT/GD-PI are:
- CAT score
- Class 10 score
- Class 12 score
- Graduations score
- After the WAT/GD-PI is completed, Composite Score of each candidate is arrived at by calculating marks obtained by him/her viz various parameters.
Parameters of Final Selection
- CAT score
- WAT/GD-PI score
- Class 10 score
- Class 12 score
- Graduation score
- Gender diversity
- Academic diversity
- Work experience
Weight allotted to each of the above mentioned parameter varies for each IIM and the Composite Score is also calculated by each IIM individually. Also read: CAT score vs normalization process
The list of candidates selected for the second phase of admission process i.e. WAT/GD-PI will be made available on the website of each IIM, post the declaration of CAT result. Each IIM will send interview letters to the shortlisted candidates directly. Read more: CAT Selection Process – Check IIM Admission Criteria & Dates
Note : Not only IIM, the other PGDM institutes also follow same procedure as per their institute ranking
Admission to the course is the entrance exam based. Various entrance exams that are conducted for admission to the course are as follows:
To study Post Graduate Diploma in Management (PGDM) course, students must have secured good aggregate marks in both their graduation and entrance exams. Many colleges in India offer this course to talented students.
How to choose best B-School as per your talent and Budget ?
7 Parameters to consider in comparing and evaluating business schools. How to choose Business School – 7 Parameter to compare PGDM Programs
- Business School Rankings
- Program Specialization
- Course Structure
- Geographical Location
- Cost & RoI
- Job placement and career opportunities
- Scholarships offered
Business School Rankings: While rankings serve as a great data point to compare Business schools against each other, they should be used with a bit of caution. Different publications and online outlets have their own different rankings. These ranking are finalized using different methodologies and may measure different things. Thus, it is important to pay attention to the ranking methodology and criteria considered in the rankings.
Program Specialization: If you are targeting a job in the financial industry or you would like to start your venture and become an entrepreneur then a school which offers a specialization in these fields would serve as a stepping stone to your Post MBA career.
Also, certain schools due to their industry associations serve as feeder schools into certain career paths. E.g., 50.4% of Yale MBA graduates accepted roles in consulting. A school which offers a specialization in the industry you are looking to switch to or is renowned for its heavy recruiting into certain profiles would provide you an edge over the competition.
Course Structure: The course structure varies from MBA program to another. At a glance, schools may seem similar, but each one possesses a distinctive culture and management development approach.
Remember: It’s not just about whether you’re a fit for the program, but also whether the program is a good fit for you.
Geographical Location: Geography influences ties with recruiters, school strengths and the community environment. It is not surprising that London Business School, Columbia, and Chicago Booth have an excellent reputation in Finance. Located in cities which serve as financial hubs, they are well poised to provide the students who want to venture into finance-related roles a launchpad for their career. Similarly, schools located in California benefit due to their proximity to technology hubs such as Silicon Valley. Thus, it is important to look at the proximity of the Business School with the industries and the jobs which you are vying for after your PGDM.
Cost and ROI: While many rankings consider the ROI of Business School Programs, they look at different data points to arrive at different conclusions. For example, Forbes rankings consider five-year gain for MBA’s across a host of key areas. While other rankings, like the Economist, calculate ROI regarding 1-year gain to determine early value from first-year salaries against tuition. Thus, it goes beyond your coveted starting salary and is inherently individual.
Note : It is important to take a long-term view when considering the ROI of going to Business School. Time and again studies have shown, individuals who attended business school earn considerably more in a 10-20-year time frame than their peers who did not.
Job placement and career opportunities: It is important to evaluate if your Target B-Schools are well positioned to help advance your career goals and vision. Talk to alumni about their experience with the career services team, and review the programs career and employment report. Make sure to look beyond starting salaries and closely examine career statistics and recruiter data.The employment report reveals a rich amount of information, which can help you validate the feasibility of your post MBA career goals. Another important consideration would be the level at which graduates are hired into – are they leadership or C-suite roles in the organization. This matters differently to young and mid-career professionals.
PGDM Scholarships: While most business schools offer some form of financial assistance, it would be prudent to check and confirm with data available on the website, or by asking the admissions team. Prioritize this aspect based on the value you assign this criterion in selecting Business Schools.