The Indian Institute of Management - Bangalore seems to have found its own success mantra — global connect.
Although other management schools in India are also looking West, IIM-B has spruced up its Student Exchange Programme with “brother campuses” in North America, Europe and Australia, opening windows to the world.
And it works the other way round, too. Pankaj Chandra, director, IIM-B, said: “We are making serious efforts to enhance the quality of learning and research so that IIM-B remains the preferred management school for students with global aspirations.”
Postgraduate programme student Pranay Shetty said: “My exchange programme at the University of Cologne was an experience of a lifetime. From living with students from across the world to backpacking across Europe, each day was a series of exiting experiences.”
Every year, nearly 50 per cent of IIM-B students get to spend a term in partner institutes across 60 universities in 17 countries over four continents.
Then, more than 170 students from over 100 institutes in 26 countries undertake a term of study at IIM-B every year.
Ranked second in the second HT-TNS survey this year, IIM-B has other attractions as well — a sprawling 100-acre lush green campus and top-of-the-class faculty are just two of the most obvious.
The institute’s efforts to develop a global brand over the years helped it bag an accreditation even from European Foundation for Management Education.
But the second rank, after IIM-Ahmedabad, hurts. For, in the Eduniversal Palmes 2009, in which 1,000 B-school deans from 153 countries voted for the B-school they would recommend in each country, IIM-B was awarded the highest recognition in India. It won 395 votes, and was followed by IIM-A with 345.
“It is surprising. Within India, we are ranked second, but the world finds us the finest B-school in the country,” an institute professor said.
What the institute authorities value most is the European Quality Improvement System (EQUIS) accreditation. EQUIS-accredited institutions must demonstrate not only all-round high quality, but also a high degree of internationalisation. And that’s where IIM-B scores.
“As we expand in India, IIM-Bangalore will continue to be a key source of talent. As a Day Zero recruiter at IIM-Bangalore, we have always found candidates who meet all the criteria,” said Vinod Nair, managing director of major recruitment firm, Diamond Consultants.
The institute also boasts of infrastructure comparable to top global schools. It was the first Indian B-school to go Wi-Fi. There are also more than 100 full-time faculty members here, giving it a faculty-student ratio of 1:6.
IIM-B students got over 15 international offers during the last placement season from companies like Nomura, Temasek, Procter & Gamble, Enzen, ArvinMeritor and the UAE Exchange.
Nomura is believed to have offered the highest salary package of R80 lakh in IIM-B. The institute, however, refused to comment on the recruitment, as it did not want to violate students’ privacy.
“The launch platform provided by IIM-B to its students hurls them far ahead of others in this competitive world, and the lessons learnt here form a foundation for the students to build on,” said Rajesh Varma, vice president of a private equity firm and a former IIM-B student.
What’s more, IIM-B has decided to refund the entire fee for the postgraduate programme to those who join non-profit organisations and work there for three years.
Now, that’s another first, at least for an Indian B-school.
Main courses offered: Post Graduate Programme in Management
Course fees: R13.70 lakh
Current batch size: 270
Male-female ratio: 225 (m): 45 (f)
Faculty-student ratio: 1:6
Placement season: 2010 — 5 days, 2009 - 11 days, 2008 - 8 days
Number of offers (2010): 330 for 268 students (average: 1.23 jobs per student)
Average domestic salary (2010): Not declared
Average international salary (2010): R80 lakh p.a.
Foreign placements (2010): 15
Famous alumni: Saugata Mitra, Chief Executive Officer, Marico; N. Ravi, Secretary, Ministry of External Affairs; Dr K Radhakrishnan, Chairman, ISRO and Ashok Sinha, MD, BPCL
Top recruiters: McKinsey & Co., Boston Consulting Group, Bain & Co., Booz & Co., A.T. Kearney, Nomura, Temasek Holdings, P&G, ITC and American Express