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Which one is better if I like both of them equally, 31 LPA in a big product-based company or IIM Lucknow?
Many people in fact almost everyone going to say that a package of INR 31 LPA is a more glittering option than MBA at IIM Lucknow. However, I beg to differ. My opinion is based on the thinking that no matter how much you earn, an MBA is always a game changer. This is because you learn a lot in a classroom full of masterminds and the best professors than you do at work. Although you might be able to apply those skills only after a long time that’s the case with MBA, it does not give you short-term benefits, it provides long-term benefits. It ends up being the reason for your success and excellence.
MBA is not a specialization but rather a general course. It teaches everything in finance, accounting, and marketing. A successful leader requires basic knowledge of anything and everything which is possible through an MBA only. It will open gates for you to carbon black manufacturers, Steel manufacturers, and so on. You can plan your career after your MBA and climb the ladder slowly but swiftly. From a tech company to a core company to a banking sector, you can switch your posts depending on your interests.
Another major advantage of pursuing an MBA is making some great friends that will become great leaders and broaden your networks.
What is your honest review of IIM Lucknow?
My honest review of IIM Lucknow is that no matter what gibberish you hear about it, it’s one of the best B Schools out there. The outstanding balance of ambiance, infrastructure, library, faculty, and a student-gender ratio ensures that you focus on your goals and studies completely.
My friend recently passed out from this institute and says that she has learned a lot from it. It has taught her to stay tight on her goals and not complain about tiny things. It has taught her to have realistic expectations and goals and how to achieve them.
The deadlines and rigor keep you on your toes and helps you acquire amazing time-management and pressure-handling skills.
Also, the batch at IIM Lucknow is very interactive and friendly so you won’t feel left out and end up making some friends for life.
What should I choose between SPJIMR Finance and IIM Lucknow, having converted both?
Honestly, both institutes have their own legacy and are excellent in the finance sector. Yet here I am writing some major points in favor of IIM Lucknow based on my cousin's experience.
Placements: The placements at IIM Lucknow for finance have been doing exceptionally well with the highest CTC standing at INR 53.34 LPA and the average CTC at INR 32.21 LPA. A good number of front-end roles, corporate finance roles, and foreign markets desks based out of India were offered.
- Front end: JP Morgan, Citibank, Morgan Stanley, Black Rock, Kotak, Investec, Avendus, Arga Investments
- Foreign markets desk based out of India: Deutsche Bank, Bank of Americal Merryl Lynch, Citibank, Goldman Sachs
- Corporate Finance roles: HUL, Mondelez, Airtel
Faculty: The top-notch faculty offers the best classroom learning backed up by Guest lectures and Industry workshops to promote maximum exposure.
Learning: IIM Lucknow offers a wide range of electives to choose from based on your interests. Some of them include Investor Psychology, Quantitative applications in finance, Project Finance, Corporate Banking & Risk Management.
SPJIMR is also a good choice for Finance but from what I have read, many major firms that visit IIM Lucknow don't visit SPJIMR so this might limit your opportunities to a small extent.
Why is the IIM Lucknow Brand value increasing over FMS's, in the opinion of MBA aspirants?
Before I even answer your question let me contradict it. No, the IIM Lucknow brand value is not really increasing over the FMS in any aspect. If anyone really thinks so then he/she is just after the brand name. To clarify my point, I have listed out some strong points in favor of FMS that might change your mind.
- A cost-benefit analysis that includes tangible and intangible asset(s) evaluation will prove the fact that FMS certainly does better. Apart from this the ROI factor cannot be underestimated in the case of FMS.
- Your purpose of pursuing an MBA will very much determine the brand value of a college. If you just want to attach a tag with you for life then IIM it is, but if you are looking beyond that and want to be exposed to a self-discovery journey along with MBA, then FMS is for you.
- The infrastructure is indeed lacking when compared to IIM Lucknow, but this never means that it fails to impart quality education. In fact, FMS has given birth to many top-class management leaders.
- The batch size is very low in comparison to IIM Lucknow. This simply means more opportunities and less competition.
- FMS is a very old institute almost 60+ years of age whereas IIM Lucknow has completed half of this time only.
So we can definitely conclude that FMS is a fairly decent choice and that it’s just a misconception that IIM Lucknow is increasing in brand value. Someone has rightly said
At an IIM you loan your MBA, but at FMS you own it!
How's the placement at IIM Lucknow?
IIM Lucknow is known for its lack of transparency and highly confidential placements. The reason was disclosed by one of my friends who was a victim of this secrecy. According to him, the figures revealed are that of just 150 students who get placed at good firms. They receive packages of around INR 20 LPA. The rest 300-400 students either land very low-paying jobs and most of them even stand unplaced. This cruelty is not brought to light by the authorities and placement committees.
The placement committees are the ones to be blamed for this partiality. It is said that they are highly involved in collecting heavy fines from students to get them placed. This makes it difficult for financially weak or morally upright students to get placed despite their talents and efficiency.
Usually, the average CTC is lower than other IIMs and is thus never revealed to the public.
So to get placed in IIM Lucknow you have to get involved in wrongdoings and illegal stuff which is not recommended.
Should IIM Lucknow be chosen over FMS or XLRI just for the IIM tag? It reeks of secrecy (no placement reports, no waiting list numbers provided without RTI) and barring the campus life I haven't heard
I have said this before. No college is better than the other. It’s just a matter of preferences and suitability. Yet you are here comparing some 3 best B Schools in India. Neither of the 3 colleges is lacking in any aspect. So you won’t be making a bad choice by choosing one from FMS, XLRI, or IIM Lucknow.
The most crucial step while choosing a college is checking your priorities and knowing what you want from the college and where you are headed to in the future. Once you are determined in what you are seeking no college can really stop you. So don’t worry about the confidentiality at IIM Lucknow. With the right mindset, you can make the best out of it. I think focusing on the following aspects will help you make a better decision
- Quality of education
- Campus life
- Career goals
- Big companies coming to the campus for placements
- Fees
Once you have set your goals, all the above 3 colleges will help you achieve them. Lastly, don't choose IIM Lucknow for its IIM tag. If you are honest with your goals, the IIM brand value is not more than a mere tag.
The minimum cutoff for the general category is 90, whereas the cutoff for OBC is 82 at IIM Lucknow.
|
Section |
Marks |
|
Verbal Ability and Reading Comprehension (Section 1) |
85 |
|
Data Interpretation and Logical Reasoning (Section 2) |
85 |
|
Quantitative Ability (Section 3) |
85 |
|
Total |
90 |
The final selection of a candidate is based on his position in the merit list. The merit list is prepared by calculating the Grand Total for all the students.
Grand Total = Shortlist Total + GDPI Total
I am fresher student studying at IIM Lucknow, I want to drop out. What are my chances of converting IIM-A,B, C after gaining 2-3 years of experience?
I don’t think it's wise to decide to drop out from IIM Lucknow when you already worked hard and cracked the entrance. You even succeeded in the interview and yet here you want to give it all up. Every year the level of difficulty of entrance exams like the CAT and XAT keeps changing. Students who might have scored 90+ percentile one year might score 40-60 percentile next year. It all depends on preparation and mindset. Meanwhile, you have already succeeded and gotten into an IIM so why take it for granted?
Yet if you are adamant about not continuing, I would suggest you just focus on your job and gain a lot of experience. Chances are that you might climb the ladder without an MBA or IIM. Many CEOs and CFOs don’t need an MBA to make them what they are.
Despite it all, if you are appearing again for CAT, then make sure you have a valid explanation of dropping out during your interview.
How was your IIM Lucknow interview experience for batch 2020-22?
My cousin appeared for the interview of IIM Lucknow for the 2020-22 batch. He claimed that most of the aspirants were top-notch and had him lower his self-confidence. There were 7 panels in total.
- WAT round: The topic for WAT was GDP growth vs Human Development Index(HDI). He had prepared the topic while preparing for the interview so this round went pretty well.
- PI: The personal interview witnessed many heated arguments among the candidates and interviewers.
As soon as my cousin entered the room, he was asked for the file. He asked him why he chose IIM Lucknow over ISB. My cousin praised the institute saying it was parred with many great other B Schools. However, the interviewer did not seem satisfied so my cousin added that the IIM tag was inevitable. They enquired him about his current job and his interest. He said he was interested in operations or supply chain management. The interviewer asked him why he was not into consulting.
He further asked him about his dream job, hobbies, and other stuff. They asked me what other calls I have converted and preferred the most. Lastly, they asked him why he chose IIM Lucknow over Rohtak. After listening to his answer he complimented him for his honesty and asked him to leave the room. Luckily he was selected and got into IIM Lucknow.
How many seats are there in IIM Lucknow ABM program?
Percentage of seats reserved:
|
Categories |
Percentage |
|
SC |
15% |
|
EWS |
10% |
|
ST |
7.5% |
|
NC-OBC |
27% |
|
PwD |
5% |
What is the expected ROI from IIM-Lucknow, other than networking and brand?
Don’t let people mislead you into believing that ROU is just a materialistic element and does not have much value. Once you are out of B-school you just want to have a financially stable life. The fees you have invested are much more than just fees. It is the skills, time, and foregone salaries of 2 years.
The jobs you land out of a B School are based on your past performance, especially during summer placements. In fact, many high-paying jobs in the B-school placement reports are Summer Internship PPOs.
IIM Lucknow is an outstanding institute considering the ROI aspect. Don’t let yourself into the delusion that MBA is for learning and not for money. If that were the case you would be better off doing a Ph.D. rather than a job.
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