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What is your review of Management Development Institute, Gurgaon?
My review of the Management Development Institute, Gurgaon is fairly objective and is based on my sister's review of the same. I have written a detailed review with elaborate pros and cons that might clear most of your doubts.
Pros
Campus: The campus is in the vicinity of all the dynamic places in Gurgaon like a cyber hub, sec 29, and golf course road. However, inside the campus, the ambiance is exactly different and serene. The infrastructure and campus are extremely beautiful, lush green, and well-built to give you a fairly dreamy experience.
No reservation: Unlike other B Schools, MDI Gurgaon does not reserve seats for minorities or any other groups. So the entire batch is usually 98 percentilers ensuring you avail the best peer learning experience.
Clubs: MDI Gurgaon has the usual clubs as well as the extraordinary ones like Unnati and Illumina Illumina is a disguised market research event, wherein a Diwali mela is organized on the campus. Marketing companies give out projects for market research to students who then create games to do research. Unnati is a fund operated by the students of MDI. Alums and students invest in it.
Faculty: The faculty keeps changing or retiring but the most permanent faculty is Prof. Sanjay Bakshi, who also runs a company called Value Quest.
Placements: The placements are definitely not at or with IIM ABC but are at level with IIM IKL or FMS.
Exchange program: The exchange program is one of the best in the country as almost one-third of the batch gets to visit Europe and get amazing exposure.
Alumni: MDI has its alumni in top positions in the corporate world as well as the startup world. Some of them include Paperboat, Instamojo, Cashify, etc. Some of the alums are in top positions like Amit Boni, who is the head of Motorola India.
Cons
Weak alumni base: The alumni meets are just official meet-ups not many are interested to attend. Only the recent batches meet and no one is interested in strengthening the network.
There are not many flaws one can point to this great Institute as you can see how the pros overshadow the cons and make it a good choice.
What are the chances of a fresher to get selected in FMS, XLRI, MDI with less than 60% in 12th?
It will be difficult to get into colleges such as FMS, XLRI, and MDI with less than 60% in 12th. But it’s achievable. FMS assigns 10% weight to 10+2 scores. So, if you manage to score around the 99.5 percentile in CAT, you will have a chance of getting shortlisted. You need to perform well in the GD-PI round as well. XLRI and MDI assign 15% weight to past academics and work experience.
So, try to work on your profile by adding extra-curricular activities. Also, prepare well for entrance tests and the GD-PI round.
Indian Institute of Management: Which one should I choose between IIFT, Delhi and MDI, Gurgaon?
Some reasons why you can consider IIFT over MDI are:
- Finance: IIFT is one of the few institutes in which most of the students go for finance as a major. Almost 50% of the batch are Finance majors. The campus is visited by Goldman Sachs, JP Morgan, and Axis Bank which recruit in large numbers, to name a few.
- Batch size: The small batch size at IIFT Delhi makes it a more probable choice than MDI Gurgaon. Comparing the placement reports one may infer that the statistics are almost similar except for IIFT having a slight advantage due to its stronger alumni base.
- Alumni base: For the last 59 years, IIFT Delhi has established a far richer and more established alumni network than MDI Gurgaon in comparison.
- Accreditation: IIFT is under the Ministry of Commerce, Govt. of India which also audits its placement reports.
- Entrepreneurship: As with other B-schools, IIFT promotes entrepreneurship among its students by teaching them about trades in addition to the standard course curriculum.
Many people I know chose IIFT over MDI Gurgaon and many did the opposite as well, after doing healthy research and a comparison of the two.
Is the average package at MDI Gurgaon really 18 LPA?
The following are the average salary trends observed during MDI Gurgaon placements over the last three years:
| Particulars | Salary Package |
| Average Package (2022) | INR 22.05 LPA |
| Average Package (2021) | INR 23.15 LPA |
| Average Package (2020) | INR 26.2 LPA |
The creators of the placement reports have the liberty to ensure that the maximum earning potential is considered. This is a competitive event that all B schools participate in. This practice, however, would not significantly alter the data because the variable component is typically around 10% of the overall CTC.
It is also worth noting that the relationship between opportunity and pay is not a straight line. Candidates frequently accept lower pay because the opportunity matches their interests and needs.
Is MDI better than the new IIMs and baby IIMs?
Yes, MDI Gurgaon is definitely better than baby IIMs in almost every aspect. Some major points of comparison between them are
Fees: The fees of the PGDM program at MDI Gurgaon are ?23.47 Lakhs (Total Fees) whereas the MBA fees of new IIMs are around 16-23 Lakhs. So MDI has higher fees.
Ranking: MDI Gurgaon ranks 13th by NIRF whereas the new IIMs come only after that.
Establishment: Almost all the new IIMs were established after 2007, whereas MDI has a great legacy because of being established as early as 1973.
Placements: The placement scenario is much better at MDI than at newer IIMs. I have drawn a comparison between MDI placement statistics and IIM Trichy, one of the best among the new IIMs.
|
Particulars |
MDI |
IIM Trichy |
|
Highest salary |
INR 1.14 CPA |
INR 34 LPA |
|
Average salary |
INR 26.65 LPA |
INR 17.01 LPA |
|
Top recruiters |
Microsoft, Google, HCL, Adobe |
Amazon, Dell, Nomura |
The table clearly proves MDI is a winner in the placement race when it comes to new IIMs. In fact in all aspects MDI wins the battle so should be the preference over new IIMs.
What will a graduate of SPJIMR/IIM-K/MDI miss out compared to someone graduating from IIM’s A/B/C?
This question can be best answered by someone who has had a taste of both campuses. Fortunately one of my friends was lucky enough to move to IIM Ahmedabad after studying for a year at IIM Kozhikode. He shared his experience and the various things that contrasted in both the B Schools.
Faculty: Being the topmost B School, IIM Ahmedabad does attract some of the best faculties that are experts in their fields. They had too much knowledge and experience to impart making the classes a thrilling experience.
Crowd: While the crowd at almost all the good B Schools attracts only the best, IIM Ahmedabad is famous for its exceptionally good peer groups with only geniuses and masterminds in their respective fields.
Academic rigor: Normally B Schools offer a very hectic life with academic pressure combined with placements and clubs and committee activities. But at IIM Ahmedabad the topmost preference is Academics only. You are required to attend 3 lectures of 75 minutes of case study daily. These case studies are extremely lengthy and on average you are required to read 300 pages every day. Such economic rigor is lacking in the case of IIM Kozhikode.
There are several more minor differences between IIM Kozhikode and IIM Ahmedabad but these 3 are the main things an aspirant needs to consider while choosing one of the two B Schools.
Which is a better option, MDI Gurgaon or IIM Shillong?
MDI Gurgaon is a better option. It has a better location and offers good placement and return on investment. It is situated close to a major city. So, you will get better opportunities in terms of placements, internships, live projects, etc.
It has a great placement record. During MDI Gurgaon placements 2022, more than half of the batch received salary package of INR 25 LPA. The average CTC for the whole batch was INR 23 LPA.
Should I attend MDI Gurgaon or IIM Indore?
Well, these two institutes cannot be positioned to compare with each other. However, the only benefit seen in the case of IIM Indore is that it will assist in accessing the alumni network of PAN India. This does not apply to MDI Gurgaon students. This is beneficial for the students who want to start their individual businesses and switch jobs to a higher profile in later days.
Rather, it is difficult enough to comments on the faculties, placements, and other facilities. Following is a brief overview of these two institutes considering the placement statistics.
|
Criteria |
MDI Gurgaon |
IIM Indore |
|
Placement Statistics |
100% |
90% |
|
Highest CTC |
40.79 LPA |
40 LPA |
|
Lowest CTC |
18 LPA |
10 LPA |
|
Average CTC |
22.05 LPA |
23.6 LPA |
The campus life at IIM Indore is awesome and the infrastructure is unparalleled. The institute has great competition and diversity. You will develop a good analytical and broader viewpoint. One of my friends opted for IIM Indore and he was happy with his decision.
How much do the top B-schools like the IIMs FMS, MDI, XLRI, SP JAIN, JBIMS, IIFT, and NITIE inflate their placement reports?
In the placement process, it is not always the B-Schools that are responsible for reporting inflated packages, but rather the companies. The figure reported by placement cells is referred to as the "Cost to Company" (CTC) and not the take-home salary. This means that simply dividing the CTC by 12 is not an accurate reflection of what you will receive in your bank account each month.
CTC consists of two main components: fixed and variable. The fixed component includes your basic salary, HRA, TA, LTA, employer's contribution to the provident fund, joining bonus, retention bonuses, and ESOPs. The variable component is based on both your performance and the company's performance and is paid out in lump sums either yearly or half-yearly.
Your take-home salary at the end of each month is calculated as basic salary + HRA + TA + other allowances - provident fund deduction - tax. The remaining amount is given to you at the end of the year. To illustrate how companies may inflate their CTC figures, here are a few examples:
- Amazon:
Fixed component: 9 lakhs
Year 1 end retention bonus: 2 lakhs
Year 2 end retention bonus: 1.5 lakhs
ESOP: 5 lakhs to be paid over 3 years
Performance bonus: separate/not reported CTC: 17.5 lakhs
Take-home salary: 65-70k
- Goldman Sachs:
Fixed component + Variable component: 14.5 lakhs
Relocation: 2,00,000 INR (one-time payment)
Supplemental Salary: 3,50,000 INR (supplemental salary is an accrued bonus paid out in monthly installments pro-rated from the date of joining, only applicable during the first year of joining)
CTC: 20 lakhs
Take-home salary: 95-98k
- RBS India Development Center (Royal Bank of Scotland back-end):
Fixed component: 9 lakhs
Variable component: 10-20% of a fixed component
CTC: 10.8 lakhs
Take-home salary: 65-68k
As seen from the examples, despite Amazon having a CTC that is double that of RBS IDC, their take-home salary is the same. This is the typical way it works. The placement teams likely do not have much control over the process.
Does MDI Gurgaon look into past academic background or work experience?
MDI's shortlisting process for the PGP 19-21 batch primarily considered CAT percentiles, and in a few cases, past academic scores.
Once you're shortlisted, the interview process at MDI is a two-part process. Firstly, the interviewer will emphasize anything and everything on your CV, starting with testing some basic concepts from your previous education. They will also test the basic foundations of the kind of work you have done.
The second part of the interview is an overall conversation about why you wish to pursue an MBA (PGDM in technicality) and what you plan to do in the next 3, 5, or 20 years. This is where you need to have a compelling story from your past and knit it with how you can make an impact after graduating from MDI.
Your ability to build your story and showcase how an MBA will help you achieve your long-term career goals will be critical in this part of the interview. So, be sure to prepare well and highlight your strengths and achievements to leave a lasting impression on the interviewers.
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