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In today's time, which option would be the best- IIM Ranchi or IIM Udaipur?
Having some friends studying in both the IIMs has given me some insight into the institutions. I can say that there is no significant difference between the two IIMs. They're both doing well. However, the impression is important, and Ranchi now has a stronger reputation than Udaipur, which may be due to its somewhat higher placement figures.
Ranchi will win out over Udaipur. As a result, you make your decision depending on your criteria. You will not regret it if you join any of them. In the end, it should be a personal choice based on your research and priorities. Always be grateful for the fact that you got admission to an IIM.
| Categories | IIM Ranchi | IIM Udaipur |
| Course Fee | 9.75 lakhs | 15.5 lakhs |
| Highest CTC | 27 LPA | 22 LPA |
| Average CTC | 12 LPA | 12 LPA |
| Recruiting Companies | Flipkart, Deloitte, IBM, DE Shaw, etc. | Cisco, Pidilite, ICICI Bank, Goldman Sachs, etc. |
During this two-year journey, you will experience the highs and lows. But one thing is certain: you will cherish every last detail of it in the years to come.
Does an IIM tag from a newer IIM (say IIM Ranchi) help in a person's career?
The question is too general. Yet I will share my own opinion.
Indeed, IIM Ranchi has the potential to help you clear the obstacles in your career and climb the success ladder. It’s the following aspects of IIM Ranchi that make it a good option to uplift your career
IIM Tag: In this era of tough competition, it’s the IIM tag that helps you avail the finest benefits after an MBA.
Growth: All the news IIMs focus on the general development of its students at large. Unlike older IIMs you can initiate committees and clubs that have never been established before. You can take the reins and enforce student culture at your college.
Long-term benefits: While joining a new institute one should definitely look at the bigger picture. After all, once even IIM Ahmedabad was a new IIM but today it has its own legacy. The same will happen with all the other new IIMs so you shouldn’t lose this opportunity just for short-term benefits.
Placements: We are quick to judge colleges based on its placement statistics. In reality, Management is a field in which lifetime value is considered not salary. Yet if you base your decision on placements this year's statistics are as follows
|
Particulars |
Statistics |
|
Number of Recruiters |
250+ |
|
Number of Students |
325 |
|
Highest Salary |
INR 32.21 LPA |
|
Average Salary |
INR 16.17 LPA |
|
Top Recruiters |
Deloitte, Aditya Birla Group, Infosys, EY, IBM |
|
Major Sectors |
IT/ITES, Consulting, BFSI |
These packages may seem lower than those offered at older IIMs but with excellent work, you can climb the ladder gradually.
Curriculum: The pedagogy is as good as any other top B School. You can gain a lot of knowledge just by attending the lectures conducted by the learned faculty alone.
Some points that might be important to consider against your decision to join IIM Ranchi are
- The infrastructure is not at par with other IIMs
- The distance between the campus and accommodation is very much.
- You will be offered lower packages as compared to older IIMs
However, I don’t think these points can overshadow the plethora of opportunities IIM Ranchi offers.
Considering that my profile is: 10th- 89.2 12th- 74.2 Grad. (Engg)- 8.5 PG- 8.0, which one is better: the NMIMS Mumbai, the IIM Rohtak, the IIM Raipur, the IIM Ranchi, the IIM Trichy, the IIM Udaipur
The aspects of judging a college’s worth depend on the following factors
- legacy
- alumni experience
- perception among peers
- quality of students
- faculty
- institute culture
- events and activities
- pedagogy
- Summer and final placement opportunities
NMIMS renders you short-term advantages but IIMs offer many long term advantages. Even the faculty is better at IIMs than at NMIMS. But being a new institute, it lacks an alumni base. Any far-sighted person can definitely say that your IIM tag will help you in the long run.
Now based on your list, the order is
IIM Udaipur>IIM Ranchi>IIM Trichy>IIM Rohtak> IIM Raipur>IIM Kashipur
Which IIM should I prefer out of IIM Udaipur, IIM Trichy, and IIM Ranchi?
I think that Udaipur is one of the most underrated IIMs. To elaborate on this point let me enlighten you with some amazing facts about it
- IIM Udaipur is the youngest B-school in the world to rank in the top 100 FT(Financial Times) Masters in Management ranking globally.
- It ranks better than IIM Indore
- It is ranked along with IIM Indore in the 101+ category in the World QS Ranking
- IIM Udaipur is the youngest B-school in India to get AACSB Accreditation.
- IIM Udaipur is ranked 4th in Research in India in the research ranking by UT Dallas and has overtaken Calcutta which is in the 5th position
In reality IIM Udaipur is an IIM that has an extensive research culture. The rankings are a reflection of how quickly it has climbed the ladder. It is due to its high-quality research that many excellent permanent faculty has become a part of IIM Udaipur. This does not make it the best IIM but still, it is heading toward becoming the best.
Another major attraction of this institute is its impartial nature in every aspect be it placements or admissions. The students are not deceived at any point at all.
The placement statistics are seeing a gradual improvement over the past few years.
|
Particulars |
Placement Statistics |
|
Placement Percentage |
100% |
|
Batch size |
315 |
|
Number of Recruiters |
184 |
|
Highest CTC |
INR 35.96 LPA |
|
Average CTC |
INR 19.5 LPA |
|
Top Recruiters |
American Express, Asian Paints, PwC |
These figures are expected to rise in the coming years. All this makes IIM Udaipur a good choice.
Is it worth choosing IIM Ranchi, Trichy for MBA in terms of placement and future scope?
Yes, you can easily choose IIM Ranchi or Trichy based on their placement statistics because the placement scenarios at both IIMs seem promising despite the lack of infrastructure and campus facilities. In many cases, Trichy and Ranchi have exchanged leads outside the ABC and LIK worlds. All can be overcome if you are taught by the best professors.
Elaborating further, IIM Trichy seems better than Ranchi or Rohtak to me. The reason being the superior teaching methods and its favorable location both for students as well as recruiters. Apart from Trichy, other IIMs are also doing fairly well compared to non-CAT MBA institutes. These are doing well with the help of sponsor IIMs which arrange faculty and placements. These in turn select their own Directors and invest in the infrastructure required in another 3–4 years as Trichy and Ranch have already done.
What are the hostels like in IIM Ranchi?
IIM Ranchi does not have its own permanent campus. Yet it’s hostel facilities are one of the best. At a distance of 30 minutes from the campus, it’s hostel is in a peaceful location. It is based at National Sports Housing Complex, Khelgaon, Ranchi. It offers the best hostel facilities and makes your college life comfortable and easy.
- single occupancy rooms
- Common mess and laundry facilities
- Gym
- Library
- Computer center
- Washrooms are clean with geyser
- Mega Sports Complex
It is the last point that catches the attention of many. The students of IIM Ranchi have access to the Mega Sports Complex which is a national stadium. All the sports freaks can pursue their passion here amongst the hectic academic schedules.
How is IIM Ranchi MBA finance?
Since you are curious about finance only, I will try to answer your question based on the Finance domain only. To elaborate let’s consider the following merits and demerits
Merits
- Placements: IIM Ranchi is a new IIM so you cannot get front-end IB roles right off the bat. Yet it offers many roles that can be your stepping stones into the finance world. It does not offer front roles in IB, PE, VC, and bulge bracket equity research. One cannot expect such roles in the near future. But the fact is all these roles are available at the top IIMs only to the cream students. So if your profile is the same, changing the institute won’t matter. Many reputed Investment Banks offer middle office roles like Private credit, Debt capital firms, and Outsourced financial research firms. These roles can kick start your career in finance if not grant you a high-paying job.
- Faculty: The finance faculty is just average here and only those who are really motivated and determined can survive. Some even quit finance in the second year due to the same reason. The teaching quality is diverse and some may find it not at par with their expectations.
- Crowd: Most of the students opt for Finance as one of their majors in the second year. Additionally, a team even won the CFA RC India competition and represented India in the Asia Pacific finals. So the crowd is diverse and of premium quality.
- CFA: The CFA Certification aims at enhancing finance knowledge and placements at large. The class lectures combined with the theoretical knowledge of CFA will make it very easy for you to understand Finance in depth.
Demerits:
- Lack of major front-end role opportunities
- Tools like Bloomerang are not much common in the curriculum
- The relatively new courses in Finance like PE/VC, alternative investments, REITs, SPACs, IPO financing, and M&A are not given enough focus.
- The teaching faculty needs to be improved
All in all I think IIM Ranchi is a decent choice for Finance and in the years to come will have improved a lot.
How is the interview process at IIM Ranchi?
My friend got a call for an interview from IIM Ranchi. Her CAT score was 97-98 percentile and she had around 4 years of experience. She was called in by 3 male panelists who first asked her to introduce herself and speak about herself. When they felt she was comfortable enough they started asking questions like
- The name of one Power manufacturer in Hyderabad
- How hydroelectric power is generated
- Where is Asia’s first Hydro-electric power situated
- Why she chose to pursue an MBA after working for 4 years
- What would she have done if there were no MBA colleges
- Her long term goal
- Her weaknesses
She was able to answer almost all the questions confidently. Her interview lasted for 30 minutes after which they asked her to leave. Fortunately, she was selected for the final shortlist. Based on her experience, she shared the following tips for anyone who is appearing for an interview
- Prepare your answers related to your current job and role.
- Conduct historical research about the places you have visited or stayed at
- Prepare strong points that will help you turn the table in the worst-case scenarios.
- Read current affairs and news headlines
- Be your genuine self. Trust me this will help you win their favor more than anything else.
So give your level best with utmost confidence and you are good to go.
Why is IIM Ranchi considered the best among all the new IIMs?
- Good faculty
- Better placements
- Strong alumni base
- Inflated CTCs
In fact all the new IIMs are developing and in a decade or two they might be at level with Kozhikode or Lucknow if not A B or C.
Now what sets IIM Ranchi apart from the other new IIMS is its HRM degree in addition to a PGP degree. This tactic has helped Ranchi gain alumni in the HR sector. These alumni prefer their own institutes for placements. Many other B Schools like XLRI and MDI have implemented this strategy to climb the ladder quicker than others.
Generally, IIM Trichy, IIM Udaipur, and IIM Ranchi are of the same level but this strategy has somewhat differentiated Ranchi from the newer IIMs.
How is the campus life at IIM Ranchi?
IIM Ranchi students experience a lavish campus life because of the serene location of their hostel and many world-class amenities. Some of them include
Hostels: The hostels are located in the National Sports Housing Complex, the venue for the 2011 National Games held in Ranchi. Some facilities provided by the hostel include
- Amazing view
- Single occupancy rooms
- Attached bathrooms with geysers
- Drinking and laundry facilities
Khelgaon Sports Complex: This is for all the sports lovers out there who want to pursue their passion along with academics. The students are permitted to use the Stadium which is a 2-minute walk from the campus.
Food: Food can be delivered from the in-campus tuck shops and the Night canteen to the hostels.
College Events: The college hosts its annual events at grand hotels in the city. Some major events include Radix – the Business Conclave and TEDxIIMRanchi.
Location: Located within the city, almost every faculty can be availed easily. Be it groceries or footwear everything is available at a quick distance from the campus. You can even run to a nearby cafe and give your taste buds a change of food between breaks and then come back for classes. The distance between the hostel and the campus is a 30-minute bus ride.
Travel: IIM Ranchi is the best for people who want to explore nature and relax after a week of tight schedules. The beautiful dams and waterfalls are picturesque and will take away all the stress. Bus facilities are available during weekends so that students can travel to the central area for shopping or other errands.
Khelgaon Community hall: The students of IIM Ranchi can access this hall for weekend get-togethers and college events like Batch Parties.
So without a permanent campus, IIM Ranchi does have its demerits, yet if you are diligent you can create many amazing memories even without it.
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