Get Answers on Test Preparation, Admissions & Campus Life
Study Abroad Countries
What is the best preparation strategy for the JBIMS MSc finance interview?
If you have a non-finance background, it is recommended that you begin your preparation for the JBIMS MSc finance interview at least 4-5 months prior to your interview for the MSc Finance course. You must be sure about your interest in finance, as M.Sc Finance is a very core course. If you have a finance background, you are expected to have a deeper understanding of the points mentioned below. Along with knowing the "whats", you must also know the "whys". In terms of preparation, it is important for you to:
- Be well-informed about the current market scenario and keep track of SENSEX, NIFTY, gold pricing, INR/USD, and oil pricing.
- Have a good understanding of the current Indian economy, including its GDP, inflation, and the factors that impact it.
- Stay updated with the RBI rates, including Repo, Reverse Repo, CRR, and SLR, and know their meanings.
- Be aware of the current global scenario, such as Demonetisation, BREXIT, and Trump.
- Consider the question "Why MSc Finance?" as the first and foremost point of focus in your preparation, even if you have a good academic background. You may still be asked why you chose MSc in Finance over an MBA or PGDM.
- If you have work experience, you must be familiar with your work and its impact on business.
By being thorough with all of these above-mentioned points, you will be well-prepared for the MSc Finance interview.
Is an MBA from JBIMS better than SP Jain from a placement point of view?
From the point of view of batch strength, JBIMS has a smaller batch size of 120 students, while SP Jain has a larger batch size of 300 students. The list of companies visiting both campuses is similar, but due to the smaller batch size at JBIMS, the options available per student are higher, resulting in better placement opportunities.
In terms of cost, JBIMS has a lower fee structure of approximately 1 lakh per year, while the fees at SP Jain can reach 10 lakhs per year when including all expenses. This results in a higher return on investment for JBIMS.
In terms of the quality of education, both colleges are equally good, but it is important not to only consider the quality of education when making a decision. Networking opportunities should also be taken into consideration, and JBIMS offers strong networking opportunities due to its strong alumni base.
In conclusion, both colleges offer great placement opportunities and it is up to personal preference and individual circumstances to determine the best option.
JBIMS saw a significant increase in average salary in 2022, rising over 20% to INR 27.63 LPA. The median CTC was INR 26.48 LPA, and the highest salary offered was INR 42 LPA. Consulting firms were a major presence during the placement drive, with companies such as Deloitte, EY, PwC, Accenture, Infosys, and KPMG among the top recruiters.
During the SPJIMR Placements 2022 Report, 75 recruiters visited the campus, with top companies including Accenture, Aditya Birla Capital, Amazon, and American Express. PGDM students received 123 PPOs/PPIs, with the highest salary offered at INR 53.16 LPA and an average salary of INR 32.06 LPA.
How should I start my MBA/CET preparation as I want admission in JBIMS?
To begin the MBA/CET preparations to get into JBIMS, you need to familiarize yourself with the paper pattern, if it is your first time writing the exam. You should also have a complete understanding of the syllabus and be able to recall each topic in detail.
Examine previous year's papers to get a better idea of the exam pattern and the weightage given to each topic. Approximately 90% of the questions in the CET exam are taken from banking exams such as IBPS PO, SBI PO, and Canara Bank PO, which are conducted by the Institute of Banking and Personnel Selection (IBPS). The CET exam is also conducted by the IBPS since 2016.
Note that the IBPS is known for tweaking sections and introducing new question types in their banking exams, but these changes may or may not be introduced in the CET due to the lower number of applicants.
To prepare for CET, you should start by establishing a clear understanding of each topic. Conceptual clarity is essential as even if you practice many questions, a lack of understanding will impede your progress. Next, focus on solving easy questions for each topic as this will lay the foundation for solving more difficult questions.
After building a solid foundation, take mock tests to simulate the real exam environment and familiarize yourself with the time constraints. You should aim to take at least 30 to 40 mock tests and analyze each one in detail. Quality mock tests include Oliveboard, Testfunda, and IMS.
To maximize your preparation, avoid watching too much free content, read for at least an hour every day, devote quality time to your studies, and stop procrastinating. Develop a habit of finding the meaning of unfamiliar words, complete Word Power Made Easy, and do not join any classes as you can do it yourself. You can also request electronic study material. Stay away from negative environments.
Why is JBIMS so reputed?
- Location: JBIMS is located in the heart of Mumbai, which is home to many financial company headquarters. The Western region of the country has become a B-school hub and besides JB, there are many top B-schools such as NMIMS, KJ Somaiya, and Symbiosis. Furthermore, Mumbai is the financial, commercial, and entertainment capital of India and JB's proximity to the commercial hub of India (Nariman Point) provides an added advantage.
- Ranking: JBIMS has been ranked 10th by the IIRF 2023 in the Management Category. Additionally, the Institute has been ranked 10th among the Top Public MBA Institutions in India by Outlook 2022. JBIMS has also received the 10th rank among the top 10 Institutes of India for MBA by the Week in 2019.
- Seats Allocation/Intake: JBIMS has an intake of only 120 students in a batch, whereas other B-schools admit nearly 400 students.
- Fees: JBIMS offers its program at an approximate cost of 6 lakhs, while other B-schools offer programs costing nearly 15-16 lakhs.
- Alumni Base: JBIMS has a strong alumni base and is known as the "Factory of CEOs." Notable alumni include Chanda Kochhar (MD & CEO of ICICI bank), Mani Ratnam (filmmaker), Vinita Bali (MD of Britannia), Uday Kotak (Chairman & MD Kotak Mahindra Bank), and Siddharth Roy Kapur (CEO of UTV Motion Pictures).
- Placements: Due to its small size, JBIMS has a record of 100% placement every year and boasts an average salary of 18.76 lakhs per annum.
Is the difference between JBIMS and Sydenham that much?
There is a difference between JBIMS and Sydenham, and it is important to understand it from different viewpoints.
Regarding student admission, the process is the same every year. If someone scores 99.9 or above, they will be admitted to JBIMS, while someone with a score of 99.8 will be admitted to Sydenham. The difference between 99.8 and 99.9 in terms of ability and aptitude is negligible, with only a few more questions answered correctly on a particular day making the difference. Thus, the difference between the top students of JBIMS and the top students of Sydenham is barely perceptible.
JBIMS has been consistently ranked among the top institutions for a long time and is likely to maintain this position. It is not likely that Sydenham will surpass JBIMS in the rankings. If JBIMS leaves the CET centralized process, Sydenham will become the top institute purely through CET.
There is a difference in the environment between the two institutions. JBIMS stands out from other MMS-offering institutes due to the work its alumni have done in the industry and the fact that some of its professors only teach at JBIMS. This may be the reason why 4-5 students from SIMSREE take the CET again each year to try for admission to JBIMS.
It is important to consider whether the tag of the institution will define you. The tag of the institution only matters for a few years, providing a head-start, but it is what you do with it in the entire career that depends on you. It is recommended to identify yourself within two years and strive to be better than the crowd, academically and in terms of internships and certifications.
If there is even 1% doubt that you cannot make it in the next admission attempt, it is advisable to evaluate your current situation, your goals, and how JBIMS or Sydenham fits into your plan.
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.
How prestigious is JBIMS as a college when we look at all of the India rankings? It doesn’t have very good ranks when I Google the best MBA colleges in India. Is NMIMS better than JBIMS?
JBIMS' overall ranking on Google is impacted by its infrastructure, as the current building is a 1965 construction. However, the construction of a new state-of-the-art facility at Kalina is underway, which will improve JBIMS' ranking in terms of infrastructure.
In terms of return on investment, JBIMS stands out as you pay only 2 lakhs for the entire course and receive an average placement package of 18 LPA. This is a better return than many other top B-Schools, including some IIMs.
JBIMS boasts a strong alumni network, industry-expert faculty, and an ideal location, which are all factors that contribute to its success.
When comparing JBIMS to NMIMS, it can be said that JBIMS is a better choice, with a lower fee structure, a better return on investment, a strong alumni network, and a more experienced faculty. Additionally, JBIMS has a smaller batch size of 120 students, which makes it easier for the college to place its students in top companies.
What is your review of Jamnalal Bajaj Institute of Management Studies?
Jamnalal Bajaj Institute of Management Studies, JBIMS is a prestigious business school that has four major advantages. These return on investment, alumni network, location, and faculty.
Return on investment is a key factor that sets JBIMS apart from other institutes. You can complete the entire course by paying only 2-3 lakhs, and the average placement is around 18 LPA.
JBIMS is located in Mumbai, a city that is home to many corporate headquarters. This makes it convenient for students to interact with top companies and increase their chances of getting a good placement.
The faculty at JBIMS consists of industry experts who have extensive knowledge and experience in top management positions. They provide students with an invaluable opportunity to learn from their experiences and expertise.
JBIMS has a strong alumni network, which is one of its defining characteristics. As one of the oldest institutes in the country, JBIMS has a vast network of alumni who are well-established in their careers. However, one area where JBIMS lags behind is infrastructure.
The current campus building is old, but there are plans for a campus renovation and JBIMS has been allotted land near Kalina. In the near future, this factor is expected to be overcome. In conclusion, JBIMS is a top-notch institute with several advantages, and if the infrastructure is ignored, it would receive a 5/5 rating.
Why is JBIMS and not IIM A or XLRI, known as the “CEO Factory of India”?
It can be affirmatively stated that JBIMS is considered one of the best business schools in India. The trio of IIM A/B/C holds a distinct brand value compared to other top colleges in the country and globally. The brand recognition and respect of the IIM institutes have increased due to its status as an "Institutes of National Importance" and the widespread accomplished alumni base both in and outside of India.
JBIMS boasts an impressive list of notable alumni, including Vinita Bali, the Managing Director of Britannia, Lalita D. Gupte, Chairperson of ICICI Venture Funds Management Company, and Chanda Kochhar, Managing Director & CEO of ICICI Bank, India, just to name a few. Moreover, the Managing Directors and CEOs of some of India's largest companies such as ICICI, HUL, Kotak Mahindra, and Piramal are alumni of JBIMS.
Do graduates from IIMs and JBIMS get the same salary in MBB?
It is important to understand that MBB, a Management consulting firm operates on a level playing field when it comes to career development and opportunities. Regardless of one's background, the only determining factor for success at MBB is one's performance within the firm. The company values hard work, dedication, and results above all else, which is why your alma mater will not have any impact on your salary, career trajectory, or the type of work you are assigned.
This emphasis on the performance of graduates from IIMs and JBIMS over external factors is a unique aspect of MBB and demonstrates the company's commitment to providing equal opportunities for all its employees. The company recognizes and rewards those who have the skills, drive, and determination to excel in their roles, regardless of where they come from.
In conclusion, it is essential to understand that your alma mater, whether it is IIM or JBIMS, holds no weight in determining your salary in MBB. The focus is solely on individual performance, and the company is committed to providing equal opportunities for all its employees.
SUBSCRIBE TO OUR NEWS LETTER
