IIMs, which are commonly known as the Indian Institutes of Management, is declared by the Ministry of Human Resource Development (MHRD) as Institutions of National Importance. The institutes offer undergraduate, postgraduate, executive MBA courses, and PhD courses in management education. According to the National Institution Ranking Framework, the IIMs which achieved top 10 rankings are IIM – Ahmedabad, Calcutta, and Bangalore. All Indian Institutes of Management offer full-time management courses. Through this article, aspirants will know about the new-age IIMs to fulfil their MBA dreams.
The 10 new-age IIMs to fulfil MBA dreams
Many new-age IIMs are also not far behind, and they offer good placements and quality MBA courses. Scroll down to check the list of 10 such institutes offering various management courses.
1. IIM Shillong:
IIM Shillong was established in the year 2007. It has been ranked among the best 30 MBA institutes in India by MHRD NIRF 2020. It is a second-generation IIM. The institute offers many courses for postgraduate, and doctoral students. The college offers Management Development Programmes (MDPs), Executive Programs in management education. Among all the courses, the full-time MBA course is one of the most popular courses there. The admission to the institute is made based on scores obtained in the Common Admission Test (CAT) followed by Group Discussion, and Personal Interview.
2. IIM Ranchi:
This college was established in the year 2009. The institute has been ranked 28th position in the NIRF MHRD. The college offers a two-years Master of Business Administration, PhD, Executive program, Fellowship, and Management Development Programme, part-time certification. The institute also offers a PGP diploma in Human resources. Admission to the IIM Ranchi PGP course is made on the scores obtained in CAT.
3. IIM Raipur:
IIM Raipur is a business school that was established by the Government of India in 2010. It has been ranked 19th position in the NIRF 2020 ranking. The institute offers full-time and part-time courses which include Executive Education Program, Post-Graduate Program in Management, Fellow Programme in Management, etc. The institute has international collaboration with thirteen international universities- Chile, Australia, Germany, France, Mexico, Russia, Thailand, New-Zealand, etc.
4. IIM Kashipur:
Under the mentorship of IIM Lucknow, IIM Kashipur was established. It was established in the year 2011. It has been ranked 33rd position in NIRF 2020 ranking. It is one of the few institutes that offer an MBA Analytics Programme. The institute also offers a two-year Executive Fellowship Programme in Management, Post-Graduate Programme in Management, Fellowship Programme in Management, and short-term Management Development Programmes (MDP) for corporate executives.
5. IIM Udaipur:
Indian Institute of Management – Udaipur came into existence in the year 2011. It is the fourth IIM to receive AACSB accreditation. The institute has been ranked 17th position in the MHRD NIRF 2020 ranking. According to FT ranking 2019, the college has been ranked the 76th best B-school in the world. The institute offers two years management course, One year Post- Graduate Programs (MBA-GSCM and MBA-DEM), Ph.D courses, etc.
6. IIM Nagpur:
It was the first among the six-new generation Indian Institute of Management. Admission to the Post Graduate Programme (PGP) is based on the scores obtained in Common Admission Test (CAT), Work experience, past academic performance.
7. IIM Amritsar:
IIM Amritsar was established in 2015 by the Ministry of Human Resource Development. It is one of the reputed Institute of National Importance. The institute offers MBA, MBA BA, MBA HR, PhD, Executive MBA.
8. IIM Visakhapatnam:
IIM Visakhapatnam is one of the twenty Indian Institutes of Management which was established in the year 2015. It is a public business school and Institute of National Importance. The institute offers Executive Education, Doctoral and Post- Graduate Programme.
9. IIM Bodh Gaya:
Indian Institute of Management (Bodh Gaya) is the 16th Indian Institute of Management. It was established in the year 2015 under the mentorship of Indian Institute of Management – Calcutta, the institute was established. The institute offers two- years full-time Postgraduate Programme in Management (PGPM). Admission to the Post-graduate Programme in Management (PGPM) is based on the Common Admission Test (CAT). From 2020, the college will introduce the Doctor of Business Administration (DBA) program.
10. IIM Jammu:
IIM Jammu was established in the year 2016. It is one of the public autonomous business schools which is located in Jammu and Kashmir. It is the newest of all the IIMs. Currently, the institute offers only an MBA, PhD, Executive Education Programme, and Faculty Development courses. Through exchange programs, the institute offers international exposure to its students.
Eligibility required to study MBA at the IIMs
The general eligibility criteria is to pass an undergraduate or bachelor’s degree or equivalent with a minimum of 50% marks. After that, one has to qualify CAT or GMAT to study Master of Business Administration at the Indian Institutes of Management. The final select will depend upon the performance in GD and PI. To study PhD, one must have a full-time MBA degree. For executive courses, one must have 5 years of work experience as well.
Placement of IIMs
Overall if we see the placement of IIMs, there is a 100 percent placement record. Their MBA placements are divided into three main divisions – Summer Placement / Internship, Lateral Placement, and Final Placement. Every year, there is a remarkable increase in the highest salary compared to the previous year.
The top recruiters are Deloitte, Tata Group, Goldman Sachs, Wipro, Google, ICICI Bank, Accenture, HSBC, Google, Microsoft, Hindustan Group, Apple, JP Morgan, Standard Chartered Bank, etc.
The highest salary package offered by IIM Calcutta in 2019 was 72 lakh per Annum which includes international packages and the average salary package offered was 24.40 lakh per annum. Besides placement, they also provide excellent opportunities to its students by offering internships. So, these are some of the new IIMs offering quality management courses.