There is no shortage of good B-schools in India and around the world. However,
over 2 lakh people in India give the Common Admissions Test every year. Other
than that, multiple international students also apply for IIMs through their GMAT
scores. For all of these people, admission to a prestigious IIM is a dream. How
did IIMs get such a powerful reputation? Why are so many aspirants competing
so fiercely for the nearly 5000 seats?
Jawaharlal Nehru, the first Prime Minister of India, initiated the establishment of
IIMs based on recommendations by the Planning Commission of India. The
intention was to create elite management schools in India. The first IIM was
established in Calcutta in 1961 in collaboration with MIT Sloan, followed closely
by Ahmedabad, guided by Harvard Business School, also in 1961. In 1972, a
committee recommended establishing two more IIMs, given the success of IIM-C
and IIM-A. The establishment of IIM-Bangalore in 1973 marked the completion of
the ABCs of IIMs. These three universities are considered the top across the
nation and are the goal of any aspirant.
By 1981, the three IIMs had gained a powerful reputation and had paved the way
for the establishment of more elite B-schools in India. In 2017, the union cabinet
passed the Indian Institutes of Management Act and declared the IIMs as
institutes of national importance. This act was another turning point in the growth
of IIMs. It granted them more autonomy in handling their operations and in
making decisions regarding their courses and fees. It allowed them to improve
their performance and international standing among other B-schools.
IIMs are highly respected universities. National and International companies
often scout IIM graduates for high-paying positions. Studying in an IIM can
change a student's entire perspective.
Here is are xx reasons why IIMs stand out from other B-schools:
1. The level of education
IIMs have the power of autonomy to decide their syllabus and courses, which
ensures that they are never outdated. Their respect has attracted many brilliant
minds and convinced them to take up teaching roles. For a good reason, too.
IIMs put in a lot of effort to ensure that their faculty have the best resources
available to them. At least 25 faculty members from IIM-Indore visited Havard as
a part of the Participant Centered Learning Programme. Most importantly, IIMs
know that they select only the brightest of minds. They take full advantage of this
fact and have set a course that is as grueling as it is useful. Very few B-schools
in India can reach the standard of education set by IIMs.
2. The student body and networking
The IIM student body is diverse and unique. They are talented individuals from all
walks of life and levels of experience. IIMs provide a unique college experience
where students can learn valuable lessons from their batchmates itself. But the
IIM experience is not limited to the batches that currently attend the college. IIM
has created a strong alumni culture that benefits everyone involved. The alumni end up all around the world, in diverse fields, and generally rise in the ranks of
their organization relatively quickly. It provides a strong network of contacts that
can benefit both students and other alumni.
3. The university experience
IIMs are universities that challenge their students to the next level, but they also
provide a wholesome university experience. Most colleges are either focused
entirely on education or let loose a little too much. However, the students at IIM
are smart, sincere, and hardworking. They know how to finish their work on time
and how to relax afterward. Apart from that, the student body is wonderfully
diverse. They are the most well-rounded and developed out of all the candidates
that applied. They know how to balance and nurture multiple interests as well.
You are guaranteed to find your kind of people no matter which IIM you attend.
The bond you form with your friends at IIM will be unbreakable and last well
beyond your university days.
4. The glimpse into the future
IIMs are very proud of their reputation. The IIM coordination forum works
tirelessly to maintain this league of elite business schools in India. As a result,
each IIM aims to ensure that its students enter the corporate world with the best
preparation. The exposure a student gets at an IIM is unbeatable, thanks to their
reputation and abundance of resources. The knowledge that the students receive
spans well beyond the presentations, assignments, discussions, and classes. It
prepares you for your future in a way that regular MBA colleges can't. Even the courses take into consideration the diverse fields of management that you will
face in the future. It provides you with a glimpse of your future and equips you
with the tools you will need to succeed.
5. The compensation
With the vast amount of information available online and the high cost of higher
education, many students don't feel satisfied with their university life. However,
candidates aiming for IIMs can rest assured that if they make it to their dream
IIM, they will be well compensated. The previous points should have made it
clear that IIMs provide a level of education and exposure that other MBA colleges
can't. Apart from that, the fees of IIMs are comparable to those of good B-schools
in India. Despite this, IIMs have international recognition; the expenses are
generally much lower than good B-schools abroad. Since some of the best
national and international companies scout IIMs, you will earn the cost of your
MBA within a year or two.
There is a good reason why so many people dream of getting into an IIM. The
competition to get into an IIM can be fierce and disheartening, but it should be no
reason to let go of your IIM dreams. It is truly worth trying to achieve, even when
you fail the first time.
When you prepare for the CAT, remember to hold on fiercely to your IIM dreams.
They will motivate you to work hard. Remember to create a robust strategy and
to take care of your mental and physical health. Make a plan to combat your
anxieties about giving the exam. Ensure that you continue to grow and develop
as an individual so that you can ace your GD and interviews. Whenever you feel
demotivated, remember what drove you to aim so high in the first place. Always
believe that you can achieve what you set out to do.
Launch your Graphy