In this conversation with Dr. Joel Xavier, Head, the Centre for Teaching and Learning at IIM Udaipur, and an IIM Ahmedabad alumnus, we deep-dive into B-School Rankings. Read on to know more!
- What are some of the most focused B-school rankings?
International rankings like FT and QS focus on the quality of the MBA program and aspects like career prospects, value for money (ROI), internationalization, and DEI measures to assess the quality of the B-school. These are more directly aligned with the criteria that a prospective student or recruiter would use to evaluate a b-school. On the other hand, there are research focused rankings like the UT Dallas Top 100 Business School Research Rankings which rank business schools purely based on their research output. In a way, the key differentiator of international rankings are that they are very clearly focused on the audience that they are targeting and based on that, they evaluate those criteria that matter to their audience the most.
- What are the criteria for B-schools in global Rankings like FT, QS, UT Dallas, etc.? How important are these rankings for B-schools?
Some of the unique and important criteria that international surveys focus on are
- Career prospects – but unlike some Indian surveys, they focus on long-term earning potential calculated basis some algorithm rather than the raw salary numbers.
- Value for money – The desirability of the program is assessed in terms of career growth after attending the program vis-à-vis the investment made in the course
- Internationalization – there are many good metrics used to assess the international diversity and international exposure offered to students by a particular program.
- Sustainability and social responsibility- Though these questions do not directly impact rankings, the surveys do engage with institutes to understand their social impact and commitment to ESG goals.
We live in a boundaryless world where students can choose equally between doing their graduate management studies in India or abroad. Two of the biggest stakeholders - Students and recruiters, are highly discerning and have their own way of reading and interpreting all the rankings that they come across. In such a scenario, it is only a matter of time before any b-school which has global aspirations understands and acknowledges the role of such rankings.
A notable difference in the methodology of international rankings like FT and QS is that they do not have research output of the business school as a criterion. There are other, more focused rankings like the UTD top 100 list that focus exclusively on research and are globally well-respected.
- How has IIM Udaipur managed their position in the FT Rankings for all these years?
IIM Udaipur’s approach is to use the rankings surveys as an opportunity to do a self-assessment of our approach to management education and make corresponding efforts to incorporate global best practices in the programs offered at IIM Udaipur. IIM Udaipur’s focus on Research and providing students a transformational learning experience are borne out of an understanding that these are important aspects of a globally competent management education. This approach ensures that IIM Udaipur focuses on and enhances those aspects of the programs that help it build on these core objectives. This focus ensures that our outcomes improve in a way that is reflected in these global rankings.
- What is your vision for IIM Udaipur for the next 10 years?
IIM Udaipur’s vision next 10 years is captured succinctly in its Vision 2030 as articulated by the Board. The key thrust areas are excellence in Research and delivering a transformational student learning experience. IIMU will continue to build these on the foundation of the Institute’s distinctive culture. With all-round efforts in these areas, IIM Udaipur aspires to feature among the top 10 B-schools in India the top 100 at the global level by 2030.
- Is there any special focus of IIM Udaipur towards rankings?
Every ranking that IIM Udaipur is a part of is an opportunity to do a self-assessment of our approach to management education and make corresponding efforts to incorporate global best practices in the programs offered at IIM Udaipur. With this approach, there is a constant self-evaluation and discussion about how where the institute is headed and how we can make the major and minor adjustments that are needed to be continuously improving. The rankings also give us an opportunity to identify key trends in advance and come up with innovations at the right time that set us apart. Both one-year MBA programs offered by IIM Udaipur – one focused on Supply Chain Management, and the other on Digital Enterprise Management, are pioneering programs in their respective domains which have got a fantastic response from the Industry.