The Fortune 500 Companies is an annual list of the top 500 companies, collated and published by the Fortune magazine since 1955. It is a matter of great pride for an organization to feature in this list.
While the names of the publicly and privately held companies in the original list consist of global & Indian brands, Fortune magazine also releases a list of the top 500 Indian companies annually.
Here, I have compiled a list of the top 100 from Fortune's List of 2017, along with the names of their business heads as well as their professional qualifications.
This report will attempt to gauge the general trends followed around the qualifications and the alma mater of these men and women.
By the end of this report, we will be able to answer the following questions:
- Which B-Schools/graduate colleges produce the maximum number of C-suite Executives in the top-100 companies of India.
- How many business leaders haven't actually pursued a post-graduation and/or graduation course?
- What percentage of Executives prefer to do their MBA from abroad than from Indian management institutes?
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Do you need to be a post-graduate to reach the top?
As illustrated below, 37% of business leaders do not have an MBA or any other form of post-graduation degree. Out of this, Mr Rajesh Mehta of Rajesh Exports has not even pursued an undergraduate degree and is worth $2.6 Billion as of 2017, making him the 61st richest man in the world. Mr Mukesh Ambani, the world's 18th richest man, is only a graduate. 33 Business leaders in this list do not possess a post-graduation degree.
Therefore, out of every 5 business leaders, 2 do not have an MBA or a post-graduation qualification. Therefore it is clear that an MBA/post-graduation is not necessary to rise to the top.
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How many business leaders have done their MBAs locally?
Out of the list of business leaders of the top 100 Indian companies, 21 out of 89 CEOs have done an MBA locally and the same number of professionals have pursued their management degrees from foreign institutes. The latter consists of institutes such as the Wharton School of Management, Harvard Business School, Cornell University, London Business School etc. The most preferred programme pursued abroad, apart from an MBA, is the Advanced Management Programme at the Harvard Business School.
It must be noted that 17 of the 89* business leaders in this list have pursued post-graduation degrees other than an MBA.
*(The data for 11 CEOs was not available)
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Which Indian B-Schools have maximum representation across the top 100 Indian companies?
Unsurprisingly, the holy trinity of IIMs makes up over 50% of the 10 Indian B-Schools' alumni. JBIMS is at 3rd place in terms of representation, thereby upholding its reputation as the CEO factory of India. Up there with the top-10 B-Schools are management institutes such as TAPMI, SIBM Pune, and IMI New Delhi.
Apart from B-Schools, it must also be noted that 9% of these business leaders are also members of the Insitute of Chartered Accountants of India. 2 of the 100 individuals are also lateral entries from the Indian Administrative Services.
Most of these business leaders hail from some of the most prestigious undergraduate institutes in India and abroad such as IITs, NITs, BITS, St. Stephen's, SRCC, etc. The IITs lead the pack, the alumni of which account for 14 of the 91* business leaders featuring in this list, followed by NITs (6) and BITS (5).
*(The data for 9 CEOs was not available)
Here is the list of CEOs of the top-100 companies in India, according to Fortune magazine's list for the year 2017:
(Wherever all three columns contain "NA", it implies that the company is without a CEO due to arrests and criminal investigation against CEOs, sudden resignation, or re-structuring of management)
| Company | Name of CEO/Chairman/MD | MBA/Post-Graduation | Graduation College |
| Indian Oil Corporation | Sanjiv Singh | NA | IIT Roorkee |
| Reliance Industries | Mukesh Ambani | Stanford (Discontinued) | UDCT |
| State Bank of India | Arijit Basu | JBIMS Mumbai | IIT Delhi |
| Tata Motors | Guenter Butschek | NA | Baden-Württemberg Cooperative State University |
| Rajesh Exports | Rajesh Mehta | NA | NA |
| Bharat Petroleum | D. Rajkumar | IIM Bangalore | IIT Madras |
| Hindustan Petroleum | Mukesh Kumar Surana | Data Unavailable | Data Unavailable |
| Oil & Natural Gas Corporation | Shashi Shanker | IGNOU | ISM Dhanbad |
| Coal India | Sutirtha Bhattacharya | Indian Administrative Services | Presidency College, Kolkata |
| Tata Consultancy Services | Rajesh Gopinathan | IIM Ahmedabad | NIT Trichy |
| Tata Steel | T.V. Narendran | IIM Calcutta | NIT Trichy |
| ICICI Bank | Chanda Kochhar | JBIMS Mumbai | Jai Hind College, ICAI |
| Larsen & Toubro | S.N. Subrahmanyan | SIBM Pune | Kurukshetra University |
| Hindalco Industries | Satish Pai | NA | IIT Madras |
| Bharti Airtel | Gopal Vittal | IIM Calcutta | Madras Christian College |
| HDFC Bank | Aditya Puri | ICAI | Panjab University |
| Mahindra & Mahindra | Anand Mahindra | Harvard Business School | Lawrence School, Lovedale |
| NTPC | Gurdeep Singh | IIM Ahmedabad | Data Unavailable |
| Vedanta | Kuldip Kumar Kaura | London Business School | BITS, Pilani |
| Infosys | Salil Parekh | Cornell University | IIT Bombay |
| Maruti Suzuki India | Kenichi Ayukawa | NA | Osaka University |
| Essar Oil | Lalit Kumar Gupta | NA | Jiwaji University, Gwalior |
| HDFC | Keki Mistry | ICAI | Mumbai University |
| Wipro | Abidali Neemuchwala | IIT Bombay | NIT Raipur |
| Axis Bank | Shikha Sharma | IIM Ahmedabad | LSR |
| JSW Steel | Sajjan Jindal | NA | MS Ramaiah Institute of Technology |
| Punjab National Bank | Sunil Mehta | Wharton School of Management | CAIIB |
| Bank of Baroda | P.S. Jayakumar | XLRI Jamshedpur | Madras University |
| GAIL (India) | B.C. Tripathi | NA | MNNIT Allahabad |
| Canara Bank | Rakesh Sharma | IGNOU | Chaudhary Charan Singh University |
| HCL Technologies | C Vijaykumar | NA | PSG College of Technology |
| Bank of India | Dinabandhu Mohapatra | Data Unavailable | Data Unavailable |
| MRPL | M. Venkatesh | NA | MIT, Manipal |
| Steel Authority of India | P.K. Singh | NA | IIT Roorkee |
| ITC Limited | Sanjiv Puri | Wharton School of Management | IIT Kanpur |
| Vodafone India | Sunil Sood | IIM Calcutta, Harvard Business School | IIT Delhi |
| Motherson Sumi Systems | Vivek Chaand Sehgal | NA | Delhi University |
| Union Bank of India | Rakiran Rai Gundaydka | NA | University of Agricultural Sciences |
| Grasim Industries | Dilip Gaur | Harvard Business School | Data Unavailable |
| Idea Cellular | Himanshu Kapania | IIM Bangalore | BITS, Mesra |
| Kotak Mahindra Bank | Uday Suresh Kotak | JBIMS Mumbai | Sydenham College |
| Hindustan Unilever | Sanjiv Mehta | Harvard Business School | Data Unavailable |
| Sun Pharmaceuticals | Dilip Shanghvi | NA | Bhawanipur Education Society, University of Calcutta |
| IDBI Bank | Balasubramanyam Sriram | AIMA,St. Stephen's College | Data Unavailable |
| General Insurance Corporation of India | Alice G. Vaidyan | Harvard Business School | Kerala University |
| Tech Mahindra | C.P. Gurnani | NA | NIT, Rourkela |
| Reliance Infrastructure | Lalit Jalan | Wharton School of Management | IIT Kanpur |
| Hero MotoCorp | Pawan Munjal | NA | NIT Kurukshetra |
| Bharat Heavy Electricals | Atul Sobti | IMI New Delhi, IIM Ahmedabad | Data Unavailable |
| Tata Power Company | Praveer Sinha | NLSI, IIT Delhi | IIT Delhi |
| Chennai Petroleum Corporation Limited | S.N. Pandey | Data Unavailable | Data Unavailable |
| Central Bank of India | Rajeev Rishi | NA | Panjab University |
| Power Finance Corporation | Rajeev Sharma | FMS Delhi | IIT Roorkee |
| Power Grid Corporation of India | I.S. Jha | NA | NIT Jamshedpur |
| Syndicate Bank | Melwyn Oswald Rego | SIBM Pune | Data Unavailable |
| UltraTech Cement | KK Maheshwari | ICAI | University of Mumbai |
| Petronet LNG | Prabhat Singh | NA | IIT Kanpur |
| Rural Electrification Corp. | Dr. P.V. Ramesh | Indian Administrative Services | Christian Medical College & Hospital |
| Jet Airways (India) | Vinay Dube | University of North Carolina | Knox College, IIinois |
| Bajaj Finserv | Sanjiv Bajaj | Harvard Business School | University of Pune |
| Ashok Leyland | Vinod Kumar Dasari | J.L. Kellogg School of Management | University of Louisville |
| Reliance Communications | Gurdeep Singh | NA | BITS, Pilani |
| Bajaj Auto | Rajiv Bajaj | University of Warwick, UK | College of Engineering, Pune |
| Adani Enterprises | Vinay Prakash | NA | Institute of Engineering & Technology |
| Indian Overseas Bank | R. Subramania Kumar | Data Unavailable | Data Unavailable |
| IFFCO | U.S. Awasthi | University of Agricultural Sciences | IIT(BHU) |
| Corporation Bank | Jai Kumar Garg | Data Unavailable | Data Unavailable |
| NABARD | Harsh Kumar Bhanwala | IIM Ahmedabad | Data Unavailable |
| New India Assurance Co. Ltd. | Gopalan Srinivasan | NA | University of Madras |
| Jindal Steel & Power | N.A. Ansari | Wharton School of Management, INSEAD | Aligarh Muslim University |
| Andhra Bank | NA | NA | NA |
| Oriental Bank of Commerce | Mukesh Kumar Jain | Delhi School of Economics | Data Unavailable |
| Ambuja Cements | Ajay A. Kapur | The Wharton School | St. Xavier's, Mumbai |
| Yes Bank | Rana Kapoor | Rutgers University | SRCC, Delhi University |
| Allahabad Bank | Data Unavailable | Data Unavailable | Data Unavailable |
| Tata Communications | Vinod Anand Kumar | NA | BITS, Pilani |
| Interglobe Aviation (IndiGo) | Rahul Bhatia | NA | University of Waterloo |
| IndusInd Bank | Romesh Sobti | Data Unavailable | Data Unavailable |
| UCO Bank | Ravi Krishan Takkar | NIBM Pune | SRCC, Delhi University |
| Future Retail | Kishore Biyani | NA | HR College, Mumbai |
| Asian Paints | K.B.S. Anand | IIM Calcutta | IIT Bombay |
| Indian Bank | Kishor Kharat | Data Unavailable | Data Unavailable |
| Lupin | Vinita D. Gupta | Kellogg School of Management | University of Mumbai |
| Reliance Capital | Jai Anmol Ambani | NA | Warwick Business School, UK |
| UPL | Jaidev Shroff | NA | Mumbai University |
| Gitanjali Gems | NA | NA | NA |
| PTC India | Ashok Haldia | Data Unavailable | Data Unavailable |
| Aurobindo Pharma | N. Govindarajan | IIT Bombay | Annamalai University |
| Max Financial Services | Mohit Talwar | Oberoi School | St. Stephen's College |
| Cipla | Umang Vohra | TAPMI, Manipal | MSRIT, Bangalore |
| Dr Reddy’s Laboratories | G.V. Prasad | Purdue University | Alagappa College of Technology |
| CESC | Aniruddha Basu | NA | Aniruddha Basu |
| Bhushan Steel | Neeraj Singal | NA | Panjab University |
| EID Parry (India) | S. Suresh | Data Unavailable | Data Unavailable |
| Siemens | Sunil Mathur | NA | ICAI |
| Citibank | Pramit Jhaveri | Simon Business School, Rochester | Sydenham College |
| LIC Housing Finance | Vinay Sah | Lucknow University | Data Unavailable |
| Vijaya Bank | R.A. Sankara Narayanan | Data Unavailable | Data Unavailable |
| MRF | Rahul Mammen | University of Michigan Business School | St. Stephen's College |
| Jaiprakash Associates | Manoj Gaur | NA | BITS, Pilani |
The limitation of this report are:
- The complete educational qualification and data for 20 business leaders was not available via secondary research. This reduces the sample-set from:
- 100 companies to 89 companies in the column titled "MBA/Post-graduation", since data for 11 business leaders was not available.
- 100 companies to 91 companies in the column titled "Graduation Institute", since data for 9 business leaders was not available.
- The undergraduate stream cannot be ascertained accurately with the data available online, so the extent of the influence of a person's graduation stream cannot be determined.
I will also be making a list of the top start-up CEOs of the country and their educational qualifications.
If you have any suggestions to improve this report, let me know in the comments below.
Chat
Comments
Amandeep .
Student at Indian Institute Of Management, Kashipur
ISB Hyderabad at 12th ? IIM Kashipur below 3rd Gen IIMs ? The whole process of ranking the top B-Schools seems flawed.
5 Apr 2019, 09.37 AM
+Read Replies (3)
Team InsideIIM
We are the team behind your favourite platform.
It's possible that your own ranking does not match our survey. All we can say is that this represents the brand equity created by these schools among Aspirants who have taken CAT in 2018 or will take in 2019.
5 Apr 2019, 11.46 AM |
Amandeep .
Student at Indian Institute Of Management, Kashipur
Talking about your "TOP MBA COLLEGES" survey, most of the private colleges provide PG Diploma Courses , not MBA. So, Choose your words and questionnaire carefully.
5 Apr 2019, 02.11 PM |
Nikhil George
Nikhil is an MBA (IB) candidate at IIFT Delhi. He interned with Axis Bank and secured a PPO. He is an avid reader and quizzer. You can follow him on his blog, www.inducedcatalysis.in
For all purposes within India, PGDM is considered equivalent to an MBA. Many of the old IIMs now give out MBA degrees
13 Apr 2019, 07.24 PM |
Bibek Pradhan
Also, XIMB fees last year was 22lacs. Have seen their letter personally.
5 Apr 2019, 11.32 AM
+Read Replies (1)
Team InsideIIM
We are the team behind your favourite platform.
We will check this and rectify if necessary. We are using information available on the website.
5 Apr 2019, 11.46 AM |
Gaurav Shukla
Is TISS Mumbai a private institute or a government run institute.?
5 Apr 2019, 11.36 AM
+Read Replies (1)
Mayur Anupchand Soni
Hhh
TISS is Deemed University or a government run institute.
6 Apr 2019, 09.13 AM |
Pradhumn Shukla
No GIM ( Goa Institute of Management ) ??? Is it that bad.
5 Apr 2019, 11.41 AM
+Read Replies (2)
Team InsideIIM
We are the team behind your favourite platform.
Unfortunately, GIM was not part of the survey. We cannot comment on its rank since we did not have it as a question in the survey. We may incorporate it next year.
5 Apr 2019, 11.47 AM |
Dhanraj Suryavanshi
Hi Pradhumn, I did my PGDM from GIM 2017-19. I personally feel it's one of the best tier 2 BSchool in India. InsideIIM has not added GIam in their survey
5 Apr 2019, 12.46 PM |
Sameer Gupta
IRMA is also not there?
5 Apr 2019, 12.11 PM
+Read Replies (1)
Team InsideIIM
We are the team behind your favourite platform.
Hi Sameer, You are right. We didn't add IRMA in the survey questionnaire. We may incorporate it next year.
5 Apr 2019, 12.28 PM |
Darsh Doshi
Is this fees for 2019-21 batch? NMIMS fees has increased to 20L
5 Apr 2019, 01.22 PM
Akshay Uttam
be positive...........always
How can NITIE and SJSOM below SIBM Pune ??
5 Apr 2019, 01.54 PM
+Read Replies (6)
Ashwin Likhar
Because their survey methodology is like, 'Salman has the biggest fan base that's why he is the best actor'.
5 Apr 2019, 03.47 PM |
Team InsideIIM
We are the team behind your favourite platform.
Hi Akshay, These are Brand perceptions. Do also remember that both NITIE and SJMSoM offer roles which are very domain focussed. Schools like TISS, MICA, NITIE often suffer in many perception rankings because of their branding around specific domains. It makes them less appealing to the overall pool of Aspirants.
5 Apr 2019, 03.55 PM |
piyush kr
Even then it is far better then these colleges, People in NITIE leave IIMs like K,L,I to join. You can't but it below SIBM
6 Apr 2019, 09.44 AM |
Prabhakar Gund
Sibm is private...has big fat pr cell with big budget....is duniya me sab bik Chuka hai.
6 Apr 2019, 01.18 PM |
subhajit roy
The rankings are very much true except for 2 colleges i think.One is sibm pune and 2nd is vgsom.Sibm should be a bit down the list and vgsom should be a bit up the list.
7 May 2019, 01.08 PM |
Ankit Mirajkar
Ankit Mirajkar is 24, young blogger, geek and fitness freak with strong passion. He is currently pursuing his MBA from Vinod Gupta School of Management, IIT Kharagpur (2019-21) and has 2.5 years of work experience in TCS as a Functional consultant. He loves public speaking and is an active member of Toastmasters International Club.
Haha.. rightly said
16 Jun 2019, 10.22 AM |
Ashwin Likhar
How were you able to rank a category of B-school ( 3rd gen IIM ) with individual Institutes /universities ?
5 Apr 2019, 03.41 PM
+Read Replies (1)
Team InsideIIM
We are the team behind your favourite platform.
3rd Gen IIMs are too new and are yet to create an individual identity. There is very little data available yet about each of them individually for aspirants to have different perceptions about each. Maybe in a couple of years we will ask them to be rated individually.
5 Apr 2019, 03.53 PM |
Shriram Padale
Shriram completed his Master’s in Business Administration (M.B.A.) with specialization in Finance and Strategy from Indian Institute of Management (I.I.M.) which is recognized as the best B-school of the country with Institute of National Importance status. He is presently working as Associate Partner in Founder's Strategy Team, MarketsandMarkets™ and his tasks are focused on strategic organizational initiatives, management consulting, business administration, project management, performance management, brand management etc. MarketsandMarkets™ is the world's largest revenue impact company, presently serving over 8000 organizations which include 80% of Fortune 2000 organizations. He is directly working with CEO & other CXOs of organization for tasks involving various global teams of organization.
Never expected this kind of analysis from INSIDEIIM. Totally disagree... You shouldn't include all third generation IIMs in one bracket
5 Apr 2019, 08.11 PM
Moin Shaikh
How is SIS college?
5 Apr 2019, 09.20 PM
Moin Shaikh
How is SIMS college?
5 Apr 2019, 09.20 PM
Prash Mal
This kind of Survey is biased. We can easily see the consensus from other guys passing out from top institutes here : 1. ISB is RANK #3 and comparable to IIM A on international platforms 2. Boconi and Athena have paid you ? Since there are top Colleges like SDMIMD Mysore, GIM Goa, BIMTECH which are excluded from your survey !!!! 3. Mind you , you are playing with lives of millions of students and presenting wrong data to companies. This is as good as illegal.
7 Apr 2019, 02.43 PM
+Read Replies (2)
Team InsideIIM
We are the team behind your favourite platform.
Hi! 1. These are Brand perceptions of MBA aspirants on InsideIIM.com 2. Bocconi and Athena are/were partner schools with InsideIIM.com and hence were added in the list. We will add more schools going forward in the survey. 3. The data presented in this survey is completely based on brand perception of each b-school which is very clearly mentioned in the article. Hope this helps you get a better idea of the rankings.
9 Apr 2019, 08.20 PM |
Vineet Chandra
You lost your credibility when you said Bimtech is a top college. Far from top. It comes under Tier 3 college accepting 85%ile score.
14 Nov 2019, 12.51 AM |
Anurag Bharti
How can you not consider DU MBA colleges like DFS, DBE, DSE or SRCC GBO???
7 Apr 2019, 04.03 PM
+Read Replies (1)
Team InsideIIM
We are the team behind your favourite platform.
We may consider adding these colleges in the survey in the coming years.
9 Apr 2019, 08.20 PM |
Mannpreet Kaur
Senior System Engineer at Infosys
How about Great Lakes PGPM course?
8 Apr 2019, 12.04 PM
Sejin Jacob John
Freelance
Can you do the rankings for fpm programmes as well?
8 Apr 2019, 02.56 PM
+Read Replies (1)
Team InsideIIM
We are the team behind your favourite platform.
We will try and incorporate rankings for FPM programs at a later date separately.
9 Apr 2019, 08.21 PM |
Raghav Khanna
Hi team, Just a minor correction - While the website is common for IIFT Delhi & Kolkata campus, which makes sense since all the courses are common for both the campuses. However, the Kolkata & Delhi campuses have a few events that are exclusive to each other. To effectively cover all these events, the Media Committee maintains a separate Facebook page for the Kolkata campus - IIFT Kolkata Reflections - https://www.facebook.com/IIFTReflections/ All events happening under the name of brand IIFT are covered on either the official Facebook page or the IIFT Kolkata Reflections page.
12 Apr 2019, 12.09 PM
Gaurav Kumar
Hello team Insideiim thnx for this list but can u provide another list of these 50 in which u provide fees and average salary of these b-schools only according to their rank in a single list like this one...plzzz...
14 Apr 2019, 09.50 AM
Veer Jain
The author is a mechanical engineer, currently pursuing his PGDM at SVKM's Narsee Monjee Institute of Management Studies, Bangalore.
What about NMIMS Bangalore?
15 Apr 2019, 01.33 AM
Rahul Gupta
ISB 12, MDI 13 & NITIE 18.... awesome job with the survey guys
24 Apr 2019, 03.41 PM
+Read Replies (1)
Rohit Suri
Haha.. true.. an awesome job.. these guys are coming up with this long lost methodology again. No way isb below iim i/k/l?? Mdi below iim i/k/iift ? Really? It seems its been paid by bocconi/athena.. time to junk this portal for good.
24 Apr 2019, 09.24 PM |
Joseph Gonsalo
What about XIME Bangalore
8 May 2019, 10.40 AM
adarsh iyer
I am passionate towards getting things done as per my ways and I like things done with my attitude and perception. I am willing to do MBA so that i can get immense flexibility in getting the things done in a niche and great way.
I am planning to do executive full time MBA. Can you please let me know about the colleges and it's details?.
12 Jun 2019, 07.43 AM