IIM Ranchi Vs IIM Raipur – A Comparative Analysis

IIM Ranchi and IIM Raipur are two of the newer Indian Institutes of Management, and both were established in 2010. In this IIM Ranchi vs IIM Raipur comparison article, I will attempt to highlight the differences and similarities between these two premier institutes of the country. Earlier, I have compared two relatively new IIMs – IIM Shillong vs IIM Rohtak.

Note – This article and a series of other comparison articles (mentioned at the end) are based entirely on secondary research. 

IIM Ranchi vs IIM Raipur

Rankings

As I have reiterated in previous B-School comparisons, rankings should not form the basis for judgement/comparison of B-Schools. Rankings differ from portal to portal, and in certain cases, there may be paid promotion of certain B-Schools that may present misleading rankings. However, it is a good point to begin comparing and analysing B-Schools.

2018

InsideIIM

MHRD-NIRF

Financial Express

IIM Ranchi

20th

12th

25th

IIM Raipur

26th

13th

22nd

Note – When we look at IIM Ranchi vs IIM Raipur, we discover that both the institutes are ranked similarly, with the biggest difference in positions for the InsideIIM Rankings. Clearly, even though the two were established in the same year, IIM Ranchi is perceived as a better institute. The NIRF rankings are based only on the Graduation Outcomes parameter of the report.

Placements & Fees

One of the most important factors for B-School selection is the Return on Investment (ROI), and it is crucial to identify if an exorbitant institute is offering mediocre placements (although placement figures may be inflated, especially for institutes which are not audited).

(Placement figures are for the Class of 2018)

Fees

Average CTC

Median CTC

Highest CTC (Domestic)

IIM Ranchi

15.10 Lakhs

16.07 LPA

14.75 LPA

30 LPA

IIM Raipur

12.31 Lakhs

12.45 LPA

12.15 LPA

22.05 LPA

Highlights of the placement:

IIM Ranchi

  • A total of 134 students participated in the placement process. A total of 89 companies participated in the recruitment process, out of which 52 were new companies.
  • The highest International CTC stood at Rs. 57 LPA.
  • Average CTC for:
    Top 25% – 19.75 LPA
    Top 50% – 17.63 LPA
  • 39% of the batch received offers in Sales and Marketing domain, followed by 17% in IT & Analytics domain. Sales and Marketing and Finance had the highest median CTC across all domains (15 LPA).
  • Companies that came for recruitment include JP Morgan Chase, Bosch, YES Bank, Accenture, TATA Steel, ICICI Bank, IBM etc.

IIM Raipur

  • Over 150 companies came for the placement process, out of which over 65 were new companies. 201 students participated in the placement process.
  • Average CTC for:
    Top 25% – 17.51 LPA
    Top 50% – 15.76 LPA
  • Sales and Marketing was the most preferred functional area as 32% of the batch received offers for Sales roles, followed by Analytics, General Management and Consulting (26%).
  • Companies that came for recruitment include Axis Bank, HDFC, ICICI, Kotak Mahindra, Deloitte, Reliance etc.

Note – In terms of ROI, both institutes offer a similar ROI and perform moderately well. IIM Ranchi is more expensive than IIM Raipur but compensates for it with better placement packages.

Another point to be observed is that these two institutes are growing at a rapid pace in terms of new recruiters and average CTC offered, and their placement figures are better than a lot of comparable private management institutes such as IMT, XIMB etc. Furthermore, Sales & Marketing appears to be the most preferred domain across both these institutes, although BFSI recruiters have a greater presence at IIM Raipur.

Cut-Offs (Subject to change in selection criteria for 2018-19)

2017

2016

2015

2014

IIM Ranchi

90

90

90

90

IIM Raipur

95

90

90

90

After the shortlist, the two B-Schools have the following weightage for final shortlist:

  • IIM Ranchi
CAT Score
30
WAT
10
PI
30
Academic Profile
15
Work Experience
5
Diversity
5
Gender Diversity
5
Total
100

It is clear that just getting 90+ in CAT is not enough to get entry into IIM Ranchi. 70% of the weightage is towards a candidate’s performance in the WAT-PI, and their profile accounts for 30% of the total score.

  • IIM Raipur
CAT Score
32
WAT
10
PI
20
Academic Profile
20
Work Experience
6
Diversity
6
Gender Diversity
6
Total
100

As was the case with Ranchi, the majority of the weightage at IIM Raipur goes to the personal interview and academic profile of the candidate (68%). CAT score has a marginally higher weightage as compared to IIM Ranchi, although it must be noted that IIM Raipur has a higher CAT cut-off percentile.

Batch Strength

An institute’s batch strength defines the competition for placements, alumni strength and networking opportunities; not to mention the learning opportunities due to diversity. A larger batch strength may be problematic during final placements but provides a great networking opportunity. In this report, the concerned B-Schools have a relatively smaller batch strength, therefore the faculty-student ratio would be better than institutes which have an intake of over 250 students.

(Figures are for the Class of 2018)

IIM Ranchi

134

IIM Raipur

201

Faculty-Student Ratio:

  • IIM Ranchi – 3:13
  • IIM Raipur – 2:15

Batch Profile (Class of 2018)

IIM Ranchi – 

  • 28% of the batch consisted of freshers, while 29% of the batch had 1-2 years of work experience.
  • The ratio of female candidates to male candidates was 2:3.

IIM Raipur –

  • Half of the batch consisted of freshers and those with less than 12 months of work experience.
  • The ratio of female candidates to male candidates was 1:2.
  • 74% of the batch consisted of Engineers, followed by 9% from Commerce and 9% from a Science background.

Foreign Exchange Opportunities

IIM Ranchi – IIM Ranchi is in partnership with 7 institutes abroad, some of which are Alberta School of Business – Canada, Purdue University – USA, Emlyon Business School – France etc.

Towards the end of the first year, students are invited to be a part of the student exchange programme at any of the partner institutes. A good CGPA (6.5+), Statement of Purpose and bank documents (and financial wherewithal) are required to be eligible for the student exchange programme. The host institute may also have eligibility prerequisites such as language proficiency, work experience etc. that the candidate must possess.

IIM Raipur – IIM Raipur is in partnership with 19 international institutes, some of which are HHL Graduate School of Management Leipzig, ALBA Graduate Business School Athens, IESEG School of Management Paris etc. In 2016, over 35% of the Class of 2017 represented IIM Raipur at international institutes/universities.

To be selected for the International Student Exchange (ISE), students must have a good academic track record (10th, 12th, Graduation, FY), involvement in extra-curricular activities, Statement of Purpose etc. The candidates who apply for the ISE are interviewed by a panel of faculty members before their names are nominated for the student exchange. Preference of destination depends upon aggregate scores.

Infrastructure

IIM Ranchi – Currently, IIM Ranchi is operating out of a temporary campus in Suchna Bhavan. The hostel is 12.5 kilometres (30-45 minutes) away from the campus, which can be highly inconvenient for students. However, the plot for a new campus has been acquired by IIM Ranchi, which is a 60-acre plot near the centre of the city. The institute is expected to shift to the new campus by 2020.

IIM Ranchi students do not miss having a permanent campus, as can be seen in this article.

The hostel rooms are single occupancy rooms and are considered to be spacious and of a good quality. Rooms are wifi enabled, and there is a nearby late-night canteen that students can access.

Students also have access to Khelgaon, a government sports complex where students can access sports facilities. This, however, appears to have restricted access. Khelgaon is 5 minutes away from the hostels, and 30 minutes away from the institute.

IIM Raipur – Much like IIM Ranchi, IIM Raipur is currently operating out of a temporary campus. However, like its counterpart IIM Rohtak, it is very likely to shift to its new partially complete campus in Naya Raipur, the construction for which will be under the supervision of Naya Raipur Development Authority (NRDA). The government of Chhattisgarh has granted the campus a 200-acre plot for multiple phases of the IIM Raipur campus.

Location

Ranchi – Temperatures at Ranchi are within a range of 8C (January) to 41C (May). Mode of transportation within the city can be the Metro which will be functional from 2019. IIM Ranchi is less than half an hour away from the Birsa Munda International Airport and is only 20 minutes away from the Ranchi Railway Station.

Ranchi is known as the city of waterfalls and has a hilly terrain. It is one of the fastest growing cities in the country and is a part of the Smart Cities Project.

Raipur – Raipur is known to be an education hub, housing premier institutes such as the IIM, NIT, AIIMS, and a proposed IIT. Being an education hub, the city attracts major recruiters to hire the best talent from these premier institutes. Being the capital, Raipur is also the commercial hub of Chhattisgarh.

Raipur is a warm city, and temperatures can go from 27C to 42C, with May and December being the warmest and coldest months. The Swami Vivekananda Airport is just 30 minutes away from the institute (a distance which will be reduced when the institute shifts to its permanent campus in Naya Raipur), while the Raipur Railway Junction is 40 minutes away. Within the city, modes of transportation are buses and autos. Raipur is a part of the Smart Cities Project.

Note – Both these cities are cheaper than most metros, and being the capital of their respective states (Jharkhand and Chhattisgarh), they are bound to grow at a rapid pace in terms of industrialisation. Therefore, one can expect more and more companies to set-up shop in these cities.
In terms of scenic beauty and climate, Ranchi has a clear advantage over Raipur.

Overall, it can be said that these two institutes are new but are catching up quickly. With an upward graph in terms of new recruiters and packages, it would make sense to join either of these institutes if you are not able to make it to the old IIMs. Although not cheap, these institutes provide a reasonably good ROI, perhaps even better than most private institutes under the same category. 

In case of any discrepancies in the figures I have provided in this report, please let me know in the comments below, along with the source for the correct information.

If you have any suggestions for b-school comparisons or have any tips on how I can improve these reports, let me know in the comments below.

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Also read:

  1. IIM Ahmedabad vs FMS vs IIM Bangalore vs IIM Calcutta
  2. SIBM Pune vs NMIMS Mumbai
  3. MDI Gurgaon vs JBIMS Mumbai
  4. SJMSOM vs NITIE Mumbai
  5. IIT Chennai vs IIT Roorkee
  6. FORE vs KJ Somaiya
  7. IMT Ghaziabad vs XIMB vs SCMHRD
  8. IMI Delhi vs Great Lakes Chennai

Chirag Shukla

Aspirant. Writer.

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