When it comes to management education, the MDI brand has become one of the strongest in the country, with MDI Gurgaon being mentioned in the same breath as some of the top IIMs. Just over half a decade ago, this brand expanded beyond Gurgaon, with MDI Murshidabad admitting its first ever PGPM batch. So in terms of placements, what does this institute have to offer? How does this institute compare with MDI Gurgaon, and other institutes in its league? What kind of ROI does MDI-M offer to students? This analysis will attempt to answer these questions and more.
Special note - This is a non-partisan and fact-based review of placements and ROI offered by MDI Murshidabad. Information regarding fees and salaries offered has been gathered directly from the institute's official website. No other criteria such as infrastructure, faculty to student ratio, student exchange opportunities etc. have been considered for this analysis.
Since its commencement in 1994, MDI Gurgaon's PGPM program has come to be known as one of the best management programs in the country. Twenty years later, the first ever PGPM program at MDI Murshidabad commenced. How has MDI-M performed so far in terms of placements offered on-campus? Let's dive in.
Placements At MDI Murshidabad - Important Salary Trends
While choosing a business school, candidates are majorly influenced by the salaries they can expect to draw post-MBA. Management education is not cheap, and it is also important for candidates to keep in mind the ROI of an institute. The graph below encapsulates important salary trends at MDI Murshidabad for the first five batches that have graduated so far.
Average CTC may not always be a reliable indicator of the type of salary you can expect post-graduation. Median CTC is a more reliable figure to understand the true picture. Unfortunately, MDI Murshidabad has not been consistent in providing median CTC data in their placement reports though these figures can be found in the placement reports for the 4th, and 2nd PGPM batches.
Also to be noted is that the lowest CTC offered to Class of 2018 at MDI Murshidabad stood at Rs. 6 lakhs.
What Kind of ROI Does MDI Murshidabad Offer?
Return on Investment is one of the most important factors to consider while choosing a business schools - after paying lakhs in fees, can an institute provide you with placements that, on average, can help you recover the cost of investment in an MBA? ROI is calculated by taking the ratio of the net profit/loss to the cost of investment. The table below encapsulates the ROI offered by MDI Murshidabad to the first five batches to have enrolled for the PGPM program.
When it comes to the fee for a 2-year residential management program, MDI-M emerges as a relatively less expensive business school, charging the prospective Class of 2022 Rs. 11.50 lakhs for two years. Given the relatively low program fee, how does it perform in terms of ROI?
Across all five years the ROI has been negative, i.e., the cost of investment has been greater than the returns which in this case is the average CTC offered. However, besides a dip significant drop in ROI for the Class of 2019 (due to a spike in fee), the ROI of MDI Murshidabad's PGPM program has been increasing and may become positive in the near future, possibly for the graduating Class of 2021.
What Kind of Companies Come To Recruit At MDI Murshidabad, And What Roles Do They Offer?
As per MDI Murshidabad's final placement report for the class of 2020, the institute has seen participation from PwC, Deloitte, TCS, HDFC Bank, ICICI Bank, Aditya Birla Capital, Byju's, Salesforce, OYO Room, and Anarock amongst others. As per the report, the institute has "achieved a threefold increase in the number of recruiters, commensurate with the increase in the batch size of PGPM 2018-20".
For Sales and Marketing, profiles were offered in Product Management, Brand Management, Business Development, Market Research, Marketing Strategy, B2B sales, Relationship Management and Retail Management.
For Finance, profiles were offered in Quant Analysis, Tax Consultancy, Portfolio Management, Wealth Management, Credit Risk Management, Debt management, Solution Management, Accounts Management and Trade & Security Management.
For Operations, profiles were offered in Project Management, Supply Chain Operations, Product Costing and Pricing Analysis, Business Continuity Planning (BCP) Operations and Technical Product Management, Central Operations – Internal Quality, Central Operations – Cross Sales and Central Operations – Product.
For HR, profiles were offered in HR and Data Analytics, HR Business Partner, HR Operations, Talent Acquisition and Campus Recruitment.
How Do Placements And Fees At MDI Murshidabad Compare With Other B-Schools?
The following table encapsulates a comparison of the average and highest salaries offered at MDI-M with other business schools that are compared by aspirants on various forums, including IMI Kolkata, SIBM Bengaluru, IMT Hyderabad and IMT Nagpur. Other business schools such as SDABAC, IFMR GSB, SIIB Pune, etc. are frequently compared with MDI-M but have not been included due to unavailability of placements data for the Class of 2020.
Please note that the salary data for IMT Hyderabad, IMT Nagpur and SIBM-B are from the interim placement report for the Class of 2020 and not the final report, with majority of students placed. Additionally, the figure for IMI Kolkata is the average salary of the top-50% of offers, since the average salary figure was not provided by the institute.
How Do Placements At MDI Murshidabad Compare With Placements At MDI Gurgaon?
Given that these two business schools fall under the same brand name, some candidates may assume that the placements offered by both institutes would be very similar in terms of salaries offered. But is that really the case? Is pursuing an MBA from either of the two institutes going to result in similar campus placements? The answer is an emphatic no, as can be seen from the graph below.
At MDI Murshidabad, the highest CTC for the 113-strong PGPM Class of 2020 was lesser than the median CTC for the entire batch at MDI Gurgaon. In fact, ever since the commencement of PGPM program at MDI-M, the salaries offered to MDI-G students have always been significantly higher. Therefore, if as a future MDI-M student you're hopeful of earning salaries similar to those offered to MDI-G students, you're mistaken.
Trends for the third generation 'baby' IIMs that commenced their MBA programs a year after MDI Murshidabad are not too dissimilar to trends that can be observed in this analysis. Salaries offered and recruiters added at even the prestigious but newly established IIMs are no match for those at the top-6 IIMs in the country, or even IIMs established in 2010/2011. Therefore, for candidates to expect salaries to be similar just because of strong brand equity is erroneous.
Given the information above, it can be concluded that when it comes to program fee and return on investment, MDI Murshidabad does relatively well compared to other business schools in the same league. However, it still provides a negative (but improving) ROI. Based on placement and ROI figures, MDI Murshidabad should definitely be in your priority list if you've been unable to score well enough for admissions to institutes with a better offering.
As an MBA aspirant, if you're keen on joining the institute based on the assumption that placements at MDI-M will be similar to that of MDI Gurgaon just because they share the same brand name, then you're mistaken. At the moment, MDI-M is significantly behind MDI-G in terms of average and median CTC offered, even though the former has seen its biggest ever jump in the average salary offered by recruiters.
Placements and salaries are important but not the only criterion to be considered while choosing a business school. It is recommended that you conduct your own research beyond this analysis to find out your fit for the two-year PGPM program at MDI-M and how it can contribute to your career.
In case of any discrepancy in the figures provided above, please mention the correct figures along with the source in the comments below!