SPJIMR obviously needs no introduction and is constantly ranked among the top 5 in India. The European Business Schools are equally competent. According to the latest Financial Times Ranking (http://rankings.ft.com/businessschoolrankings/masters-in-management-2014) on Masters in Management EBS, IESEG and Nyenrode are ranked 14, 21 and 66 respectively while ESB is constantly touted as the numero uno in the B-school rankings published by the industry in Germany and the only reason why it does not feature in the global ranking is because being a public university in Germany it has to teach a part of its curriculum in its native language. Just to put things in perspective, IIM C and IIM A are respectively placed 13th and 16th in the same ranking (It is important to consider the FT MIM rankings and not MBA as the MIM is equivalent to the PGDM in India and the MBA rankings are for courses which are equivalent to the 1 year PGPM in India i.e. having a prerequisite of a substantial work experience).
PGCIM is actually a gateway to an international degree. The final MBA degree which you receive is from one of the B-schools in Europe. The degrees awarded by the four European B-schools are accredited by International agencies like AACSB, EFMD EQUIS, AMBA, FIBAA, which are considered to be the global standard in business education.
So, you get a certification from one of India’s premier B-school followed by a truly International degree from a globally recognized university in Europe. Not to mention, you naturally become an integral part of the global alumni network of both the institutes.
Curriculum & Faculty
The curriculum at SPJIMR is rigorous as all the General Management courses which are done in the first year of PGDM are covered in a shorter time frame and thus you have to be on your toes for the entire period to keep up with the pace. You get to choose your electives in the second half of the program in Europe. The four different B-schools respectively have a wide array of electives to offer from which you are eligible to choose according to your area of interest (details are available at http://www.spjimr.org/pgcim/pgcim-overview.aspx). Regular foreign language (Deutsch, French and Dutch) classes are also held in the campus and the students are required to acquire a certain level of certifications/competency in the respective languages before they land in Europe. The curriculum has been devised in consultation with the best minds from the five B-Schools keeping in mind the objective of making competent global managers who can hit the ball running from the very first day of their corporate careers irrespective of the continent they are placed in.
It is often said in the business cycles in India that while IIMs have the brand, SP Jain has the faculty. Imagine having the opportunity of learning the intricacies of macroeconomic policies from a man who has handled the balance of payment of India in RBI or getting to learn global business strategies from a man who was the Chief Economic Advisor of the TATA group while they were having their first global expansions and many more. Such is the collection of gems (read professors) at SP Jain who not only make you well versed with the various concepts but also make you understand the practical implications of those concepts from their wealth of experience. Then, there are visiting professors from the four B-schools in Europe who bring with them a whole new perspective and experience which helps immensely to expand the horizon of the thought processes and learning.
Return on Investment
Management education should be looked at as an investment you make to propel your career to greater heights in the future. The cost of a PGDM/MBA degree from any of the standard B-schools in India will be around 15-20 lakhs while a MBA degree from the top European universities will charge a premium of around 35-40 lakhs INR, if not more. Now, Europe being a matured market the concept of campus placements really does not exist there (No, not even in the likes of London Business School or HEC. It simply does not exist). The process is you apply for internships on the various platforms available online and also via your college’s careers’ division or alumni portal, you do an internship with the companies and then you land a job. So, this concept of the whole batch being placed even before the course is over is truly a desi concept and something which is completely alien to business schools in USA or Europe. Like, even a Harvard will be elated if it comes to know that 85-90% of its batch is placed 3 months after the course has reached its culmination. Thus, patience is the key. You will surely land a job as the track record of the previous four batches tells us but not before or immediately after the completion of the course (obviously, exceptions are there). Now, with the right expectations set let’s get down to numbers. The average compensation received by students in the four B-schools participating in the PGCIM program hovers around 50,000 euros (38 lakhs INR) without much fluctuation. Let me try and put these numbers in perspective. The average compensation received by students from the most reputed B-schools in Europe like London Business School or HEC, Paris would be around 65,000 to 70,000 euros (around 53 lakhs INR), but the cost of enrolling in such programs will also be in the excess of 40 lakhs INR. While, the cost of the complete PGCIM program including your living and travelling expenses would be around 16 lakhs INR if you are going to any of the universities in Germany and France and around 20 lakhs INR if you have enrolled for Nyenrode, Netherlands as it also includes study tours to three different continents. The Return on Investment (ROI) is therefore obviously better even in comparison to the absolute premier league of universities in Europe and definitely much better in comparison to any of the standard management programs in India.
Thus, you get an International degree with the most credible accreditations from a globally reputed B-school in Europe at the cost of a management program in India. In the words of Vito Corleone it is truly “An offer you cannot refuse”.
Article by:
Utsav R. Datta
PGCIM Batch of 2014-2015
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