The non-IIM Top BSchools Alumni Report 2013 – Part Three – Consulting and Banking

In part three, we examine the glamour domains that attract the best in the country towards a MBA. On our helpline Eklavya, these are the most asked questions – “Is my profile fit for Front-end IB?”, “What can I do to ensure I get into Strategy Consulting and only in the ‘Big 4′ ?” ,”Please suggest best colleges in India to do Consulting (not IT Consulting)” etc. We have already seen this report for the 6 Old IIMs here

Last year’s report on Consulting for these schools below can be found here

Before we release the data, readers would do well to consider the following points in their own analysis:

1) The numbers below include the Executive PGP programme graduates and other global programmes offered by the schools mentioned below.

2) A lot of professionals within IT Consulting especially with less than 5 year work experience, do not clearly mention their domains on their linkedin profile. Our view is that the % of IT Consultants is more than what data suggests. We have consciously left out IT Consulting companies from the list. Despite that, almost 30% of the consultants in the list below claim to be operating in that space. Most of them are at Accenture, Deloitte and IBM. These companies have Strategy/Management consulting units too.

3) The numbers below includes all professionals who are alumni and even those with no dates in their profile.

  Some Observations :

1) JBIMS’ weakness at Management Consulting comes as a surprise. Almost 50% of the consultants above claim to be in the IT domain and except for Mckinsey & Co., there is no visibility of JBIMS alumni at the so-called top tier consulting firms. Noshir Kaka, a JBIMS alumnus is the India MD of Mckinsey & Co. Despite this, Mckinsey & Co. does not visit the JBIMS campus and asks JBIMS to compete with XLRI,IIMs I & K, FMS at the batch day.

2) SPJIMR’s impressive numbers at Mckinsey & Co. are due to Supply chain consultants from SPJIMR. The number is higher than IIMs I & K, FMS. There are very few management/strategy consultants in that figure of 14.

3) In about 12 years, ISB has positioned itself perfectly for consulting roles and is clearly in the top 4 campuses in country. It’s rise in this domain is astonishing given that old campuses like IIM L, XLRI, FMS, JBIMS have been left far behind. You may argue that ISB was set-up by an ex-Mckinsey head, but one still has to deliver. IIM I and IIM K were founded just before ISB was but have not had even half the impact in the consulting space that ISB has had.

4) Given XLRI’s legacy, the numbers are relatively disappointing for the top tier firms.

The figures for other business schools like MDI,NITIE,IIFT,SIBM,NMIMS etc. are not substantial enough to be noted. On expected lines, these are all weak campuses for Management/Strategy consulting. There have been some lateral movements. But exceptions do not make the rule. Some of the these schools also have alumni in Research Analyst positions.

The table below talks about alumni stats in the Global MNC banks. The numbers below are a decent indicators but not conclusive to make definite observations. We suggest you take the numbers below with a pinch of salt for the following reasons:

1) It includes numbers from various back office subsidiaries of these banks. On LinkedIn, companies are not listed separately even though they different entities. For e.g. Citi numbers include Citi Financial Services, Citi India and Citibank, Bank of America Merrill Lynch numbers include Bank of America Continuum, Morgan Stanley numbers include Morgan Stanley Advantage Services etc.

2) It includes a lot of people in IT, Support and operations and have little to do with hardcore banking. Most of these professionals classify themselves as bankers on linkedIn. Now you could ask how we know that. We painfully went through profiles trying to dissect and understand. It was futile to classify functions as we did above in Consulting.

1) FMS numbers at Citi/Citibank and XLRI numbers at Standard Chartered Bank are noteworthy. The Asia-Pacific CEO at Standard Chartered Bank is from XLRI and we believe they will keep recruiting at XLRI in big numbers.

2) JBIMS and SPJIMR both have impressive number of alumni in this field and in very good front office profiles.

3) ISB has not enjoyed the same success in Banking that it has enjoyed in Consulting.  However, the numbers are impressive when compared with likes of IIM I & K who were also founded around the same time.

Looking at some other schools in India not covered by us (yet), we see the following noteworthy figures for specific Banking. Of course, no filters were done for profiles or designation. The numbers below represent very few front office roles. Majority are in the middle office supporting the front offices in other countries. There are also plenty of alumni in IT, Support and Operations.

– MDI Gurgaon – 33 Alumni at Goldman Sachs – Greater than XLRI,IIM I,IIM K, FMS, SPJIMR, JBIMS – Mostly in Equity Research.

– NITIE Mumbai has 36 alumni at Citi/Citibank and MDI Gurgaon has sent 31 alumni at Citi/Citibank as per LinkedIn – Number higher than IIM  I & K.

– Symbiosis has over 70 alumni and Narsee Monjee have over a 170 Alumni at JP Morgan Chase. They also have over 50 alumni at Barclays. But these numbers include undergraduate students from these universities and alumni at entry level. A lot of these roles are never offered at the IIMs and other top schools. It is very difficult to analyze alumni numbers for SIBM and NMIMS MBA programmes in isolation.

This was the final part in this series.  We request you to use this data as an indicator and not indulge in hair splitting over exact numbers. Use this data to network with your alumni and create opportunities for your own career.

We will return next year with this series again in a bigger and better way.

You may also like to read :

The non-IIM Top Schools Alumni Report – Part 1 – Locations, Companies and Functions

The non-IIM Top Schools Alumni Report – Part 2 – Stats for FMCG and Technology,E-Commerce & Telecom

The 6 IIMs alumni report 2013 – Part 1 – Locations, Companies and Functions

The 6 IIMs alumni report 2013 – Part 2 – Stats for FMCG and Technology, E-Commerce and Telecom

The 6 IIMs alumni report 2013 – Part 3 – Banking & Consulting

The 6 IIMs alumni reports for 2012 – Part 1Part 2Part 3

The non-IIM Top Business School Alumni reports for 2012 – Part 1Part 2

Team InsideIIM

We are the team behind your favourite platform.




Just to add some more color to the report: Out of 3 FMS people in ATK: one is double MBA (bcoz of second MBA in Toronto, he is in ATK, so effictively FMS has no role). Second is in Procurement & Analytics Solutions team – a team linked to US office – work is only in procurement but good. Third one is in back-office (GSC – Global Support Center; similar to Knowledge Center of McKinsey).


Same case with xlri also .. Most seem to have another mba .. Insead seems to be the favorite

Seeking Info

Considering that several replies go unanswered here in insideiim, I would be really grateful if someone replies to me in detail……

Can all the experienced people here plz give me 1 info –>

What is the package offered by the following FMCGs in Marketing & Sales domain the top-14 B-Schools in India?? 😮
Marico, HUL, J & J, Dabur, Reckitt Benckiser, HCCB, PepsiCo, Red Bull, L'Oreal, Kellogg’s, Godrej & Boyce, Titan, Raymonds & Videocon. o.0

[For e.g- ITC offers 17 CTC, PnG- 17, Airtel- 16+, Colgate Palmolive- 20+ (very very inflated though :p ), GSK- 18, Amazon- 22. Similarly can u plz tell me about the CTC of these? ]

Someone who knows this, plz plz reply as it's urgent.