Business schools and India
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Introduction
An aspiration for management degree
The Times of India, Dec 21 2016
`Indians see MBA as ticket to jobs abroad'
Manash Gohain About 29% of Indians aspiring for a management degree are actually aspiring for global assignments, another 26% of the aspirants are seeking respect out of graduate management education (GME). Nearly one fifth of the aspirants are looking for skill upgrades, and in comparison to 13% of global aspirants, just 1% of Indians are looking at a B-school degree as a career revitaliser. And a significant 8% of Indian aspirants see an MBA degree as their ticket to an improved socio-economic strata.
A first ever candidate segmentation survey by Graduate Management Admission Council (GMAC) decodes why someone pursues or aspires to be an MBA. Shared exclusively with TOI, the study was conducted across 15 countries including the US, UK, Russia, China and India among others.Unlike previous GMAC studies, where majority of the respondents are from GMAT (the admission test for top global Bschools) and Graduate Record Examinations (GRE) schemes, this time out of the total only 43% of the respondents have taken or are planning to take either of the tests.
The motivation factor for Indian aspirants for a GME are very similar to that of the US aspirants, while reasons for pursuing an MBA degree for a Chinese aspirant is significantly different with nearly half of the Chinese respondents looking at the degree as a career revitaliser. For Indian aspirants, as the study revealed, bulk of the candidates are “global strivers“ and “respect seekers“. Skill upgradation and innovation are also in the priority zones, serving as motivation for 19% and 12% of aspirants respectively .
“For a long period of time B-schools around the world looked at students in terms of demographics gender, age, nationalities, but didn't get to the core motivation behind why people want to study graduate management education.After all being a man or a woman doesn't drive them. What drives them is a particular type of aspiration. So we thought the time was right as the market has overall matured as to really look at the global candidate market place from segmentation point of view,“ said Sangeet Chowfla, president and CEO, GMAC.
The respondents were interviewed in local languages “in order to remove the bias that comes out of language,“ said Chowfla.
Curriculum revision
2018 trends
Kanchan Gogate, March 16, 2018: The Times of India
Broadening its ambit to unconventional streams, business studies in India are now well augmented with emerging career avenues as PSUs also look forward to tap the best of B-school talent
Bracing up to the challenges thrown up by the cuttingedge competition, management institutes in India have been revising their curricula adopting skillbased approaches. As placement continues to be one of the foremost criterions for management aspirants, it is not just the corporate sector but also the public sector units (PSUs) that are looking forward to hire the best of B-school talent. Of course, the latter also offer salaries on par with private sector.
According to experts, PSU hiring in B-schools reflects a positive sentiment. They say that it highlights the fact that the line between public and private sector is gradually getting blurred and work environment in PSUs is getting equally competitive vis-àvis targets, work culture and pay packages.
New-age operations, consulting, digital management and business analytics have become crucial portfolios for B-school recruiters. Of course, hiring in B-schools is not confined to corporates, privates, PSUs or consultancies. Product management, strategy management, digital analytics and content strategy are some key roles B-school graduates are hired for. Besides, sectors like renewable energy, rural management, e- commerce and even agro product companies require the B-school talent.
Though IIT and IIM graduates are the biggest winners, recruiters are also hiring from other varsity management departments and private Bschools. ASSOCHAM survey says only 20 percent students from B schools bag reasonable job offers. Experts agree that challenge for B school is honing skills with pragmatic attitude.
Dr (Capt) C M Chitale, chair professor, Shantanurao Kirloskar Chair, SPPU, says, "Working in a global competitive environment, Indian managers need to change mindset. On Time Delivery (OTD) and First Time Right (FTR) are the buzzwords for attaining success. Achievement Orientation shall help survive better in global environment."
Dr Sachin Vernekar, dean, Faculty of Management Studies, Bharati Vidyapeeth and director, IMED, says, "MBA programme is equipped with the required domain knowledge and skills (soft and hard) to serve different types of organisations. Thus it is fits into sectors like e-commerce, Fintech, energy and career as an entrepreneurship. With the Make in India and Start Up India supported by venture capitalists and angel investors/ crowd funding, many students are opting for Entrepreneurship as a career."
Prof R S S Mani, vice president, Institutional Development, ITM Group of Institutions, says, "As conservation and bio-diversity is the need of the hour, we are seeing the demand for Energy management on the rise .The current digital marketing era we live in warrants a huge need for MBA with ecommerce and also business analytics and AI specialisations. PSU hiring and entrepreneurship is a positive trend."
Employment prospects
2017: only 20% of business school graduates got jobs
December 11, 2017: The Times of India
HIGHLIGHTS
Assocham has said only 20% of business school graduates are landing with jobs
It said the jobs are drying on account of factors like demonetisation, lacklustre business sentiment and stalling of new projects
Salary packages offered at B-schools and engineering colleges are also being curtailed by 40-45% compared to last year
Business schools are struggling hard for placements with only 20 per cent students landing job offers, making this placement year the most challenging in recent times, according to Assocham.
The chamber observed that job opportunities for business school (B-school) students are drying on account of factors like demonetisation, lacklustre business sentiment and stalling of new projects.
"Grim placement scenario is reflected in B-school campus hiring this year which has gone down severely than last year which was 30 per cent. The salary packages which are offered at B-schools and engineering colleges are also being curtailed by 40-45 per cent as compared to last year," Assocham said.
The Assocham Education Council (AEC) said many parents and students are re-thinking on investing three-four years and several lakhs in a course. More than 400 institutions have become defunct as they are not getting enough students to be viable, said the chamber.
As per its findings, a large number of B-schools and engineering colleges are not able to attract students. More than 250 B-schools have already closed down since 2015 in major cities including Delhi-NCR, Mumbai, Bangalore, Ahmedabad, Kolkata, Lucknow, Dehradun etc. Another 99 are struggling for their survival, reveals the report.
The biggest reason for the gap is the rapid mushrooming of tier-2 and tier-3 management educational institutes that have unfortunately not been matched by the uplift in the quality of management education, said the chamber. The root cause of the problem is that institutes only focus on filling up seats and do not consider the quality of students at the time of intake, it said.
Assocham has suggested to improve the infrastructure, train their faculty, work on industry linkages, and spend money on research and knowledge creation and making students employable rather than employed.
Gender ratio of students
2019
Hemali Chappia, December 9, 2020: The Times of India
India B-school gender ratio poor: Study
‘Despite More Women Joining, They Make Just 19% Of Enrollees’
Mumbai:
India added more women students to its business schools in the last two years, but it was nowhere near enough to escape the tag of worst gender ratio in management classrooms, said a study. Data collected from 223 business schools around the world showed management colleges in India have the highest proportion of men. “India had the most unequal cohorts for gender — only 19% of both applicants and enrollees in 2019 were female,” said the AMBA Application and Enrolment Report 2020.
China topped the charts as the only region to report an equal proportion of men and women in their management programmes. “China (including Hong Kong) is the world’s most gender-balanced region. Oceania was next with 45% of enrollees being female,” the research added.
The largest increase in enrolment, by four percentage points, was in the China region, while a rise of three percentage points was seen in Oceania and India each from 2018.
“The findings show the representation of women in MBA applications and cohorts continues to rise, following on from similar progress in recent years,” said David Woods-Hale, director of marketing and communications at AMBA.
In fact, the proportion of women applying for AMBA (Association of MBAs)-accredited programmes rose by two percentage points between 2018 and 2019, and that of enrolment by one percentage point. Globally, 40% of those applying and 38% of those enrolling into MBA programmes in 2019 were women. The report shows AMBA-accredited business schools outperformed the market in 2019 in terms of MBA recruitment with a robust growth of 7% in MBA applications between 2018 and 2019.
Indian leadership at B-schools abroad
2001-22
Ishani Duttagupta, March 9, 2022: The Times of India
When IIT Bombay alum Nitin Nohria stepped down as the dean of the Harvard Business School in 2020 after a decade, the man who stepped into his shoes was Srikant Datar, an alum of IIM Ahmedabad. Oxford University is all set to welcome IIT Delhi alum Soumitra Dutta as dean of the Saïd Business School in June this year. Nohria, Datar and Dutta are in a growing pool of Indian Americans in leadership roles at global business schools.
Consider some of the criss-crossing postings.
Dutta, founding dean of the Samuel Curtis Johnson Graduate School of Management at Cornell, was earlier on the faculty at INSEAD, another leading B-school with campuses in France and Singapore.
From management gurus to deans
First came the Indian management gurus who earned the respect of western academia. Foremost among them were CK Prahalad, professor of corporate strategy at the University of Michigan’s Stephen M Ross School of Business, and Jagdish N Sheth, a globally known scholar of consumer behaviour, relationship marketing and competitive strategy who is a professor at Emory University’s Goizueta Business School.
Prahalad, who passed away in 2010, changed the way the world viewed India’s and other emerging markets’ economic potential with his 2004 book, The Fortune at the Bottom of the Pyramid: Eradicating Poverty through Profits.
Jagdish Sheth’s book, The Rule of Three, co-authored with marketing professor Rajendra Sisodia of Babson College, has been the foundation for investment bankers and policy makers on industry consolidation. The legacy of the gurus made it easier for a later group of Indians to rise in American academia. Today, the Indian presence is felt not just at the top, but also down the long ladder of US B-schools. There is Srilata Zaheer at University of Minnesota’s Carlson School of Management, Paul Almeida at Georgetown University’s McDonough School of Business, Raghu Sundaram at New York University’s Leonard N Stern School of Business, Vallabh Sambamurthy at the Wisconsin School of Business, Anuj Mehrotra at George Washington University School of Business, and Jagmohan S Raju, who is vice-dean of the Wharton executive education programme.
Some of them have even created an informal WhatsApp group called ‘Desi business deans’ – made up of administrators and upcoming stars. The group helps in networking and sharing experiences not just on administrative issues but often also for collaborative research. During the pandemic, the members shared experiences of the hybrid model of in-person and remote classes. Crossing bridges with an Indian accent Not many Indians were invited to the top B-school tables even a couple of decades ago. Dipak C Jain, who is considered a door-opener for other Indians, told this writer, “Back then, I was not high-profile and spoke English with an Indian accent. But after the 9/11 attacks, I went all out to reach recruiters and support our students. We achieved 91% placements at Kellogg that year.” Notwithstanding the ‘Indian accent’, English language skills is an advantage Indian American professors have always enjoyed in the US and Europe. “When I arrived at Virginia Tech as a graduate student, I was solely focused on understanding the American accent,” George Washington University’s Anuj Mehrotra told this author. “Since then, I have had the fortune of working with some great colleagues who made it easier for someone who didn’t look like them or shared the same background.”
Anuj Mehrotra is dean of George Washington University School of Business. He received his bachelor’s degree in mechanical engineering from the Birla Institute of Technology and Science in India
Other gaps needed to be crossed too. For Mehrotra, shifting from research and teaching to administration involved honing very different skills. The challenge for many Indians has been about building bridges between business and other disciplines, such as engineering – the home discipline for many Indian students and faculty members.
Helping Indians rise in business academia is the growing power of Indian engineers in western boardrooms. From Google’s Sundar Pichai and Microsoft’s Satya Nadella to IBM’s Arvind Krishna and Adobe’s Shantanu Narayen, several top American technology companies are headed by Indian Americans CEOs.
Like some of the business leaders, first-generation Indian American professors are acknowledged to have brought in diversity and different perspectives, having grown up in India and, in most cases, educated in Indian institutions.
The westward rush in the 1970s
“Many of us have learnt to be flexible and do better than others even in difficult environments. That’s a big advantage for Indian academicians – not just in America but in Europe, Australia and Asia as well,” says Jain, who earned his bachelor’s degree in mathematics and statistics and his master’s in mathematical statistics from Gauhati University before going to the US for his PhD.
Dipak C Jain was was of the earliest Indian-origin professors to get a visible role in the American business education ecosystem as dean of the Kellogg School of Management at Northwestern University in 2001
“Many of us came to the US in the 1970s and ’80s from the IITs and IIMs at a time when opportunities to do PhDs were limited in India,” says Sri Zaheer of Minnesota's Carlson School, who moved to the US after an MBA from IIM-Ahmedabad.
Srilata Zaheer is dean and Elmer L Andersen chair in global corporate social responsibility at University of Minnesota, Carlson School of Management
Fewer Indians are seen in top positions across the pond in the UK, but things are changing here too. While Dutta is heading to Oxford Saïd, Jaideep Prabhu is there at the University of Cambridge’s Judge Business School. Prabhu says that Indian academic talent went to US B-schools in the 1970s and 80s because of better international rankings and research opportunities. Global curriculums and Indian students The globalisation of business education curriculum and the need for B-schools to attract top talent have deepened the traditional pool from which deans are selected. India-specific curriculum and research projects, too, have made an impact. An example is the HBS India Research Centre in Mumbai, which has supported case studies and research projects focused on South Asian business since 2006. The Lakshmi Mittal and Family South Asia Institute at Harvard University, founded in 2003 with support from UK-based steel magnate, supports interdisciplinary research to deepen the understanding of critical issues relevant to South Asia. The director of the institute since 2010, Tarun Khanna, is known for his research in entrepreneurship in emerging markets as a means of economic and social development.
Nitin Nohria was dean of Harvard Business School (2010-20). He has PhD in management from Sloan School of Management, MIT, and a B Tech in chemical engineering from IIT-Bombay Business schools around the world are also wooing Indian students like never before. “Over the last few years, the number of Indian students planning an MBA abroad has increased exponentially. A large majority choose to go to the US to pursue a two-year MBA course, mainly because of the job prospects after graduation. Students who are looking for a one-year MBA prefer the UK and other European countries,” explains Mumbai-based education consultant Karan Gupta. In 2020, 26,129 students from India took the graduate management admission test or GMAT. Of them, 39.2% sent scores to US B-schools and 9.2% sent scores to UK institutes. Since most business schools need GMAT scores for admission, these numbers provide an insight into Indian students planning to study abroad, specifically in the US and UK. G Anand Anandalingam, professor at Robert H Smith School of Business at the University of Maryland, dean of the school from 2007 to 2013
According to the ministry of external affairs, out of over 2,61,000 students who went abroad to study in 2020, nearly 30% joined an MBA or other business programmes.
This is despite the much higher costs of management education overseas. At most top US B-schools, the average cost of attending a two-year MBA is $195,000 (Rs 1.4 crore). In comparison, the Indian School of Business at Hyderabad, the most expensive B-school in India, offers a one-year MBA programme at around Rs 28 lakh. IIM Ahmedabad, often the top ranked one, charges around Rs 23 lakh for a two-year MBA programme.
Even though more Indian students are going to western B-schools, fewer are pursuing higher advanced degrees in management. That’s why it isn’t assured that the number of Indians in top jobs at the B-schools would keep increasing.
Carlson’s Zaheer says, “Interest in business PhD programmes from Indian students has waned. We still get some outstanding Indian students in our doctoral programmes, but fewer as a proportion. On the other hand, we have many more outstanding PhD students coming from countries like South Korea and China in recent years.” So, a couple of decades from now, another part of Asia might see a dawn of deans.
Indians in leadership roles at global business schools
Harvard Business School
Srikant M Datar is dean of Harvard Business School from January 1, 2021
Nitin Nohria, professor at HBS, was dean from 2010 to 2020
University of Chicago, Booth School of Business
Sunil Kumar, provost and senior VP for academic affairs, Johns Hopkins University, was dean of Booth from 2011 to 2016 Madhav Rajan joined Chicago Booth faculty on July 1, 2017, as dean
Cornell University, SC Johnson College of Business
Soumitra Dutta, professor of management at Cornell SC Johnson, was also the founding dean of the B-School. He has recently been appointed as the dean of the University of Oxford’s Saïd Business School
Northwestern University, Kellogg School of Management
Dipak C Jain, president (European) at China Europe International Business School in Shanghai, was dean of Kellogg School of Management from 2001 to 2009. Prior to being named as president (European) of CEIBS, he served from 2014 to 2017 as the director of Sasin Graduate Institute of Business Administration of Chulalongkorn University (Thailand). He also served from 2011 to 2013 as dean of INSEAD business school with campuses in France, Singapore and Abu Dhab
Emory University, Goizueta Business School
Jagdish N Sheth, Charles H Kellstadt Professor of Business, Goizueta Business School, Emory University
Johns Hopkins University, Carey Business School
Yash P Gupta was the first dean of the business school from 2008 to 2011, before quitting to take up a CEO job. He was dean of the Robert C Vackar College of Business and Entrepreneurship, University of Texas, Rio Grande Valley, between 2018 & 2019 and was also dean at University of Southern California Marshall School of Business and the University of Washington Business School
University of Pennsylvania, Wharton School of Business
Jagmohan S Raju serves as vice dean of the Wharton executive education programme
University of Minnesota, Carlson School of Management
Srilata Zaheer is dean and Elmer L Andersen chair in global corporate social responsibility. She joined Carlson three decades back as assistant professor after a PhD from Sloan School of Management at MIT
George Washington University School of Business
Anuj Mehrotra is dean of George Washington University School of Business
New York University, Leonard N. Stern School of Business
Rangarajan Sundaram is dean and the Edward I Altman professor of credit and debt markets at NYU’s Stern School of Business. He was appointed dean on January 1, 2018
Georgetown University, McDonough School of Business
Paul Almeida is dean and William R Berkley Chair
University of Wisconsin–Madison, Wisconsin School of Business Vallabh (Samba) Sambamurthy is the Albert O Nicholas dean of the Wisconsin School of Business having assumed the role on August 1, 2019
University of Maryland, Robert H Smith School of Business
G Anand Anandalingam, professor at Robert H Smith School of Business at the University of Maryland, dean of the school from 2007 to 2013. Before joining Smith in 2001, he was at the University of Pennsylvania for nearly 15 years where he was a professor in both the Penn Engineering School and the Wharton School of Business
Rutgers University, Camden School of Business
Jaishankar Ganesh, professor at Rutgers-Camden, was dean of the school from 2010 to 2019
Ishani Dattagupta is a freelance writer based in Kolkata
Schools-business, India and the world
2014: India no. 5 in the world
The Times of India Apr 08 2015
Manash Gohain
India among top 5 MBA destinations now: Study
Good news for Indian B-schools, as the country comes among the top five preferred study destinations worldwide, ahead of countries like Hong Kong, Germany , Singapore, Netherlands and Australia.Moreover, a new study revealed that during the decision making process for selection of B-school criteria, quality of faculty , job placement, programme type and fee structure matter more than the rankings for aspiring management graduates.
According to the study by Graduate Management Admission Council which conducts the GMAT for admission to 6,100 graduate business and management programs worldwide, rankings don't feature in top five consideration criteria for actually selecting a program and a study destination.
The number of B-school aspirants seeking to study outside their country of citizenship has increased from 40% in 2010 to 52% in 2014. India features among the top five destinations, while the leader's (the US), popularity decreased from 73% of prospective students in 2010 to 66% in 2014. Two-thirds 66%) of prospective students across the globe, however, still prefer the US, fol owed by the UK (6%), Canada (5%), France (3%), ndia (3%), Hong Kong (2%), Germany (2%), Singapore 2%), Netherlands (2%) and Australia (1%).
The four main reasons prospective students prefer o study outside their coun ry of residence include a desire for an international ca reer, the welcoming nature of the study destination, English-language development, and word-of-mouth recommendation.
Though the survey does show that published rankings have an influence in candidates' school consideration, it places rankings overall as the third most consulted information resource for prospective students after school websites and friends and family .
2018 (i.e. 2017): IIM-B PG course among top 25
December 6, 2017: The Times of India
The postgraduate programme in management (PGP) of Indian Institute of Management-Bangalore (IIM-B) figures among the top 25 courses in the global Quacquarelli Symonds (QS) Masters in Management Ranking for 2018.
Ranked 22nd on the list, IIM-B was first among all IIMs. IIM-Ahmedabad’s PGP in management was ranked 23rd, while IIM-Calcutta was ranked 46th for the same course.
Statistics, year-wise
2014: B-school survey
Sonali Acharjee
October 16, 2014
With 1.90 lakh students registering for CAT this year, plans for setting up six new IIMsand focused specialisations such as ruralMBA, sports MBA and even luxury MBA coming into the market, one might think that the future of management education is well on track. However, while four lakh graduates come out every year, only a fifth find suitable employment in the long run. "It's all very well to have plans for new institutes and courses, but are they of acceptable quality?" asks M.L. Singla, dean, Faculty of Management Studies (FMS), Delhi University.
It is this question of quality that the Business Today-MDRA Top B-schools Survey seeks to address. The ranking draws on extensive research to determine which schools are the best not just in terms of placements and academics but also for their impact on student life after graduation, their infrastructure, quality of faculty and admission process. This year a new sub-parameter, governance, was also added to this list.
For the twelfth year running, IIM Ahmedabad has topped the survey, while Mumbai's SP Jain Institute of Management and Research (SPJMIR) has secured a spot in the top five for the first time. But when it comes to individual parameters such as future orientation and learning, IIM-A falls behind SPJIMR and IIM-Calcutta. In value-for money ranking, FMS, Delhi tops the list with the Department of Financial Studies, Delhi University, and the Department of Business Management, University of Calcutta, emerging second and third respectively. The survey has good news about placements. While the average salary offered to students in the top 25 schools is pegged at a decent Rs 12.64 lakh per annum, many institutes also reported a marked increased in hiring last year. For the session that ended in March 2013, IIM-A witnessed a 25 per cent rise in international job offers and 10 per cent in domestic placements.
Interestingly, it is no longer the MBA tag that many aspirants are after. Instead it is the long-term return on investment that has come to matter the most. "I scored a 100 percentile in CAT and secured a seat at IIM-Calcutta. I am working with IBM but have dreams of setting up my own firm. An MBA won't fulfil one's dreams overnight but it's a stepping stone," says 23-year-old Ankit Garg, who topped CAT in 2009. Others such as Bindumalini Krishnan, an executive management graduate of Indian School of Business, Hyderabad, say an MBA makes more sense after one has worked for a few years. "It's a path to higher management," she says. Despite the many reasons given for pursuing an MBA, attractive placement packages, frequent corporate interactions and strong alumni links still make it the most coveted professional qualification
2013-15: the number of MBA institutes in India
147 B-schools shut shop during 2013-14
Ramya M The Times of India Feb 04 2015 Chennai
DISCONCERTING NEWS FROM EDUCATION SECTOR
`Scarcity Of Students The Main Cause'
Management programmes across the country may be losing some of their sheen. Latest figures released by the All India Council for Technical Education (AICTE) show that 147 standalone Bschools and MBA programmes offered by engineering institutions across the country closed down in the last academic year. The number of postgraduate diploma programmes in management institutes has also dropped from 606 to 600 in the same period.
Maharashtra where 24 MBA colleges shut down and TN with 23 account for the largest number of closures followed by Andhra Pradesh with 19. Among other states, only Bihar, Jharkhand and Kerala have shown growth by adding new institutions.They have each started one new institution in this period.
Educational consultant Moorthy Selvakumaran said most institutions closed down because of lack of patronage.The decline started a couple of years ago after a dip in number of registrations for CAT, scores of which determine admission to the premier Indian Institutes of Managements and other management programmes across the country .
T N Swaminathan, director, branding and alumni relations, Great Lakes Institute of Management, said the reason for the closures was surplus supply and a demand crunch.
