Aspiring business students in India have a plethora of options when it comes to pursuing a management education. Two of the most coveted institutions in the country are the Department of Management Studies (DoMS) at IIT Madras and the new Indian Institutes of Management (IIMs). The IIMs have long been the gold standard in management education, producing successful business leaders year after year. Meanwhile, DoMS IIT Madras, although a newer player in the game, has been gaining recognition for its quality management education. Let's delve into some important considerations to know How good is DoMS IIT Madras when compared to new IIMs f
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Aspiring business students in India have a plethora of options when it comes to pursuing a management education. Two of the most coveted institutions in the country are the Department of Management Studies (DoMS) at IIT Madras and the new Indian Institutes of Management (IIMs). The IIMs have long been the gold standard in management education, producing successful business leaders year after year. Meanwhile, DoMS IIT Madras, although a newer player in the game, has been gaining recognition for its quality management education. Let's delve into some important considerations to know How good is DoMS IIT Madras when compared to new IIMs for your ease.
1. Academia:
- Faculty:
DoMS IIT Madras boasts a team of seasoned professors hailing from diverse industrial and academic backgrounds. These eminent scholars have contributed to prestigious academic journals and presented their research at distinguished international conferences. Conversely, the new IIMs feature a blend of experienced and youthful faculty, all with a proven record of success in both teaching and research.
- Curriculum:
Both DoMS IIT Madras and the new IIMs champion a modern curriculum that is attuned to the latest trends in industry. However, DoMS IIT Madras offers a more extensive array of electives, enabling students to specialize in their field of interest.
- Pedagogy:
DoMS IIT Madras and the new IIMs incorporate an amalgam of traditional and contemporary pedagogical methods, including case-based learning, simulations, group projects, and internships. That said, DoMS IIT Madras places a greater emphasis on experiential learning, providing students with ample opportunities to apply theoretical knowledge in real-world scenarios.
2. Campus Life and Infrastructure:
- Campus life:
DoMS IIT Madras boasts of a student community that is characterized by its heterogeneity, with a plethora of students coming from different regions and cultural backgrounds across India. In contrast, new IIMs, being relatively nascent institutions, may have a more homogenized student population in terms of their cultural and regional diversity.
- Infrastructure:
DoMS IIT Madras is ensconced in a vast and lush campus that flaunts state-of-the-art amenities such as a commodious library, a majestic auditorium, advanced computer labs, and a sprawling sports complex. While, the new IIMs, being nascent institutions, feature state-of-the-art infrastructure facilities that are at par with global standards.
3. Placements:
- Average Salary:
DoMS IIT Madras showcases a commendable average placement package of approximately 12 LPA while on average, new IIMs typically have an average placement package ranging from INR 8-10 LPA.
- Top Recruiters:
DoMS IIT Madras invites an eclectic mix of recruiters hailing from a myriad of sectors, including finance, technology, and consulting. The new IIMs also entice a similar mix of distinguished recruiters. Some common top recruiters who visit both DoMS IIT Madras and new IIMs include:
#Deloitte
#Amazon
#KPMG
#Accenture
#McKinsey & Company
#Microsoft
#Tata Consultancy Services (TCS)
#Hindustan Unilever Limited (HUL)
- Placement Percentage:
DoMS IIT Madras boasts a laudable placement percentage of around 95%, which is on par with the new IIMs.
4. Fee Structure:
DoMS IIT Madras has a lower fee structure than new IIMs, making it a more affordable option for students.
5. Accreditation and Rankings:
- Accreditation:
DoMS IIT Madras boasts of the coveted accreditation from the Association to Advance Collegiate Schools of Business (AACSB), a globally renowned accrediting body for business schools. On the other hand, new IIMs are yet to be bestowed with this distinguished accreditation from AACSB.
- Rankings:
DoMS IIT Madras has made its mark as a top-tier management institute in India, owing to its consistent performance across various ranking assessments. In the latest NIRF 2021 rankings for management institutions in India, DoMS IIT Madras has garnered an impressive 15th rank in the country, thus cementing its position among the elite. As for the new IIMs, given their relatively recent establishment, their ranking in the league of top-notch management schools is yet to be firmly established.
It is noteworthy that both DoMS IIT Madras and new IIMs possess their unique strengths and weaknesses, and the ultimate decision lies in the individual's inclinations and career objectives. While DoMS IIT Madras boasts of its formidable heritage and entrenched prestige, the new IIMs have the benefit of being more streamlined and agile in their ability to adapt to the dynamic fluctuations of the market.
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It's difficult to make a direct comparison between the Department of Management Studies (DOMS) at the Indian Institute of Technology (IIT) Madras and the newer Indian Institutes of Management (IIMs) as they are both highly reputable institutions in their own right but have different areas of focus and expertise. DOMS at IIT Madras is a well-established institution with a history of over 40 years in management education. It offers a two-year full-time MBA programme and a Ph.D. programme in management. The institute has a strong focus on research and offers a wide range of specializations such as finance, marketing, operations, and human...more
