Today, we are going for a comparison article between two very famous management colleges of India. There are many students who struggle to decide which Institute is better. So, our focus would be to evaluate the colleges in terms of academic prospects, job opportunities and better possibilities of return on investment.
For this, we will be looking at a short evaluation of two, management based educational institutions. One is Institute for Financial Management &Research, (IFMR), Chennai and the other is T.A. Pai Management Institute, Manipal, Karnataka.
Institute for Financial Management & Research(IFMR), Chennai
The Institute for Financial Management & Research(IFMR) was established in 1970. Over the years, it has developed into a standard institution of higher learning, combining theory and practice in the area of Finance and Management.
What they strive for is, a mix of theory with exposure to global practices through evidence-based researchers, in the respective fields of study.
- Also, notable, is its recognition, at a national level, as a Scientific and Industrial Research Organization (SIRO) by the Department of Scientific and Industrial Research, Ministry of Science and Technology, Government of India.
- In 2015, IFMR was ranked 9th in Top B-Schools of Super Excellence by CSR-GHRDC B-School Survey. And in the following year, it was ranked 15th among Top Private Business Schools in India and 27th Rank by National Human Resource Development Network.
- Their programs focus on a career path in investment banking, portfolio and risk management, financial consulting and applied research.
Currently, IFMR offers full-time and part-time PGDM programs, a Ph.D. program as well as management development programs.
- The Post Graduate Diploma in Management at IFMR focuses on management education with a strong foundation in Finance. It includes seven disciplines of study; Finance, Marketing, IT & Operations, Human Resources, Financial Engineering, Banking Financial Services and Insurance (BFSI) and Data Sciences.
- Admissions to this program are based on the latest CAT / XAT / CMAT / GMAT & GRE scores.
- Apart from this, a candidate’s past academic performance is looked into as well as personal interviews, extracurricular activities, sports, NCC, performing arts, volunteering interests etc.
- On the whole, the entire program costs about Rs.12 lakhs (approx.).
- On course completion, an average package of Rs. 8 Lakhs p.a. is offered and their highest package till date, has been Rs. 14 Lakhs p.a.
- At IFMR, students are also grouped under a mentorship system during every placement season, for better guidance in their career paths and prospects.
Student life at IFMR often revolves around fests and seminars in a vibrant and diverse community on the campus. They also enjoy benefits of a trading floor, a well-stocked library and the opportunities to learn via live projects and ongoing research collaborations such as MIT, that makes it an altogether, a conducive learning environment!
T.A. Pai Management Institute
Next, is the T.A. Pai Management Institute (TAPMI), which is located in a picturesque town of Manipal, Karnataka. It was the establishment in 1980.
Recently it was ranked among the top 20 B-schools in India. It is also AICTE approved and AIU recognized. It also happens to be one of the few, B-schools in India, to be accredited by the Association to Advance Collegiate Schools of Business (AACSB).
In India, only five B-schools and 5% of top business schools worldwide, have earned this valuable accreditation.
Their programs focus on students to develop a career in the fields of banking and financial services and are based on experiential learning that allows students to use case-study approaches, in their study.
Currently, TAPMI offers management program at the postgraduate level, with specializations in Healthcare and Banking and Financial Services.
Courses Offered & Admission Criteria
The Post Graduate Diploma Management course at TAPMI is of two-year duration and costs about Rs. 14 Lakhs (approx.) in total. It offers the following disciplines of study; Marketing, Operations, Human Resource, Finance, IT and General Management.
And its admissions are usually based on the CAT/XAT/GMAT scores and other written analysis tests and personal interviews. Past academic performance in any graduation degree, work experience and participation in extracurricular activities of the candidates are also considered.
Next is their specialized course in Banking and Financial Services management course at the postgraduate level (PGDM- BKFS). And this course costs about Rs.15.00 Lakhs (approx.) in total.
Admissions to this course, is on basis of CAT/XAT/GMAT scores, past academic performance at graduation and school level as well as other written tests, group discussions, and interviews.
On course completion, an average salary package of Rs. 8.24 Lakh p.a. is offered. And their highest package till date is Rs. 18 Lakh p.a.
A well-equipped educational and residential set up at TAPMI, including prominent faculty, world-class finance lab for trading etc. Gives students a comfortable environment to learn and grow, in proper synchronization.
Which college is better in terms of Return on Investment?
Now, we move on to the most interesting part; making the educational choice that will help one in altering the course of their future. With regard to good financial management education programs, both the above-mentioned colleges provide it and do it, in their own terms and style.
- Looking at TAPMI, they boast of a separate Finance Lab, which is actually a trading lab, powered by Bloomberg India. This is to help in providing students with a platform for live experiences in investments, portfolio management, forecasting and therefore bridges the gap between theory and practice.
- Apart from this advantage, students also go through a Student Managed Investment Course (SMIC). Under this, every student is given Rs. 25,000 to invest in real markets. This is, again, to promote learning by practice and nurture a better understanding of the functioning of financial markets.
Now when we look at the academic prospects at IFMR, they have an intensive, two-month summer internship for the students.
- Apart from this internship, interactive guest lectures, practical consultancy projects with industries and their year-round management development programs through national and international collaboration, increases the worth of value of money spent at IFMR.
- Lastly, their most promising advantage is the new state-of-the-art campus, which is located in the heart of Sri City; a 5,000-acre Special Economic Zone (SEZ) and situated 55 km north of Chennai. In reality, this is a major hub for many large and medium scale industries and a popular business destination for multinational companies to establish operations in India.
- Some of the prominent MNCs in this cluster are Colgate, Kellog’s, Cadbury, Alstom-France and 38 other international companies. At the same time, this campus is also home to 24 Indian companies.
- So, in short, all this industrial activity in the neighborhood influences the learning process at IFMR. Especially the internship programs, industrial-based projects and the easy facilitation of experienced professionals as guest speakers on the campus.
After giving an overall picture, of both colleges, it is observed that a management based education at IFMR campus, has more edge and gives a more return on investment than compared to TAPMI. This is because of being situated at the heart of an SEZ, with an ample number of job opportunities, career prospects, a holistic learning methodology and approach and all this at a lesser cost than compared to TAPMI.
But, one must also look for that slightly higher advantage or possible reward. Ultimately, the industrial exposure at IFMR and its guaranteed job placements make all the difference.
Author Name: Anoushka Mudgil from Collegedunia.com