The B-schools were ranked based on both the objective data and the satisfaction scores given by key stakeholders like industry, students and the faculties. The survey was open to B-schools across the country and, for the first time ever, all the six IIMs participated in it. Apart from providing a questionnaire online (www.indiabschools.com), invitations were sent to 769 B-schools. In all, 226 of them responded. The validation exercise was carried out by a special team which cross-checked the data by asking for necessary documents like appointment letters, balance-sheets, annual reports etc. Field visits were also conducted to check the veracity of information. And 65 B-schools had to be dropped from the survey for fudging data.
The objective scores were obtained by evaluating B-schools against the following six broad parameters: Placement performance; Intellectual capital; Infrastructure and facilities; Industry interface; International Linkages; and Extra-curricular activities.
These were divided into sub-parameters as shown in the table. The marks were allotted in a particular category by normalising against the topper in that category. For example, if marks for maximum salary are 55 and the highest in this category is Rs 15 lakh, then marks allotted to an institute where the maximum salary offered was Rs 3 lakh would be 3/15 x 55 = 11. B-schools whose flagship course is oriented to specialised subjects were listed under "Niche B-schools" and were evaluated separately against the same parameters.
The satisfaction survey among 679 recruiters was conducted online. They were asked to rate the graduates of the B-schools they were familiar with against six parameters including effectiveness in application of knowledge of subject, analytical skills and ability to work in a team. A poll was also conducted among 59 top executives to find out what they value most in an MBA graduate and how they evaluated the top three B-school graduates on these parameters.
The satisfaction survey for students and faculties was open to all B-schools and 6,100 students and 2,269 faculty members participated in it. The aggregate score of the year-long exercise was taken to asses each institute. The students and faculties were also asked to do their own ranking of B-schools in India and also in their state. These and other findings are available at www.indiabschools.com.
The project team consisted of Premchand Palety, N.K. Sinha, Shaaista Bhat, B. Bhattacharya, Naveen Bhatt, Tanmay Kumar Pradhan and Ajay Kumar.
