Common Admission Test (CAT) examination serves as the gateway to postgraduate and fellow/doctoral programs at the esteemed Indian Institutes of Management, venerated institutions responsible for shaping and nurturing adept leaders across various sectors of the nation’s economy. These distinguished institutions proffer courses primarily in the realm of postgraduate, doctoral, and executive studies.
Educational Offerings by IIMs The IIMs proffer an exhaustive two-year full-time Postgraduate Program in Management, a course tantamount to a Master of Business Administration (MBA) degree.
Notably, following the enactment of the Indian Institute of Management Act in 2017, IIMs are now vested with the authority to confer MBA degrees. In the past, their prerogative was to bestow a Postgraduate Diploma in Management (PGDM).
In addition to the conventional courses, the IIMs extend an executive MBA program tailored for seasoned professionals.
Furthermore, these institutions offer a comprehensive doctoral-level program, known as the Fellow Program in Management (FPM).
The Vanguard Specializations in Management Referring to the Financial Placement Report for the years 2021-23, accessible on the official portal of IIM Lucknow, it becomes evident that the lion’s share of employment opportunities was concentrated within the fields of Finance, Sales and Marketing, Consulting, Operations, IT, Product Management, and General Management.
A staggering 99 employment opportunities were presented in the realm of Finance at IIM Lucknow, with this domain yielding the highest CTC (Cost to Company) at ₹53 lakh for its graduates. The Consulting domain followed suit, offering 204 positions with the highest CTC at ₹45.3 lakh. The Sales and Marketing domain featured an attractive proposition, reaching a maximum CTC of ₹1 crore and making 73 job placements. The Operations field beckoned with a highest CTC of ₹45 lakh, accommodating 15 fortunate individuals. IT and Product Management extended 104 offers with a top CTC of ₹15 lakh. The General Management domain unveiled 61 openings with a maximum CTC of ₹65 lakh.
Quoting Himanshu Rai, the director of IIM Indore, the official website highlights the fact that in the final placements for the outgoing MBA batch of 2021-23, the Finance domain claimed 18% of the total employment opportunities, mirroring the enthusiastic participation from prominent recruiters in the Sales and Marketing domain, which also secured 18% of the jobs. Furthermore, 16% of the batch successfully clinched roles in IT, Analytics, and Product Management, while an additional 19% of the batch landed roles in General Management, HR, Leadership, and Operations.
While elucidating the dynamism of MBA specializations, Mahadeo Jaiswal, director of IIM Sambalpur, emphasized that the choice of specialization should be attuned to individual proclivities, acumen, and the dynamic job market landscape. Presently, the most coveted and sought-after specializations encompass Finance, Marketing, International Management, IT/Systems, Operations Management, Entrepreneurship, data analytics, product management, and healthcare management.
Emphasizing the overarching principle that management courses across all institutions confer a holistic general management degree, Safal Batra, Associate Professor of Strategic Management at IIM Kashipur, avers that an MBA from IIMs and other elite business schools represents a multi-disciplinary program. It necessitates students to traverse the academic expanse and engage with diverse disciplines, ultimately culminating in a general management degree. However, he observes that courses related to Marketing, Finance, and Strategy tend to hold sway, driven by the allure of Fast-Moving Consumer Goods (FMCG) positions, investment banking roles, and consultancy positions, which necessitate profound expertise in their respective domains.
In a further elucidation of the roles that each specialization entails, Mr. Jaiswal expounds on the myriad facets of Management disciplines. Finance caters to the preparation of individuals for roles in financial management and investment, while the Marketing branch is dedicated to the nuances of strategic promotion and comprehensive market analysis. The International Management discipline addresses the complex intricacies of global business operations. Meanwhile, those inclined toward organizational development and talent management may gravitate toward the Human Resources field. IT/Systems specialization equips students with competencies in technology management. The Operations Management branch specializes in streamlining supply chain processes and optimizing operational workflows. Finally, the Entrepreneurship branch empowers aspiring entrepreneurs to initiate and oversee their entrepreneurial ventures.