- What is IIM?
- Admission in IIM
- What IIMs offer
- List of IIMs
IIM (Indian Institute of Management) has become a tag for every successful MBA pass out. The quality of education offered by them is world-class. Some IIMs hold high ranks in the list of top MBA colleges in the world. Lakhs of candidates appear for CAT and go through a rigorous screening process to get admission in IIM. Let us decode what IIMs are in this article.
What is IIM?
IIMs are autonomous institutes of management, which offer diploma, doctoral, and executive programs in management. There are 20 IIMs in India, some old, some new and some babies. Jawaharlal Nehru initiated the establishment of the IIMs after the suggestion of the planning commission. After independence, our country faced a lack of planning and management in our executives; thus the planning commission contacted Professor George Robbins of UCLA. By his recommendation, IIM Ahmedabad and IIM Calcutta were established. IIM C was associated with MIT Sloan School of Business, while IIM A was associated with Harvard Business school. Since then, the number of IIMs has only increased.
IIMs were made institutes of national importance after the passage of the Indian Institutes of Management Act, 2017. This act gave IIMs freedom to make autonomous decisions regarding the courses, patterns, fee structure of the institute, etc.
Admission in IIM
CAT (Common Aptitude Test) is conducted by IIMs every year as the first stage of the selection process of a graduate. CAT is considered one of the most competitive exams in the world, with a meager acceptance rate (1 in 200). The candidates who clear CAT are called for a group discussion and personal interview. After examining the profile of the candidate, the selection committee bases its decision by considering all the elements.
Students can also apply with their GMAT scores, the score, and profile of the applicant is scrutinized, and then the selected candidates are called for Group discussions and GD/PI. The Group discussion is majorly focused on current affairs and whether the candidate can analyze the situation and form an opinion. The Personal Interview round focuses on the life of the candidate, their behavior, their academics, achievements, etc. To get selected in the IIMs, the applicant has to be an all-rounder.
Some new IIMs announced that they would change the GD round with a writing test to analyze the comprehensive skills of the candidates. IIM Ahmedabad takes WAT. The written ability test examines your writing ability, along with your clarity of thoughts and how you present them. The old IIMs have not announced or confirmed anything of such sort.
What IIM’s Offer?
IIMs has PGP (postgraduate program) offering PGDM (Post Graduate Diploma in Management), a two-year full-time program, and FPM (Fellowship Program in Management). There are also executive or part-time courses offered by IIMs for graduates with more experience or a working professional, respectively.
1. Post Graduate Diploma in Management
The PGP (Post Graduate Program) offers Post Graduate Diploma in Management. The program is equivalent to an MBA, and some of the IIMs have started giving MBA degrees instead of PGDM. The program is a two-year full-time program that accepts freshers all well as experienced candidates.
Some IIMs offer PGPX/ PGPEX for graduates with experience of 5 or more years. This is a one year program that is similar to PGDM provided by PGP IIM.
2. Fellowship Program in Management (FPM)
It is a doctorate program offered by IIMs. FPM aims to create professionals in the field of teaching and research. FPM is equal to Ph.D. globally.
3. Executive programs
These are part-time programs offered for working professionals. The certificate courses are not equal to MBA; only PGDM provided by IIMs is equivalent to MBA. IIMs have partnered with third parties to implement these programs.
List of IIMs – Where are Indian Institutes of Management located?
1. IIM Ahmedabad
IIM A was established in 1961 as a public institute for management studies. It is located in Ahmedabad Gujarat. Indian businessman Kasturbhai Lalbhai and Indian Physicist Vikram Sarabhai, both natives of Gujarat, played a prominent role in establishing the institute.
The area of the campus is 102 acres. There are 33 dormitories and also married a couple quarters for students who are married. The notable feature of IIM A is its architecture and Vikram Sarabhai Library.
Fees Structure of IIM A is 23 lakhs for PGDM, which is the highest among all the IIMs. IIM A fees are high because old IIMs do not take funds from the government while the government funds the new IIMs.
2. IIM Bangalore
IIM B was established in 1973 and was the third to join the IIM list. IIM B was created to bring management graduates in public services. The government of Karnataka offered 100 acres of land free of cost to the institute. The campus life of IIM Bangalore is exciting, with a lot of cultural events being organized every year. IIM B fees for PGDM is 21 lakhs.
3. IIM Calcutta
IIM Calcutta was the first IIM to be established in India. It was established in 1961, along with IIM Ahmedabad. The institute started in association with MIT Sloan School of Business. IIM Calcutta a triple-A accredited management institute in India. It is located in Kolkata, West Bengal. The PGDM fees for IIM C is 21 Lakhs.
4. IIM Lucknow
IIM Lucknow was established in 1984 and is located on the outskirts of the city. The institute has two campuses, one in Lucknow and the other in Noida. The Noida campus is solely dedicated to the one-year executive program. IIM Lucknow acts as a mentor to many new IIMs. It has tied up with 24 business schools for student exchange programs.
5. IIM Indore
IIM Indore came into existence in 1996, in Indore Madhya Pradesh. The institute is a management institute of national importance. IIM Indore has a UAE campus which was shut down in 2014, making it the first IIM to start operations on foreign land. The exchange program rate of IIM Indore is high compared to other IIMs. IIM I offers a five-year integrated program for 12th passed students. The fees of PGP in IIM Indore is 16 lakhs.
6. IIM Kozhikode
IIM Kozhikode was established in 1996, in Kerala. It used NIT Calicut as a temporary campus till 2003. Architects Joseph Stein and Stein Mani Chowla Architects designed the institute. The campus has a 111-acre campus in a hilly area. The campus can accommodate 900 students in its 17 hostels. The primary source of water for the campus is rainwater harvesting. A lot of extracurricular activities, along with various clubs, are present on the campus. The PGP fees in Kozhikode are around eight lakhs per annum, which is likely to be updated for the 2020 batch.
7. IIM Shillong
IIM Shillong was established in 2007 to bring quality education for Northeast citizens. The motto of the institute is sustainability, and it annually hosts an international conference on sustainability. Students of NID designed the logo of the institute. The logo and colors represent the environment of Shillong, a yellow Sun rising between green hills, and the institute channelizes the curly rays of the sun. The institute is hosted on a temporary campus, which is all pink during November when the cherry blossoms pop. The PGP fees of the institute were 13 lakhs in 2018, which will be different for 2020 batch students.
8. IIM Rohtak
IIM Rohtak was established in 2010 in Haryana. IIM Rohtak offers IPM, which is a five-year integrated program the same as provided by IIM Indore. Students get the option to drop after three years of BBA if they want to switch the degree. IIM Rohtak was the first IIM in Northern India. IIM Lucknow mentored the institute for its first three years. A 200 acres area was provided by the government of Haryana to build the permanent campus for the institute. The institute has announced from 2019 it will take WAT to select candidates along with the CAT score. The PGP fees in IIM Rohtak is 6 lakh per annum.
9. IIM Ranchi
IIM Ranchi is a public management institute established in 2010 in Ranchi Jharkhand. IIM Ranchi is an autonomous institute free to design its curriculum and courses like all other IIMs. The institute has a temporary campus in Suchana Bhawan behind the governor’s house. Ninety acres of land was allotted to a permanent campus by the government of Jharkhand free of cost. IIM Ranchi offers PGDM, PGDHRM, FPM, and executive programs. The fees of PGP in IIM Ranchi were 14 lakhs for the 2018-20 batch; the 2020-22 batch might anticipate some changes.
10. IIM Raipur
IIM Raipur was established in Raipur Chhattisgarh in 2010. Chief Minister Raman Singh inaugurated it. The institute is being operated from its new campus in Naya Raipur. The campus was built on a budget of 600 crores. The teaching in IIM Raipur is a mixture of lectures, field visits, case studies, and group discussions. IIM Raipur offers PGDM, EFPM, PGPMWE (Post Graduate Programme in Management for Working Executive), and EEP (Executive Education Programme). The PGP fees in IIM Raipur is around 12-13 lakhs.
11. IIM Trichy
The Indian Institute of Management Tiruchirappalli was established in 2011 in Tamil Nadu. IIM Bangalore mentored the institute. IIM Tiruchirappalli is currently temporarily operated at the National Institute of Technology, Trichy. An area of 172 acres was allotted to build a permanent campus for the institute with all the amenities from hostels, classes, lecture halls, and residential space. The project has a budget of 584 crores. IIM Trichy has another campus set up in Chennai, which offers PGPMWE only. The two year PGDM in IIM Trichy costs around 14 lakhs.
12. IIM Kashipur
IIM Kashipur was established in 2011 in Kashipur Uttarakhand. The institute offers PGDM, FPM residential and nonresidential and two-year EPGPM. The institute operates from a permanent campus of 200 acres. The PGDM fees of the two-year program is 13 lakh in IIM Kashipur. It was the second IIM established in North after IIM Rohtak.
13. IIM Udaipur
IIM Udaipur is a public business school established in Udaipur Rajasthan. It was established in 2011 according to the government’s 11th five-year plan. The institute offers two years of the full-time management program, doctoral program along with other management programs. The institute operates from a temporary campus at Mohanlal Sukhadia University. The fees of PGDM in IIM Udaipur is around 16 lakhs.
The third generation IIMs are IIM Visakhapatnam, IIM Nagpur, IIM Amritsar, IIM Bodhgaya, IIM Sirmaur, IIM Sambalpur, and IIM Jammu. Except for IIM Jammu, all the other third-generation IIMs were established in 2015, IIM Jammu was established in 2016. These IIMs were created to fulfill the demand of management professionals in India.
IIM Amritsar, Sirmaur, IIM Visakhapatnam, IIM Sambalpur, and IIM Jammu operate from a temporary campus in the same city, while permanent campuses are under construction. IIM Bodh Gaya shifted to its permanent campus in July 2019. The PGDM programs in new IIMs cost around 12 to 13 lakhs. These institutes offer several management programs with total autonomy over the course.
IIMs are the prestigious colleges of our country with one of the most excellent curricula and top students in the country. Not just academic but all-rounder students. So if you are aiming for IIMs work hard, focus on everything you do and add it to your profile, follow your hobbies. Be yourself, and you can make it to the prestigious Indian Institute of Management.