About IIT and IIM
Is MBA good in IIT or IIM? It is every guys dream to secure a seat at one of the best IIMs in the country which provides the top quality management education. Not only in education, the placement in these godly places is mouthwatering. At some point of time IIM was synonymous to business education. But in recent times several B-schools have come up with excellent infrastructures and quality courses particularly IITs, are now given the stature of centre of excellence.
IIT has entered the world of management education quite recently as compared to IIMs. IIT Kharagpur was the first among the IITs to start a school of management in the year 1993. The other IITs came up with this course in subsequent decade. But the value of this degree is well recognized even though it’s new. IITs are also offering some new courses in addition to old courses which are not seen in the old schools like IIT Delhi provided a 2 year specialized program in telecommunication. Starting late has given them some new opportunities. According to Surendra S. Yadav, Head, DMS IIT Delhi, students are taught to make their business plans in a holistic manner. A small decision making in marketing can affect the functioning of other departments. Yadav said this ‘system thinking’ and ‘process oriented approach’ helps student in making wise decisions in their jobs. No other B-school in designed in such manner. IIT has recently changed the curriculum of MBA program along with the admission criteria. Students from all disciplines can now pursue MBA which will enable cross disciplinary learning. The advantages of the course structure in IIT are that students are flexible to choose their electives and specialization. This congregation of B Techs, M Techs and MBAs help in a good learning environment. There is a lot of opportunity in research and consulting as students can go and study abroad for some period of time without paying any additional fee. The success was very fast because of the alumni base that goes with the brand IIT in various business institutions. This helped a lot to get at par with the top institutes. MBA at IIT blends the discipline of science and technology with management skill. In addition to this IITs have a much less fee (around 2-8 lakhs) compared to IIMs. But intake of students for MBA in IITs is too less than IIMs. This provides a recruiter to favor IIM because of wider diversification. IITs are suited well for engineering as the infrastructure is made so and IIM have it for higher education. The faculty to student ratio is high among the IITs and is expected to come down. The expansion of infrastructure is also needed.
The IIM hold a special position in the eyes of the industry and IITs are yet to reach there. But this difference in opinion about IIT and IIM is dissolving fast. IITs are also producing good management grads. Management is not only about a first job but it more oriented about the career at the end of 15 years.
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