I believe that the roles available in the finance sector at NMIMS are readily equivalent to those at IIFT, if not superior. Mumbai's location is quite advantageous for the institute. During placements, a sizable number of finance companies visited the campus. 

However, there is fierce rivalry for these positions within the class, particularly among those who studied business as a major in undergrad. This is why it can be difficult for engineers pursuing an MBA at NM to be shortlisted for financial positions because financial institutions prefer to interview candidates with backgrounds in commerce. However, getting on a shortlist for financial roles becomes simpler if you are able to pass one or two levels of CFA or FRM.

In terms of financial roles, NMIMS = IIFT > new IIMs

Check the table below for IIFT 2023 cut-offs released by the institute as part of the selection criteria document. These are qualifying cut-offs:

Firstly, you should focus on getting a very good score on the entrance exam as it is something that demonstrates your innate intelligence, which is a good indicator of your potential to succeed in the program.

Secondly, you should focus on scoring well in the GD/Essay portion of the admission process. This demonstrates your intellectual capacity and knowledge, which can also be important qualities for success in an MBA.

Thirdly, you should focus on other points in your engineering experience that showcase your interests and abilities such as hobbies, sports, books, or other extracurricular activities that you are passionate about. Discussing these during the interview can help to showcase your personality and unique qualities.

Lastly, you should be very clear on why they want to pursue an MBA and why they want to attend that specific college. This demonstrates your clarity of thought and future career aspirations, which can be appreciated by the admission committee and compensates for the low CGPA.

The exchange course at IIFT is part of the two-year MBA (International Business) degree. It takes place over three trimesters. Here are the three trimesters: -

Spring Trimester: July–September, I and IV: At the latest, candidates should be on campus by June 30 of the same year.

Winter Trimester: II and V, October to December: At the latest, candidates should be on campus by September 30 of that year.

Third and sixth trimesters are January to March: Candidates must be on campus by the end of the year, which is December 31st.

All forms must be sent by April 30 for the Fall and Winter trimesters and by October 31 for the Spring trimester of the same year. The Institute likes to have exchange students during the January-March Trimester.

The list of classes can be chosen either when the application form is sent or when the candidate is on campus.

To get into top MBA colleges like XLRI and IIFT, you would, without a doubt have to work really hard. It would be wrong to say that it is impossible. It is possible, one just has to stay focused on what they are doing and study well.

Any recruiter from IIFT or XLRI checks whether you will prove to be a profitable employee to them or not. This is the core strategy behind their entire recruitment process. Plus, even when you manage to get into reputed colleges like these, remember that the panel would give great importance to your academic background. Low grades could prove to be a great setback for them and for you too- in terms of placement. It can block you from grabbing a placement at a good company. That's how tough the overall criteria is!

My personal advice would be to try to leave such an impression of yourself that your personality becomes memorable to them. You have to be solid and confident throughout the interview. In case you are preparing for the exams, just work hard.

If you are one of those who already have cleared the exam and simply want an idea on the interview and preparing for it, you will get it through hard work.v

Having below-average academics is a very relative thing in summer internships and final placements. You cannot measure the two parameters - Good grades and good placement. You might get into a very good company if you perform well in GD and interviews.

It is difficult to answer the long-term aspect of this question, but there are several senior alumni who graduated 20+ years ago from IIFT and have become respectable in their organizations. Some have even become successful entrepreneurs. It is considered as one of the best B-schools in India. So, you do not necessarily have to write CAT again.