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What are the hostels like in IIM Ranchi?
IIM Ranchi does not have its own permanent campus. Yet it’s hostel facilities are one of the best. At a distance of 30 minutes from the campus, it’s hostel is in a peaceful location. It is based at National Sports Housing Complex, Khelgaon, Ranchi. It offers the best hostel facilities and makes your college life comfortable and easy.
- single occupancy rooms
- Common mess and laundry facilities
- Gym
- Library
- Computer center
- Washrooms are clean with geyser
- Mega Sports Complex
It is the last point that catches the attention of many. The students of IIM Ranchi have access to the Mega Sports Complex which is a national stadium. All the sports freaks can pursue their passion here amongst the hectic academic schedules.
How is IIM Ranchi MBA finance?
Since you are curious about finance only, I will try to answer your question based on the Finance domain only. To elaborate let’s consider the following merits and demerits
Merits
- Placements: IIM Ranchi is a new IIM so you cannot get front-end IB roles right off the bat. Yet it offers many roles that can be your stepping stones into the finance world. It does not offer front roles in IB, PE, VC, and bulge bracket equity research. One cannot expect such roles in the near future. But the fact is all these roles are available at the top IIMs only to the cream students. So if your profile is the same, changing the institute won’t matter. Many reputed Investment Banks offer middle office roles like Private credit, Debt capital firms, and Outsourced financial research firms. These roles can kick start your career in finance if not grant you a high-paying job.
- Faculty: The finance faculty is just average here and only those who are really motivated and determined can survive. Some even quit finance in the second year due to the same reason. The teaching quality is diverse and some may find it not at par with their expectations.
- Crowd: Most of the students opt for Finance as one of their majors in the second year. Additionally, a team even won the CFA RC India competition and represented India in the Asia Pacific finals. So the crowd is diverse and of premium quality.
- CFA: The CFA Certification aims at enhancing finance knowledge and placements at large. The class lectures combined with the theoretical knowledge of CFA will make it very easy for you to understand Finance in depth.
Demerits:
- Lack of major front-end role opportunities
- Tools like Bloomerang are not much common in the curriculum
- The relatively new courses in Finance like PE/VC, alternative investments, REITs, SPACs, IPO financing, and M&A are not given enough focus.
- The teaching faculty needs to be improved
All in all I think IIM Ranchi is a decent choice for Finance and in the years to come will have improved a lot.
How is the interview process at IIM Ranchi?
My friend got a call for an interview from IIM Ranchi. Her CAT score was 97-98 percentile and she had around 4 years of experience. She was called in by 3 male panelists who first asked her to introduce herself and speak about herself. When they felt she was comfortable enough they started asking questions like
- The name of one Power manufacturer in Hyderabad
- How hydroelectric power is generated
- Where is Asia’s first Hydro-electric power situated
- Why she chose to pursue an MBA after working for 4 years
- What would she have done if there were no MBA colleges
- Her long term goal
- Her weaknesses
She was able to answer almost all the questions confidently. Her interview lasted for 30 minutes after which they asked her to leave. Fortunately, she was selected for the final shortlist. Based on her experience, she shared the following tips for anyone who is appearing for an interview
- Prepare your answers related to your current job and role.
- Conduct historical research about the places you have visited or stayed at
- Prepare strong points that will help you turn the table in the worst-case scenarios.
- Read current affairs and news headlines
- Be your genuine self. Trust me this will help you win their favor more than anything else.
So give your level best with utmost confidence and you are good to go.
Does an IIM tag from a newer IIM (say IIM Ranchi) help in a person's career?
The question is too general. Yet I will share my own opinion.
Indeed, IIM Ranchi has the potential to help you clear the obstacles in your career and climb the success ladder. It’s the following aspects of IIM Ranchi that make it a good option to uplift your career
IIM Tag: In this era of tough competition, it’s the IIM tag that helps you avail the finest benefits after an MBA.
Growth: All the news IIMs focus on the general development of its students at large. Unlike older IIMs you can initiate committees and clubs that have never been established before. You can take the reins and enforce student culture at your college.
Long-term benefits: While joining a new institute one should definitely look at the bigger picture. After all, once even IIM Ahmedabad was a new IIM but today it has its own legacy. The same will happen with all the other new IIMs so you shouldn’t lose this opportunity just for short-term benefits.
Placements: We are quick to judge colleges based on its placement statistics. In reality, Management is a field in which lifetime value is considered not salary. Yet if you base your decision on placements this year's statistics are as follows
|
Particulars |
Statistics |
|
Number of Recruiters |
250+ |
|
Number of Students |
325 |
|
Highest Salary |
INR 32.21 LPA |
|
Average Salary |
INR 16.17 LPA |
|
Top Recruiters |
Deloitte, Aditya Birla Group, Infosys, EY, IBM |
|
Major Sectors |
IT/ITES, Consulting, BFSI |
These packages may seem lower than those offered at older IIMs but with excellent work, you can climb the ladder gradually.
Curriculum: The pedagogy is as good as any other top B School. You can gain a lot of knowledge just by attending the lectures conducted by the learned faculty alone.
Some points that might be important to consider against your decision to join IIM Ranchi are
- The infrastructure is not at par with other IIMs
- The distance between the campus and accommodation is very much.
- You will be offered lower packages as compared to older IIMs
However, I don’t think these points can overshadow the plethora of opportunities IIM Ranchi offers.
Are placement stats of IIM Ranchi fake?
The placement statistics released by IIM Ranchi are not particularly fake but yes very exaggerated. For example, the recruiters who just recruited 2-3 students a couple of years ago are still added to the list of recruiters. This tactic is employed to show off the brands of top companies.
The CTC is calculated wrongly and also exaggerated. The same role offered by the same company to students of other B Schools is shown at IIM Ranchi to offer a CTC higher to its own students. This reality is wrong and not what the company promised. This has now come into the notice of many and IIM Ranchi Is slowly losing its reputation. The students feel cheated because many students chose Ranchi over other IIMs despite calls from them just because of its placement statistics.
One way to clear the misconception is to check the NIRF placement report. You can see from it that Ranchi lies below Trichy and even Udaipur. So do your part of research before finally choosing IIM Ranchi.
Which is better, IIM Ranchi or IIM Trichy?
You will be starting an everlasting debate if you compare IIM Ranchi and IIM Trichy. Yet if I have to be part I will take Trichy’s side. To make my answer sound clear, I will list the similarities and dissimilarities of both colleges.
Similarities:
- Faculty
- Infrastructure
- Location
- Perception
- Industry Connect
Dissimilarities:
Placement:
|
Particulars |
IIM Ranchi |
IIM Trichy |
|
Number of Recruiters |
250+ |
110 |
|
Number of Students |
325 |
230 |
|
Highest Salary |
INR 32.21 LPA |
INR 34 LPA |
|
Average Salary |
INR 16.17 LPA |
INR 17.01 LPA |
|
Top Recruiters |
Deloitte, Aditya Birla Group, Infosys, EY, IBM |
Amazon, Dell, Nomura |
|
Major Sectors |
IT/ITES, Consulting, BFSI |
Consulting, Sales & Marketing, Finance |
From the table we can clearly see that the placement opportunities are better at Trichy than at Ranchi.
Campus: One major difference between the 2 IIMs is that Trichy has a permanent campus whereas Ranchi does not. So if you want to live a dreamy college life with amazing accommodation facilities, then Trichy is for you.
How is the IIM Ranchi IPM interview?
My brother had his interview at IIM Ranchi last year for IPM. His 10th marks were 95% and 12th (PCB) marks stood at 78.4%. His interview was scheduled for the afternoon. He was welcomed by 2 male panelists who seemed quite comfortable and asked him if he had had lunch before appearing for the interview. Then they asked him the following questions
- 10/12th marks
- Favorite subject (PS: I said biology.)
- Why did you choose IPM after having biology? How would these subjects complement you?
- What is the difference between gray and white matter? (Brain)
- What is the function of the vitreous humor, and where is it located?
- What are the different enzymes secreted by the pancreas?
- Name the smallest and largest bone in the human body. (Location as well)
- State the “Second law of thermodynamics.”
- Define E=mc^2
- CM of your state. Any current official statement made by him.
- What is your hobby?
From the above list of questions, we can boldly say that the majority of the questions are aimed at testing your general knowledge. If you have a confident aura, you will easily win their favor.
Pro tip: You can direct the interview to a favorable topic by elaborating on any specific answer.
Is IIM Ranchi worth joining?
Yes, IIM Ranchi is indeed worth risking your career for. It’s one of the best B-schools out there that has a plethora of facilities that most top institutes offer. My cousin decided to join IIM Ranchi because of the following features
Curriculum: IIM Ranchi offers a variety of electives in various fields. Moreover, the live project opportunities help the students gain practical experience. They are able to use the classroom concepts in the real world within real constraints of resources, people factors, and other organizational constraints.
Placements: IIM Ranchi has excellent placement opportunities. The statistics for this year are
|
Particulars |
Statistics |
|
Number of Recruiters |
250+ |
|
Number of Students |
325 |
|
Highest Salary |
INR 32.21 LPA |
|
Average Salary |
INR 16.17 LPA |
|
Top Recruiters |
Deloitte, Aditya Birla Group, Infosys, EY, IBM |
|
Major Sectors |
IT/ITES, Consulting, BFSI |
Faculty: The faculty at IIM Ranchi is a rich blend of resident faculty and visiting faculty from top b-schools like IIM A, IIM C and FMS. They are very experienced, and humble and implement joint learning techniques, engage students in experiences, and emphasize higher-order cognitive activities in the classroom.
Research: The research culture at Ranchi is very prominent. In fact, certain courses aim solely at developing outstanding scholars for research careers at business schools/universities or careers in Government NGOs that require advanced analytical and research capabilities.
Location: Location-wise IIM Ranchi is superior owing to the Birsa Munda airport which is located at a distance of 11 km from the college.
Accommodation: IIM Ranchi provides single-occupancy rooms for accommodation. The hostel is located in National Sports Housing Complex. It has
- Attached bathrooms and balcony
- Drinking water
- Automatic washing machine
- A cafeteria as well as a restaurant
All these facilities make IIM Ranchi among the best of the new IIMs. T.I.M.E. has ranked it AAAA+ along with older IIMs like IIM I, IIMK, IIM S and a few other top B-schools in the country.
Are New IIMs (Trichy, Udaipur, Ranchi, Rohtak, Raipur, Kashipur) good for MBA in Finance? If not suggest some B-schools. Really interested in investment banking.
Honestly speaking, a career in investment banking should not be considered by the new IIMs. It’s a too ambitious profile to match the relatively new curriculum of these IIMs. Even if you are in a top B School, you will have to remain among the top students to get placed for a front-end role. One can still get roles in corporate & business finance but getting roles in Investment Banking is rather difficult.
Yet if you are not choosing an older IIM and want to choose a newer one, IIM Trichy is the best among them. The order is
IIM Trichy > IIM Udaipur > IIM Ranchi
There are many B Schools apart from IIMs that offer great Investment Banking roles. These include SPJIMR, JBIMS Mumbai, IIFT, and XLRI.
What are the differences between an older IIM like Indore and Kozhikode and a newer IIM like Ranchi, Rohtak, or Trichy?
The first-generation IIMs clearly have many advantages over the second and third-generation IIMs. Some major differences include
- Infrastructure: Thenodler IIMs have their own permanent campuses whereas most of the newer IIMs either function through a temporary campus or have a permanent campus that is not at par with the older IIMs.
- Faculty: The older IIMs have better experienced and learned faculty than the newer ones. Also, the visiting faculty is much better at these IIMs. The student and faculty strengths are therefore strong here.
- Placements: The older IIMs have long-standing ties with corporate firms and top companies excelling in the placements scenario and leaving behind the new IIMs.
- Corporate Exposure: The exposure at older IIMs is better than that of newer IIMs due to their early establishment.
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