Indian Institute of Management - [IIMR], Ranchi - Course & Fees Details

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.

Yes, the IPM program of IIM Rohtak is actually worth it because it’s an IIM after all. Both Rohtak and Indore excel at their IPM programs. If you are not willing to sit for the CAT again and are not confident that you will get in despite trying this is the best option for you. But if you want to explore more opportunities and are confident of getting a better CAT percentile next year this program may not be for you.

IPM or Integrated Program in Management is a 5-year program of business studies from undergraduate to postgraduate level (Integrated BBA-MBA). Students will be awarded a Master of Business Administration (MBA) degree at the end of the program.

Curriculum: The foundation of this program is broad covering areas like humanities, social sciences, arts, and sciences. Other areas that are tackled by this program are management, marketing, accounting, finance, economics, information systems, data science, and strategic management. The pedagogy involves lectures, classroom discussions, experiential lessons, case analyses, simulations, group projects, internships, and mentorships that help in creating an active and student-favorable environment.

Fees: The total fee for the first three years of the program is INR 1,593,000. These fees do not include mess charges.

Eligibility: The eligibility criteria for the IPM program are as follows 

• Candidates who have passed 10 + 2 with a minimum of 60% Marks.
• 55% Marks for SC / ST / PWD.
• Indian Nationals & PIO / OCI Card Holders are eligible to apply for the Program.

Admission process: 

IIM Ranchi Admission Process for the IPM program consists of 4 Stages, which are as follows:

1. IIM Ranchi Reviews Applications received for IPM Program.
2. Candidates are Shortlisted based on their Valid SAT / IPMAT (Conducted by IIM Indore) scores.
3. Shortlisted Candidates are called for Personal Interviews for Final Selection.
4. IIM Ranchi Finalize Candidates based on their Overall Performance in Personal Interviews & their Overall Academic Scores

Overall I personally feel that the IPM program at IIM Rohtak is worth trying.

The simple answer to your question is no, the new HR programs of IIM Ranchi, NMIMS, or XIMB are not at par with the established ones XLRI, TISS, MDI, and SCMHRD. The established programs especially that of XLRI are the epitome of HR programs. They cannot be compared to the new ones at any given level or parameter.

• Faculty: The professors of XLRI are renowned throughout the industry for their competency. They specialize in almost every domain one can think of be it Law, Competency Modeling, Compensation, or Performance Management.
• Peers: It’s the cream students who get the opportunity to get into a prestigious college like XLRI. You can see tough competition between the finest students at college. Every individual has a valuable opinion and stands to contradict others. Their thinking pattern is broad and given a case study, they look at all angles from accounting to finance to laws while proposing the solution. The situation at TISS is also quite similar.

Now one can say that the curriculum can be replicated and learned faculty can be sought to match the quality of the HR program at these institutes. But the truth is faculty and curriculum are the main but not the only factors that determine an institute's worth. Its own culture, ethics, and background have a lot to do with the programs it offers.

So one cannot match XLRIs programs no matter how much they try.

As a fresher, you will find the curriculum quite hectic and unapproachable. Yet with proper motivation and enough time you will find yourself adapting to the rigor and it will become a part of your life. Some major highlights of the course are

• Induction program: IIM Ranchi conducts a unique induction process wherein students from all the programs work together. It helps to inculcate Teamwork, creativity, and leadership through various tasks. The Introduction To Business session gives you a broad idea of both HR and other domains like Marketing, Finance, Operations, etc.
• Curriculum: The curriculum at IIM Ranchi does not solely focus on HR subjects. Rather, it gives a strategic and integrative perspective from the very beginning. This aims at giving rise to future HR Leaders as Business Partners. The Foundation courses cover a broad spectrum like HR Scorecard, Job Evaluation, and Job Analysis.
• Specialization: Another major highlight of the course is the specialization opportunity offered to its students. Apart from General HR Management, the PGDHRM course lets you specialize in Industrial/Labour Relations as well as Organization Development. This is a book for people who want to work in PSUs or crack exams like UGC NET. This makes it the first IIM to offer specialization in HR as well as the first IIM to offer specialization within its HR course.
• SHRM guidelines: The content of its curriculum is based on the SHRM guidelines which is an International HR body to give the best to students in terms of knowledge.
• Placements: The placement statistics of HR program are as follows 

All these make the HR program a considerably decent option.

Let’s discuss some major factors that make IIM Ranchi’s PGDM program a good one.

Hostel: IIM Ranchi has its hostel located in a very serene area. It provides single occupancy rooms to all its students with facilities like a geyser, laundry, library, and cafeteria.

Placements: The placement opportunities at IIM Ranchi are incredibly good. It boasts of 100% placement percentage. I will let the statistics do the talking

Industry Exposure: The guest lectures conducted by industry experts offer great exposure to its students.

Academics: The curriculum and courses offered are spectacular and enhance your knowledge to a great extent.

National Stadium: The sports freaks can avail the state-of-the-art facilities at the National stadium, Khelgaon Sports Complex, which is a 2 minutes distance from the hostels.

So the PGDM program offered at IIM Ranchi is a pretty good one.

Compared to the older IIMs it is not very good but compared to the newer IIMs it is way better. Its USP is its location in an Industrially rich belt that increases your chances of having an excellent career in Management.

Now if we compare it to the other B Schools, it ranks lower than FMS, XLRI, SP Jain, MDI and JBIMS but higher than IMT, IMI, Fore, XU, GIM, etc. It is better than these B Schools because of the IIM brand.

This program is best for people who want to enter the field of teaching and academics.