How much importance should be given to B School Rankings ?
While taking admission to the B School you should always look for certain important things like Current Alumni, Placement records, Accreditations and Ranking. In case of Indian B Schools, there are many agencies,magazines like India Today, Business Today, ZEE come up with their own rankings and methodology to grade B school based on their own criteria. Most of the times Institute which is there in TOP 10 ranking for one magazine survey does not find place in Top 20 for some other magazine.
Only consistency in all those rankings is that you would be able to find IIM-A, IIM-B and IIM-C in top 10. Rest of the ranking has diverse set of institutes. So many times such rankings are like marketing activity for the institutes. It is not recommended that students should blindly take admission to the institute which has good ranking for certain survey. In case of survey conducted for Indian B School rankings there is no predefined or standard way to rank B Schools, every agency has their own views and own set of samples across India. Sometimes samples considered for the ranking is not complete to rank B schools.
Which Ranking should be considered at Standard:
1. Ranking Published by FT.com for worldwide B School Rankings : FT MBA Ranking
This ranking is for worldwide B School Ranking and useful if you are considering options to study abroad.
2. In addition to Rankings there is also Accreditation system NAAC is applicable for Indian Institutes/ Universities.
NAAC grade : A+ Highest grade, A : Second Best Grade , B+: Institutes looking for perfection with some improvements
While applying to B Schools, you can also check if Institute/ University has acquired NAAC Accreditation.
3. Certification from AMBA : It is international agency which provides ratings to postgraduate business education
Some of the reputed rating agencies in India are also going to come up with standard rating system for higher education Institutes of India. It will certainly help to reduce confusion involved for the students while applying to B Schools.
Which rankings do you consider as accurate and can be referred by the students ?