There exists a vast array of career paths to explore these days. There is also a surplus of highly educated individuals vying for these opportunities. Navigating through this plethora of career options can be daunting, particularly when it comes to selecting the appropriate postgraduate educational program. Despite the myriad of choices, Masters of Business Administration (MBA) continues to be one of the most sought-after postgraduate degrees for individuals nationwide. While there are countless universities offering MBA programs, who does not want to enrol in two of the top premiere institutes in the country – the IITs and the IIMs, which provide world-class education and facilities.
Established long ago, the Indian Institutes of Technology (IITs) have been renowned for their engineering and technical courses since their inception. The first IIT was IIT Kharagpur, and it was founded in 1951. Despite the prominence of engineering programs, only seven out of the 23 IITs offer admissions in management programs.
In 1961, the Indian Institutes of Management (IIMs) were established with the setting up of IIM Calcutta and IIM Ahmedabad. With 21 IIMs spread across the country, they have gained recognition for delivering high-quality education and conducting cutting-edge research in the field of management.
MBA programs at both the Indian Institutes of Management (IIMs) and the Indian Institutes of Technology (IITs) are highly esteemed for their comprehensive curriculum, distinguished faculty, and outstanding educational standards. IITs offer a variety of MBA programs, including MBA, MBA in Business Analytics, MBA in Telecom, and others, providing students with diverse specialisation options.
IIMs, originally established for business and management studies, offer a wide range of MBA programs, including regular and online options such as Executive MBA, Executive FPM, PGPM, and PGDM, catering to the needs of professionals seeking advanced education in management. Candidates who want to do MBA from IIT will have to appear for and qualify only in the CAT exam, whereas for admission in IIM, they will have to qualify CAT, GMAT and GRE exam.
The Department of Management Studies at IIT Delhi boasts an impressive record of successfully placing all its graduates. In the top IITs, the average salary package typically ranges from Rs 20 lakh to Rs 25 lakh per year. For the newer IITs, this average falls between Rs 10 lakh to Rs 20 lakh per year.
At IIMs, the placement process is detailed and usually divided into three parts: summer placement, lateral placement, and final placement. In the year 2023, the highest salary package offered reached Rs 58 lakh, while the average salary package stood at Rs 31 lakh.
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