IIM or FMS? Should I choose FMS Delhi over IIM Ahmedabad or IIM Bangalore or IIM Calcutta? Will a premium tag of IIM A/B/C carry a definitive advantage to my career? What could be the disadvantages of choosing FMS over much-hyped IIMs?
These are the questions that could hover your mind after qualifying the Common Admission Test (CAT) with a reasonably high percentile. You can get confused on choosing premier chain of IIMs which includes prestigious IIM ABC (Ahmadabad, Bangalore and Calcutta) or going for a less hyped Faculty of Management Studies (FMS) which competes well with IIMs in placement figures.
IIM tag more important or ROI?
So, does the tag of an ‘IIM’ matter more than its exceptionally high fee? What about the return on investment (ROI) of FMS? What is the average salary package of both? Do top companies visit FMS for recruitment? These questions can create a lot of confusion for the students who are eligible for admissions to the top IIMs as well as FMS. To help you choose the best, we present below a clear picture of IIM ABC vs FMS on various parameters including placements, career prospects, fee structure, ROI, and more to ease your decision-making process.
In the year 2018, the average salary at FMS was Rs. 21.1 lakh per annum, which was almost the same or higher than the placement figures of IIM A,B, and C. The only difference between their placements is that the top investment banks and consulting companies visit IIM ABC for recruitment. They may or may not visit FMS every year. Considering the batch of 400 students, nearly top 20 students only are able to get such prestigious offers in general.
Now, if you are not that talented and gifted, then you should know that all the companies recruiting from the top five B-schools of India offer the same package across the campuses. So, if you are interested in making a career in finance, general management, operations or product management, then FMS is equally a good choice. As per its placement reports, as much as ten per cent of its batch gets consulting and front end IB roles every year.
When a company looks to hire an MBA, they primarily consider candidate’s skill set and past work experience. From which college you have done your MBA comes later. Probably IIM ABC is higher on ranking but for a recruiter, the top league of B-schools which obviously includes IIMs and FMS along with few others carry equla weightage. Your ‘IIM’ tag won’t help you if you don’t have the required qualities and relevant work experience. The brand of B-school from where you have done MBA will not matter much if you are not capable enough.
While the total fee for IIM ABC is as high as Rs 10 lakhs per year, it is merely Rs 10 thousand for FMS. The reason is that the latter comes under University of Delhi which is a central university.
Thus, it won’t be wrong to say that FMS offers a far better ROI as compared to any other premium B-school. The lesser fee also gives you the freedom to choose the domain of your choice during campus recruitment. In most of the cases, an MBA student from a top IIM has an education loan of 20 lakhs on his head. So, it becomes quite difficult for him/her to prefer the job of his/her area of interest over a highly paying one. Choosing a high paying recruiter is quite common under such circumstances when you have such a huge liability even if the job profile is not that interesting. An average student at both the B-schools may get the same package, except that the IIM student has to pay back a hefty loan.
Making a career decision under the pressure of a huge education loan is a tough task. No matter how much you want to pick a marketing or general management role, there are high chances that you will end up taking a consulting or finance job with the sole reason of getting more money.
An MBA degree from FMS enjoys a good brand value as well. It is also regarded very high by the organizations. Both the B-schools have good placement records as well with the average package to be more or less the same.
Ultimately, it all comes down to the individual choice. If you are someone who has got calls from all the top IIMs along with the FMS, then you will need to consider these factors deeply. The most crucial choice will be between the RoI (return on investment) and the ‘IIM’ tag. What will you choose? For those who have financial constraints, FMS obviously is a wiser and more rational choice.