The objective of this research was to arrive at a list of Top Business Schools in India. The research had 3 major modules i.e. Desk Research, Factual survey & Perceptual Rating survey followed by scientifically developed anlaysis & ranking process.
Fieldwork was conducted beginning the 4th week of December 2017 to 1st week of February 2018.
Desk research - List of B-Schools for the Survey
The Module 1 was a secondary research module. A comprehensive list of B- School’s was generated with the help of internet, magazines and other publications. The various sources used for generation of school list included:
- List of school from previous surveys
- A discussion with industry experts to add/ delete any school to ensure we have a comprehensive list
However, it is not possible to get a completely exhaustive list of schools and include them in the survey, we had option of adding any new school name in the survey form if any respondent mentioned any school name outside our list. Effectively, every B- School had a chance of getting covered in the survey if their name was mentioned by the respondents.
Factual data collection
The factual data sheet focuses on the following information areas:
- Selection process
- Affiliation/ accreditations / collaboration
- Learning Components
- Future Orientation
- Global exposure
- Industry Interaction/ live projects/ corporate internship
- Potential to network/ alumni outreach
- Infrastructure/ facilities
In the Perceptual Survey Module
, a strucutred Questionnaire was administered to selected respondents including HR professionals, faculty, young management executives, management students, aspiring students & parents of aspiring management students to arrive at a ranking & rating of B- School’s . The sample selection was done using convenience sampling method though the sample was spread out geographically to get better representation. A sample survey of 1550 was conducted across 16 cities (4 cities each in Zone) viz Delhi-NCR, Mumbai, Chennai, Kolkata, Bangalore, Hyderabad, Ahmadabad, Kochi, Chandigarh, Pune, Indore, Jaipur, Lucknow, Bhubaneswar, Ranchi & Guwahati. The geographical spread of the sample was ensured by selecting multiple starting points spread across the cities.
Final ranking of B Schools
A robust approach is followed to arrive at the final rankings. The step by step process is given below:
- Perceptual Score
- Ratings on various parameters for each B- School
- Calculating importance of various parameters to arrive at weights for each parameter – we use a regression model to arrive at the importance of various parameters
- Calculation of raw scores and weighted scores for each parameter
- Calculation of overall score for each B- School using importance weightage
- Factual Score
- The information collected corresponding to similar parameters as in the perceptual survey
- A detailed scoring system has been developed for each parameter
- After assigning scores to each parameter, raw scores were calculated
- The raw scores were weighted by their importance to arrive at weighted scores
- The final B- School’s core was calculated as in the perception survey
- The final score for a B- School was weighted average of Perception Score and Factual Score - equal weightage given to both
- The final rank was calculated for all those B- School colleges who had shared the factual data. Some of the institutes which got high perceptual score but did not share their factual data have been excluded from the rankings this year. However, list of top 30 is given in an alphabetical order.
- Best efforts were made to reach maximum B- School’s across India; however, any B- School that did not send complete “Fact-Sheet” within the allotted time was excluded from the ranking
- Any B- School which expressly stated that it did not wish to participate and feature themselves in the ranking was excluded from the survey
- Relatively newer B- School’s which have shown noteworthy developments in the field of management education and have less than 5 batches graduated out of the B- School were included in Emerging B- School List, we have also ranked some institutes who have not given their fact sheet but have got good perception score. Such institutes are ranked after those who gave their fact sheet
Note: Present survey has been exclusively conducted by an independent Research Agency named i3RC Insights Pvt. Ltd. (i3RC) using stated methodology for arriving at given rankings.