The other side of IIMs?

I came across this good article on what ails the IIMs. I must acknowledge that it’s a very decent effort on part of Apurv to give the other side of the story, but I feel some points have been over-emphasized. I agree whole-heartedly about students being disinterested in second year, lack of research, infrastructure in some of the old IIMs being bad etc, but here are my add-ons to the article.

National demand of 20,000 IIM students per year:

I agree that 1,500 is a paltry number when it comes to number of pass-outs every year. But I really don’t think a 20,000 count is where we want to head. Looking at the industry recruitment trends, there is sure some room for say 2500 more, but I feel it would be a disaster to increase the number any point beyond. For one, there are other good B-schools that chip-in in the gap. Two, with that kind of a massive number, there would just be too much of difference within the IIMs. In other words, there would be a huge quality difference between the top IIM students and the bottom ones, which isn’t really good for anyone. Remember, the numero uno reason why IIMs, in general, are considered good is because of the quality of intake. If numbers swell and intake goes down in quality, it is something to worry about. And salaries are something you can’t ignore. You really wouldn’t want to pass out from an IIM only to know that some of the non-IIT Engineering pass-outs earn more than you.

About International ranking:

The other issue that comes often is how IIMs are never among the top-50 B-schools in the world. Those surveys are biased alright, but am I the only person to think that these international surveys are heavily biased against non-US B-schools? Does everyone really agree that 55 out of the top-100 B-schools are in US? Is education throughout the rest of the world that bad?

Rashmi has highlighted some points about the problem with taking GMAT scores for ranking, but here’s one more: 15% of the overall weightage is given to salary upon graduation, which is always measured in dollar terms. Someone go and tell them there is something called Purchase Parity adjustment and Cost-of-Living adjustment. In other words, Indian salaries don’t stand a chance when converted to dollar for rankings, but is more than enough for a king-size life in India. This 15% alone could be the deciding factor.

My point is: IIMs don’t stand a chance in these surveys even if they deserve it.

Student diversity

Agreed that 70% of IIMs are engineers, but I wouldn’t call it staid, particularly in the Indian context where Engineering is given so much of importance. It’s not that talented people from all streams are not given a chance and only engineers are pulled in. Most of the good guys go to engineering.

But overall, a really great attempt to give an overall picture.