If you have been selected for IIM A/B/C, you need not read beyond this point. But if you converted IIML, FMS and/or XLRI or hope to convert JBIMS then it becomes confusing. Should you go for the IIM Tag or the ROI or the aura of XLRI?

As a student if you are interested in HR then XLRI is the place to be in. The best offers for HR in India are only open to XLRI or TISS graduates. Hardly anyone from other B schIf you are a person from agri related course or interested in micro finance or agri related jobs (marketing, supply chain) go for IIML – ABM.

Here I will focus only on the IIML PGP, XLRI BM, FMS MBA and JBIMS MMS – the general management programs. Before we move forward let share my point of view on these four institutes based on the parameters that most people use to choose a B-School:





Brand Value – Almost Similar

Both are among the oldest B-Schools in India with a huge Alumni Base.

The IIM Tag well known as the Marketing Campus between recruiters

Well Know for XL Culture and at par with IIM ABC

Total Cost of MBA

INR 4 lakh

INR 13 lakh

INR 18-19lakh

MBA Median Salary

INR 16.5 lakhs pa

INR 16 lakhs pa (Based on informal Sources)

INR 16.25 lakhs pa

Placement Area

Sales & Marketing

Consulting & Marketing

BFSI (BM Program) & HR (HR Program)

Quality of Student Life

FMS/JBIMS cannot be compared to the IIMs or XLRI when it comes to infrastructure. There are no swanky hostels, huge open spaces and state of the art auditoriums. Student life & interaction is better in XLRI & IIM than FMS. Exposure via Industry Talks, Alumni interactions, Projects happens in the order IIML = XLRI > FMS = JBIMS

Teaching Methodology (Case vs. Quantitative)

Predominantly Lectures with Class Discussions

Case Methodology

Case Methodology

Quality of Teaching & Faculty Orientation (Research vs. Teaching)

Very Similar

 Batch Size

FMS 220, JBIMS 120


180 BM, 180 HRM

Location Attractiveness

JBIMS Mumbai > FMS Delhi > XLRI Jamshedpur > IIM Lucknow

B-School education is not just about the classes. It is also about developing a perspective. This is something that XLRI & IIML will develop more. What is very important in the long run is the learning you get from IIML and XLRI. The alumni base (for IIML of all the IIMs), the peer learning, the faculty etc are things which will help a candidate more than any ROI in the long run. The peer group diversity will be in the following order IIML > XLRI > FMS > JBIMS. With FMS and JBIMS laying a very high weight to CAT, the peer group will be more diverse at XLRI and IIML.

Being part of a university system FMS and JBIMS have less academic flexibilty. In IIML and XLRI, the faculty, responding to emerging trends in the market, can float new courses with ease, while in case of Delhi and Mumbai University introduction of a new course will be a lengthy process.

The FMS & JBIMS curriculum is structured in a way that it encourages collaboration and team-work over cut-throat competition. The famed campuses of India (the IIM’s) have the “I must compete in everything and with everybody” attitude a result of two years of living in a cut-throat environment where everything is relatively graded. So if you want to escape that go to the one of two the Coolest Campuses in India – FMS or JBIMS.

However the rising cost of business education is making FMS and JBIMS as the most preferred schools. In terms of payback period, they beat others hands down. The total cost of a management degree at FMS and JBIMS is a fraction of that at the IIM L and XLRI. Add to the fees the living expenses, food, alcohol, travel and a lavish lifestyle; it will add up to at the max 4 lakhs as the total cost. So when we throw the fees into the mix, FMS and JBIMS win hands down, the ROI is just not comparable. Basically you don’t need a student loan and while IIML and XLRI students graduate with a loan liability (EMI 35-50k for 5-7 years) while FMS and JBIMS students graduate and purchase a car!

The next thing to look at is choosing between FMS and JBIMS or IIML and XLRI.

IIM L Vs XLRI: the difference between these two would be in terms of location and the tag. Jamshedpur is the hub for many TATA businesses and hence will provide very good industry interaction. On the other hand while Lucknow is known more for politics than business. Also in terms of reputation XLRI is at par with the top IIMs (A/B/C). On the other hand IIML will not only cost you less has will give you the IIM tag.

FMS Vs JBIMS: Both of them have the ROI factor working for you. Also, while locations of both institutes are good, JBIMS has the advantage of being in the commercial/business capitl of India. Some might choose Mumbai over Delhi while some would choose to go the other way round. Thus, proximity to your hometown and love for the city might be the two important criteria based on which you might want to distinguish between these two.

So the preferred institute between these four has to be a function of your individual preferences. Whichever institute you choose, you will get good education and career opportunities.

#Data used in the article is based on institute website wherever possible. Otherwise the analysis is based on Media Sources.