Cradle of CEOs
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- Published 28.11.13
For management students, a visit to the nondescript red building housing the Jamnalal Bajaj Institute of Management Studies (JBIMS) at Mumbai's H.T. Parekh Marg — a stone's throw from India's commercial hub Nariman Point — is a pilgrimage of sorts. The 48-year-old institute, established in 1965 in collaboration with the Graduate School of Business, Stanford University, in US, has produced some of the country's best business brains.
No wonder that Jyotirmoy Mukherjee was over the moon when he bagged a seat at JBIMS. "It was a dream come true for me. I always thought that if one has to study management one should do it at India's financial capital, Mumbai, where the corporate headquarters of several leading Indian companies and multinational corporations are located. So when I got a call from JBIMS, my joy knew no bounds. Also, JBIMS is one of the top B-schools in the country and the best in Mumbai," says Mukherjee, who completed engineering from the Institute of Engineering and Management, Calcutta.
The location of the institute is the icing on the cake. "It is like being at the centre of activity and a witness to the goings on in the world of business," observes Mukherjee.
"That's a distinct advantage we enjoy," notes Stephen D'Silva, reader, JBIMS. "Whenever we request chief executive officers and other top company officials to give guest lectures or to attend a conference, they find it convenient to visit because our institute is located bang in the middle of the business district. It is another matter that most of the top honchos are also our alumni," he says.
Among the noted JBIMS alumni are Harish Manwani, chairman, and Nitin Paranjpe, managing director and chief executive officer of Hindustan Unilever Limited; Chanda Kochhar, managing director and chief executive of ICICI Bank; Uday Kotak, vice-chairman and managing director of the Kotak Mahindra Bank; Ajay Piramal, chairman, Piramal Enterprises; Siddharth Roy Kapur, CEO, UTV Motion Pictures; and Noshir Kaka, managing director, McKinsey. No wonder that the institute is referred to as the "CEO factory" in business circles.
An important factor that sets JBIMS apart from the other institutes is its faculty members with their rich industry expertise. "The faculty comprises largely practising professionals who not only bring to the classroom theoretical knowledge but also acquaint students with real life scenarios and applications. This provides students with a thorough understanding of managerial concepts. The students not only learn theory but also get a glimpse of what's happening on the corporate front. Also, the numerous guest lectures conducted by business leaders from around the globe help students in handling real life business challenges. The apt blend of in-house and visiting faculty members form the strong foundation of this institute," says Kavita Laghate, the director.
The institute's flagship course is the master of management studies (MMS) programme It recently introduced an MSc (finance) programme. The course is expected to provide employment opportunities for candidates in investment banks, broking firms, private equity entities, insurance companies, credit rating agencies, portfolio management services and venture capital entities. JBIMS also offers several part-time programmes such as master of marketing management (MMM), master of human resource development and management (MHRDM), master of finance management (MFM) and master of information management (MIM). The institute also offers a PhD programme.
Admission to the MMS course is through a centralised admission process conducted by the Directorate of Technical Education (DTE) every year. Students are selected on the basis of scores in the Common Admission Test (CAT), Common Management Admission Test (CMAT) or any other entrance exam accepted by DTE, group discussion and personal interview. Unlike other management institutes, JBIMS places a great deal of importance on research. Papers written by faculty members have appeared in distinguished publications such as the Indian Journal of Applied Research and International Journal of Technology Marketing. JBIMS also organises research-based events such as Strategym and International Research Conference to encourage research activities among students.
Besides, the institute helps students to run clubs in the spheres of marketing, consulting and finance. These clubs, which function under the guidance of faculty members, facilitate students with various tools to secure careers in the field of marketing, strategic consulting and finance. JBIMS students have also excelled in various B-school events across the country. The students recently triumphed at Munijan, a Mumbai University initiative to commemorate the values and ethos promoted by Mahatma Gandhi, wherein they came up with a solution to tackle the low level of school education. The state government accepted their ideas, which will be implemented next year.
Life in the institute is pretty hectic. Classes normally begin as early as 7am and go on till as late as 10pm. "There are assignments, projects, extempore presentations and quizzes to keep you on your toes," says Ekinath Khedekar of the 2011 batch.
Needless to say, such academic rigour has resulted in 100 per cent placement over the years. This year, the average salary offered was Rs 15.32 lakh per annum. The highest salary was Rs 26 lakh per annum. The summer placements season this year was a runaway success with 100 per cent placement in record time with Rs 2 lakh being the highest stipend offered. "This is another reason JBIMS scores over other institutes," points out Mukherjee. "The return on investment at JBIMS is quite high. Being a government-run institute, the fees are pegged very low at Rs 2 lakh for the entire duration of the flagship programme," he adds.
The institute is now looking ahead to celebrating its golden jubilee in 2015. It plans to mark the occasion with a combination of institution-level events and alumni engagements.
JAMNALAL BAJAJ INSTITUTE OF MANAGEMENT STUDIES
Churchgate, near Nariman Point in Mumbai
Kavita Laghate is the director
Two-year master of management studies (MMS)
Exceptional faculty members, very low fees, star-studded alumni
Small campus, no hostel of its own