IIM V/S XLRI: Which Is Better In 2024?, MBA Online, Salary

In the realm of higher education, pursuing a management degree stands as a pivotal choice for many aspiring professionals. Two institutions that have earned a lot of fame in the area of management education in India are the Indian Institutes of Management (IIMs) and the Xavier School of Management (XLRI). These institutions of learning have garnered accolades and respect, both domestically and internationally, for their unwavering commitment to academic excellence and the creation of astute leaders.

The decision to embark on a journey towards a management degree at either an IIM or XLRI is no small feat. It involves a careful consideration of various factors ranging from academic programs, faculty expertise, infrastructure, to industry connections. This blog aims to serve as a compass, guiding prospective students through the labyrinth of choices, providing insights into the strengths and unique attributes of each institution. By the time you reach the end, we hope you will be better equipped to make an informed decision that aligns with your aspirations and career trajectory.

IIM (Indian Institutes of Management) Overview 

Founded in the early 1960s, the Indian Institutes of Management (IIMs) stand as the vanguards of management education in India. Conceived with the vision to nurture leadership and managerial acumen, these institutes were established under the aegis of the Government of India. Since their inception, the IIMs have burgeoned in number, with numerous campuses spanning the length and breadth of the country.

Each IIM is characterised by a unique ethos, yet they all share a common commitment to academic excellence and the cultivation of holistic business leaders. From the bustling metropolitan aura of IIM Ahmedabad to the serene academic environs of IIM Kozhikode, these institutes offer a diverse array of experiences, reflecting the rich cultural mosaic of India itself.

XLRI (Xavier School of Management) Overview 

In the steel city of Jamshedpur, nestled in the eastern part of India, stands the Xavier School of Management (XLRI), an institution that has been a torchbearer of Jesuit education principles since its inception in 1949. Founded by Fr. Quinn Enright, S.J., XLRI was conceived with the aim of imparting management education with a conscience. You May Interested | XLRI Delhi-NCR Campus!

Steeped in a tradition of ethics and social responsibility, XLRI has forged a distinctive path in the realm of business education. It's not only a crucible of business acumen but also a cauldron of socially conscious leaders. With its serene campus and a close-knit community, XLRI offers a unique environment for holistic development.

Difference Between IIM & XLRI 

Following are some of the major differences between IIM and XLRI. These differences will help you choose one of them based on your preferences. 

Aspect	IIM	XLRI
Founding Year	1961 onwards (different campuses)	1949
Specialisations	Diverse range of specialisations	Strong focus on HRM and IR
Academic Programs	Broad spectrum of management disciplines	Flagship PGDM, PGDBM programs
Faculty Expertise	Accomplished faculty with industry experience and research focus	Blend of academic prowess and real-world application
Infrastructure	State-of-the-art facilities, diverse campuses	Modern classrooms, well-stocked library, serene campus
Placement Records	Exceptional placement records, strong industry connections	Impressive placements with a focus on socially responsible organisations
Alumni Network	Extensive global alumni network	Tightly-knit community with a focus on socially conscious leadership
Entrance Exam	CAT	XAT
Admission Process	Rigorous and multifaceted selection process	Demanding selection process emphasising ethical orientation and leadership potential
Fee Structure	Relatively higher fees, potential for high ROI	Significant investment in education with potential for substantial returns
International Exposure	Opportunities for international exposure through exchange programs and collaborations	Similar opportunities for global exposure through various programs
Location	Various campuses across India	Main campus in Jamshedpur, Jharkhand

Academic Programs 

Here is an in-depth look at the academic offerings of both IIM and XLRI. It showcases the breadth and depth of programs available at each institution, allowing prospective students to gauge which aligns more closely with their academic and career interests.

• IIM (Indian Institutes of Management)

The Indian Institutes of Management (IIM) are renowned for their comprehensive array of academic programs. These encompass a spectrum of management disciplines, catering to a wide array of career aspirations. From flagship two-year Post Graduate Programs in Management (PGPM) to specialised courses in areas like finance, marketing, and human resources, IIMs offer a diverse portfolio of programs.

Additionally, many IIMs provide Executive MBA programs tailored for seasoned professionals seeking to augment their leadership skills. This diversity in offerings ensures that students can find a program aligned with their specific interests and career goals.

• XLRI (Xavier School of Management)

XLRI, on the other hand, boasts a focused yet highly esteemed set of programs. Its flagship program, the Post Graduate Diploma in Management (PGDM), is revered for its rigour and relevance in the corporate world. One of the hallmarks of XLRI is its specialised focus on Human Resources Management (HRM) and Industrial Relations (IR), which are considered among the best in the country.

XLRI also offers programs like the Post Graduate Diploma in Business Management (PGDBM) and Executive Development Programs, which cater to different segments of the student community. The institution's steadfast commitment to quality education is evident in the holistic and specialised programs it offers.

Online MBA 

Both IIMs and XLRI are the top notch institutions in India when it comes to an MBA program. They are the best known Indian institutions for a traditional MBA program. However, these institutions do not provide the same 2-year MBA course in the online mode. IIM Raipur is the only institute among these that offers a 2-year MBA program but for working professionals. 

However, both IIMs and XLRI offer a variety of other online management programs designed to cater to professionals and learners seeking to enhance their skills or earn a formal certification. 

Following are some of the top online programs offered by the IIMs and XLRI:

IIM Online Programs	XLRI Online Programs
Online MBA (Only IIM Raipur) ePGP (Executive Post Graduate Program) Advanced Management Program (AMP) Management Development Programs (MDPs) Executive Education Programs  Certificate Programs	Executive Development Program in Human Resource Management  Executive development Program in Talent Acquisition and Management  Post Graduate Certificate in Business Analytics (PGCBA) Post Graduate Certificate in Financial Management (PGCFM) Post Graduate Certificate in Logistics and Supply Chain Management

Faculty & Research

Given below is an insight into the calibre of faculty and research activities at both IIM and XLRI. It highlights how each institution's faculty enriches the learning experience and contributes to the broader body of knowledge in management. 

• IIM (Indian Institutes of Management)

The faculty at IIMs are stalwarts in their respective fields, often bringing a wealth of industry experience and academic expertise to the classroom. These accomplished professors contribute not only to classroom teaching but also to cutting-edge research in various domains of management.

IIMs are known for their vibrant research communities, where faculty members engage in projects that have a substantial impact on the business landscape. This research-driven ethos ensures that students receive the latest insights and are exposed to innovative ideas that shape the future of management practices.

• XLRI (Xavier School of Management)

XLRI prides itself on a faculty that embodies a unique blend of academic prowess and real-world application. The professors at XLRI are not only adept at imparting theoretical knowledge but also excel in bridging the gap between theory and practice.

Moreover, XLRI has made significant contributions to research, particularly in the areas of HRM and IR. The institution encourages an environment of scholarly inquiry, fostering a culture where faculty members and students alike engage in research that addresses contemporary business challenges.

Facilities & Infrastructure 

Here, you get an idea about the physical environments of both IIM and XLRI. It showcases the facilities and amenities that contribute to the overall learning experience.

• IIM (Indian Institutes of Management)

The Indian Institutes of Management are renowned for their state-of-the-art infrastructure. These campuses boast world-class facilities including well-equipped classrooms, modern libraries, cutting-edge computer labs, and recreational spaces. Many IIMs also offer on-campus accommodation, ensuring a conducive learning environment.

Moreover, IIM campuses are designed to foster a sense of community and collaboration. With spaces for group discussions, student clubs, and various extracurricular activities, students have ample opportunities to engage beyond the classroom.

• XLRI (Xavier School of Management)

XLRI, though smaller in scale compared to some IIMs, offers a nurturing environment for holistic development. The campus is characterised by a tranquil setting that facilitates focused learning. The institution provides modern classrooms, a well-stocked library, and advanced computing facilities.

What sets XLRI apart is its tight-knit community. The smaller size allows for more personalised interactions between students and faculty, creating a familial atmosphere. This closeness often leads to enduring friendships and a strong sense of belonging.

Pros & Cons 

The following table provides a balanced overview of the strengths and considerations for both IIM and XLRI. It's important to remember that what might be considered a "pro" for one person could be a "con" for another, depending on individual preferences and career goals. This table can help readers weigh the factors that are most important to them in making their decision.

	IIM	XLRI
Pros	Brand Value and Reputation: IIMs are globally renowned for their rigorous academic programs and esteemed faculty. Wider Network: With multiple campuses across India, IIMs offer a vast alumni network and diverse peer group. Diverse Specialisations: IIMs often provide an extensive range of specialised courses, allowing students to tailor their education to specific career goals. Strong Industry Connections: IIMs have strong ties with leading companies, leading to excellent placement opportunities.	Socially Conscious Education: XLRI places a strong emphasis on ethics and social responsibility, which can be particularly appealing for students with a keen interest in corporate social responsibility. Strong Focus on HR and IR: XLRI is especially well-known for its HR and IR programs, making it an excellent choice for students interested in this field. Close-Knit Community: The smaller size of XLRI compared to some IIMs can lead to a more close-knit and personalised learning experience.
Cons	Intense Competition: Due to their high demand, getting admission to an IIM can be extremely competitive, and the selection process is rigorous. Potentially Higher Fees: The fees for IIM programs can be on the higher side, although the return on investment is often significant.	Location-Specific: XLRI is primarily located in Jamshedpur, which may not be as accessible for students from other parts of India. Niche Specialization: While XLRI excels in certain areas like HR and IR, it may not offer as wide a range of specialised courses as some IIMs.

 

Which is Better- IIM or XLRI? 

Deciding between IIM and XLRI ultimately depends on your individual preferences, career goals, and the specific programs each institution offers. Both IIMs and XLRI are highly reputable and esteemed institutions in India, and both have their own unique strengths.

 

Why Choose IIM	Why Choose XLRI
Diverse Specialisations: If you're looking for a wide array of specialisations and a broad range of programs, IIMs might be the better choice. They offer a comprehensive selection of management disciplines.	Focus on HRM and IR: XLRI is renowned for its Human Resources Management (HRM) and Industrial Relations (IR) programs. If you have a keen interest in HR, XLRI is an excellent choice.
Global Recognition: IIMs have a strong global presence and are recognized internationally. This can be advantageous if you're considering a career abroad.	Ethical Leadership: XLRI places a strong emphasis on ethics and social responsibility, which may align well with your values and career aspirations.
Strong Industry Connections: IIMs have well-established ties with top companies and industries, leading to excellent placement opportunities.	Close-Knit Community: XLRI's smaller size compared to some IIMs can lead to a more personalised and tight-knit learning environment.

 

Placement & Industry Connections 

Here is a detailed look at the placement scenarios and industry ties of both IIM and XLRI. It highlights the strength of each institution in preparing students for successful careers in various sectors. 

• IIM (Indian Institutes of Management)

One of the hallmarks of IIMs is their exceptional placement records. These institutes have forged strong relationships with a wide spectrum of industries, both in India and globally. This robust network translates into a high rate of successful placements for their graduates.

 

The industry connections also mean that IIM students often have access to a diverse range of internships and live projects, allowing them to apply theoretical knowledge in real-world settings. This exposure is invaluable in preparing students for the demands of the corporate world.

• XLRI (Xavier School of Management)

XLRI, much like IIMs, boasts an impressive track record when it comes to placements. The institution's reputation for producing socially conscious leaders resonates with many socially responsible organisations, leading to unique placement opportunities in this niche.

 

Furthermore, XLRI's strong connections with both corporate entities and NGOs allow students to explore a wide range of career paths. The institution's emphasis on ethical business practices attracts organisations that align with these values.

Jobs & Salary 

Salaries after MBA from both IIM and XLRI can vary widely depending on factors like specialisation, industry, location, and individual negotiation skills. On average, graduates from these institutions can expect competitive salaries ranging from INR 15-25 lakhs per annum for domestic placements. However, some graduates, especially those with significant experience or in specialised roles, may command even higher salaries.

Job Role After MBA from IIM	Average Base Salary
Management Consultant	INR 25 LPA
Finance Manager	INR 18 LPA
Product Manager	INR 20 LPA
Marketing Manager	INR 15 LPA
Operations Manager	INR 15 LPA

 

Job Role After MBA from XLRI	Average Salary
HR Manager	INR 25 LPA
Labour Relations Manager	INR 18 LPA
Organisational Development Consultant	INR 15 LPA
Business Analyst	INR 15 LPA
Social Impact Consultant/Manager	INR 12 LPA

 

Alumni Network 

Following is a brief glimpse into the alumni networks and communities at both IIM and XLRI. It highlights how these networks can be invaluable resources for graduates as they embark on their careers. 

• IIM (Indian Institutes of Management)

The Indian Institutes of Management have nurtured a sprawling network of alumni who have gone on to make significant contributions in diverse fields. This extensive network spans the globe, and IIM graduates often find themselves part of a community that opens doors to a multitude of opportunities.

The alumni community is not only a professional network but also a source of mentorship and guidance for current students. Many IIMs actively foster interactions between alumni and students, creating a culture of continuous learning and growth.

• XLRI (Xavier School of Management)

XLRI's alumni network, though smaller in comparison to some IIMs, is tightly knit and highly influential. Graduates of XLRI have made substantial contributions to various sectors, particularly in the domains of HR and social responsibility.

The close-knit community at XLRI translates into enduring relationships among alumni, faculty, and current students. This sense of camaraderie often leads to a strong support system for XLRI graduates as they navigate their professional journeys.

Admission Process 

• IIM (Indian Institutes of Management)

Securing admission to an Indian Institute of Management is a formidable challenge. The selection process is rigorous and multifaceted, often involving a combination of written tests, group discussions, personal interviews, and academic records. Additionally, some IIMs may consider factors like work experience and extracurricular achievements.

The admission process for Indian Institutes of Management (IIMs) follows a structured and competitive procedure. Here are the general steps for admission to IIMs:

Step 1- CAT (Common Admission Test) Registration

• Visit the official CAT website during the registration period, typically in August.
• Create an account or log in if you already have one.
• Fill out the application form with accurate personal, academic, and contact information.

Step 2- CAT Exam

• Register and appear for the CAT exam, typically held in November/December. CAT assesses candidates on sections like Quantitative Aptitude, Verbal Ability, Data Interpretation, and Logical Reasoning.

Step 3- CAT Scores

• Once the CAT results are announced, you will receive your scores. The scores are used by IIMs for shortlisting candidates.

Step 4- Shortlisting for WAT-GD-PI

• Based on CAT scores, IIMs will shortlist candidates for the Written Ability Test (WAT), Group Discussion (GD), and Personal Interview (PI) round.

Step 5- Written Ability Test (WAT)

• Some IIMs include a Written Ability Test as part of the evaluation process. This assesses your writing skills and ability to articulate ideas.

Step 6- Group Discussion and Personal Interview

• If shortlisted, you will be invited for a GD and PI session. These sessions evaluate your communication skills, analytical thinking, and knowledge of current affairs.

Step 7- Final Selection

• The final selection is based on a composite score that includes your CAT score, performance in GD-PI, WAT (if applicable), and possibly other factors like academic performance and work experience.

Step 8- Offer of Admission

• If selected, you will receive an official offer of admission from the respective IIM.

Step 9- Acceptance of Admission Offer

• If you choose to accept the offer, follow the instructions provided by the IIM for confirmation of admission.

Step 10- Payment of Fees

• Pay the requisite fees for the program as per the provided schedule.

It is imperative for prospective students to meticulously prepare for the entrance exams and showcase their aptitude, leadership potential, and academic prowess throughout the application process.

• XLRI (Xavier School of Management)

XLRI's admission process is similarly demanding, designed to select candidates who not only exhibit academic excellence but also align with the institution's ethos of ethical leadership. The process typically includes a written test, group discussion, personal interview, and review of academic performance.

The admission process to XLRI typically involves several stages. Here are the steps for the admission procedure to XLRI:

Step 1- Registration and Application

• Visit the official XLRI website during the admission season.
• Create an account or log in if you already have one.
• Fill out the application form with accurate personal, academic, and contact information.

Step 2- Selecting the Program

• Choose the program you wish to apply for (e.g., PGDM, PGDBM, etc.) based on your career goals and interests.

Step 3- Payment of Application Fee

• Pay the application fee online through the provided payment gateway. Keep the payment confirmation for future reference.

Step 4- XAT (Xavier Aptitude Test) or GMAT/GRE

• XLRI accepts scores from either XAT, GMAT, or GRE exams.
• If you're applying with XAT scores, register and appear for the XAT exam, typically held in January.

Step 5- Shortlisting for GD-PI

• Based on your scores, XLRI will shortlist candidates for the Group Discussion (GD) and Personal Interview (PI) round.

Step 6- Group Discussion and Personal Interview

• If shortlisted, you will be invited for a GD and PI session. These sessions evaluate your communication skills, analytical thinking, and knowledge of current affairs.

Step 7- Written Ability Test (WAT)

• Some programs at XLRI may include a Written Ability Test as part of the evaluation process. This assesses your writing skills and ability to articulate ideas.

Step 8- Final Selection

• The final selection is based on a composite score that includes your XAT/GMAT/GRE score, performance in GD-PI, and possibly WAT.

Step 9- Offer of Admission

• If selected, you will receive an official offer of admission from XLRI.
• If you choose to accept the offer, follow the instructions provided by XLRI for confirmation of admission.

Step 10- Payment of Fees

• Pay the requisite fees for the program as per the provided schedule.

In addition to academic achievements, XLRI places a strong emphasis on qualities like ethical orientation, social sensitivity, and leadership potential. Prospective students should be prepared to demonstrate these attributes during the selection process.

Fee Structure

• IIM (Indian Institutes of Management)

Attending an IIM is undoubtedly an investment in one's future. The fees for IIM programs can vary depending on the campus and the specific program. The average fee of an MBA program from IIM is INR 18-25 lakhs for the complete 2-year program. 

While it is true that IIMs can have a relatively higher fee structure, many students find the return on investment to be substantial, given the exceptional quality of education and the lucrative career opportunities that often follow.

Additionally, some IIMs offer scholarships and financial aid programs to support deserving students, making it possible for a wider range of individuals to pursue their management education.

• XLRI (Xavier School of Management)

XLRI, much like IIMs, represents a significant investment in one's education and future career. The average fee of the MBA program is INR 20-27 lakhs for the complete course. The fees for programs at XLRI are typically structured to cover the cost of the high-quality education and resources provided by the institution.

XLRI also offers scholarships and financial aid opportunities to eligible students. These provisions aim to ensure that financial considerations do not become a barrier for deserving candidates seeking admission to the institution.

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Conclusion 

As you stand at the crossroads of this momentous decision, it's essential to recognize that both the Indian Institutes of Management (IIMs) and the Xavier School of Management (XLRI) are beacons of excellence in the field of management education. Each institution carries its own unique legacy, values, and strengths.

The choice between IIM and XLRI ultimately hinges on your individual aspirations, preferences, and career trajectory. Consider what aspects resonate most with you: the wide array of programs and global recognition offered by IIM, or the socially conscious ethos and specialised focus on HR and IR at XLRI.

Remember, there is no one-size-fits-all answer. What matters most is finding the institution that aligns most closely with your goals and values. Take the time to reflect on your own aspirations, explore the offerings of each institution, and, if possible, engage with alumni and current students to gain further insights.

Rest assured, whether you choose to embark on your management journey at an IIM or XLRI, you are setting forth on a path that promises not only academic rigour but also the opportunity to be part of a dynamic and influential community of business leaders.