Research Methodology

The objective of this research is to arrive at a list of top business schools offering full time management courses - including two-year courses in India. The research had 3 major modules i.e. Desk Research, Factual survey & Perceptual Rating survey. Post collection of data a methodical analysis was done to rate the various B schools that participated in the study and rank them accordingly.

The survey was executed during 1st week of December 2021 to 1st week of February 2022.

The ranking process in the current year, imbibed a holistic research module involving both factual and perceptual data/ informations. While the factual is done to capture a true reflection of what exists, the perceptual on the other hand is deemed important to comprehend how the different stakeholders perceive for different B schools. Thus, these two modules in methodology help to make the ranking process more robust.


In order to get robust data, the study was completed in the following phases –


Secondary Desk research

The first module was secondary research. Using various sources like the internet, magazines and publications, a comprehensive list of B-schools generated. The following sources used for the same –
  • List of ranked institutions from previous surveys
  • Secondary review of published information across various sources
  • Inputs/ suggestions on names obtained during conducting the study
Diligent attempts were made to ensure that a comprehensive list of B-Schools was derived at. In order to achieve the same, we had the option of adding any new school name in the survey form if any respondent, during the perceptual survey mentioned any school name outside our list. Once in effect, this ensured that every B- School had a chance of getting covered in the survey if the respondents mentioned their name.

In totality, a list of more than 1000 B-Schools along with their contact details was generated.


Factual Data Collection

The second module was factual data collection. It was done in order to understand the actual condition of B Schools on different parameters, their infrastructure and the facilities they provided. The following information areas were captured –
  • Selection Process
  • Affiliation/ accreditations / collaboration
  • Learning Components
  • Curriculum
  • Faculty
  • Pedagogy
  • Future Orientation
  • Global exposure
  • Industry Interface - Interaction/ live projects/ corporate internship
  • Potential to network/ alumni outreach
  • Infrastructure and living experience
  • Facilities provided
  • Extracurricular activities
  • Fee structure
  • Placements
A dedicated team under the direct supervision of senior researchers on job. Their tasks entailed sending regular emails and rigorous follow-ups in the form of telephonic calls for timely participation and achieving completeness of information.


Perception Data Collection

In this Module, a strucutred Questionnaire was administered to selected respondents including faculty, alumni, parents and students to arrive a a ranking and rating of B Schools/ Institutes. The sample selection was done using convenience , referal and snowball sampling method though the sample was spread out geographically to get better representation.

More than 1500 sample survey was conducted across cities.

The following key parameters were covered in Perceptual Rating
  • Infrastructure
  • Faculty
  • Course Curriculum
  • Industry Interaction
  • Pedagogy
  • Research Orientations & focus
  • Global Exposure
  • Placement
  • Value for Money
  • Overall Brand Value

Analysis: Final Ranking of B School/institutes

A robust approach was followed to arrive at the final rankings. The systematic process is given below:

Factual Score

  • The information collected corresponded to similar parameters as in the perceptual survey
  • A detailed scoring system was developed for each parameter
  • The raw scores were weighted by their importance to arrive at weighted scores

Perceptual Score

  • Ratings on various parameters
  • Calculating importance of various parameters to arrive at weights for each parameter
    – we used 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 college/ institute using importance weightages.

The final rank calculated for all those B School/institutes who had shared the factual data.

Also, the list of top 20 institutes who scored high in Perceptual (but did not submit factual) were listed in an alphabetical order.

Some Caveats

  • Only those colleges / institutes who participated in the Factual Survey have ranked in all modules.
  • If the GAP between institutes found very low, both institutes awarded same rank.
  • Best efforts were made to reach maximum B- School’s and their participation was called for
  • Total 212 B - schools participated and shared the desired information with us.
  • The B- Schools that did not send complete “Fact-Sheet” within the allotted time were listed separately based on perception scores
  • The schools who have not shared the factual questionnaire and have explicitly stated their unwillingness to participate in the ranking survey have excluded from this 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.
  • Institutes government funded/ getting grants is considered as Government Institute
  • The represented rankings are based on shared information. Avance Insights undertook reasonable measures to get complete and accurate information. However, any lapse or concealment of information or any part thereof that would have influenced results in any way is beyond the control of Avance Insights. Hence, we assume no responsibility towards the said.

  • Note- Present survey has conducted by an independent Research Agency named Avance Insights Pvt. Ltd using stated methodology for arriving at given results