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The rising cost of business education is making FMS one of the most preferred schools. In terms of payback period, it beats others hands down. For instance, the total cost of a management degree at FMS 1.89 lakh) is a fraction of that at the Indian Institute of Management, Ahmedabad (Rs 22.62 lakh).
A better bet than many IIMs and other top rated B schools, FMS is going to adopt a different shortlisting criteria than IIMs in admission 2015. FMS is going to declare the shortlist of candidates based on CAT 2014 scores and is going to consider overall percentile instead of giving weightage to sectional percentile for MBA batch 2015-17.
FMS shortlist of candidates for MBA batch 2015-17 would have more than 2500 candidates who are supposed to attend GDPI round 2015 beginning around Feb 2015. An approximate ratio of 1:12 (12 candidates shortlisted for 1 seat) is the expected criteria in shortlisting the candidates for GDPI round.
FMS has an intake of about 220 students in its flagship 2 years full time MBA programme affiliated to Delhi University.
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FMS: Shortlisting criteria 2015
The fact that FMS will accept no other score than CAT 2014 is one truth and that it has criteria much different than IIMs in shortlisting the candidates for GDPI round is another truth. FMS shortlisting criteria can bring smiles to many who have not been shortlisted by IIM A, B, C when they find their names in FMS shortlist.
High CAT Overall and not sectional percentile considered
Unlike IIMs who need high CAT 2014 sectional percentile along with high overall percentile as the criteria to shortlist the candidates for PI round, FMS shortlists the candidates on the basis of high overall percentile. A candidate with 98+ overall percentile can find his name among the shortlisted candidates at FMS admission 2015.
This is the major difference in shortlisting criteria between IIMs and FMS. While IIMs are more concerned on high balanced sectional as well as overall percentile, the major consideration at FMS is overall percentile. The candidates who were not shortlisted by IIMs despite scoring overall percentile of 98-99 in admission 2014, found a place in FMS shortlist in admission session 2014-15.
Similarly, the candidates with high balanced sectional percentile but low overall CAT percentile of 92-96 may find a place in the shortlist of candidates at an IIM but may not find the place in FMS shortlist 2015.
Academic profile: Not to be the base in first shortlist at FMS
IIMs give weightage for good academic profile of a candidate and award marks for a better academic record in a range of 20 to 30 on a scale of 100 in shortlisting the candidates for PI round. However, FMS has no such weighatge to award in shortlisting criteria for final admission round. Candidates for GDPI are supposed to be shortlisted on the basis of overall percentile only. FMS has the simple and straight calculation method to shortlist the candidates i.e. Higher the percentile more are the chances to get shortlisted in FMS.
Work experience and gender diversity: No weightage in shortlisting
No extra marks for work experience and gender diversity will be awarded to shortlist the candidates for GDPI. The freshers and would-be graduates have equal chance of being shortlisted for PI round as other graduates with work experience have. Candidates from very diverse background can make the grade.
FMS is among a few of the top rated B schools who declare the shortlist at the earliest possible. Except for the year 2014 when FMS declared the shortlist a little late, the shortlist at FMS is declared for all the categories in the month of January/February. With the early declaration of result it is expected that the shortlist for PI round 2015 at FMS will be declared very shortly. The entire admission process 2015 at FMS Delhi is expected to be completed in the month of March 2015. FMS is one of the top B schools which is supposed to begin its well organized session before any other management institute.
Why is FMS so affordable?
"Our basic tuition fees have hardly changed since the 1970s," says M.L. Singla, professor at the no-frills institute, housed in the University of Delhi's North Campus. "Being part of Delhi University, we are funded by the University Grants Commission. That's why the fees are highly subsidised."
He adds that FMS does a good job of keeping costs under control. "We don't have lavish infrastructure like others. We share infrastructure with other university departments. With the least resources, we are able to produce equally good MBAs."
With research inputs from Jyotindra Dubey
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