Neha Singh, an engineering graduate from Lucknow, has a spring in her step. Currently a student at the National Institute of Industrial Engineering (NITIE), Mumbai, she has landed a dream job at Hindustan Unilever with an annual pay package of Rs 19 lakh. When she graduates in 2013 and commences work, it will take Singh less than a year to recover the Rs 6.5 lakh fee of her management course, if she is thrifty.
That return on investment (RoI) has made engineering students looking to pick up management skills flock to NITIE. However, admission is not easy. Only engineers with a first class, who are in the 98.5th percentile or above in the IIM common admission test, can hope to enrol in its post graduate courses.
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"The RoI is far higher here. This is one of the reasons why many students opt for NITIE over even IIMs," says Ritika Mittal, who will complete her PG diploma in industrial management next year.
Despite being hiked 15 per cent this year, the course fee is not steep. "At the IIMs, the fees are about Rs 13 lakh. We pay about Rs 6.5 lakh, which includes hostel expenses," says Mittal. And its placement record is strong. In 2012, NITIE recorded 100 per cent placement, with the average annual salary working out to Rs 13 lakh. Amazon, Cognizant
, HUL, ITC, Godrej, and Tata Motors were among the companies that came calling this year. All good reason for NITIE to rise to No. 15 in this year's B-school survey from 43 in 2011.
NITIE was set up in 1963, with the objective of fostering excellence in engineering and manufacturing. It is funded by the central government. Amitabha De, Director In-charge, says the institute hopes to increase its intake from 465 students to 686 by academic year 2014. It also wants to start two new management courses: Project Management and Visionary Leadership for Manufacturing.
The institute is known for its expertise in operations and supply chain management. For instance, the Post Graduate Diploma in Industrial Management delves deeper into these areas while also equipping students with marketing, finance and HR skills.
This combination has made FMCG companies among the biggest recruiters at NITIE. R.K. Sinha, COO, Global Supply Chain and IT, Godrej Consumer Products, says his company fills all its supply chain positions from the institute. Sinha, an NITIE alumnus who graduated in 1980, was himself recruited from NITIE by Godrej Soaps as a management trainee.
The institute has separate placement processes for students with over 20 months' work experience and for freshers and those with work experience of less than 20 months.FULL COVERAGE: India's Best B-schools
Ganesh Natarajan, Vice Chairman and CEO of Zensar Technologies, graduated from NITIE in 1981. "It is the best management programme for engineers. It got me my dream job, at that time, in Crompton Greaves," he says. Natarajan is a member of NITIE's Board of Governors, which comprises eminent personalities from the government, industry and academia. Its Chairman is Gautam Thapar, Chairman and CEO of the Avantha Group.
Members of Smiles, NITIE's photography club, taking shots of Vihar Lake, one of the two lakes surrounding the campus
Part of the 4,500-sq.ft. library
The institute has a teacher-student ratio of 1:20. By the end of this year it hopes to have a faculty advancement fund of Rs 50 lakh in place. It will be used by faculty to undertake training programmes and short-term courses. To encourage research among faculty, NITIE has also put together a seed fund of Rs 25 lakh.
According to De, NITIE, with its background in manufacturing and industry, will have a larger role to play in the coming years. "There will be growing emphasis on manufacturing management as the government looks to increase the share of manufacturing in the gross domestic product from 12 to 25 per cent by 2025. NITIE will have a substantial role to play in this."