Loads of questions being thrown around about calls. Well I had a question for the FPM Puys who are enrolled. PhD in the US or Europe VS PhD / FPM in India is a long drawn debate. But if you had a choice which one would you take. This is assuming that we are talking about only top schools in both locations.
This is going to be long post as I have time ... My students are on a day long mass bunk...
@Adymos It is my first attempt at FPM/PhD rounds and I am without any scores. So I have only applied to IIM-B as of now and looking forward towards IGIDR and IFMR admissions too. Needless to say this year I am just testing the waters and see if anything comes out of it. I am also regular visitor of Gradcafe and GmatClub forums. This is what I have discerned from all the research I have done on India vs Foreign PhD--
1. Getting into top places in India (IIMs, IITs, XLRI) is tough but getting into PhD of top foreign University (Harvard, NYU, INSEAD, top 10-35 global ranking) is a different ball game altogether. For quant heavy disciplines like finance, economics, decision sciences etc. entry requirements are killing. Not only do you need to be on the top of your cohort (academically brilliant), apart from stellar GMAT scores (700+), mathematics pre requisites are astronomical- the kind of mathematics that is taught only in Msc Maths/Stats/Econometrics courses under the Indian education system. I do not have much info regarding other fields of management.
2. The empirical research output (and by that I mean cutting edge, path breaking research output that expands the field, not the replicative studies and long winding literature reviews that 80% of Indian research is all about) of even 75-100 ranked global universities far outstrips some of the IIMs. When it comes to top tiered journal publications, faculties of IITs/DSE/ISI rule the roost, IITs on the technical side and DSE/ISI in journals like Economic Review, Econometrica, Journal of Quantitative Finance etc. I am not saying that faculties of IIMs do not publish in top jounals- they do, but their output is low. One counter argument to this might be that IIMs are concerned about more India- centric research and consultancy and publications in international journals are a secondary consideration and Indian Management journals are full of IIM/XLRI research. Yes, I do agree to this and IIMs are doing this with a lot of success. But to be globally recognized as thought centers of modern management, IIMs need to break down the shibboleths and publish some top of the line empirical research in different verticals of management.
So given my situation- no liability/family responsibilities/kids etc etc, I would gladly choose a Top 50 PhD and if I am compelled to stay in India, IIMs would be my option.
PS: This is simply my personal opinion and I could be wrong (democratic right ). This is in no way an affront to the seniors who are pursuing doctoral studies at IIMs as I have the utmost regards for them. They have cracked IIM selection rounds whereas I am still an armchair strategist. This is only 2paise on the debate between Indian FPM/PhD vs Foreign PhD.
@horsehead haha...not bad!! ...well, yeah -- preferences & perspectives vary, and they even change over time...so, an individual needs to introspect well before he finally picks one out of the two -- FPM/PhD & PhD abroad.
"given my situation- no liability/family responsibilities/kids etc etc" -- same here I would say, yet I didn't move out for other personal reasons...datz life!!
@horsehead Well written. I would just like to point out one thing. It is a myth that India-centric work doesn't get published in top tier journals. For example, Prof Rohit Varman at IIMC has India centric work in top tier journals.
These profs have India centric work published in top journals like JCR, JM, JPSP, Psych Sc etc. And there are many such people. So if the work is good, it doesn't matter whether it is done in India or US!
@@horsehead : Heyy...loved reading your post. Its true that the entry requirements are killing for some of the best B Schools abroad...as usual, their emphasis is squarely on maths and quant courses. I am also inclined to agree that the publishing record of IIMs is not as stellar.
However, "given my situation- no liability/family responsibilities/kids etc etc, I would gladly choose a Top 50 PhD" seems like a good idea, but I'ld like to point out that you are overlooking the benefits gained from studying locally. Assuming you would like to work in India (which is pretty standard becoz all top firms are here), wont a degree from IIM be more recognised and helpful given their spectacular alumni network rather than a degree from...say Georgia? I mean unless its Harvard or Ivy-League, I think it makes sense to aim for top places in the place where you ultimately want a job.