School of Management Studies, ICFAI University, Sikkim

Overview

The School of Management Studies, ICFAI University, Sikkim, is a highly reputed Business School located in Gangtok. It is home to undergraduate and postgraduate programs in Management, and aims to train ethical professionals who are industry ready as soon as they graduate. It is a Member of the Association of Commonwealth Universities, and is accredited by the AICTE.

The School of Management has recently improved the placement performance of its MBA students, with the highest CTC in the most recent placement season for which data is available (2022) setting at INR 5 LPA, showing 18% year-on-year growth over the 2020 equivalent number (INR 3.6 LPA). Prominent recruiters include Decathlon, Toshiba, Tata Motors, Suzuki, Adani Group, Accenture, ABB, Godrej, HSBC, and Blue Star. The Counseling and Placement Wing is a team of full time industry experts who ensure that students are adequately trained for the placement season, and works with companies to organize placement talks, summer internship drives, and final interviews.

The School of Management Studies is located in the 6.5 acre ICFAI University campus. Students can take advantage of the cultural and sports facilities on campus, which are shared with all the other student clubs from the five Schools of the University.

Highlights

Fees

The academic fees for various programs offered by ICFAI University, Sikkim, have four components:

• MBA:
  • Program (tuition) fee: Varies based on the domicile and seat status:
    • Government Quota students: INR 48,500 per semester.
    • Sikkim Domicile: INR 68,000 per semester.
    • Non-Domicile students: INR 97,000 per semester.
  • Examination fee: INR 2,000 per semester.
  • Admission fee: INR 3,000 (one time; payable at the time of academic registration.
  • Caution Deposit: INR 5,000; refundable at the time of graduation, adjusted for any outstanding dues.
• The UG programs have the same examination, admission, and security fees as for MBA students. The program fees differ.
• BBA: The three tiers of program fees are:
  • Government Quota students: INR 18,500 per semester.
  • Sikkim Domicile: INR 25,500 per semester.
  • Non-Domicile students: INR 36,500 per semester.
• BCom:
  • Government Quota students: INR 14,000 per semester.
  • Sikkim Domicile: INR 19,500 per semester.
  • Non-Domicile students: INR 28,000 per semester.

ICFAI University, Sikkim, does not have hostel facilities on campus. However, it has affiliated hostels located close by, which can be used by both male and female students. Therefore, both UG and PG students of the University must budget for living costs, including the monthly rent, transport to the campus, food costs, and shopping for personal items.

Admissions

The eligibility criteria for admission to ICFAI University, Sikkim, are as follows:

• MBA:
  • The student should hold an undergraduate degree in any discipline with a minimum three years’ duration.
  • The aggregate performance during all years of the UG degree must exceed 50%.
  • Students in the final year of a Bachelor’s degree may also apply, provided that they submit all their transcripts before joining the MBA program.
  • Scores in the MAT and ATMA entrance examinations have a positive impact, though it is not compulsory.
• BBA and BCom:
  • The candidate must have a Standard XII Examination pass certificate from any recognized Board of Higher Secondary Education.
  • The aggregate in the four best subjects in the Board Examination must be at least 50%.

The application procedure has the following steps:

• Filling up the application form: This must be filled in capital letters only, and only accurate information must be provided, before signing the form.
• Students must attach documents relevant to their academic history (certificates and transcripts), and entrance test scores, if relevant. Applicants should retain a photocopy of the form for future reference.
• The application fee of INR 3,000 should be paid by Demand Draft.
• Self-attested copies of the birth certificate must also be submitted to the Admissions Office, IU Sikkim.
• Finally, the Admissions Office will release the merit list well before the start of classes, and students must indicate their acceptance by paying the first semester’s fees.

Placements

As one of the top MBA colleges in India, the placement highlights  of ICFAI University, Sikkim (School of Management) are as follows: 

• The median CTC offered to graduating MBA students in the most recent year for which placement data is available (2022) was INR 5 LPA. This represented a substantial increase over the previous two years: INR 3.6 LPA and INR 4 LPA respectively.
• In 2022, 60 out of 90 students in the graduating MBA batch were placed; this 67% placement rate would be higher after accounting for students who chose not to enter the placement process for entrepreneurial or family business reasons.
• The Counseling and Placement Wing of ICFAI University, Sikkim, works with students of the School of Management throughout the year to ensure complete placement readiness, through workshops, soft skills training, mock interviews, and practice tests.
• Several blue chip MNCs recruit BBA and MBA students from ICFAI University, Sikkim, including Toshiba, Hitachi, Samsung, Reliance Industries Limited, Cairn, Futures First, Directi, and Suzuki.
• All BBA and MBA students are expected to complete industry internships before the start of their final year; however, the Placement Cell does not provide additional support for this, and students are expected to find internships on their own. However, the good relations of the University with prominent recruiters can be leveraged by students while applying.
• IU Sikkim conducts Industry Academia seminars throughout the year to enable students to understand the expectations of recruiters.

Cut-Offs

For applicants to the MBA program at ICFAI University, Sikkim, at least 50% is needed as aggregate across all UG semesters. For BBA applicants, the Standard XII aggregate must exceed 50%. There is no cut-off announced ahead of time based on the MAT or ATMA entrance test performance, since this is not compulsory for all students.

Faculty & Alumni

ICFAI University, Sikkim is home to 14 full time Faculty members teaching MBA and BBA students. Out of these, one is an Associate Professor, 12 are Assistant Professors, and one is a Lecturer (there are no full Professors in the School of Management). They are highly qualified, and their degrees cover the whole business spectrum from MBA to PhD in Management to UGC NET.

The Alumni Society of IU Sikkim was established to allow graduates of the School of Management to reap the benefits of professional networking, through year-round access to seminars, workshops, conferences, and local chapter events. All alumni are required to join the Society. In addition to its distinguished alumni in different fields of business leadership, IU Sikkim has also awarded honorary doctorates to prominent personalities like ex-Presidents and Chief Justices of India, thereby ensuring further networking opportunities for current students and alumni. IU Sikkim alumni can also stay in touch with graduates of other ICFAI University campuses, including Mumbai, Jaipur, and Hyderabad.

Scholarships

As in other top MBA colleges in India, there are multiple financial aid options available to students of ICFAI University, Sikkim. There are two main scholarship schemes:

1. Academic Scholarships based on Details Submitted at the time of Application: This is awarded to BBA, BCom, and MBA students of IU Sikkim based on their performance in the qualifying examination. It is awarded throughout the chosen course of study in two equal installments in the first two semesters of study. The scholarship amounts are:

• Standard XII Board Examination (or UG) aggregate greater than 90%: 75% tuition fee scholarship.
• Aggregate between 80% and 90%: 60%.
• Aggregate between 70% and 80%: 50%.

2. Merit Scholarships based on Semester Performance (after joining): Up to 10% of students in any batch can be awarded scholarships based on semester GPA. Students who have received the past academic performance scholarship are also eligible for this award, which is given in three categories.

• Category I: CGPA greater than 9.0: 30% tuition fee waiver.
• Category II: CGPA between 8.5 and 9.0: 22%.
• Category III: CGPA between 8.0 and 8.5: 15% scholarship.

Students joining through the Government Quota receive an implicit 50% scholarship as their tuition fees are lower than other students of IU Sikkim. Some key statistics relating to number of MBA students receiving scholarships are:

• 23 students receive 100% tuition fee waivers via various Central and State Government schemes.
• 10 students receive full tuition fee reimbursements through University scholarship schemes.

Preparation & FAQs

A differentiating factor in the application process for the MBA program at IU Sikkim is the entrance test performance (even though this is not compulsory). MAT or ATMA test the following skills: quantitative techniques, data interpretation, data adequacy, vocabulary, analytical reasoning and reading comprehension. Most students choose to attend classes for their chosen entrance test, in addition to working out sample papers and mock examinations.

Frequently Asked Questions (FAQs)

Q. Which is the best Business School in Gangtok?

ICFAI University, Sikkim, is one of the best MBA colleges in India, and is a contender for best Business School in Gangtok. It is ranked #57 among all Private Business Schools in India, according to the IIRF 2024 ranking list.

Q. Which specializations are available to MBA students of ICFAI University, Sikkim?

MBA students of IU Sikkim can choose courses from up to two of the following five specializations: Marketing, Finance, Banking, Human Resource Management, and System Management.

Q. What special facilities are provided to students who join the BBA or MBA program at ICFAI University, Sikkim, through the Government Quota?

Students who join IU Sikkim via the Government Quota receive a 50% reduction in tuition fees.

Q. What admission reservation is provided to BBA and MBA students of IU Sikkim who are from the state of Sikkim?

Students whose permanent domicile is in the state of Sikkim have at least 25% of the seats in each course of IU SIkkim reserved for them; this percentage can go up if open category applicants are not enough to fill up the remaining seats.