Having been through the CAT exam and IIM admission processes to finally studying in a new IIM, I would like to share my perspective on this topic.
You must have seen aspirants going gaga over IIM A/B/C, but have you ever seen any aspirant taking CAT with a dream of getting into any new IIM? No, right? This is the difference. Old IIMs are way bigger brands than the new IIMs. And that also explains why they are the coveted ones among the IIM clan.
The older the IIM, the bigger the alumni base. That’s why old IIMs have a much bigger alumni base as compared to the new IIMs, and that helps students of these institutes in a way that it is relatively easy for them to find new opportunities by leveraging their rich and diverse alumni network.
I have read some answers on Quora from the students of old IIMs where they speak highly of seasoned professors. And from what I have learned, many professors at old IIMs are very experienced. However, at new IIMs, though professors are highly qualified, they generally do not have the experience of 10–20 years in teaching at the back of them.
The point of utmost importance to every CAT aspirant. Yes, the average CTC of old IIMs is fairly higher than those of the new IIMs. I also talked about this in detail in one of my answers. I will share the link to that answer at the end of this answer.
Students of old IIMs are generally perceived as very smart by the industry as well as the peers. However, I am not sure if this is always true, because a few questions here and there in CAT can change the fate of anyone, and the same goes with the interviews.
At old IIMs, relatively bigger batch strength, a large number of clubs and committees, disputedly better facilities, and hence a relatively better campus life.
After reading the above points, you might be getting a feeling that new IIMs are not worth it, but it is not like that. It is just that new IIMs are new. They are still growing, and it will take them a little more time to come on par with the old IIMs. Having said that, new IIMs are growing at a prodigious rate with a promising potential to come forward as the top b-schools of the country in the years to come.
Lastly, as mentioned above, I have shared in detail my views about the variation of average CTC at old and new IIMs in one of my other answers. You can read it through the following link.