Which college should I join, VGSoM (IIT Kharagpur) or IIM Udaipur considering the IIM tag and ROI (in favor of VGSoM)? I am inclined towards an MBA in marketing.

IIM U is the better choice than IIT Kharagpur, especially if you are going for the specialization of Marketing. If the IIM tag is not the only thing you are looking for in your degree, go through the following points to make the right decision.

The table given below shows a detailed overview of the between IITs and IIMs

The IIMs established in 2008 and later are considered the Young/Second Generation IIMs, while those established in and after 2015 are called new IIMs. The third generation IIMs are IIM Amritsar, IIM Sirmaur, IIM Jammu, IIM Nagpur, IIM Bodh Gaya, IIM Visakhapatnam, IIM Sambalpur. 

Comparison:

• Average CTC- As you will notice from the statistics given, only IIT B, IIT D, and IIT KGP have a better average CTC than the 2nd generation of IIMs.
• Years of Establishment- The 2nd generation IIMs are only 8-9 years old. Whereas the IIT MBA programs are almost 22 years old.
• Batch Strength- Compared to the IIT MBA, the 2nd generation IIMs have a larger batch strength.
• Diverse Peer Group- Other than IIT D and IIT M, none of the IIMs accept Engineers for MBA. Which decreases the diversity in the peer group and in turn peer learning.
• Pedagogy- IIM focuses on teaching by case studies. This is not the case for an IIT MBA. 
• Placements- Placements at IIT for MBA is more focused on Operations/IT/Analytics. For example, 45% of the whole batch at IIT KGP was placed in Operations/IT/Analytics, recently.

The good thing about 2nd generation IIMs is that despite being new, and the higher batch strength, they offer a better average CTC as compared to IITs. It’s true that the reputed IIT has set up their management department quite well. But in the long run the 2nd generation IIMs will offer more advantages over IITs, just because of the IIM tag.