Welcome to MBAGuru, a name which is now synonymous to 'Personalized Mentoring'. MBAGuru offers world-class comprehensive preparation services for entrance examinations of leading B-Schools in India and abroad. Formed by graduates from leading institutes in India (IIM-A, IIM-C, IIT Delhi) and abroad (The Wharton School), the institute has re-written the rules of coaching industry by continuously innovating and bringing state-of-the-art teaching methodologies within the reach of MBA aspirants.

B-school choices: Too few or too many

Every year, over 2 lakh candidates appear in CAT and other allied entrance exams. Few of them get a seat in the top 15-20 colleges, but for the rest of them, the admission to a B-school of their choice remains a perennial dream. At some point, it becomes a Hobson’s choice for some of them. Every business school is a little bit different, and choosing the right one for you can be an in-depth process that requires prospective students to consider a variety of factors. Discussed below are the factors to be considered while choosing a B-school and how to map your expectations against these.

FACTORS TO BE CONSIDERED WHILE CHOOSING A B-SCHOOL

Perhaps, one of the most important things to consider while choosing an MBA program is to understand what you expect to get out of it once you’ve completed the program. Through a drilldown of your intended career map, you can actually figure out whether pursuing an MBA will give you the experience and skills you need to reach your goals you had aimed for or not. After getting a positive answer, you should then consider if you are interested in certain specific sectors, which in turn will depend on your current field of study OR understanding whether a management degree having general functions common to all business segments (Marketing, Finance, HR etc) will be sufficient for you. You should then consider the following factors while looking for a B-school.

  1. Degree: The degree offered by the B-school should match your preference. The various programs available for aspirants are given below:

Two-year full-time programme; 1 year full-time programme; 3-year part-time programme; Full-time Executive programme for working professionals ranging from 15 to 18 months; Short term Executive Development Programme (EDP) lasting anywhere between 7 and 13 weeks; Phd. Programme The degree has to be recognized by AICTE and the institute has to be approved by UGC and AIU (Association of Indian Universities).

  1. Cost: Cost plays a very important role in your selection of a particular B-school. Please enquire whether the business school has tie-ups with any bank for education loan or not. A tie-up with a nationalized bank would be a better option. In cases of unrecognized institutes, the bank may still provide a loan if the student is able to furnish adequate collateral.
  2. Curriculum: If you are interested in a particular sector, please go through the course structure of that sector. You should also go through colleges, which have good reputation in specific fields. It is important to consider the amount of real world experience you will get through your sectoral preferences. Some offer internships and networking opportunities while others are geared towards those who have already been working. The curriculum is designed accordingly.
  3. Quality of Faculty and students: A vital factor that distinguishes an institute is the quality of the faculty members. Generally, B-Schools have a mix of full-time and part-time faculty members. It is essential for any good institute to have that optimal mix. Almost all institutes have detailed profiles of their faculty members, their educational background, industry links, research and teaching experience on their website. The full-time faculty team provides stabilizing factor that is needed over the two-year period. The part-time faculty team gives students the external exposure and access to live projects. One way of getting to know the quality of the faculty team at these institutes is to speak to those students already studying at the institute. Generally, students give a genuine picture about the quality of the faculty members.

The best B-schools are those where one interacts with the best students. Good students always study in a good institute. A great peer group steepens the learning curve of a student. Much of the learning that takes place at any B-School is on account of the group activities like group work and group projects. Hence, if the students are brighter, the learning experience gets richer. The quality of the selection process adopted by the B-school gives you an idea about the quality of the students it admits. As a general rule, students should generally favour a residential programme rather than commuting each day, to enhance the peer-to-peer interaction.

  1. Placements: All tall claims of 100% placement SHOULD NOT BE TAKEN at face value, but should be scrutinized thoroughly through various information channels, mainly interactive forums on the internet. Most, if not all, of these forums always give an impartial view. You can also enquire about such claims from the students currently studying at these institutes. Most business schools will willingly supply placement statistics to interested applicants. Checking recruiter records and speaking with former graduates of the school will also give you further insight. The kind of salaries offered by institutes will prove to be an important factor. Please don’t consider the average salary but the MEDIAN salary while browsing through the placement records. Also consider this figure across specializations (mainly the ones that you desire) and not only on the overall figure.

An important factor that most students miss is the average number of offers that each student gets at these schools. The IIMs and other top institutes have an average of 2-3 offers per student, which drops to one offer as one goes down through the ratings list. What this parameter indicates is the huge amount of choice that a student typically has in terms of companies and the jobs being offered at top B-Schools.

  1. Reputation: Good B-schools don’t advertise too much, while the lesser ones rely on these channels PROMINENTLY to spread themselves. However, students should not be too unwilling to join the newer institutes, if they are established under the aegis of a very big brand institute. A very relevant example is the newer IIMs. Ultimately brand does matter; hence, too many doubts should not be cast on the quality, which, rest assured, is not compromised at these institutes.
  2. Infrastructure and Location: One of the most essential things for an institute to function satisfactorily is the availability of necessary infrastructure. A student should necessarily give preference to library and Internet facilities while evaluating the institute on infrastructural grounds. They should not get too carried away by the other tertiary facilities offered (Laptops, foreign tours etc). In some cases, the institutes have very good infrastructural facilities but little in terms of other factors. At the end of the day, human resource is the critical differentiating factor that these institutes are unable to meet.

Finally, for those who are thinking whether to do an MBA after having some work experience or not, you have to understand that it is not a simple decision. For freshers having an undergraduate degree from a very good college and with good results have an upper edge in the GP/PI phase of selection. Otherwise, some work experience is desirable, if not mandatory. For those who are working, consider whether or not you would be able to quit your job if the program required you to (necessary for a 2 yr program and but can be optional for 1 yr-program at ISB) and still support yourself financially. It’s going to take up a lot of your time and money, and can have a big impact on your lifestyle. Giving time to both, work and B-school, can have an impact on your family and personal life as well, hence make sure you have explored all your options and weighed the pros and cons before committing to a program or B-school.

Best wishes for this critical decision!

- DIPAK MISHRA

Dipak is an MBA from the prestigious IISWBM, Kolkotta – India’s Oldest B-School founded in 1953, and the home of learning for many a distinguished business leader. A QA faculty at MBAGuru, India’s fastest growing CAT Coaching Institute, Dipak is immensely popular among the students as much for his QA fundae as for his affable nature. At MBAGuru, Delhi, Dipak also is a designated mentor for students seeking help with institute application forms and guidance. 



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