Five steps to select right B-School for you?
When we plan to apply for a MBA programme, we hear people giving us all sort of advice about choosing the B-school. Most of them will normally tell us to get our MBA from the IIMs, or from a top-20 B-school like XLRI, IIFT, FMS, ISB, SP-Jain etc. As an MBA graduate myself, I was faced by a similar dilemma, but was helped by an informed teacher who helped shortlist my choice for me.
It is excellent if we opportunity to study in IIM or other international institutions and we can afford to pay the tuition fees that the IIMs demand.
There is no question that getting an MBA from top-10 B-school would give you tremendous brand value and increase your chances to pursue your dream career. However not everyone can make it to top-10 B-school, or might not be interested to get into one, due to following reasons:
- Low CAT/XAT score, lower grades in UG, less/zero professional experience.
- Not interested in moving out-of-state due to familial issues.
- Cannot afford to pay tuition by oneself, company does not want to pay for one’s MBA, and not wanting to risk taking a big loan in uncertain times.
- Reason for doing MBA do not involve placements, but just learning and exposure to the concepts of Business Administration
If you are looking for a career change, starting your own business, assuming a C- Level role (CEO/CFO/COO/CMO, etc.) of a large organisation sometime in future, and can see yourself leveraging the B-school’s alumni for business and professional growth, then it absolutely makes sense to join top-10 B-school if you can gen an admission and can afford go to one. However, if you are looking at B-School beyond the top-10, the following parameters might help you narrow down your choices:
When we talk about ‘Placements‘ We are not talking about the average salary packages, as such information can be easily manipulated.. Check out the various companies that have visited campus in the past. You can also check out the website of specific companies to see which B-schools they visit frequently. Talk to students from the institute, and visit online forums to understand the real scenario of placements in that institute. Summer internship do play a vital role, so do check out which companies come for these.
It is very important for you to do enough research on the number of full-time and part-time faculty and their credentials. Institutes that are preferred by best faculty are usually better in terms of everything else. Make sure that faculty is well qualified to give you the necessary guidance in the field of management education.
Look into the infrastructure of the college – how many hostels exist for the students, what is the size of library, what the institute provide for recreation as you are supposed to spent two years of your valuable time and a considerable sum of money receiving your degree.
Paying a premium for your dream MBA education should not be hindrance for you to do a MBA. as long as the fee justify the services and the standard of education provided the the institute. Make sure you understand the fee structure (Including hidden costs if any)!
Check out the curriculum and make sure it’s up to date with prevalent business practices and relevant to industry requirement.