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Where do
you want to study?
First and foremost, you need to decide where
do you want to do an MBA from. This can be a choice between doing an MBA from India or abroad. You need to realize that the
admission process, eligibility criteria
and screening process for both may differ.
For
pursuing an MBA in India, there are several
locational factors you will
have to consider, such as the proximity of the B-school
to business hubs. The location of a B-school greatly
influences the level of interaction between a B-school
and industry, thus affecting the quality of
education and visiting faculty, if any.
What does
the B-school offer?
You need to take a look at the school,
its learning environment and the programs offered, whether
approved and certified by 'All India Council
for Technical Eduction' (AICTE) - the official
governing body responsible for regulation
of higher education in India; curriculum,
full-time faculty, campus services and the
student body. A good infrastructure assures
sound technical and logistical support.
What is
the balance between faculty and research?
It is a top B-school's ability to attract
and retain top-class faculty and its emphasis
on the quality of research that separates
it from others. Most business schools strive
for a balance of both. All top B-schools
have a strong focus on research and provide
extensive, contextual and relevant study
material.
What is
the placement record?
Find out the program’s acceptability
from the point of view of the list of potential
recruiters you have in mind, analyze this
through the B-school’s placement statistics
of the last three years, the number of students
that were picked by top-notch companies
and the differential placements of the
various B-schools. In this regard, also
find out how active is the placement cell
and/or the alumni network.
How is a
B-school ranked?
In the last few years, there have been various
surveys conducted every year that evaluate
and compare B-schools using a consistent
criteria. The results of these surveys could
help you target some of the top B-Schools.
Remember to take all of these surveys with a
pinch of salt though and not to bother about the
exact ranking of ‘a’ survey, but with the general
opinion of a few put together.
Read
more about the top B-schools
Does a B-school provide affiliations
and exchange?
B-schools have collaborations with acclaimed
international B-schools. For example ISB,
Hyderabad offers an International Student
Exchange Program, which gives students
the opportunity to study for 1-2 terms at
leading business schools such as the London
Business School (UK) and Kellogg School
of Management (USA). IIM Kozikode encourages
international student exchange with B-schools
such as the European School of Management (ESCP-EAP)
in Paris and the European Business School
in Frankfurt.
Exchange programs and affiliations
encourage a healthy, cosmopolitan learning
environment and promote global standards of
education. Such programs are optional, even
if you do not participate in a program yourself,
the experience of interacting with visiting students
will also benefit you alot.
Does a B-school
offer financial aid?
MBA programs do not come cheap.
However, it is quite easy to obtain
financial aid for pursuing an MBA,
especially if you are doing the MBA
from one of the top ten B-schools.
Most Indian B-schools do not offer
scholarships till you reach the 2nd
year and most of these are merit based. However,
most banks are willing to give students a loan
to pay for their education at extremely
nominal rates and these are not required
to be repaid till you start working. It
is highly recommended that you do not
allow financial constraints to stop you
from joining a good B-school and to go
in for loans. In fact, these loans actually
reduce your tax burden once you start drawing
those 6-7 figure salaries.
Read
more about financial planning
Who features
in the B-school alumni?
If the alumni of the school are in well-respected
positions in various industries, it automatically
ensures a good standing for the school in
the corporate world, which, in turn, implies
better placement opportunities.
What is
your need?
Today an MBA is no longer limited to marketing,
finance and other traditional specializations.
Applicants now have various options to choose
from. For example specializations like rural
management (IRMA), foreign trade (IIFT),
retail (KJ Somaiya, Welingkar's & SP Jain),
supply chain management (NITIE), systems
management (IIMC, IIT-Bombay) among others.
So, if you are interested in a specific
filed of study, find out which B-school
offers the relevant course and apply to
them. There are certain B-schools which
are reputed for their specializations; for
example MICA is known for its Advertising,
IRMA is known for their rural management
course, etc.
Read
more about how to choose specializations
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