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Aug-29th-2014

Choosing a Good MBA College

M_Id_462330_MBASelecting the best B-schools is a complex question. To answer it adequately, one requires a great deal of information and analyses before arriving at a reasonable conclusion. Many popular surveys and rankings are often published by various magazines, newspapers, and websites and many people subscribe to these rankings with blindfolds and take a decision accordingly. But it has to be borne in mind that the legitimacy of one’s decision depends entirely on the inputs that go into arriving at these rankings. Without being judgmental about any particular list, we look at some major parameters to consider while deciding on which college to join.

1. INTELLECTUAL CAPITAL

It is invariably the faculty that makes an institution what it is. The faculty should be judged by its qualifications, research and published work, interface with the industry, consultancy, and participation in executive training programs.

Most good B-Schools have a blend of core (full time) and visiting industry faculty to ensure a continuous monitoring during this two-year period. The visiting faculty complements the regular faculty by providing practical exposure through industry contacts and real time projects.

2. INSTITUTE INFRASTRUCTURE

Though good infrastructure alone does not amount to much, computers, Internet connectivity, library, and well-equipped classrooms can aid your learning to a great extent. It would be highly desirable to visit the B-school campus before you take any final decision. Interestingly, many top notch B-schools lack good hostel facilities. Do check for these things too, as they could impact your learning experience and pocket, too.

3. REPUTATION AND BRAND GOODWILL

The older B-schools have a certain advantage in terms of wider acceptability and better goodwill than the newer ones. But it would be difficult to generalize regarding this as one must examine the long term advantages of having a well-known brand name on one’s bio-data. In this regard, one should avoid the temptation of being unduly swayed by the concerns regarding initial salary. We need to remember that an MBA degree from a top B-school can open several doors of opportunities in one’s career which are otherwise shut.

4. CAREER PLANNING SERVICES

Pay close attention to the data on campus placements provided on the official websites and in the admission brochures. The average number of job offers and the median salary received by each student are two important variables to consider. Besides, you need to look for whether the salary is denominated in rupees or dollars, which can make a lot of difference.

5. STUDENT INTAKE

A significant amount of learning taking place at any B-School is on account of group activities. Obviously, if you are constantly surrounded by bright people, the learning experience is going to be rich. The quality of the selection process (like the rigors of Group Discussion, Essay Writing, and Interview) can provide a reliable clue to the quality of student pool at a particular B-school.

6. LOCATION

Though geography is history in today’s Internet age, the fact remains that the B-schools located in places having a concentration of industry, enjoy better placements. On this account, the B-schools located in cities having corporate offices, invariably fare better than comparable B- schools in other cities.

Always visit the B-school campus and speak to its staff, current students, and alumni to have a well-informed assessment about it.

7. FEES

With rising inflation, the fee at B-schools has emerged as a significant variable, which affects the decision on which B-school to join. Most good B-schools charge a good amount for a two-year MBA program. It needs to be remembered that the costs of living are not included in this fee. Despite the hefty fees, it should not be a major concern as bank loans are easily available. The repayments for such educational loans begin within 6 months of getting a job or within 1 year of getting the degree, whichever is earlier. There is no repayment to be done during the course itself.

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