selecting the right b-school

8/13/2019 Selecting the Right B-School

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Copyright © 2013 Careers360 http://www.bschool.careers360.com/

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Table of Contents

What This Book Is About ................................................................................................ 3

B-School Admissions Made Easier .................................................................................. 4

Selection Criteria ......................................................................................................... 5

Programmes Offered ................................................................................................... 7

Zeroing In On the Right B-school .................................................................................... 9

Decision Enablers ........................................................................................................ 9

Warning Bells ............................................................................................................ 10

Warning Bells you must not ignore .............................................................................. 11

12 Ways To Gauge The Value Of Your Course.............................................................. 13

A Primer on Accreditation ............................................................................................ 15

Your CAT score is not great? What next… .................................................................... 18




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What This Book Is About

Deciding which MBA programs or business schools to apply to is a conundrum faced by even the

most decisive of MBA applicants. All business schools are not the same. You need to carefully

research your choice of school to ensure that it matches your personal requirements. A systematic

process for making your business school choice should be adopted.

This book is a collection of pointers given by experts to help you decide what all parameters you

should keep in mind while selecting the B-school suitable for you. This book tells you what signs you

should look out for prior to zeroing in on any B-school.




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B-School Admissions Made Easier

Other than the top 10-15 schools, every other school needs to be examined closely before

the decision is made to pursue a programme. Here is how...

There are over 4,000 B-Schools in India, offering more than 62 different variants of an MBA

programme. So selecting the right school is a Herculean task for any aspirant. If one scores a 99

percentile and gets calls from all the top IIMs, then there is obviously nothing to choose. But as one

moves down the pecking order, a range of factors creep in to decide your final choice. With the cost

of an MBA being 6-8 lakhs rupees, it is a costly decision too. Let us look at a few preliminary factors

that would influence your selection:

Work experience

So far, it has been observed that about 30-40 percentage of the candidates who get into topmanagement institutes in India have prior work experience of one year or more. It appears that

some top management institutes in India are taking in a higher proportion of candidates who have

over a year’s “work experience”, in most cases, defined as “full-time, paid, work experience after

completing graduation”.

Fee

The fee charged by management institutes in India varies a great deal between institutes. It is as

little as Rs. 20,000 for a two-year postgraduate programme in university departments funded by the

government while premier institutes may charge anything between Rs. 4 lakhs and 12 lakhs for asimilar programme.

A Foreign MBA?

The ‘abroad’ option appears attractive to those who can afford it. The main attraction seems to be

the fact that admission into them is relatively easier than getting into a top Indian management

institute. However, those who are on the lookout for management education abroad should note

that work experience is a ‘must’ for most of these management institutes and that at the end of the

course the students ‘might’ not get the kind of placement that they were hoping for.

Degree or Diploma?

The value of the management course pursued by them does not depend on the fact whether it is a

‘degree’ or a ‘diploma’; rather it depends on the ‘reputation and standing’ of the institute that is

offering the degree or diploma. A ‘degree’ is not always better than a ‘diploma’. The converse can

well be true. In fact, the most sought-after IIMs offer only a diploma!

When companies recruit management graduates, they certainly do not worry about the title of the

course offered at a particular institute. They look at the intrinsic worth and reputation of the

institute, quality of the course, and, of course, the calibre of the students. These are more important

than a title.




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Selection Criteria

Look at these parameters carefully, and then decide on which B-Schools to apply to.

(a) Placement

A large number of management institutes boast of a 100 percent placement record for their

students. With management institutes mushrooming all over the country these claims should not be

taken at face value. You can enquire about such claims with the students currently studying at these

institutions. But you should note that the students of the institute may not always give the true

picture. They could exaggerate the placement performance of their ‘own’ institution. Preferably, you

should also speak with the alumni to get a clearer picture of the school.

An important factor most students miss out in the excitement of high average salaries is the average

number of offers each student gets. This indicates the choice that a student typically has in terms of

companies and jobs on offer.

(b) Quality of faculty

It is essential for any good institute to have a judicious mix of full-time and part-time faculty

members. The full-time faculty team provides the continuity and monitoring that is needed over the

2-year period, apart from any hand-holding required. The part-time faculty team gives students the

much needed external exposure, contacts in industry, and access to real time projects.

One way of getting to know the quality of the faculty team at these institutes is to speak to thosewho are currently studying at the institute. Generally, students give a genuine picture about the

quality of the faculty members.

(c) Quality of students

This makes a very big difference on account of the interaction that a student has with his peers.

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 (the difficulty level of the written exam, the rigorousness of the

It is essential for any

good institute to have a

judicious mix of full-time

and part-time faculty




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GDs/Interviews) adopted by the institute gives you an idea about the quality of the students it

admits.

(d) Quality of infrastructure

A state-of-the-art computer lab, a high-speed Internet connection, a well-stocked library with

subscriptions to management literature, and duly furnished classrooms - institutes not having these

cannot be called top class.

Students are advised to visit the campus of the institute in question, particularly one they do not

know much about, and gather first hand information about the facilities available before deciding to

join. Students should also find out info about hostel facilities, if available. The fully residential

programme of the top B-Schools fosters all round development as the period of interaction with

peers and faculty is just not restricted to the class hours but is an ongoing 24/7 process where the

scope to learn and imbibe is multiplied many times over.

(e) Image of the Institute

A factor that need not specially be emphasised is the reputation a given management institute

commands and the image it perpetuates in the industry. While it can be said that it is natural for

older institutes to have a better reputation than the ones that have started recently, it cannot

always be generalised. Also, remember that it is often possible that a recently set up institute has

been established by an older, well-established institute. In such cases, the “parent/guardian”

institute certainly helps the new institute through its formative years. If an institute falls into this

category, even though it is a newly-established one, rest assured that the institute is a good one.

Relevant examples here are the relatively new IIMs. For instance, every time a new IIM is set up,

there are doubts whether it will be as good as its older siblings. It has to be remembered that in due

course, it is bound to establish itself and enjoy the benefits of the “IIM” brand name. What matters

in the long run is the image of the institute during the course of one’s career and not just its image

when one studied in that institution.

(f) Location of the B-School

Location refers to the geographical location of the B-School. The location indirectly affects the

placements on the campus. The placements are better in institutes located in places where there is a

concentration of industry. This happens because companies find it much easier to recruit

management graduates from institutes located geographically closer to their own headquarters

rather than go to an institute which is located far away. For this reason, other things remaining the

same, institutes located in Mumbai, New Delhi, and Bangalore always score better than institutes

based in other cities. Chennai, Pune, and Hyderabad make up the next level of cities. The impact that

the location has on an institute is very little for the top ten institutes, while it becomes more and

more pronounced as you go down the ratings list.

“The placements are

better in institutes located

where there is a

concentration of industry”




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Programmes Offered

They can be classified into two categories -General Management Programme and Specialisation-

based Programme.

A General Management Programme gives a student the flexibility to join any sector and thus affords

maximum diversification and placement opportunities as opposed to a Specialisation-based

Programme (SP). All the IIMs and most of the Ivy League schools offer General Management

Programme (GMP) to students.

Some B-Schools offer programmes catering to a specific sector or specialising in an area. Institutes

like XLRI, MICA, IRMA, IIFT, and TISS, are the best in their respective sectors and students should be

keen to join them.

However, there is a plethora of programmes emerging now catering to specific sectors and needs of

the industry like those in actuarial science, retail, and insurance. The placement opportunities inthese specialised programmes are restricted to companies in that sector and as such do not lend the

kind of flexibility to one’s career that a General Management Programme offers.

Many top institutes offering GMPs have, of late, started offering specialised programmes. Students

should note that though the image of the institute lends credibility to such programmes, this rub-off

effect diminishes. Carefully evaluate such specialised programmes before applying.

What should you do?

The first question: “How many B-Schools should I apply to?” The first factor is your budget. With the

application fee for each institute being in the range of 500 to 1600, you may not want to look at

more than 7-8 institutes. But, whatever be the number, it is always a good practice to select

institutes across categories/tiers.

The second pertinent factor is what you are doing:

(a) Pursuing final year of graduation: In this case, you may be very keen on getting into a

management institute but can afford to try again next year if you do not get into an institute of your

choice. So, in this case, you may apply rather selectively.




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(b) Completed graduation in last academic session, not pursuing any higher studies, and not working

either:

In this case make sure that you get into some institute (a reasonably good one), come what may. So,

the number of institutes that you have to apply will be more than what is stated in the case of thefirst category.

(c) Completed graduation and currently working: You can be very, very selective unless you have

been working for more than four to five years in which case, you may not want to lose further time

in getting into a management institute.

The third factor is your performance in the entrance examinations. Depending on what the

performance is, you may want to hedge your bet by applying to more institutes – particularly, to

institutes across categories that we discussed above.

Final words

Now let’s see how you will go about deciding which institutes to apply to. The cardinal rule is that in

order to safeguard your interests and reduce your risk, you should apply to institutes in at least

three different tiers.

Let’s say that you have decided to apply to seven institutes. First, check how you have performed in

your Mock CAT series and what your percentile score is. Let’s say you are in 85-95 percentile range.

Then apart from the IIMs, you will need to apply to three institutes in the next category and two

institutes in the category after that. It is also worth applying to XLRI and/or FMS. Additionally, apply

to some sector specific institutes like IIFT, IRMA, MICA or TISS.

Finally, it is always a good idea to apply to as many institutes as possible to maximise one’s chances

of making it to a B-School as one is never sure as to what criteria each institute would follow to

shortlist and select students for its programmes.




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Zeroing In On the Right B-school

Decision Enablers

1. Location

Unless it is a top-ranked

school, location matters. So

prefer metro-based school

to a non-metro one, other

things remaining equal.2. Faculty & Accreditation

Look for an ideal blend of

academics and practitioners. Butlook behind the numbers. Look for

the number of faculty with over 10

years of work experience.

Accredited schools are always

preferable.

3. Peer Groups and Impressions

They are the most important. From

previous year’s brochure see the kind

of colleges your seniors come from.

Academic and gender

diversity too matters a lot.

4. Average Salary and Fees

Very few institutes tell you the absolute

truth. So discount average salary is

about 25%. See if the fees justify the

average salary. Also do not be toorestrictive. MBA has a long earning

horizon. So go for schools with better

brand equity even if the fee is slightly

higher.

5. Job Profiles

Companies recruit fresher’s at multiple

levels with different packages. See what

is the job profile offered at the schools.

If it is a Tier 3/ Tier 4 School ask if the

companies recruit through their Direct

Sales Agents. If yes, be very careful.




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Warning Bells

5. Foreign Trips/Laptops

Having an excursion is good for school

children. You have a career to bother

about. Unless the trip is for a trimester

or so, it will just be a pleasure trip. Notworth your time and money. The same

applies to free laptops.

1. NRI/Management Quota

If you are offered seat in this quota

without asking for it, the institute is

trying to make more money out of you.

So check them out carefully.

2. Discounted Fees

If ever a school offers you a discount

(which might be disguised as a scholarship), see

if it comes on the basis of competitive criterion.

Or else the institute is just trying to fill seats.

3. ‘Companies associated with us - listing’

For all you care, the names you see have only

made a guest appearance to the school.

Specifically ask for list of companies who

recruited during the last year.

4. Multiple-degree offers

Many schools offer a range of MBAs within the

same campus. But only one or two will have

flagship status. If you are offered admission to a

programme you have not applied for, be warned.

It ma not be worth it.




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Warning Bells you must not ignore

The mushrooming of B-Schools has forced many to adopt unscrupulous methods to fill seats.

Careers360 identifies six such strategies…

Since there is little to differentiate between schools as one goes down the pecking order, it is easier

to reject a school than to select one. We help you with the warning bells.

Pre-selected for GD/PI:

Some schools contact you, saying that you have been pre-selected for a GD/PI process. Sometimes

even relatively well-known schools do this when they open a branch campus. So only if the school’s

reputation is fine, go for the GD/PI.

Ever rolling admission cycles:

Some schools do not have a wait-list cycle. They begin the admission process six months before the

cycle, and they go on even months after the academic session begins. Here your loss is double. First

you lose out on the classes held so far, and second you are getting to be part of a batch that almost

everybody gets in.

Multiple degree offerings:

Some schools offer you a PGDM (or its variants) from its stable and say you will get an AIU/UGC

recognised degree from a State university. This is a double-edged sword. Unless the institute says

upfront it is a Distance Learning MBA that you are signing up for, the college is lying through its

teeth.




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Merging core and visiting faculty:

For schools which lack core faculty, the easiest way to mask it is to list different types of faculty

(guest, permanent, visiting) in a single list. Many of them may even teach just one lecture on

campus! Another problem is with respect to schools that have recently opened multiple campuses.

The brochure is invariably common and the faculty list too would be common. So the number on

that list might look impressive, but much less so when divided among four or five campuses.

Agency-led placements:

Some schools outsource their placement activities to consultants. Invariably he/she would be paid

for the number of positions filled, irrespective of the quality of placements. You might actually end

up being a sales executive. There is absolutely nothing wrong in that, but then a Distance Learning

MBA would also suffice.

Specialised MBA:

Some schools might offer a named MBA along with regular MBA. Specialisation is offered in

marketing, retail, services, hospitality, health etc. Be very conscious while going for a specialisation

as it would work only if you have a long-term interest in it. In many schools which offer both regular

and specialised MBA, invariably the specialised MBA students get lesser pay and lesser

opportunities. In fact, FMS Delhi has recently merged its specialised course to avoid such hassles. So

a general MBA is a safer bet.




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12 Ways To Gauge The Value Of Your Course

This checklist will help you establish if the degree is recognised by law, and by prospective employers

A whole new breed of colleges have come up in the recent years, wherein they tie-up with a

university to offer MBA as a study/learning/partner centre. These are, despite all the tall claims,

correspondence degrees and the status of the institute is that of a coaching centre. So when you

attempt to study in such an institute take active interest in the following factors according to Siva

Ram Mallela:

Make sure that the university or institution is approved by the Distance Education Council of

India (DEC). This approval is required both for your employment and further study.

Do check if the course you desire to pursue is also offered in full-time mode. Compare the

curriculum of the distance education course with the full-time one.

Try and verify how the distance education programme is perceived by the employers.




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Speak to students who have undergone

the course and understand their experiences.

This will help you to assess its benefits in your

specific circumstances.

Review the courseware that is provided by the university or institution. Superior content in

the courseware and the delivery methodology would give you an advantage in terms of

knowledge that you gain here.

Assess the rigour of the programme before you enrol and see if you can donate the required

number of hours of study. Students take up very difficult programmes through distance

education thinking that tougher courses have better value. If you are unable to match the

expectations, in all probability you will lose interest quickly and discontinue the programme.

Understand the support that the institution provides by way of study centres, contact

classes, online classes, and study-material and so on. Also verify if they are able to provide

access to online libraries, case studies, project work, etc.

Sometimes universities prescribe compulsory attendance at the study centres or contact

classes. Check if you can spare the required time for such instruction.

Exams for distance education students will be conducted by the university separately and

the process of holding exams will be communicated to the students. Check who will conduct

the exams. You must choose a programme for which exams are directly held by the

university.

The alumni network is one of the strongest pillars of the university system. Alumni add value

in terms of taking part in the academics, placement of students and also in forging

collaborations with the industry.

Finally understand the total fee structure and match it with your affordability. The total

costs associated with the programme must be clear so that there are no surprises.

Make sure the

programmes you wish to pursue are

approved by the Distance Education

Council of India




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A Primer on Accreditation

The delivery of a course depends on so many parameters. According to Prof. Nandagopal ,Director,

PSG Institute of Management , the accreditation process aims to build up a high quality coursecurriculum and also improve the process of delivery. A look at the parameters and process...

Accreditation

This is the process of quality assurance whereby programmes in an approved institution is critically

appraised to verify whether that programme meets the norms and standards laid down. Approvals

of institutions are based mainly on the minimum requirements of norms. In a typical Business School

the norms are spelled out in terms of numbers required for basic infrastructure like land, building,

and number of books, journals, computers and software requirements. The faculty number and

qualification is also prescribed. An institution which fulfils the norms laid down by the approving

agency gets approved for the programme conducted by the institution. But the accreditation goes

much beyond the norms. In most of the cases the accreditation is voluntary. It enables them to know

the quality of their programmes and their advantages and disadvantages.




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Why accreditation?

The accreditation helps the organisation to benchmark the best practices offered by different

institutions. This process helps continuous improvement of the institution in the delivery of the

programme.

The process

The delivery of a course depends on many parameters. Developing the course curriculum using

pedagogy in delivering the programme involves a lot of intellectual thinking. The accreditation

process helps to build up high quality course curriculum and also the process as well.

International collaborations

The era of globalisation made the academic institution to go for international collaborations. When

any institution abroad looks for collaborators the easiest parameter to decide on is theaccreditation. The international accreditation definitely helps collaboration on international level.

Campus recruitment

More and more multinational companies have started operating in India. When they look for

recruiting students in their organisations, this international accreditation will be a value add for the

process. Accreditation becomes very important in such a scenario. This is especially relevant for

multinational companies in the software sector.

Quality improvement

Every system looks for continuous improvement. Continuous improvement may be achieved

through revisiting the process continuously and systematically. The accreditation process developed

by various accreditation agencies helps any institution to revisit the mission objective linkage as well

as the core objectives with the output of the programme.

Philosophy of accreditation

An institution voluntarily undergoes an independent appraisal of its educational activities by a peer

team. The accreditation demonstrates initial capacity and a commitment to sustain and improve

processes.

The outcome of the accreditation is highly desirable, yet most of the benefits accrue to the

stakeholders via mission review, strategic planning and self-assessment.

Accreditation is process-led and is a faculty-driven process. The accreditation demonstrates quality,

burden of proof and justification is on the institution. This drives the institution to under-promise.

The accreditation process has shifted from an emphasis on ‘inputs’ and a ‘prescriptive process’.

Now-a-days greater emphasis is on ‘activities’, ‘outcomes’ and an ‘assessment’ process.




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Principles of accreditation

Accreditation is integrity-based, not compliance-based.

Think beyond minimum standards prescribed by the approving agency.

Accreditation helps the institution to experience quantum leaps and not just gradualimprovement in the quality process.

Accreditation provides a structure for doing what the institution should already be doing.

Accreditation brings discipline to the improvement process. Accreditation provides access to

peer institutions.




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Your CAT score is not great? What next…

Should you retake CAT next year, explore Indian B-Schools beyond IIMs or study abroad? Take awell-informed decision.

The Indian Institutes of Management (IIMs) have released the CAT scores. Other good MBA

institutes have also begun releasing their test score results. We hope that as an MBA aspirant you

have done well in these tests. However, in case you haven’t got the score you hoped for, here is a

plan of action you can follow according to Kamlesh Sajnani, Managing Director, IMS Learning Ltd.

1. Retake CAT next year and improve your performance

Many students believe that it’s important to not compromise on the kind of B-School they seekadmission in. So, they better their scores by taking the various entrance exams like CAT, XAT, FMS,

IIFT, and SNAP once again.

If you have decided to give another shot at CAT, do remember that the effort required would

definitely be reduced. We have had many examples of students who haven’t given up and made it to

the IIMs. To take up this challenge the first thing that you have to do is to keep in touch with your

If you decide to give

another shot at CAT,

the effort required

would definitely be

reduced




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prep material to maintain fundamental competency. Secondly, what you need would be Practice

tests, three months prior to the actual CAT to keep yourself primed.

2. Explore other Indian B-School options for admission

If you wish to do an MBA this year itself and are searching for more options in India, you can apply to

Business Schools whose application deadlines are still open. However, it’s important to map your

individual profile based on the factors like academic background, work experience and current score

to be able to finally select the right institute.

3. Attempt and do well on state level entrances

Since you have already prepared for the CAT, all you need before taking the state level entrances is

to quickly learn the additional concepts and question types (like visual reasoning) assessed in these

entrance examinations and follow it up with sufficient test-taking practice

I would recommend you to take around three to four simulated practice tests and follow it with

diligent analysis and feedback.

4. You want to explore International MBA/MS options

With the opening up of economies, multinational organisations are faced with a growing

requirement for transnational managerial resources. This has led education in general and

management education in particular, to transgress borders.

Management education aspirants now have a viable alternative to the perpetual and perennial

shortage of seats at the IIMs and other premier B-Schools in India. Securing an international MBA isan alternative one should definitely consider as a back-up option that is very much possible. It’s a

kind of insurance for you.

Long gone are the obstacles, myths that used to be associated with international education. Today,

the only requisites are the willingness to put in the efforts and a keen hunger to excel.

Key reasons to seek an international degree are:

Be a global resource and hence widen career scope

Get a better-quality education than is available in their own country

Avail of better career opportunities

Broaden international experience/exposure

Gain exposure to various cultures

If these reasons sound familiar, international education is a viable solution for you. And if you would

like to explore international options for doing an MBA this year itself, you have a plethora of options

to choose from for the August/September 2012 intake. These options include MBA, Master in

Management and Specialist Master’s Programmes.

These options can broadly be classified into the following categories depending on your work

experience at the time of application:




Category 1

Top 100 Global MBA Programmes: These programmes typically require applicants to showcase at

least two years of full-time work experience ranging from two to seven years. This programme

ensures that the students get placed in middle management positions in multinational organisations.

Category 2

Young Manager’s Programmes/Top Master’s in Management Programmes: - These programmes are

meant for fresher’s and recent graduates (maximum of two years of work experience) who want to

develop a comprehensive understanding of the fundamentals of business required for a global

career in finance, marketing, consulting, and general management.

Surprisingly, the cost of the programmes is very much comparable to most Indian ManagementProgrammes and the jobs post for these programmes are available in the best 200 global

organisations.

To know more about any of the options or for further support and guidance, I recommend that you

visit expert counsellors who should be able to guide you on any of these options.

selecting the right b-school

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