December 12, 2010

How to Choose the Right B-school

Management courses in India were synonymous with IIMs, this was the scenario of mgmt. education, about 22 years ago. With time several good B-Schools have emerged to cater to the growing population of MBA aspirants but IIMs continue to be the best B-schools in imparting business education in India. The reason is that, these institutes offer innovative courses to satisfy the needs of all sections of students.
In the present scenario, the way by which a mushroom growth of MBA/PGDM institutes have occurred,  it has become very important to understand your needs and select the right institute. Since you will be spending a lot in your MBA, it is important for you select the right institute. How can we differentiate between these colleges? Here are some tips that you can follow to select the best B-School for you.

1) Reputation of the college: There are some B-schools, which already have a very good brand value and are very well recognized in the industry. Students of these well-reputed B-schools are sought-after by employers across industry. The brand value of the college adds value to the student's CV. If it is a new or upcoming college, then it is advisable to consult with somebody in the industry to understand the industry perception of the college.

2) Rankings, it matters: Every year, reputed newspapers, magazines and websites release B-school rankings. Although most of these rankings are not very reliable as they are biased but still they give some idea about the relative merit of the college.

3) Accreditation, consider it:  Check if the college is AICTE- approved or not. Check if the college have the requisite approvals or not. What other collaborations does the college have? It is very important to know what all accreditations your preferred colleges have. If your degrees are not recognized, they won't hold much value especially if you're seeking jobs in the public sector.

4) Placement records, go through it: One of the primary reasons why many students opt for MBAs is to get a well-paid job. It is for this reason that most students carefully study the official placement report of the college. When looking at the placement statistics, try and find out the job profiles offered. Also check out which companies hire from these institutes and for which ranking. What is the job responsibility and specifications of the employees in the market.

5) Alumni, the mirror of institutes:  People are the mirror of any organization. So, talk to the alumni of the preferred college, find out about the college and where they are placed. Try and get your doubts cleared about the quality of education offered and the facilities available.

6) Staff and Faculty: Try to figure out about permanent and temporary faculty members of the college. Find out about their qualifications and experience. A healthy mix of people with some industry exposure is preferred. This brings in insights from the industry and academics to the classroom.

7) Students, your future study environment: Try to figure out  some information about the students studying over there. As, they are the main part of your study environment of your college.Data such as the average CAT/GMAT scores, average age, average work experience and male-female ratio gives you a fair idea of the student mix of the college.
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