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The entrance season is almost over and many b-schools have completed or are about to complete their final stages of admissions. Those with a single final admit are usually sure of whether they would like to accept the admit or not, it is those with multiple final admits who are at an important crossroad of their life.
Decisions taken at such a juncture tend to be based on peer or parental pressure, b-school rankings and the features b-schools highlight about themselves. Speaking to students of the school helps in a limited way, as the advice coming from there tends to paint a rosy picture of the institute and is seldom balanced. While the decision to join a particular school might indeed turn out to be the right one in the long run, it wont hurt if to systematically evaluate the options before you before reaching a conclusion.
Brand equity of the b-school
A factor which is individual-specific. A brand name may bring along with it a certain degree of respect from friends and family, you should be sure if the school is capable of getting you access to the right networks and avenues. A good brand no doubt matters in the short term, but one needs to also be competent to last in the long run. You should figure out whether the b-school comprising the faculty and student group is capable of gearing you up for an increasingly competitive world.
A good b-school brand name is built over quite a few years of consistent performance both by the students and the faculty. A wider alumni base would mean a larger network that the school can tap into. During the economic recession of 2008, it is the b-schools with a wide alumni network that had the best placements.
Return on Investment
The often-used term is an important factor in choosing a b-school over another one. But the manner in which it is commonly calculated (fees over starting salary) is a matter of dispute. While there would be some runaway winners in an FMS or a JBIMS, it may not be smart to turn down a b-school just because it costs a couple of lakh rupees more, or to take up a b-school because it costs less.
Among other things, an important takeaway from a b-school is the network it allows you access to. Your classmates and seniors are going to be your future business associates, colleagues and even bosses. The more competitive your peers, the more it will help you in the advanced stages of your career. If by spending a few lakh rupees more you get access to a better quality peer group, it will be worth the cost.
Also, do remember that the age 20-30 are the best years of your lives. You are earning, hopefully unattached for the better part of your 20s and hence in a position to take risks. Take decisions that are beneficial in the long term, even if it means facing some inconvenience in the short term. Avoid assessing education the same way someone might assess a car. You can buy cheap cars for now and change them umpteen number of times in your life. But you will get education only once. If by spending more you are getting access to a better quality of peer group and opportunities, do not leave it for a less worthy option tempted by fewer education loan EMIs.
Placements
All b-school websites feature placement information. Taking them at face value is, as they say, something you ought to do at your own risk. But all things being similar and all b-schools fudging their reports almost equally, give more emphasis on the profiles and roles offered by companies in a b-school rather than on the average salary.
You can figure out a lot by looking at the placement report of a b-school over 3-4 consecutive years. You can observe which companies have been consistently coming to the campus for placements, the number of offers they have made and the roles offered. If there is some company which has discontinued visiting the campus, you should ask the school the reasons. The number of alumni working in senior positions in the industry is an important parameter. The number of alumni who come back to recruit from the institute year after year is another factor to be considered.
Another thing one can do is, make a list of companies you are interested in joining and then visit their sites and see the credentials of the people and where they have graduated from and what number of years of work-ex do they carry. Linkedin is another great tool — find profiles of senior people in your dream companies and observe their career tracks and alma mater. A few hours of research on Linkedin itself can throw up a lot of insights about what it really takes and whether the candidate b-schools under your consideration are capable of getting you there.
Peer group
An oft-neglected factor. Having classmates of superior intellectual capability and diverse backgrounds can have a profound effect on the learning you derive during your two years at b-school.
Be wary of joining a b-school where you may turn out to be the smartest guy/girl in the class. For most of you, b-school will be the last time you will ever spend in college. It will also be the last time you will get to experiment, rid yourself of many personal ghosts and push yourself out of comfort zones without the worry of responsibilities. Join a b-school where you are surrounded with people in whose company you can clearly see what you are not, and work towards filling those gaps in your personality.
One can get to know about the likely peer group at a b-school through the various online groups that are formed after the final admission results are out. Attend meets with seniors in your city and ask yourself honestly whether the company of these people will change you as a person for the better, or will it be a mere repeat of your undergraduate college in terms of the people you will be with.
Faculty
While its commonplace knowledge that not all faculty in a b-school are competent, there are a few you would like to know about. For this, you can go to the institute website, get to know the credentials of the faculty members and/or talk to the present batch of students. Talk to alumni too. Make an Excel sheet of the number of years of experience and academic background of the faculty and see whether the institute’s claims about its intellectual capital are true. Search for the names of the professors on Google Scholar to find out how much research they participate in. In academic circles, the respect and the worth of a faculty is measured by the amount of research done by them. Beware of b-schools that rely too much on visiting faculty.
Figure out how accessible the faculty is. How easy is it to approach a faculty with ideas or doubts?
Culture of the b-school
Several Indian b-schools are run like secondary schools — you are supposed to wear a uniform, there are rules and regulations concerning mobile phones, timings during which you can leave the campus, etc. Some b-schools require you to get up early in the mornings for Yoga and have stringent rules on meal timings.
Watch out for a culture that you might find too restrictive for your age and maturity. However if you feel that you could do with some grooming, discipline and polish at this stage in life, the above described culture may help you.
Rankings
While there are various rankings available across various media, it cannot be the most important parameter to take a call. Usually, a difference of a rank or two doesnt necessarily make a b-school better or worse than the other. Pay attention to how the rankings are arrived at be it on the basis of perception (our very own PaGaLGuY b-school rankings) or data collected from the college. Get to know what the methodology is and asess whether the rankings are fair and genuine before taking a call. Use rankings as one of the many parameters but never the principle parameter.
Location
B-schools located near industrial centers find it easier to create opportunities for industry interaction and placements. If b-schools are located away from industrial centers, ask how they compensate for it.
Try not to join a b-school in the same city as your family. If you’ve never stayed in a hostel, grab the opportunity to do so during b-school and learn to be independent and manage your life on your own terms.
Infrastructure
There is little to choose between colleges on the basis of this factor. Almost all the colleges boast of a similar level of basic infrastructure (a hostel, WiFi enabled campus, basic AV facilities, a library, etc.) Even then if you are not sure about the tall claims made by certain b-schools, you can either visit the campus yourself or ask someone from the city (you can always find someone from PaGaLGuY to assist you with this) to check out the campus on your behalf and maybe click a few pictures too.
The choice of not making a choice
Do remember, not accepting any of the admits is also a choice.
In case you get an admit from one of the b-schools you werent too keen on joining right at the start of the season but find yourself ‘settling’ for it, now is the time for introspection. Take into consideration all the relevant factors, consult people who know you and assess your potential before arriving at a decision. Your past scores would be an important factor which can be considered. If there is a glaring weakness youve identified (panicking under pressure, not being able to write a good statement of purpose, fumbling in the GD and the PI, a weak section, lack of time, etc) and you feel you can overcome it, you can take another shot at the entrances or consider an MBA abroad.
In recent times, entrance exams and admission processes to the country’s top b-schools have been rife with glitches. The frustration so caused can cause pressure to ‘settle’ for a school that will not do justice to your capabilities. If you feel you have underachieved, you can take another chance. At the end of the day, it is important to be content and not lament about how things could have been had you just walked that extra mile.
(With inputs from Apurv Pandit)