Just google 'how to select a
bschool' and you will get umpteen results. Most of them however, are slavish
reproductions of the Western oriented approach where a person, often after
considerable work experience, applies to a few bschools with a detailed
application, has a set career path/goals in mind, and often self finances the
MBA himself. While over here, we Indians must often fake the bit about career
goals(learn to lie convincingly about a 5 year career plan) and take resource
to parent's financing the 2yr holiday after we tire of our jobs/to fill the gap
after undergraduate education. Anyways, this post was motivated by hours of
amused chuckling over several advertisements for bschools, which promise the
sky, but on closer thought really have no value. Lets check out those factors
- Faculty from IIM/XLRI/Harvard etc:- There must be around 20,000+ alumni alive of IIMA,B,C
alone, to say nothing of the other bschools. Being a faculty of those
bschools is a cachet, but being an alumnus who then decides to teach does
not in my view, have the same impact.
- Wifi enabled campus:-Lets
face it. It is unlikely that you will need to use Wifi in classrooms for
any legitimate academic purposes(its really more of a distraction). If the
instructor wants to show videos etc, then he can use the desktop/laptop
projector for that. And about using the wifi in campus, library, other
locations, well, even a data card can achieve it much better than what a
slow Wifi connection would. Ok it is good to have especially for those
smartphone users who MUST check their email/facebook updates every now and
then, but otherwise for us mortals, it is avoidable
- 100% placement assistance:-Mark the words 'assistance'. That means it is on a best
efforts basis. I agree that no program can really give a job
guarantee(except maybe the IFBI retail banking operations diploma or the
ICICI-NIIT MBA for recruitment of officers. So be aware that this is just
a weasel word, without any legal backing. Now, if anyone guarantees a job
with minimum CTC post campus OR defers the fees till the graduates get a
job, THEN I'll give some credence.
- Free laptop/books/exchange program/study tours..:-Nothing in life is free. The cost is built into your
course fee, and the institute administration is probably getting a
cut/commission from the supplier, which is compulsary.
- Paid internships:-the
minimum companies can do is to pay you for the work you do during the
internships.But rather than stop at that, look at the company mix, and
also the conversion rate of internships to PPOs, and then final
acceptances. even at very good colleges, the PPO rate rarely exceeds
25%-35%, and the acceptance rate in a good year may be around 80% or
less.
- Student Exchange Program:-This may be in some little known colleges, which are
just located in a 'fun place'-read London, Paris, New York and so on. What
you may not know is the extra costs/fees attached to that. So find that
out before entering with starry eyed videshi dreams.
- 'Industry Interface'-lectures, projects:-the lectures are likely to be a hagiographic version of
how the executive rose to his position, or a marketing spiel for his
company. The projects may be a form of crowd sourcing ideas or just free
labout(a typical marketing project for example!). So do dig deeper to understand
this industry interface. the acid test is whether those companies offer
scholarships, paid internships/projects and come down to recruit as well.
- Swimming pool. amenities, club house....Remember all those amenities are at YOUR expense and
reflected in the fees. They are surely good to have, but remember that it
is NOT a favour or anything, just something you pay for. And even in
colleges without good hostels(read FMS, SP Jain and so on), accomodation
at every price point would surely be available nearby. So just because a
college offers superior amenities is not a sufficient point.
- Star faculty/authors/gurus:-Firstly, many of these people may just be self
proclaimed management gurus, who rarely teach(why would they when they can
earn big bucks in training or consulting or MDPs). So find out whether
those 'star faculty'/'big names' actually teach, and if so whom, and
how often, and whether you can get in.
- Rankings/Awards:-Lesser
said about it the better, but if a college uses a single ranking to defend
its position, its a red flag. Multiple data points, consistency across
years are all important while evaluating a college. Also, think about
whether the college strengths dovetail with your own. for example, if you
are a finance guy and the college is great in marketing and so-so in
everything else, you may want to rethink your position. Also, try to find
out the age of the rankings, as also the scope. Many colleges rest on past
laurels(like using 2010 rankings in 2012 ads even when 2011 rankings
available) or win awards just because the top colleges did not participate
or the college sponsored the award function. So be careful.
After all this, you may think about
what is remaining to look for! Nothing beats speaking to a cross section of
recent alumni from the college, whom you trust to be objective. But for the
rest of us who are not well networked(u should rethink your MBA potential in
that case!) and must go for non brand colleges, go to the pagalguy forums or
try speaking to the placement coordinator/faculty to see what impression you
get. Hopefully, even if not the complete truth, those people should not
lie.