Copyright 2013 Careers360 1

http://www.bschool.careers360.com/

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

Copyright 2013 Careers360 2

http://www.bschool.careers360.com/

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.

Copyright 2013 Careers360 3

http://www.bschool.careers360.com/

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 top management 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 years 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 a similar 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. Copyright 2013 Careers360 4 http://www.bschool.careers360.com/

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. It is essential for any (b) Quality of faculty good institute to have a judicious mix of full-time and part-time 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 those who 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

Copyright 2013 Careers360 5

http://www.bschool.careers360.com/

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 ones career and not just its image when one studied in that institution. The placements are better in institutes located where there is a concentration of industry

(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. Copyright 2013 Careers360 6 http://www.bschool.careers360.com/

Programmes Offered
They can be classified into two categories -General Management Programme and Specialisationbased 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 in these specialised programmes are restricted to companies in that sector and as such do not lend the kind of flexibility to ones 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.

Copyright 2013 Careers360 7

http://www.bschool.careers360.com/

(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 the first 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 lets 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. Lets 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. Lets 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 ones 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.

Copyright 2013 Careers360 8

http://www.bschool.careers360.com/

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. But look 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 years 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 too restrictive. 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 freshers 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.

Copyright 2013 Careers360 . 9

http://www.bschool.careers360.com/

Warning Bells

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 may not be worth it. .

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. Not worth your time and money. The same applies to free laptops.

Copyright 2013 Careers360 10

http://www.bschool.careers360.com/

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 schools 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. Copyright 2013 Careers360 11 http://www.bschool.careers360.com/

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.

Copyright 2013 Careers360 12

http://www.bschool.careers360.com/

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.

Copyright 2013 Careers360 13

http://www.bschool.careers360.com/

 Speak to the course and This will help you specific

Make sure the programmes you wish to pursue are approved by the Distance Education Council of India

students who have undergone understand their experiences. to assess its benefits in your 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.

Copyright 2013 Careers360 14

http://www.bschool.careers360.com/

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 course curriculum 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.

Copyright 2013 Careers360 15

http://www.bschool.careers360.com/

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 the accreditation. 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.

Copyright 2013 Careers360 16

http://www.bschool.careers360.com/

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 gradual improvement 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.

Copyright 2013 Careers360 17

http://www.bschool.careers360.com/

Your CAT score is not great? What next

Should you retake CAT next year, explore Indian B-Schools beyond IIMs or study abroad? Take a well-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 havent 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 its important to not compromise on the kind of B-School they seek admission in. So, they better their scores by taking the various entrance exams like CAT, XAT, FMS, IIFT, and SNAP once again. If you decide to give another shot at CAT, the effort required would definitely be reduced

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 havent 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 Copyright 2013 Careers360 18 http://www.bschool.careers360.com/

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, its 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 is an alternative one should definitely consider as a back-up option that is very much possible. Its 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 Masters Programmes. These options can broadly be classified into the following categories depending on your work experience at the time of application: Copyright 2013 Careers360 19 http://www.bschool.careers360.com/

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 Managers Programmes/Top Masters in Management Programmes: - These programmes are meant for freshers 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 Management Programmes 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.

Copyright 2013 Careers360 20

http://www.bschool.careers360.com/