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Considering the growing demand for business school graduates in the job market, management has become one of the most lucrative and coveted career options in India. This recent surge in demand for management education is the reason we are witnessing an increasing number of business schools being established across India every year. Once you decide to take up a management course, the tough part begins with choosing the right B-school. Deciding or finalizing the right or best management institute is a strenuous task. The right college not only puts you on the right career path, but also helps shape your character, thoughts, confidence, and belief that can lead to a successful professional life.
Why Compare Business Schools
Choosing the right B-school for pursuing MBA or PGDM program is like buying a product. While buying something, you do your research in terms of product suitability as per your requirements, the USP of the product, it’s reviews, specifications, differences in market price and a lot more. A rational consumer compares the available options and then picks the best or right one. Similarly, various points should be kept in mind while choosing the right B-school which will underline your future beyond those two years.
How to Select a Business School
A good college paves the way for a good career ahead and molds your personality by defining your future goals. The following guidelines will drive you to choose your right path as regards to choosing the right B-school.
Factors to Compare Business Schools
It is imperative to look for an institute approved by any Government body, affiliated with a university, or has an autonomous status. Accreditations are important because they are an assurance of receiving a quality education, they create goals for institutional self-improvement and help in determining the validity of programs offered by the institute. It also indicates the validation of a college for higher learning.
Another factor that management students need to take into consideration while choosing the right B-school is its faculty. Teachers help you recognize your passion and lead you towards making a successful career. Apart from emphasizing the application of theory, a good faculty will introduce you to real issues in the business world. It is essential to check whether the business school in question has sufficient full-time, well-qualified, and experienced faculty. You need to figure out the ratio between guest/visiting and permanent faculty.
Gaining industry exposure in the form of an internship with a reputed company can prove to be an advantage in a management student’s career foundation. Hands-on experience is much better than theoretical study. While picking the right B-school for yourself, ensure that the institute focuses on providing industry exposure to students according to their interests and caliber. It must have a good number of industry partnerships and tie-ups with reputed firms.
College Environment and Culture
The values imbibed in a student speak volumes about the college. The social environment created for a student by the campus is directly proportional to a positive outlook of a student towards his/her career. The campus culture will make or break your academic as well as a social experience. Look for a management college that beliefs in keeping a healthy and interactive environment.
This is another prominent factor that the students must consider while picking the right B-school. Before enrolling yourself in any B-school, check the placement records of the college and even compare the placement records of each year, profiles of the companies visiting for campus placement, salary packages, and sectors of recruitment. It is important to ensure that the business school you are planning to go to generates employability and promises a great career for its students.
The definition of Infrastructure not just comprises a fancy building of the college but the facilities it provides. The more the facilities the institutes provide, the more the students get room to upgrade their skills. When choosing the right management college for yourself, ensure that it has a good infrastructure in terms of the library, well-equipped classrooms, labs, cafeteria, Wi-Fi, hostel with good accommodation, etc. A healthy environment on campus will motivate the students in pursuing their goals.
It is advised to compare the fee structure of various B-schools before finalizing the right one. An expensive college does not mean or guarantee exceptional quality of education. It is imperative to decide on a budget that you would be comfortable with and then pick the right and best college for yourself.
Return on Investment (ROI)
Return on investment means the monetary and non-monetary return that a student can expect post MBA. ROI is an imperative factor when it comes to choosing the right business school. If the ROI is good, then don’t go for the make or break criteria in the fee structure. There are numerous banks that offer educational loan facilities that will help you to pursue your career.
Location of the B-school
B-schools located in proximity to the industry, education hubs, and policy-making bodies receive much attention. That is the reason, why B-schools located in the metros draw a large number of students. Keep the location factor in your mind while deciding on the right management institute for yourself. Commuting to the college should not be taxing as it can be a daily activity.
Is a particular b-school focusing on classroom learning or beyond? Is it also focusing on the overall development of a student? Does it encourage sports and extracurricular activities? Does the college ensure personality development before stepping into the corporate world? All these questions cater to the holistic development of a student. Make sure you are able to identify all features in a b-school that will not only help you academically but also help you grow as a person.
Choosing the right B-school is an important decision, hence, you must consider these parameters to ensure growth. Take time, do some extensive research, contemplate all possibilities and then decide, which will ultimately be your ladder to success.