Suresh and Ramesh are old school friends. Unlike most stories where one is smart and the other is lucky, in this story both friends are smart and hardworking. Both pursued undergrad from the same institute with the same field and got almost the same scores. The duo then went their separate ways to pursue post graduation from different MBA colleges. The two colleges, let’s provide them with believable names, ABC and XYZ institute. They belonged to the same tier of institutes but were separated by minor differences.
After the completion of MBA in IT, both friends by a twist of fate ended up working side-by-side. Both friends were amazed by their similar yet varied experience. Suresh was surprised see Ramesh get the same profile as him. This is because Ramesh’s institute XYZ had a lower fee and smaller campus had still ended up in the same profile and company as him. Ramesh on the other hand, was expecting that ABC institute, being one of the top 10 colleges in India would be a strict college. But, he was startled when Suresh told him about all the fun that he had.
ROI: Sole factor or one of the factors while assessing MBA colleges?
The story above has no moral, till now, as it is missing some additional information and perspective. But coming back to the matter at hand, ROI! Majority of the people would agree that ROI (Return on Investment) is vital in selection of top MBA colleges. The ROI of MBA colleges is one of the first attributes that a potential applicant looks for but there in uncertainty regarding the numbers and figures that the applicant has accumulated. These fester into questions such as: Is the average placement package inflated? Hidden fees that could have been missed? But even without these questions ROI is just the numerical representation of the expected return one might hope to gain. It does not account for a horde of factors which are integral to the success and operation of MBA institutes.
It is worth mentioning that ROI is a crucial factor which should be considered and researched thoroughly before applying to any MBA programs. ROI would help in providing you with a proper guide which would help in filtering out many colleges so that you could select one the best MBA colleges. But there are other factors that one should consider before finalizing a college. These may be related to attributes of the college that are worth pondering over.
Alumni Network
In today’s world, constant communication and connections have become the crux of being successful. In the global corporate world, networking has become an indispensible part of a person’s arsenal. The network of Alumni can be vital in opening the right doors and availing the right opportunities. But this does not mean that one can select any college just because they have famous and successful Alumni. Like every other factor mentioned in the article, each is crucial but cannot be treated as the sole criterion while making a decision for selecting MBA colleges.
Internship and Curriculum
Another important factor which should be considered while selecting MBA colleges is the nature and type of curriculum that is being implemented and followed by the MBA institute. It is worth noticing that different colleges have different curriculum and teaching practices. Even though many of the subjects, textbooks and lessons might be similar, factors such as teaching techniques can be the difference maker. For example, two institutes have the same MBA in IT courses and refer to the same textbooks but one institute is only focusing on theoretical learning whereas the other institute is focusing on not only theoretical learning but also practical learning by allocating industry projects or providing a simulated environment for applying concepts in practice.
Another factor that should be taking into account is the internship. Many students do not weight the internship as they have a misconception that past work experience combined with grades in all academic aspects should be enough to impress a recruiter. But as we know that most of the students opt for MBA to change their path of career or the Job Profile that they had. Therefore, a good internship can be crucial in providing the recruiter with evidence that you are capable of working in a new scenario and condition. Therefore the types of internships availed by MBA colleges is also important.
“All Work and No Play makes…..” Well you know how it goes
Fun is not the first thing which pops into head when someone says MBA. But fun is one of necessities of MBA Programs. But fun does not mean letting go of and avoiding every other responsibility. It just means working yet at the same time having fun and enjoying the moments that you are spending. Often, people regret missing out on the fun side of campus life as they were too focused on final placements. And rightly so as at the end of the day most of the students hope to use the MBA degree to earn a good job. But at the same time games and fun teach a lot of things which the core syllabus cannot.
And the most obvious factor of all: Personal Reasons
No guesses but everyone has a personal preference while selecting MBA colleges. The reasons vary from person to person depending on the situation and in some cases the upbringing. In some cases, people want to stay near their homes, whereas some want to explore so they prefer MBA institutes that are far from their homes. Some prefer choosing an institute because one of the professors is a hero to them. A lesser (but rarely mentioned) reason is chasing after someone (enough said, wink). People that want to just enjoy their two years of MBA would make a choice based on the campus life of the college.
In the end, there are many aspects one should consider before selecting MBA colleges. ROI though a crucial and vital factor is not the sole reason for selection of MBA colleges.
What qualities do you look for in the MBA institute of your choice? How important are factors other than ROI? Please share your thoughts in the comments section.
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