Top 10 Factors to Select the Good MBA Colleges
An MBA from a high-ranking institution is considered to be the key to corporate success. But before jumping onboard the MBA ship, it is imperative to know your destination and chart your course very clearly. Colleges offering management courses may offer a degree or a diploma, depending on their affiliation. Most Top MBA Colleges in India accept the CAT scores, while some have their own entrance exams. XAT, SNAP, NMAT and CMAT are the important MBA entrance exams conducted by reputed universities.
Applying to the right colleges is as important as getting a high percentile in the entrance exams. Until you are very sure which colleges you want to target, your preparation will not be up to the mark. Here are the key factors which impact your decision when choosing a college for business studies:
The faculty in a management college must capable of providing updated knowledge that is useful from the industry point of view. Simply following theoretical knowledge is not adequate for management studies, since ability for solving real life problems must be developed. Experienced faculty who can share insight for leading teams and projects are a must. Plus, the pedagogy must be interactive and appreciate inquisitiveness in students.
Degree or Diploma:
There is very little difference when it comes to being recognised by industry. While a diploma gives you more flexibility in curriculum, a degree may be better if you are aiming further studies abroad. Apart from the IIMs, management studies departments of State and Central Universities and some private Universities recognised by UGC conduct MBA courses and give degrees. On the other hand, the colleges that are accredited by AICTE offer PGDM programs.
For most students, campus placement is the deciding factor when it comes to choosing an MBA college. Top B Schools in India attract leading companies for placement and assure a handsome package. However, check whether the companies named by the college in placement list visit every year or only occasionally, and also the percentage of students placed in these top companies.
An impressive infrastructure that includes computer lab and a vast library is another important factor. Learning resources like journals and case studies must be available. Further, the college must be conducive to overall development of students and conduct events and contests from time to time. Dedicated cells for student welfare, placements, innovation and cultural activities are also part of overall infrastructure of a college.
A university or college that has rich collaboration with industry and attracts real-time projects is the best. Doing projects and solving case studies gives a boost to MBA learnings. Even the curriculum and evaluation must have substantial research-based elements.
This is another aspect that most students consider at the primary stage of their search for a suitable MBA college. There are a few reliable sources of ranking for the MBA Colleges in India that do in-depth analysis of several critical factors and provide a comprehensive list. While the top 10 colleges require extremely rigorous preparation, even the colleges that are amongst the top 25 are good enough.
Before you start applying, be sure of the stream of management that you are going to choose for your specialisation. While HR, Finance and Marketing have been the most common streams, more focused ones like facilities/ mall management, healthcare/ hospital management, risk management and those related to managing resources for ecological safety are now gaining popularity. Look for a college that offers these new age streams as well.
The opportunity of visiting an international university or learning from sought after faculty is a bonus that you get by securing admission in Top B Schools in India. Many universities from across the world have partnered with Indian colleges for providing exchange programs for a few months, wherein students learn management techniques in a global arena.
For a well-established B-school, the support of its alumni counts a lot. It might be for training and internship, placement support, guest lectures or industry projects. Check out from trustworthy sources how strong the alumni network of an MBA college is and how effective is its alumni cell.
Fee and Financing:
You will be able to find out the fee charged by a college for MBA programs on its website. But instead of just considering the fee, you must take into account the overall expenses to be incurred, including accommodation, meals, transport, etc. and check whether it fits in your budget. If you need to apply for a student loan, a high-ranking college will make the approval easier. Some universities offer scholarships to deserving candidates. It will be beneficial if you find out about these and apply for the same within the stipulated time.
You may start with selecting a particular specialisation, college or city for studying MBA. This will make your search for the ideal Business School easier and more fruitful.