An MBA is one of the most in demand professional degree in the world. This post graduate degree in management from a top level institute could give an altogether new direction to your career. Graduates from top levelare considered to be prized assets and big firms pay top money to get them on their payrolls. However, you must remember that an MBA degree is a big investment of time and money. You may have to shell out close to 1 million rupees or more for this two year professional degree program in management. This is the reason it is advised that a should be chosen with utmost care and consideration.
Good business schools offer a high return on investment meaning you can repay your loans and cost of investment in a fairly short period of time. Low quality B-Schools on the other hand neither have infrastructure or the faculty to offer quality management education to their students. An MBA degree from such institutes is not valued highly in the job market. The placement opportunities such management institutes offer are nothing much to write home about. Good jobs are hard to come by for graduates and life becomes a constant struggle. Low return on investment means that paying off student loans and other expenditures becomes a headache inducing tasks for students.
In a nutshell an MBA is a serious investment of time and money which means you should be extra cautious while choosing your business school. Getting admission in a second-string school is easy but getting a good job after passing out from such institutes is extremely tough. You need to make a decision taking various factors and criterions in mind like the reputation the management institute, the academic environment it offers, its faculty and its placement record among other things. If possible you can visit the campus personally to get a better hang of the business school. Interaction with teachers and students there and seeing all the facilities and infrastructure with your eyes could give you a better idea about the academic environment the management institute offers. This will somewhat ease your entire decision making process and you can take a final call with some assurance that you are making a good career choice for yourself.
Finding a business school that fits closely with your career goals, attitude, skill sets and aspirations is of paramount importance. You can contribute significantly to your own personal as well as professional development by taking admission in an institute which complements your skill sets.
It is important that along with the right ‘fit’ you also carry out a deep internal assessment of yourselves to find out where your interests lie. Jumping on the MBA bandwagon because everyone else is doing the same is likely to be a tremendous waste of your talent and potential. After all there is no pint in enrolling yourself in an MBA program if your interest, for example, lies more towards studying law.
Also,offered by a top school is not going to significantly differ from an MBA program being offered by another top quality business school. Top business schools are more or less likely to have the same core courses, from which students can develop their business vision. It somewhat shifts the onus on students to make the most of their opportunity to study in a quality business school. Of course top level management institutes have world class faculty and infrastructure to make the entire learning process as smooth as possible. In a nutshell we can say that there is little difference between two top level business schools; it is more up to you derive the maximum out of the program.
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Some of the top management schools in India including the much coveted Indian Institutes of Management (IIMs) offer admission based on your score in Common Aptitude Test (CAT). There are, however, some top level management institutes who offer MBA courses without CAT. What it means is that you have a realistic chance of getting in these quality business schools if you do well in other management entrance test like Management Aptitude Test (MAT).