“7 things to keep in mind while choosing a b-school”
Date – 20th May 2021
Publication– India Today
Page view: 1,412,966
Author: Dr. Happy Paul
All MBA aspirants desire to get into a top-notch b-school. Of course, a wish list of b-schools is worked out even before applying to the CAT exam. However, the real decision conundrum is faced when the admission offers start pouring in. One may think that ‘more the merrier’ would fit in here, but that’s usually not the case.
Aspirants, especially in the absence of a clear preference and evaluation of a programme and school, find it difficult to make a choice. The decision becomes overwhelming in the case of offers from multiple comparable b-schools. The definition of best becomes relative and the final choice usually comes along with a trade-off.
In India, unfortunately, average starting salaries rank up as the top factor considered by MBA aspirants while choosing the b-school.
However, there are other more critical factors that should never be ignored.
Below are some strategies and suggestions on how to decide on a b-school:
1. In today’s business world, nothing is more valued than the required competencies to perform a given job successfully. These competencies are built through a well-crafted curriculum and world-class learning resources.
So, the first thing to look for in a b-school should be a cutting-edge and industry-relevant curriculum that meets global standards. It is worthy of mentioning here that, though not impossible, B-schools find it difficult to excel equally in all domains (areas of functional expertise) and thus maintain a focus on specific areas, or at least they are perceived to be strong in a specific domain. Therefore, it may be a good idea to see if the b-school’s strong area aligns with your career aspirations or not.
2. Next comes qualified and experienced faculty, a resource that facilitates knowledge acquisition as well as the creation of new knowledge. A b-school with a perfect balance of academic faculty along with active involvement of industry practitioners in the delivery of courses should be the ideal choice to ensure a satisfying learning journey.
3. One should also give weight to what kind of students join the b-school – diversity of the cohort (age, gender, educational background, work experience) ensures rich experience and a healthy competition required for holistic development.
4. The current pandemic situation has again highlighted the importance of investing in IT infrastructure to ensure seamless learning irrespective of what the circumstances may be. Therefore, a b-school with dependable IT infrastructure in terms of learning management systems, high-end communication tools and technology, and the capacity to handle disruptions would be ranked higher.
5. Ranking and accreditations are other criteria to gauge the standards of the learning processes and outcomes of a b-school. National (e.g., NIRF) and international rankings (e.g., QS) conducted by independent agencies give a quick snapshot of quality on a plethora of parameters. Also, a b-school accredited by AACSB, AMBA and EQUIS has clearly demonstrated excellence in education and is moreover an indicator of its willingness to be independently evaluated and openness for continuous improvement. Caution is to be exercised here not to get swayed by looking at some unsanctioned rankings.
6. Academic and career support is crucial but should not be only looked at from the lens of average starting salaries alone. Though from a financial perspective, ROI makes sense but the developmental and mentoring opportunities, accessibility of faculty and mentors, live projects and internship, and strong corporate engagement program with a great alumni network are something that should as well be looked at.
7. Lastly, concerns for student well-being are an under-rated but very critical aspect in current times. Opportunities for extra-curricular and sports activities, availability of emotional support through trained counsellors and adequate interventions/expertise to handle anxiety, stress, and other psychological issues, medical and healthcare facilities should be a sure item on the checklist.
The above-mentioned aspects provide a broader framework to evaluate a b-school and its offerings and would certainly help a student choose the b-school wisely.