As CAT 2023 ends, it's time to fill out forms and make decisions to choose a business school. Picking the right one can be tricky, so thorough research is key.The most important way to select a school is to decide on a framework to judge all of them out there. Should I choose IIM Kozhikode over IIM Indore? Is XLRI better than SPJIMR? Is MDI HR better than TISS HR? How do you decide between all the options out there? Here are some of the most important factors to keep in mind when you sit down to take a call:
Peer Group: Almost all B-Schools have a strong culture of peer-based learning. Rather than the teachers force-feeding you theories and concepts, class participation is made mandatory so that students learn to dive deep into the subject and ask stimulating questions. The better the peer group in your college, the better your learning will be. So check out the kind of peer group colleges have. Usually, they mention this in their pre-placement infographics that they put on LinkedIn. Pro-tip: Follow all good colleges on social media. It helps give you some perspective.
History of the Institute and Fees: Check the institute's history and dig up the news about them online. The older and more successful a college is, the better their Alumni network will be. In some cases, exceptions may be there, especially with the new IIMs. But on a broader note, this does hold. Look at the fees. While it’s very easy to get an education loan from banks, there are colleges out there that are pretty good and have very low fees. People have left old IIMs to go for an MBA in FMS, Delhi because the investment is much less.
Placements: Go through the placement reports of the colleges from the past two years with a fine comb. Do the companies visiting campus meet your expectations? What is the median CTC offered? Make sure to see the range of packages offered and the primary industry the companies belong to. It will help a lot to align the college with your preference vis-a-vis marketing, finance, ops, etc. This will also help you decide on your ROI (Return on Investment). Brand name in the industry is different from how we perceive it. Apart from that, if there’s a gap between the number of students and the number of students placed then it is a red flag for the college.
Faculty: Go through the faculty list of the departments you are interested in. Look at the credentials of their faculty members. A great set of faculties can take the institute to places. It is important because MBA is mostly based on case-based pedagogy and experiential learning mechanisms. Not having good professors would not add much value to your profile afterward.
Infrastructure and Campus Life: A great hostel life, a well-maintained library, and a self-sufficient campus with everything available inside are important for you to have a great campus life for the next 2 years of your life. And trust us when we say, the most unforgettable two years of your life.
Location: If colleges clash on all these parameters, then look at the location of the colleges. The better the location, the more easily accessible it will be. This plays a vital role when it comes to placements, conferences, quality of life, and other things such as ease of road trips.
To sum up, after CAT 2023, choosing the right business school is important. To make this decision easier, follow the checklist. Look at the quality of the peer group, the history, and fees of the institute, and check placement reports for companies, salary info, and industry focus. Check the credentials of the faculty, as good professors make a difference. Consider campus life and infrastructure, as they impact your two years in the MBA program. If all else is equal, think about the location for accessibility and overall quality of life. Making a smart choice based on these factors ensures a positive and fulfilling B-School experience.