Beyond the Money Myopia…..The Great Indian BSchool Debate Entry
Article to negate: http://insideiim.com/its-not-about-the-top-schools-anymore/
Indian Institute of Foreign Trade
Ashutosh A Deshpande
Being an MBA student from a premier B-School, I feel sad when people judge the quality of the institutions by their “average salary” of placements. Is MBA just a place where you enter with a mediocre job and below average salary and exit with fat pay-cheques to ensure a lavish lifestyle? Is it just the 12L or 14L CTC that we must see?
I would like to quote my Mergers and Acquisition teacher’s famous quote “Think beyond numbers” and would sincerely request my fellow brethren to disband the myopic view of looking at the Business Management course through the lens of placement packages.
Two years (or lesser) spent in a premier B-school is your experience for a lifetime. In the first 4 weeks of a B-school course of such institutes you will learn more than what you have learned during many years in your life. This is possible only when you are working with that kind of intellectuals- yes, I am talking about peer learning. In IIFT, when I get a chance to work and interact with Doctors, CAs, Commerce, Science and Engineering graduates, my level of understanding and learning is accelerated to a different level. Only, a premier B-school will gives you an opportunity to interact with such talented and diverse brains, handpicked from various parts of India. With plethora of competitions, industry oriented pedagogy, interactions with business leaders and hosts of events that a B-school organises- something which only a top notch B-school can provide- your persona is groomed with the utmost level of sharpness which helps you to acculturate and absorb the gruesome corporate life.
With no disregards to the Amity’s or IIPM’s of India, but we must understand that the type of learning you will get in the XLs, the IIMs and IIFTs are different from those who get admission into the former ones.
Looking at the arguments made by the author, is the 6L job a good proposition? The student may land up as a data analyst or a sales executive in a not so reputed brand where he may have lesser chances of climbing the hierarchy or even switching jobs. Plus does it match the ROI that a top b-school provides? If we find the present value of the 6L job and try to find out the time required for us to break even (considering the fees, expenses of MBA and cost of opportunity of earning lost), I am sure it will take more than 10 years of savings to repay it.
Is it difficult for an average student to enter into a premier B-school? The answer is a big NO. Look at me, I have never been in the top 10’s of my class in any of the years, passing with an average score in Engineering and did not possess any special skill to differentiate. Yet, it was my determination and hard work which lead me to where I am now. Today I am sitting with a Pre-Placement Offer from one of the leading brands. I would consider a tag given to oneself as “average” and “incapable”-is a red herring or an excuse to not work hard and reach your desired goal. Given the amount of choices and chances we have, it is our sheer hard work and perseverance that will land us in a premier B-school.
To conclude I would like to say that looking from the aspect of numbers or even from the perspective of the B-school experience, getting into a top B-school is imperative for any person who aspire to become a business leader and contribute something to the society. It is possible for any average student with modest background to crack the top B-school process through sheer hard work and perseverance.