What will I miss out on if I don't get into an IIM?
What happens if I don’t get admission into any of the 5 old IIMs?
What should my next plan of action be? What will I miss out on if I go to another b-school like MDI, FMS, IIFT etc.?
Nandan Nilekani –
“I was very fortunate to have missed my IIM entrance exam.. I was looking for a job and walked into a small company where Narayana Murthy gave me one.. We shared a great relationship thereafter, and then, of course, Infosys began and the rest is public history. Had I passed the exam, I would have been a manager of a soap or any other company. I don’t think I could have got into Infosys after they had introduced the entrance exam.. Luckily, I got into Infosys before it was introduced.”
If you do not get into IIM, go for any other top college like XLRI, FMS, SP Jain, MDI and ISB. If not that, its still fine. There are many ways to be successful. Who knows it might turn out to be a blessing in disguise. 🙂
Member, InsideIIM Student Team 4 | IIM Kozhikode PGP 2018-2020 | Chartered Accountant
The B-school gamble is 50% brand name of your college and 50% the personal brand that you build up for yourself.
A lot of things matter when taking this decision of enrolliing somewhere. There’s no right answer. The obvious thing to say would be to target the best and keep striving for it. But let’s say you have high work ex, have personal constraints, are running out of time…then waiting for perfection might not be the best idea. You and you alone can assess your situation, weigh in your converts with data from valid sources and see if there’s any value addition in taking the plunge for a mediocre college vis-a-vis waiting to hit gold. In some scenarios, the wait might be worth the while. In some others, it may be fatal. You must also understand your own capabilities: will another year of studying yield significantly better results? If not, then why wait?
To be honest,the kind of corporate tie ups a tier 1 B-school will have can’t be paralleled by any tier 2 colleges. So yes, some prestigious management programs such as TAS, GMC, will be inaccessible to you if you don’t go to one of the top B-schools. But this is in no way the end of the world. Not everyone has to start their career at a BCG. What you do on the job is what will take you higher. So yes, besides a headstart, it does not make much difference. Also, in terms of companies, I have realized something after 4 corporate internships during my B-school journey so far: all that glitters is not gold. Nothing you see from the outside will tell you anything about the culture inside. At the end of the day, irrespective of your CTC, you would want to be part of a workplace that respects and values you. And finding such a company has little to do with an IIM and much more to do, initially, with your luck and eventually, with your capabilities.
As for pedagogy, yes there will be a lot more you can expect in terms of exposure, from any top B-school for that matter. SP Jain for example, is doing great things with Design Thinking. Similarly, each school will have its fortes and its shortcomings. But given that we live in the Internet era, I really don’t think this should be holding you back. There are premium courses and content online for you to excel in different management topics, irrespective of which school you went to.
So if the choice is between an IIM L and an MDI, I don’t think it should be something worth waiting another year for. But let’s say you have offers from tier 2 colleges or newly launched IIMs, in that case its important to access where you want to go with this degree and see if your aspirations will be set or not. Also worth evaluating is the worth that it iwll bring in financial terms, given how expensive management education is becoming nowadays. You do an MBA only once in your life, so make it count!
Member, InsideIIM Student Team 4.0 | 2nd year student of HRM & LR at TISS, Mumbai
I was in your place for a couple of years. I wanted to get into A/B/C/L and I thought I wouldn’t join any other college. Now that I have, here’s what I feel I am missing- “Bragging Rights.” That’s all. When you say IIM, even the clerk at your aadhar seva kendra understands what you are talking about. And that is it. You will miss out on the brand value you could have associated with you. However, at what cost? I have seen people choosing IIM Kashipur over MDI. Just for the tag. One of my classmates almost left XLRI for IIM Trichy.
But just because you don’t get that doesn’t mean you won’t have any experiences. I have been at XLRI for 4 months now and trust me, it’s a different experience. The chants of the XL Mafia and the terrorising lectures are something I have begun to love a lot. You will feel like you are settling for second place in the beginning. But trust me, it is anything but that! Every college will have an unique story, a unique atmosphere and a marvellous history. Look forward to that. Hope this helps.
Member, InsideIIM Student Team 4 | PGDHRM - XLRI Jamshedpur, 2020
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