Earning a master’s degree in management or MBA can be an astonishing milestone to achieve considerable progress in your career graph. This degree opens up new horizons of opportunities and plays a key role in the professional grooming of an individual. If you are keen to pursue an MBA program then here is a list of nine points you should consider while screening for an MBA college:
- Affiliation of Course/Institute: First and foremost you need to verify the affiliation history of the course or the institution because the MBA degree must be provided by the UGC recognised university. However, in case you are opting for the PGDM program then it must be approved by the AICTE. Probe carefully and don’t just fall for attractive offerings.
- Ranking of the Institution: Ranking of the institution is also one of the most significant criteria for selecting an MBA institution. You can refer to business magazines that publish annual rankings of various management institutions. Most importantly you should proceed with the institution’s NIRF ranking released by the Ministry of Human Resource Development, Government of India.
- Entrance exams accepted and admission merit: There are various entrance exams (i.e. CAT, XAT, SNAP, IBSAT, NIMAT, GMAT, MAT, etc.) which can lend you in the best management institutions of the country. Here in this step you have to check for entrance exams are accepted and the merit criteria of various institutions you have screened. For instance, IIMs prefer sectional cut-off in CAT for their admission merit while other esteemed institutions such as MDI, XLRI, etc. have criteria of considering overall CAT score.
- Program to adopt: In this step, you need to decide whether you would like to pursue an MBA degree or a PGDM program. You can filter out both the courses based on their pros and cons.
- Program fee structure: This point raises the question about the affordability of a candidate to invest for an MBA degree. Don’t lose hope even if you have a shortage because you can avail educational loan provided by various banks and other financial institutions.
- Placement record and Alumni network: We have already discussed that you have to invest a large amount of money to get an MBA degree. So in this step, you need to check for average, highest and minimum placement package of the proceeding batch. Data related to the percentage of students placed should also be kept in mind. In this manner, you can have the ideal picture of your potential return on investment.
- Faculty profiles: One of the most significant criteria for screening an MBA college is to get a glimpse of the faculty’s profiles. If you see an institution with highly qualified teachers which also has a rich industry experience, then it’s a green signal.
- Industry collaboration of the Institute: If the institution has industrial collaboration with any trade body (i.e. FICCI, ASSOCHAM, CII, ICC, FIEO, etc.) then it should be considered as an added advantage.
- Location of the Institute: In majority cases, candidates don’t consider location as the criteria for selecting an MBA college. However, it would be great if the institution is located beside any corporate hub because most organisations prefer nearby campuses for their respective recruitment derive.
In concluding remarks, we would like to say that the MBA course enables you to catch-up a large number of professional and personal growths if you choose wisely.
Written By- Deepak Sharma