Are you ready for B-Schools?

MBA & PGDM over a period of time have become a surety for decent employment. Those already working have found it essential to rise further in their careers. By Dr. Sumesh Raizada

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It is estimated that over 2.4 lakh aspirants have appeared for CAT in November 2018. Hardly 2-3 percent of these would be able to make it to the top ranking business schools while rest shall try their luck in other institutions.

Why Business Management is the most preferred option?

For last nearly two and a half decades, management program has gained immense popularity among fresh graduate and working executives alike. Since liberalization in 1991, there has been a shift in jobs from agriculture and manufacturing to white collared services. Several new careers have come up in IT-ITeS, Telecom, BPO, KPO, Retail, BFSI, E-Commerce, Travel & Hospitality, etc. These sectors demand workforce with good communication, leadership and business skills, which are normally inculcated in management programs. Thus MBA & PGDM over a period of time have become a surety for decent employment. Those already working have found it essential to rise further in their careers.

What to select – MBA or PGDM?

There is often a confusion in the minds of candidates, ‘Whether to opt for MBA or PGDM’ and ‘Which is better’. MBA is offered by universities and regulated by UGC, while PGDM is accredited by AICTE and is offered by autonomous or self-financing institutions. Both the programs are similar in structure and course curriculum. However, differences are often in terms of pedagogy and content delivery. PGDM colleges are considered to be more proactive to the changing industry requirements and are generally preferred by the corporate for campus recruitments.

Status of B-Schools in India

While there are over 3000 Business Schools, hardly 100 appear in the NIRF rankings of Ministry of HRD and not more than 250 appear in other All India rankings. This leaves a question mark on the quality of remaining ones.

How to select a good management institution?

While opting for an institution, following considerations can be made by the aspirants;

• Accreditations and Ranking - Institution should be AICTE or UGC recognized, which are the regulatory bodies of Ministry of HRD, Gov. of India
• Location - Should preferably be located in the metro and tier-I cities, close to industrial and commercial centers
• Program Fee and ROI – For lower ranking institutions, program fee of around Rs.7-8 lacs is reasonable for they are able to attract recruiters offering similar or higher salary packages
• Faculty – Their qualifications, experience and industry background should be an important consideration
• Alumni - They provide honest feedback about the institution
• Programs offered - The structure, electives and curriculum offered, should fulfill the current and future industry requirements
• Admissions process – In reputed B-schools it comprises of GD, PI as well as WAT & Extempore
• Business Incubator – B-schools nowadays encourage entrepreneurship and Startups through Incubators within the campus
   

Status of aspirants in India

While large number of aspirants want to get a business degree, very few assess their own competencies and aptitude for the same. Graduates from the arts, science, commerce as well as engineering streams are nowadays finding MBA as a gateway to assured and lucrative placements. However, they generally lack business and soft skills.

What can aspiring candidates do to get into a good institution?

B-school aspirants must do the following evaluation and try to improve wherever lacking;

• Goal identification – What you want to be in your career and life?
• Purpose of doing MBA – Why do you want to pursue MBA program?
• Understanding the Admission process – Eligibility and specific preparations required
• Strength and Weaknesses – Communication, Self-confidence, Leadership, computer proficiency, foreign language, previous work experience, etc.
• Business Aptitude, Subject knowledge and General Awareness – These are important from the perspective of GD and PI

If not MBA, then what?

Heavens are not going to fall if one doesn’t end up getting into a good B-school. Some of the options, depending upon the graduation streams, are;

• UPSC competitions, Defence services, PSUs
• Banking and Financial Services
• Higher Academics for teaching profession – BEd, Masters, PhD.
• Law, CA, MCA, ICWA, CS, CFA, etc.
• Short term IT course such as JAWA, SAP, SQL, etc.
• Data Analytics
• IT-ITeS, Telecom
• Media, Mass communication, Journalism
• Animation, Content writing, Freelancing, Digital marketing
• Event Management, Hospitality and Travel
• Retail and E-Commerce
• Entrepreneurship

 

About the Author: Dr. Sumesh Raizada is presently Professor (Marketing) at the Jagan Institute of Management Studies, Rohini, Delhi. He was earlier Dean for the PGDM and PGDM (Retail Management) programmes at JIMS. He is PhD, MBA and graduate in Electrical Engineering. He has nearly 30 years of experience of which 19 years has been in corporate mainly in the marketing, in M/s Crompton Greaves Limited. He has presented and published over 30 research papers, edited 2 books and has contributed 100 newspaper articles.