Four Parameters Experts Feel That Students Must focus on While Selecting a B School

In their search for a good B School offering postgraduate management education, aspirants and their parents come across many institutions offering great placements with attractive pay packages, as though placements seem to be the one and unfortunately the only parameter for choosing a good institute. However, KHOJ, a 2023-24 exploratory study of what should be the top 4 factors for a great B School, lists the following 4 parameters that should be the topmost on every student’s list. 

Fee Structure

Students and parents often intend to shell out minimum on fees. Contrary to popular belief, the fee structure is a very important determinant of the quality of education. The fee structure for a Masters in Management Course, for instance, is determined by the Fee Regulating Authority (FRA) comprising a High Court judge, an IAS officer, Directors of Technical and Higher Education, Chartered Accounts and varied other learned people from the education sector. The fees vary every year, on the basis of the audited expenses submitted by an institute, which are closely scrutinized by the FRA. The fee structure is directly proportionate to the amount an institute spends on initiatives for student development. A close look at the fee structure among B Schools in Mumbai reveals that institutes like Welingkar, Vivekanand Education Society’s Institute of Management Studies and Research and Kohinoor Education Trust’s Kohinoor Business School have a higher fee, as compared to many other branded and much decorated B Schools, which means that these institutes put in a lot of effort on student development. Therefore, looking at the fee structure is an important step.

Accreditation

Accreditation from NAAC, NBA, SAQS et al indicates the caliber of a B School. Accreditation is accorded on the basis of academic delivery, research, teacher-student ratio, placements, national and international academic and industry tie-ups, alumni connect, student diversity etc. Hence selecting a B School that has received national or international accreditation is like signing up for the best of all the worlds. As rightly mentioned by a reputed accredited institute, “… accreditation symbolizes that the institution follows all relevant mechanisms, to ensure outcome-based learning as the approach for Quality Education, and maintains a positive and vibrant teaching and learning environment.”

National and International Collaborations

International exposure is another crucial criterion. Collaborations with institutes and industry bodies offer exposure to joint projects and help students become globally competent. Tie-ups with bodies in Marketing, Finance, HR, IT and Operations create opportunities to interact with industry professionals. Additionally, international collaborations enable students to participate in student exchange programs and internships. International study visits offer valuable lessons from practical situations, something students can never learn within the four walls of the classroom alone. Cross cultural exchange, team work and interpersonal communication are qualities that are topmost on recruiters’ list. Institutes like NMIMS, Welingkar, Kohinoor Business School and N L Dalmia Institute of Management Studies and Research, among others, have numerous industry and academic collaborations which students can partake of, during their course.

See it to believe it

Things look very different in a virtual tour. If possible, students should visit the campus of an institute, to assess the infrastructure, classrooms, library, canteen and other resources. Scan the notice boards to see what kind of activities are conducted. Meet the faculty, staff and students, to learn more about databases, certifications and add-ons. Look at recreational facilities, so that your educational journey does not become dull and boring. Find out whether the institute has provisions for education loans or scholarships. Read up student testimonials and reviews and scan the institute’s social media presence, especially LinkedIn. Meet the placement officer and placement team, to learn about the companies that visit for placements. Thus, a virtual tour can never give one the experience of a real one.