The patterns to avoid in selecting MBA courses
Masters in Business Administration (MBA), the highly sought-after degree of the 21st century, has become increasingly popular among graduates. According to a global survey by the Graduate Management Admission Council (GMAC), MBA is the preferred postgraduate course for business students in India. While there are thousands of institutes offering management education in India, only a handful provide excellent quality education, produce leaders, and are worth considering. Therefore, it is crucial for students to be cautious when selecting the right business school to enhance their future career prospects. Unfortunately, even intelligent students sometimes make mistakes in choosing a college, leading to regrets in the following years. Here are some common mistakes that students should avoid to ensure a better experience.
1. Following the Crowd:
Many students and their parents make the mistake of succumbing to the “herd mentality” and blindly following the choices of their friends or peers. Students often deviate from their true goals and aspirations due to influences from their social circle and family. Consequently, they end up joining a college and pursuing a course they have little knowledge or interest in, resulting in a crisis-like situation. It is important for students to reflect on their own needs and aspirations and make informed decisions at a young age, taking responsibility for their choices.
2. Lack of Specialization Focus:
Only a few colleges in India offer specialization courses, with the majority of MBA curricula focusing on general management in the first year. It is crucial for students to have clarity about their desired specialization. However, parental and peer pressure often leads students to make decisions without considering their own interests and skills. This can result in joining a specialization that they are not suited for, negatively impacting their early career. Students should take the time to understand which colleges offer excellent learning and placement opportunities in their preferred fields and choose their business school accordingly. It is important to focus on understanding personal strengths and selecting the right college and education program accordingly.
3. Excessive Emphasis on Campus and Facilities:
While Indian business schools often boast impressive campuses and facilities, it has been observed that many students place excessive importance on these factors. Along with high course fees, students are also charged for various amenities such as gyms, outdoor activities, and other co-curricular activities. While luxury amenities can be appealing, they should not be the sole basis for selecting a college. Students should look beyond these facilities and focus on factors such as corporate tie-ups, faculty experience, and study material to ensure a more enriching experience.
4. Getting Influenced by “Average Salary” Placements:
One of the key factors students consider when choosing an MBA institute is the placement record. It is important to understand the concept of “average salary” mentioned in college brochures or advertising materials, which represents the average of the lowest and highest salaries offered to students in the previous year. Students and parents should also consider the range of salaries offered to gain a comprehensive understanding of the job market. This information will help them assess the risks and rewards associated with their decision.
5. Falling for the “Higher the Fees, Better the College” Fallacy:
Many students hold the misconception that colleges with higher fees always offer the best courses and job opportunities. This misconception often leads students to take on significant student loans, burdening both themselves and their parents. It is important for students and parents to evaluate the Return on Investment (ROI) in terms of college fees compared to the minimum placement package achievable during the MBA course. This analysis will help them recover their education investment within a short period of time.
6. Overemphasizing “Experienced Faculty”:
The faculty at a college plays a crucial role in providing quality education. A good business school should have a balanced mix of experienced teachers with strong academic backgrounds and industry practitioners with practical knowledge. Students should prioritize a faculty team that combines teaching expertise with industry experience. If a business school only has teachers with no industry knowledge, students may struggle to apply the concepts they learn in practical scenarios.
7. Evaluating Internships and Industry Visits:
Most business schools include foreign trips and industrial visits as part of their curriculum. While these experiences are undoubtedly valuable, students should question the true benefits they will gain from these visits. It is important to remember that a student does not become superior to others simply because of a foreign industrial visit. Staying abroad for a week and visiting an multinational company may hold little significance if the student is ultimately placed in a local company in a sales role.
In conclusion, it is essential to engage in self-reflection and thoroughly research before making a decision about an MBA and choosing the right business school. Students should approach this decision wisely and practically, as it can serve as a significant stepping stone toward a successful and bright career in the future.
