Attending a business school is a serious business as candidates work hard for months to get a suitable CAT score and go through the rigorous selection process, which involves group discussion and personal interview rounds among other hefty and tedious tasks.
Evidently, when the goal is achieved, and candidates get into their desired school, the toil is all worth it. However, sometimes this process can leave candidates feeling disheveled and confused. One of the most important aspects of this process is the selection of a suitable school for oneself.
To make this process a bit easier for you, this article discusses the factors that must be considered when selecting a suitable business school.
Specialization: Specialization is the most factor when selecting a school. Candidates wanting to join business schools must have a rough idea about the field they wish to specialize in. Based on their choice of specialization, students must select the school.
However, students often tend to look at the reputation and name of the college as the determining factor. Although these help in gauging the return of investment somewhat, it should not be the finalizing factor, especially if it clashes with the candidates’ specialization interests.
Becoming an expert in a field of your choice and interest is key to a successful as well as a fulfilling career. The field a candidate is interested in is bound to take them a long way in their professional life. Marketing, Human Resource, Finance, Strategy and Consulting are some of the most popular MBA/PGDM specializations.
However, with the upcoming demand of MBA, specializations are also offered in many niche fields, including Digital Marketing, Branding and Entertainment, and Public Policy. With the plethora of choices, candidates can choose a specialization according to their interests and aptitude.
Infrastructure: On one hand, all colleges claim that they provide their students with the best facilities on the campus. However, the reality can often contrast the claims. Having comfortable infrastructure and facilities that are conducive to education and holistic growth is crucial.
These considerations can significantly affect the academic performance and overall development of the students. The lecture rooms, sound systems, internet facilities, libraries, and computer systems must be equipped with the essential technology to enhance the learning experience of students.
For residential students, hostel and canteen facilities, with appropriate safety and hygiene are important factors. In addition, ATMs, markets, hospitals, and other facilities must be at a manageable distance. Recreational facilities can help provide students with a respite from the exhausting curriculum of the business schools.
Teacher-Student Ratio: Teachers are one of the factors that shape our not only professional but also personal traits. Now, for the relationship between teachers and students to foster, the teacher-student ratio should ideally be low.
This allows teachers to interact with students in a more attentive and supportive manner. In a small class, professors would more easily understand the strengths and weaknesses of their students, and thus, accordingly help them enhance and overcome the same, respectively.
Additionally, a smaller classroom also allows students to be more outspoken and interactive with the professors.
International Accreditation: An international accreditation indicates that a program or an institute successfully conform to international standards. For management education, programs and business schools are rated by many international accreditation associations, including the EFMD’s European Quality Improvement System, Association to Advance Collegiate Schools of Business, and Association of MBAs.
Indian School of Business; IIM Ahmedabad, Bangalore, Calcutta, and Lucknow; as well as Management Development Institute are some examples of the business schools in India with international accreditation.
Fees and Return on Investment: The fees and return on investment are other aspects that must be considered when selecting a suitable business school. Getting an MBA that gives you fewer returns than your investment would not make sense.
The business school fee typically varies from INR 8 lakhs to INR 22 lakhs. The fees must also fit well with the estimated budget of candidates. Candidates must make an informed decision in consideration with various aspects of loan repayment, including interest calculation, terms and conditions, and payment.
The majority of the colleges would claim 100% job placements, and they may well deliver on that. However, the companies that participate in the placement as well as the offered packages are also the factors that must be considered while understanding the return on investment.
Accessing the placement reports and proper research before making a decision can help students get an accurate idea of the business schools.
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