Experienced members and IIM alums, I need your help.
347 out of 377 students had an engineering background. There was just 1 student from the Arts stream, and about 14-15 from Commerce and Science streams.
Whereas at IIMB, 90% of the students are from the same old engineering background.
Really, what kind of educational experience can an institute like this provide?
I'm from the Arts background (English Hons) and I want to do an MBA because I want to be an entrepreneur.
I thought that doing an MBA from a top college would make it easier for me to get access to a strong alumni network, while arming me with the knowledge I need to start off my own business.
But judging by the numbers, as well as the general "mood" of the people who plan to give the CAT this year, most IIM aspirants just want a nice pay package.
Its really hard to believe these very students would be interested in entrepreneurship. With a student body that is made up largely of engineers (no diversity), and that is primarily interested in getting a job, would it really be even a good decision to go to an IIM or any other top MBA school in India for that matter? Should someone from the arts background with a dream to be an entrepreneur even apply to the IIMs? Is the general "mood" at the IIMs even slightly inclined towards entrepreneurship, or are salary packages the only thing discussed around the college campus?
I liked your post, so decided to retain most of it in the quote. Before I comment about the diversity factor here is the first point:
You do NOT need an MBA degree in order to become a good entrepreneur. In fact, all the major successful ones are not MBAs. If people like Bill Gates, Steve Jobs, Richard Branson etc had run after MBAs, then organizations such as Microsoft, Apple, Virgin resp would never have existed. There are a very few people who have done MBA and gone on to become successful entrepreneurs. If you really want to become an entrepreneur, seek funding from a venture capitalist, angel investor, etc and implement your idea after thorough planning. I would recommend you go through the book The High Performance Entrepreneur by Subroto Bagchi. Just wanting to be an entrepreneur is not a sufficient reason to do an MBA. In fact 90% of the interviewees say that they want to set up their own business in future, but less than 1% of them actually do so or intend to do so.
Yes, almost all IIM aspirants want pay packages. But why only IIM aspirants? Doesn't everyone want a high paying job? Government employees want pay raise, private workers demand less working hours. In India, where majority of the people are still poor, a high paying job is a dream situation for many, so its natural that money is the prime driving factor for MBA. It may sound selfish, but its the truth.
Is MBA totally revolved around IIMs? There are many other options as well. Yes, IIMs are full with engineers. That cannot be changed unless a host of factors are changed. As long as all the best students continue to take up engineering, this situation will not alter.
But the situation is not entirely bleak. There are a few people in IIMs who are indeed interested in entrepreneurship, and they have done well too. The Entrepreneurship and innovation center at IIM-A has made remarkable progress in the past few years. Its not that everyone is mad after pay-checks. The situation is in fact worse amongst bureaucrats.
Finally, I agree with you when it comes to the Diversity factor. But as I said, as long as the best students keep running after IITs, the situation at IIMs will not change. Quote- The best students always target the best insitutes. In India, the premier institutes are IITs and IIMs, so irrespective of one's passion or interest, there is a psychological tendency to aim for these institutes. I do hope that the situation will improve in future.