After long deliberations and consultations, you have finally decided that it is going to be MBA for you. Arriving at a definite conclusion as to what you wish to do with your career is only half the job done as there are a lot of questions that will keep forming in your head at various stages of your MBA application process. It is usual for any MBA aspirants to have hundreds of questions and queries that demand satisfactory answers before you embark on your journey of studying management. It is important that you find adequate justification for pursuing an MBA program before you make a final commitment.
An MBA is a serious investment of time and money and failure to justify your course of career choice without a valid return on investment (ROI) is going to invariably land you in a soup. You need to be absolutely clear about your admission process and your priorities if you really wish that the MBA degree you attained possesses the capability to serve its intended purposes. There’s the all-important question of selectivity (Can I get in?). This is not hard to decipher as best management colleges in Mumbai or for that matter, top quality business schools anywhere in India have a very intense and rigorous admission procedure. First and foremost you need to score high in competitive management exams like MAT and CAT, and then you have to do extremely well in Group Discussion (GD) and personal interview (PI) as well. This is not as easy as it sounds but you can definitely make with the right amount of sincerity, dedication, self-discipline and hard work.
Then there are other important questions as well you have to spend some time and resources looking for answers. As a student interested in pursuing an MBA, you also need to contend with questions like affordability (Can I pay for it?). This is another major concern of MBA aspirants as MBA program in India or for that matter anywhere else in the world is known for being on the higher side of the expense spectrum. You are highly unlikely to come across a management school in India whose tuition fee does not run into several lakhs of rupees. The majority of the students can ill-afford that much tuition fee and invariably have to look for education loans to finance their expensive MBA program. The problem of high tuition fees is somewhat justified if you are studying in a top-rated business school as best in class management institutes offers education and expertise to equip their students with skills and business acumen which can help them tackle issues that matter, issues that are redefining the global economy.
The end result of such an advanced and market-relevant education is that graduates of such top-rated business schools are considered a prized asset in the marketplace with large and reputable corporations more than willing to pay them astronomical salaries to hire their services. Top business schools as such offer rapid ROI allowing their students to recover their cost of studying within two to three years of joining the workforce. Top of the line business school generate an exceptionally high rate of returns but the same cannot be said about inferior quality management institutes dotting the Indian education landscapes like maggots. These bottom rung institutes neither have the expertise nor the desire to provide their students with an education that could enhance their employability factor in the job market. You need to be acutely aware of their nefarious designs as they are just in the business of making some quick money and do not care an iota about what happens to the career aspirations and prospects of their students.
Then there is the question of the location of business schools and your probability of you adjusting quickly to the prevalent culture. For example, a person from Western India may feel a bit hesitant about traveling to another part of the country. This though, should not pose much of a problem as they can seek MBA admission in Mumbai which has quite a few top-level institutes fully capable of giving you an MBA program that transforms you into a leader the modern business environment requires.