An MBA offers sound career progression, good pay packages and tremendous job satisfaction, stemming from the fact that you are in a position wherein you can make a difference in people’s lives. In a market marked by uncertainty and gloom, good jobs are pretty tough to come making an MBA a revered asset by the students. However, it is to be understood at the very beginning that getting into a top business school in India is not a piece of cake by any stretch of imagination. Every year lakhs of students sit for top management entrance examinations like CAT and MAT to secure admission in a quality management institute.
The competition to get into a good management institute is immensely tough and it is not uncommon for MBA aspirants to apply to at least 6-8 top level institutes to enhance their chances of making it to a top level business school. It makes sense as different business schools have different evaluation criterions and one aspect of your score or personality appearing less desirable to a particular institute may be highly valued by another good institute.
There are some lucky candidates who score exceptionally well in the management entrance tests as well as the GD and PI round. These MBA aspirants as such receive offer letters from more than one top rated institute. This is a happy and fortunate situation to find oneself in, though it sometimes poses a problem of plenty for the aspirants. A lot of applicants believe that once they have actually finished their applications much of the hard work is now over. But then the offers start coming in and they quickly realize that the necessity of choosing one program over others is as difficult as the application process itself. It is understandable as choosing a particular institute over another when both are equally good could lead to some anxious moments, and a feeling of apprehension that the final choice may after all not prove to be a prudent decision in the long run.
In the following paragraphs, we shall look at some of the important factors which can help your entire decision making process a bit simpler when it comes to the selection of a business school where you would be spending next two most important years of your life. Paying close attention to these factors and using them wisely as an evaluation tool could help you alleviate your level of anxiety when the time comes to make a final call.
Location of the business school
Suppose you are from Northern India and have offer letters from well-established business schools both from north and south. Under this situation, location can play a decisive role as you are most likely to opt for a management institute which is in Northern India given other important factors like placement opportunities, faculty, infrastructure, networking opportunities, etc offered by both the institutes are same. You can opt for Top MBA colleges in Uttar Pradesh to pursue your MBA if you feel you will be more comfortable studying at a place closer to your culture and cuisine. However, if two programs are relatively evenly matched in your opinion, but you want to try living somewhere far away, then maybe a program across the country, or world, is more up your alley.
Cost of living
Cost of living is another important factor you should consider before making a final decision. You need to consider the cost of living in each location and how is it going to affect your present financial status. MBA programs conducted by MBA institute in Lucknow or for that matter anywhere else are not known for being cheap. With a tuition fee exceeding a million rupees, you would be wise to choose a location which is not going to push you further into the debt. Can you afford the cost of living with or without loans? These things matter, especially if you have loans and the cost of living begins to compound. Return on Investment generated by top level business schools are generally on the higher side but you would agree that it makes no sense to add to your cost of doing an MBA, even if it is from a premier institute.