With registration dates for CAT knocking on the door, the obvious question thus arises—is MBA beyond IIMs worth it? With the severe dearth in placement calls and massive crunch of jobs, is all this hassle worth anything? Here is all you need to know.
Even before we get into the specifics of the exam, let’s talk about something that MBA-pursuers will know better. Money is an important clause before joining any program in or around an MBA. A better way to judge this would be to assess the Return on Investment (ROI).
For a second, let’s keep the IIMs aside. The return on investment with regards to MBA programs beyond the top MBA institutes is abysmally low. Even if you aren’t admitted to the Premier institutes, your course fee would be north of 20 Lakhs Rupees. Add in the extra money required to be eligible for admission, such as CAT-based tuition fees, and it may go anywhere from 21-23 Lakhs.
Does the average applicant earn that much in the same duration of the program? Absolutely not. The average pay for a fresher after completion of degree would be a meagre 40,000-50,000 Rupees per month. Does MBA beyond IIMs still make sense? Yes. Hear us out.
Coming to the Premier Colleges, the case is almost the same, almost. Sure, some candidates get their 7-figure packages, but at the end of the day, even those are kept for the esoteric few. Being part of the IIM, itself does not cut it, you need to be the apex predator there too. Although students are spending just the same if not more, a massive number of candidates aren’t getting the benefit of the ROI. Do IIMs even make sense for everyone?
That being said, the number of candidates appearing for CAT exams to get into IIMs is unreal. While there are only 3000 odd seats, the number of candidates is well over 2 Lakh. Ask yourself—is this unhealthy rat race worth it?
Cracking an entrance requires sacrifices of all sorts. Mental, social, emotional, spiritual—you need to give up a lot in order to get a taste of the preconceived IIM glory. Ask yourself whether this is worth the IIM tag you may get.
Moreover, entrance exams are a hit or miss. You can prep all you want, but if you don’t perform in those exam hours, you’re done for another year. Why waste another academic year? Consider other colleges and their offerings, and here’s why.
There is no doubt about the stark difference in approach that IIMs and other MBA colleges take. In fact, if you look beyond the realms of MBA and IIMs, such as that PGDM program, you’ll notice one thing.
There is a vast difference in how management is approached here. A more industrial approach is taken here, as opposed to MBAs where a more bookish or theoretical approach is preferred.
Depending on how you solve real-world issues and look at industries, you’re free to choose either. MBA in itself is a great choice, but does it specifically have to be from IIMs? Furthermore, does it have to be an MBA? Whatever you choose, now you can’t go wrong.
Know more about IES MCRC PGDM Progam from here.
Know more about Advantages of IES MCRC PGDM Program from here.