How to Select the right B-school for You
Are you in a similar situation?
Step 1: Aced the GMAT Status (Done)
Step 2: Apply to B-school (Which one?)
Read on to find out how to shortlist your b-school
What are your chances of getting through to a particular school?
The GMAT does not leave you in a state of limbo or suspense. As soon as you finish the test, you know what is your score and using that you can make a realistic assessment of where you stand a chance of getting through.
If your score is 700+, you can take a punt at applying through all the b-schools that you have ever dreamed about. As the score decreases, you have to start strategizing. No-one will prevent you from applying to Harvard Business School with a GMAT score of 500, but all you will be doing is donating $250 to Harvard Business School.
Don’t fall into the Indian examination trap that a good score will guarantee you a seat in the high table of a b-school. All the top b-schools look for cornucopia of talent in a potential student of their school. Uni-dimensional candidates will NOT be preferred.
So if you are a Male, Engineer, Indian IT employee working in the same domain for 4 years, even an 800 score might not get you into Harvard or Wharton. Meanwhile an arts graduate, entrepreneur, social activist and a basketball champion might get into a top b-school with a 650 in GMAT. So, know your strengths and weaknesses!
Where you want to study plays a major role in you deciding which b-school you want to go to. You want to visit the United States, experience the culture and lifestyle and you have your Maternal Uncle who will provide you with food and shelter, you can choose a b-school there. If you want to experience the peace and serenity of Europe, look up some schools in the continent.
And finally, you hate getting jet-lagged and want to eat Indian food and live in an Indian surrounding, Singapore is the place for you. And you want to stay back in your motherland, ISB Hyderabad and Great Lakes Institute of Management Chennai are always there.
Of course, admits in some b-schools have to be accepted without any geographical constraints. The names you very well know
It is a given that a good b-school comes at its price. So you are looking at huge capital expenditure for your MBA. However there are some good schools, which are relatively cheaper. (Look for the How to fund your MBA article to get a lowdown on the costs).
Similarly, also look for cities which have a low cost of living which will help you substantially save up on your living expenditure. Case in point is INSEAD France vs INSEAD Singapore. Although the program fees for both campuses are the same, the living expenditure in Singapore is half of that of France which results in substantial savings.
Duration of the program:
Essentially this boils down to how much time are you willing to take off from your career for an MBA. Generally MBA programs are of two types,
1. One Year MBA
2. Two year MBA
Most of the reputed full-time courses in the USA are of two year duration. Their European counterparts are however, of one-year duration. Remember this, if you want to change your career after your MBA, look for a two year program as they offer you better opportunities to do the same.
One year MBA programs are tailored more toward professionals who actually help you move up the ladder in your own organization. So you might come as a senior developer and then rejoin as a Delivery Manager.
Want to know more about the B-Schools? Check out our B-School info page.
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