Beyond the MBA Hype

Trying to answer Why, How and What for MBA

WHY MBA?Introspection to check what we really want

Why MBA?

Career: Change of career Change of function in the same industry Change of industry Change of geography

Knowledge: Beyond the undergrad education Network: Friends in B-school Second MBA degree: If your first didn’t help as much :P Money: Increase of package Others: Sabbatical, Startup

3 Steps to an MBA

Identify and prioritize your individual needs Evaluate if you want to seriously go into MBA or a simpler alternative would

work as well If convinced you want an MBA, go for the school that maximizes your

chance of achieving your goals Keep expectations from B-schools realistic

If you can’t get into a good B-school, take some time off and go back to step 1 Re-explore alternatives to reach your goal than go for a mediocre B-school

Useful alternatives Knowledge:

Books Internet Certifications subject specific courses Online/ Correspondence courses

Career change: Volunteering Join a startup

Networking: Clubs Online forums Golf/ common hangout

Money: Investments Launch a business

What skills can’t be gained through B-school Leadership Common sense Control/ process control Practicality Creativity/ innovation Judgement Foresight Decision making Interpersonal skills/ relationship management Real-life experience Negotiation skills Emotional intelligence

Introspection

Where am I right now professionally and in personal life? If I continue with the present flow, where will I be 5 years from now? What do I like about my current job and what do I hate? If any of the above really a problem or just exaggeration from my

mind? Is my current job something I see myself doing the next 10 years? What are the hobbies I truly enjoy? Is it practically and financially

feasible to take a career in any of these part/full time? What do I really want? Money, Career change, Intellectual simulation,

promotion, change of geography, new skills, new qualifications?

Introspection

Have I seriously explored all other alternatives that can make me reach my goal? Why have I discarded each of the above options? If each of these can’t help me

individually, can a combination of these help me achieve my objectives? What’s my current financial position? Am I depending only on a single source of income? Do I have supplementary

courses of income (stocks or other investments)? What are the implications if my primary course of income stops for a couple of

years? Do I have any other important financial investment that are coming up in the net

couple of years (house, marriage, parents’ health)? Am I simply facing burnout? Will a nice vacation help me rejuvenate myself? Why do I want to pursue an MBA? Will it help me get where I want?

HOW MBA?How to get into the best program we wish for!

How to improve your profile for top B-schools Business sense: Basic understanding of how businesses function Intellect: Academic grades, GMAT scores etc. Communication skills Creativity

How to get into the best MBA programs? Be part of an exclusive club: the job you are in or the institute you

come from has a tough recruitment process Take on responsibilities that your peers can’t/ won’t: Get exposure by

volunteering for special projects that have strategic importance for you/ company management

Have a life outside work: Sports/ social causes etc Show EQ as well as IQ: Show maturity, professionalism, modesty etc

How to choose the right country for MBA? Become familiar with the VISA regulations within the country

Some countries have work permit restrictions after job See if your international MBA has value back in India

Economic downturns: Makes job difficult to get after MBA, stiffens competition for B-school entry

Selecting the right B-school

Check the MBA rankings of B-schools Build a list of parameters important to you: geography, duration,

career goals, target companies, class size, avg age, avg GMAT score, brand

Find details of all B-schools: culture, electives offered, school strengths, industry connections

Join some MBA forums and read/ post questions Talk to current students, alumni and placement officers

Indian v/s International MBAInternational MBA Indian MBA

Median Age 26 (USA), 30 (Europe) 22Average work ex 5 0-1Pre-MBA qualification Graduates (engineers,

CAs)Graduate and Post grad (various disciplines)

Primary Industry IT, Finance VariedEntrance Exam GMAT (+TOEFL) CAT + more institute

specific testsIndian pool Second highest applicant

pool is Indian (after US)Mostly Indian

B-school selection process Importance given to ‘fit’ with the B-school (role specialization, post-MBA career options etc.)

Reputation of B-school is primary criteria, concept of ‘fit’ doesn’t exist

Indian v/s International MBAInternational MBA Indian MBA

Admission process Equal importance for GMAT, Essays (3-10+), Reco (2), CV, Interview

Predominantly CAT based, GD/interview given lesser importance

Programme duration US – 2 yrs, Europe, Asia, Australia, Canada – 1 yr

2 yrs

Cost 1 Yr (30 L), 2 Yr (40-75 L) 5-20 LClass Profile Highly diverse, multiple

nationalities and industriesMainly engineers (IT)

Teaching styles Case studies, lectures, emphasis on practical aspects, experience sharing within peers

Predominantly conventional classroom style, little exp sharing

Recruitment process Independent initiative by students, B-school plays min role

B-school gets max students placed through on-campus placements

Post MBA careers Lateral placements – pre-MBA skills to be leveraged

Fresher level jobs – pre-MBA exp effectively irrelevant

9 Top B-schools in everyone’s radar

Harvard Stanford Wharton MIT London BS INSEAD ISB IIMA NUS

MBA Application process

Choosing a B-school: Mutual Fit Do I have the qualities that this B-school looks for? Will this school meet my objectives? What will I give back to the class and the school?

Profile evaluation: Everyone knows IIT, so no worry What are B-schools getting?

Better stats, Application processing charges, Reputation, Best students

MBA Application process

MBA Application components GMAT: 700+ score needed for top 20 B-schools, 650+ for top 50

Analytical writing assessment: 30 mins essay graded 0-6 Integrated reasoning: 12 questions, 30 mins, score 1-8 Quantitative section: 37 questions, 75 mins Verbal section: 41 questions, 75 mins

TOEFL: depends on school if this is required or not, given Eng medium education; valid for 2 years

Essays: Customized according to the B-school applying to Recos: One current + one recent, or one recent + one academic Interview: Basically to check mutual fit of candidates Schols: Not many, even if there only cover partial education

INSIDE MBA?What to expect from an MBA

Teaching and Evaluation techniques

Lectures/ Presentations: Usually have participation marks Case Studies Individual Projects Group assignments Guest Lectures Industry tours

Courses taught

Core courses Accounting: Understanding company performance metrics Marketing: How to make product attractive for buyers Finance: ROI, investment strategies HR/ Organizational behavior: Organizational structure, motivation Economics: Drivers of growth in an economy Risk management: How to avoid financial losses (hedging) Corporate governance: Accountability, role of board IT: Using computers to improve business Operations management: How to improve efficiencies, quality in process Statistics: Excel, simulations, statistical inference Strategy: Where are we versus competitors, collaboration/ buying/ selling

Courses taught

Electives Specialization: Similar to IIT, do a few more courses in an area (subject to

GPA) Star professors Certain industry everyone is running behind (saturated line)

Performance evaluation Individual submissions Group presentations Written exams

Skill gain

Data analysis/ info processing Multitasking Theoretical foundation Communication skills Modelling simulations Planning

Networking

The obstructions Class size Workload Attitude: ego-clashes Paranoia: Some companies may take less from same school fearing brand

dilution (for some others the reverse may be true) Strain on personal relationships: Less time to talk to family etc

Special interest groups: Similar to IIT, used by people to boast about in their CVs if they facilitated/ participated

Internships/ Career Hunt

Self-driven rather than college Business cycles/ economy state plays a good part Career change:

Technology: Coding skills are still paramount, MBA is icing on the cake Investment Banking: Corporate finance + Sales & trading Accounting/ Assurance: EnY, PWC, KPMD, Deloitte Management Consulting: McKinsey, BCG, Bain HR Philanthropy/ Non-profit Private Equity/ Venture capital

THANK YOU!Hope it’s sorted out now