This post is addressed to all the MBA aspirants, to clear a few misconceptions that have percolated through, I don’t know how but they have. This article may not help you take better decisions, but will definitely help you ask the right questions and have a better idea of what’s going on in this world of B-schools. This is a totally qualitative post not based on any facts but on pure observation and judgment (being in a B-school for a year now helps).

Ok, simple question first up. Why do you want to join a B-school? No googly here, it’s for the money. Period. The pay packages that managers get are better. People who give answers like “to increase my knowledge base / to add value to my resume” should go see a shrink.

How does one pick one B-school over another? It’s mostly hearsay, coupled with some rankings given by online forums like Pagal Guy. But these rankings don’t reflect the whole picture. Each B-school has its flagship program which has better placements than the other programs offered. But when the rankings are done, the whole institute is taken as one unit. These forums should follow the ranking model used in the US where they have department-wise rankings of all the universities. Be it the placement figures or the faculty, it’s always department specific. Before joining a B-school enquire about the placements and the profiles offered with respect to each department.

What about placements? When we look at a B-school, all we’re interested in is the placement figures. How were the placements last year? What was the average package? What was the highest? These are the general buzz questions which are answered in every B-school’s website, and on online forums like Pagal Guy. What they don’t talk about is the detailed nature of the profiles offered (they just mention the sector-wise distribution), the weightage (sector-wise) given by companies to related or unrelated work-experience or the number of people each company selects. (they generally just give a list of all the companies that come on campus. Little do people know that some companies don’t recruit even a single student.)

The figures put up on an institute’s website are invariably inflated, and inflated in ways which are very tough to decipher for any outsider. Scale down each of those figures by 20-25% minimum to get the actual scenario. And the worst part is, every B-school is a part of this charade. Each one trying to top the other, in showing inflated, untrue figures, all in an effort to get the students with the better scores (who may not necessarily be the better students). Don’t just go on hearsay. It’s your career. Do a little more research. Take informed opinions. Talk to people studying in the colleges, people from the industry too, if possible.

How important is it to have good academic scores? Some institutes do not guarantee placement for students who do not satisfy certain academic requirements (having a minimum CGPA). Many B-schools chuck out academically poor students too. So, for all those who think that cracking the CAT is the final frontier, think again.

How should one prepare? Extremely subjective! Do what works for you. There’s absolutely no standard template for success.

What’s the one most important thing that one should know? For the interviews, knowing the current trends in the industry is important. But having a good answer for the “Why MBA?” question is the most important thing. Again, there is no one answer to the question that fits all. You have to think for yourself and find an answer for yourself. Once you know the answer – and it is a genuine one- it will give a boost to your overall preparation.

So, if you are preparing for an MBA degree, plan well, and do your homework. If you do that, you should have a happy and a fruitful journey getting your MBA degree.