Life at a new IIM…

“ You have been selected for the PGPM programme at Indian Institute of Management Rohtak ”.
These were the words in a mail I received on 28th May 2010 while I was working on the internet in a cyber cafe. My immediate reaction was of utter joy and disbelief at the same time. I read the mail again, and indeed I had made it to an IIM, a dream I had been pursuing for the last two long years. It felt like the fruition of all my hard work and effort over the last two years. It was without a doubt the best day of my life so far.
However, there were still some difficult questions before me. I had converts from lots of other established and reputed B-Schools including MDI, IMT, and NMIMS. I had to choose whether to go for an established B-school, or to bet on a new IIM with no history behind it. There were some fears initially about the quality of facilities, both infrastructure-wise and academically, that the first batch would get. With no alumni or seniors to support us, it was going to be a journey on uncharted terrain.
The first few days at the campus were quite hectic, with lots of classes, guest lectures and other such activities. The faculty, all world class with many of them being internationally reputed names in their areas of expertise, made us feel comfortable and at home. The learning environment all along was excellent, with some of the brightest brains in the country exchanging ideas and discussing management concepts. It was a pleasant surprise to know that three of our batch-mates had CAT percentiles in excess of 99.90.
The best thing I felt there was the sense of camaraderie amongst the batch. We have always stood by each other in thick and thin, and have helped each other in all possible ways. We crossed all barriers in trying to help each other .I personally made some great friends here, who I believe will remain so lifelong. All in all, it has been truly wonderful to study with such a great group of talented, enthusiastic, and lively people.
Weekends provided some opportunity to play sports. I started playing tennis for the first time here, and have enjoyed it thoroughly. We regularly organized sporting events in our campus, starting with RunSangram, a cricket tournament on the lines of the IPL. Apart from that, we organized tournaments for many other sports including Carom, Chess, and Table tennis, and all of these attracted the attention of the entire batch. We had loads of fun during these, and the camaraderie between the batch has been further strengthened by these events. Yours truly got the honour of being crowned the table tennis champion of our batch.
Time has flown by very fast , and the winds of change have swept all of us. I had some fears and suspicions at the time of joining this college, but now I can honestly say that it had been one of the best experiences of my life.

Manish Kumar Verma

PGDM, IIM Rohtak

Mentor: Quants & DI/LR, Erudite

Advertisements

Six Tips for Women Who are Considering an MBA

Thinking about an MBA? If so, you aren’t alone. Last year more than 50,000 women took the CAT with their sights set on graduate management education, which offers a tremendous channel to access greater professional opportunities, increase your earning potential and strengthen your network. Here are tips for women to improve your success both in the MBA application process and in business school:

Define your career goals

For many young professional women looking for a career change, business school seems like the perfect pathway to make the transition. The MBA provides two years to figure out what’s next. Well, not exactly. In reality, the whirlwind of business school internship search begins shortly after arriving on campus. Not having clear goals will make finding a job more difficult and may lead you to ‘follow the herd’ of your peers to industries and internships that don’t position you well for your professional interests. Take the time now to define your short-term and long-term career goals. Consider the industries and jobs that you want as well as the impact that you want to make in your career. This will prepare you for the MBA job search and also strengthen your MBA applications

Take a quantitative course

If you don’t have a quantitative background, such as undergraduate studies in business, engineering, or math, consider taking some additional coursework now. Suggested classes include statistics, finance and calculus. The course provider is not important – you can take an online, community college or college course. Check with your target schools to identify the course subjects that they recommend. And get an “A” in the course to demonstrate your readiness for the quantitative rigor of an MBA program.

Cultivate long-term relationships at MBA networking events

Overwhelmingly, MBA alumni cite the network that they developed as the most valuable aspect of the business school experience. Building MBA relationships though should not start on your first day of school, but long before that, during the application process. Schools host networking events that enable prospective candidates to meet school representatives. Avoid focusing completely on gathering information to aid in the MBA application process; take a longer view of these interactions. You are attending these events to find the MBA community that you will join for life. Many of these relationships will extend well passed the MBA admissions decision, which is real advantage for women, who tend to build lasting relationships.

Use all of the resources directed at increasing women in MBA programs

Women are underrepresented in MBA programs as compared to men. Business schools and non-profit organizations, like the Forte Foundation, offer events, mentor ship opportunities and programs to encourage more women to apply to MBA programs. Take advantage of these initiatives to meet MBA admissions officers, strengthen your MBA candidacy and determine which schools offer the best fit for you.

Don’t rely solely on women’s events though. Likely 60-70% of the students in your MBA class and more than 70% of your school’s alumni will be male. Leverage the entire MBA community in the application process.

Believe in yourself and your ability to thrive in business school

As you meet MBA candidates with amazing backgrounds you may be tempted to second guess your ability to get admitted or to be successful in business school. Reject this thinking by focusing instead on your strengths, your unique attributes and what you can contribute to an MBA community. Schools want candidates from different backgrounds with diverse professional and personal experiences. Determine what makes you distinctive and showcase that in your MBA application.

Save your money

Business school is expensive – two years of tuition can run you more than Rs20,00,000. You will be able to access scholarships and student loans to cover the cost of school. But there is no special financing available for covering the cost of getting admitted to business school. Expect to invest Rs 10,000-Rs 20,000 for application expenses, including the GMAT, a test prep course, application fees, and travel expenses for campus visits. Save your money and reduce your living expenses now to cover your impending business school application expenses.

 

Source :- topmba.com

Lifestyle Changes to Make While Doing Your MBA

Life goes through phases and moving higher up on the education front comes with its own set of amendments, these could be serious changes to your lifestyle or simple ones if you already lead a good one. These changes are not obligatory but implementing them may benefit you tremendously, your goalpost of an MBA could seem closer than anticipated! You can treat the lifestyle deviations stated below as a precaution or prerequisite before thinking of doing a genuinely successful or a must-start-instantly-life program to make your currently pursued MBA fruitful.

Setting a Sleeping Pattern

Your sleeping pattern and time table can significantly affect your output while studying. MBA may not require you to read all the time but practically require you to be on your computer for projects, thesis and assignments. Hence, fix a good sleeping time. Make it a regular affair for at least one month. All you need to wait for is your body clock to set on its own, irrespective to the pattern you follow make sure you get an adequate amount of sleep, roughly a 7-8 hours minimum to operate at optimum levels.

Reducing Junk and Food From Outside

This may sound a little abstract and derived but cutting on junk foods is essential for a healthy lifestyle that will help you function more healthily. Eating outside food proportionately increases your chances of procuring germs through it and increases chances of you contracting food-borne diseases. Food borne diseases last really long giving scope to a reduced time at the study desk. Maintaining a good health is essential for uninterrupted success at study.

Organizing the Day

Just like how a time table organizes and imparts the ability to the college to teach many subjects in one day, you should make a daily time table for yourself, dedicating fixed hours to study, practical, leisure, sleep and food. Do count in additional time for unexpected or urgent chores that may come knocking to disturb and probably ruin your schedule for the day.

Entertainment with a Meaning

Reading this will make you think we are just pushing your limits by suggesting such learning gimmicks but trust us when it comes to giving great tried and tested tips. While running on the treadmill switch on the news channel, listen to National Radio and their learning programs while jogging on the seafront in the evening, or probably watch the educative movies when bored of studying. A successful MBA is an art, an art of acquiring an edge, a competitive edge over your competitor.

Incorporate these changes in your daily lifestyle and continue them for a month till they are drilled in your daily life and body life-cycle. This is tough no doubt, but the rewards will be worth it.

 

source :- mbaupdates.com

GD out, excellent communication skills and case-study analysis in at NMIMS

SVKMs Narsee Monjee Institute of Management Studies (NMIMS), is going to herald in big changes in its admission process for the 2013 batch. Besides doing away with the conventional ‘Group Discussion’ (GD), it is planning to introduce additional elements in its online entrance test – NMIMS Management Aptitude Test (NMAT) 2013.

 

 Dr. Rajan Saxena, Vice-Chancellor, NMIMS, said that the institute has been experimenting with the GD for two years and this year the changes will be cemented. “We moved away from the typical GD method and introduced the case-study one. We have seen over the years that a traditional GD throws up the same set of students.Those that come in after getting trained at coaching institutes. They all behave and speak in an expected manner. We wanted individual capabilities to come to the fore and the case study method allows it,” said Dr Saxena.

 

In this rather different kind of a GD, aspirants are given a case study to analyse and then discuss.” This method, helps us unearth characteristics such as logical thinking, decision-making, leadership and data analysis qualities in the aspirants,” added Dr Saxena.

 

Additionally, the term ‘GD’ will also meet its end this year and a new term, something on the lines of ‘Case-study discussion’ will be used at NMIMS.
 
 
Another big decision that NMIMS has taken, is to look at communication skills of applicants more keenly.” We believe that proper and efficient communication skills are very important to excel in corporate life and we will particularly look at them when admitting students,” added Dr Saxena.
 
 
One more big shift that NMIMS is working on is to add an ‘ethical’ dimension to the written test. “We have not fully thought through it but we are speaking to Pearson VUE. The plan is to test candidates on ethical decision making. Aspirants will be given typical corporate problems and asked to take hypothetical ethical decisions .” Dr Saxena disclosed.
 
It is the same story everywhere. B-schools tweaking admission procedures to increase diversity (read more non-engineers and women candidates.) “Next year we will come up with some more changes in the exam pattern to bring in additional diversity,” hinted the Vice-chancellor.
 
 

Registrations from NMAT 2013 have opened. Like last year, students will be be able to take the online test in a window period of about one and a half months from October 11 to December 19, 2012 with a choice of two retakes. In the cases of retakes, the best of three scores shall be considered for admissions to all the MBa programmes by the NMIMS institute at its Mumbai, Bengaluru & Hyderabad Campuses. NMAT 2013 will be conducted at 18 centers across the country.

Source :- pagalguy.com

B-schools ranked 1-25 (non-IIMs) to offer 4531 seats in general category. (All campuses)

 By :-  Shashank Venkat and Astha A

Photo courtesy: kevin dooley (www.flickr.com)

 

Amongst the major changes,  XLRI, Jamshedpur has applied to the All India Council for Technical Education (AICTE) for an increase in the intake in its Post Graduate Programme in Business Management (BM) and Post Graduate Program in Human Resource Management (HRM) by 60 seats each. This would increase the total intake of the institute from 240 to 360. However, this is subject to an approval from AICTE, which is pending.

 

Institute

No of seats

No of seats (2013-15)

Fees structure (2012-14) (in Rs for two years)

Fees structure (2013-15) (in Rs for two years)

5. ISB (Hyderabad, Mohali)

(Mohali campus not in top 25)

770

770

23,76,414

23,76,414

6. XLRI (Jamshedpur)

240

May be revised later

12,00000

12,00,000

7. FMS (Delhi)

226

226

21,000

21,000

10. IIFT (Delhi, Kolkata)

207 (Delhi – 150, Kolkata – 57)

May be revised later

13,00,000

May be revised later

11. JBIMS (Mumbai)

120

120

1,99,300

May be revised later

12. SJMSoM, IIT Bombay

120

120

8,98,902

8,98,902

13. SPJIMR (Mumbai)

240

240

9,50,000

9,50,000

14. MDI (Gurgaon)

335

May be revised later

12,00,000

May be revised later

15. NITIE (Mumbai)

274

274

6,00,000

6,26,000 (increase)

16. NMIMS (Mumbai)

300

360

10,20,000

12,00,000 (increase)

NMIMS (Bangalore)

(not in top 25)

120

120

8,00,000

9,00,000 (increase)

NMIMS (Hydrabad)

(not in top 25)

60

60

8,00,000

9,00,000 (increase)

16. SIBM (Pune)

 

180

180

10,00,000

May be revised later

18. IMT (Ghaziabad)

480

480

12,70,000

12,70,000

IMT (Hydrabad)

(not in top 25)

180

240 (increase)

10,15,000

10,15,000

IMT (Nagpur)

(not in top 25)

360

360

10,15,000

10,15,000

19. MICA (Ahmedabad)

180

180

12,00,000

May be revised later

20. TISS (Mumbai)

60

60

1,00,000 (without hostel)/2,00,000 (with hostel)

May be revised later

21. DMS, IIT Delhi

115

115

4,24,000

4,24,000

22. VGSoM, IIT Kharagpur

160

160

6,80,000

6,80,000

23. XIM (Bhubhaneshwar)

300

300

9,00,000

9,00,000

24. SCMHRD (Pune)

200

200

9,80,000

10,40,600 (increase)

Of the top 25 b-schools (exclusing the IIM’s), ten institutes have reservations. These include:

FMS, Delhi – Out of 226 seats, 112 seats are reserved (49.5%). The percentage of reserved seats for NC/OBC is 27% (61 seats), for SC it is 15% (34 seats) and for ST it is 7.5% (17 seats).

IIFT, Delhi & Kolkata – 23% seats are reserved for Other Backward Class, whereas for Schedule Castes it is 15%, 4% for NRI and Schedule Tribes it is 7.5%. This leaves 102 seats under the reserved category.

JBIMS, Mumbai – 19% seats are reserved for other backward class, whereas SC has 13%, ST has 7%. Overall 60 seats are there in JBIMS for reserved category.

SJMSoM, IIT Bombay – OBC and NC: 27% (32 seats), SC: 15% (18 seats), ST: 7.5% (9 seats)

NITIE, Mumbai – 27% seats are reserved for Other Backward Classes, whereas for Schedule Caste it is 15% and Schedule Tribe it is 7.5%. This leaves 137 seats for the general category.

SIBM, Pune – As per Symbiosis International University (SIU) regulations, 15% seats are reserved for SC, 7.5% for ST and 3% for differently abled. There are also two seats for Kashmiri Migrants (children of migrants from J&K; valley) and 15% seats for International students. This makes the total number of reserved seats 75.

TISS, Mumbai – Of the total 60 seats, 49.5% (30 seats) are reserved.

DMS , IIT Delhi – Of the total 115 seats, 49.5% (57 seats) are reserved.

VGSoM, IIT Kharagpur – Out of a total 160 seats, the general category has 79 seats. This leaves 81 seats in the reserved category.

SCMHRD, Pune – As per Symbiosis International University (SIU) regulations, 15% seats are reserved for SC, 7.5% for ST and 3% for differently abled. There are also two seats for Kashmiri Migrants (children of migrants from J&K; valley) and 15% seats for International students. This makes the total reserved seats 83.

 

Source :- pagalguy.com

10 Questions you should ask before joining a Business School in India

Ask these 10 questions and there is a good chance that you will not make a mistake while choosing a business school in India.  Hopefully, answers to these 10 questions will help clear all your confusion.

Do not blindly trust students from media cells or PR companies commissioned to promote business schools. It is their job to create a rosy picture. If you do not have enough credible data on all these points listed below or if the business schools and students refrain from sharing details, you need to be even more discerning.

1) What is the background of the faculty?

It is often the least researched aspect by potential students in India since placements gloss over everything else. However, quality faculty is the single biggest reason that makes a business school truly worth the investment. You should scan their profiles and see where they’ve earned their Doctorate from or which companies they have been associated with. It would be unfair to paint everyone with the same brush but it always helps if professors have been in the industry or have done research at top universities. There are plenty of professors  in some of the top schools in India who have very questionable backgrounds.  However, always check with alumni and current students too!

2) What kind of profiles are offered and what kind of companies visit the campus for recruitment?

Asking for salary figures and 100% placements is the worst way to choose a business school. We will come to that later. But, you need to ask the right questions about placements.  Salary figures are inflated, unaudited and loosely calculated by even the best schools in India. Always remember that you are building a career.

Beware of deception. For e.g. Is the job offered by the multi-national bank in the technology function and is the business school fooling you by reporting it under the Finance domain?  Will you be working for a bank or actually be a part of a KPO?

Scan names of companies and profiles they offer. Try and find out how many students are recruited. Do thorough research.

Schools that can consistently court top companies for the kind of profiles you seek are the ones you should target.

3) What is the placement policy of the business school?

Indian schools are becoming increasingly notorious for churning out unhappy and dissatisfied professionals. In the race to get everyone a job, extremely poor career policies are in place. The focus is on quantity over quality and the system is designed to make graduates insecure and they end up settling for the wrong job. The result : The graduate is looking out for a new job in the first week of joining his/her company. Everyone is the loser here. The company, the student and the business school (the schools loses brand equity among recruiters). You do not want to be in such a business school.

There are schools that force students to take jobs they do not want or sign out in order to declare 100% placements. Ask students about placement policies. Can you decline an offer? Do companies have a pecking order of visiting the campus or do they turn up randomly? Is there a concept of dream companies?

In the end, we would say that you would be better served if you do not have an attitude of entitlement in terms of landing a plush job from campus. But, when you decide to join a business school it will only help to make choices that maximize your probability of getting there!

4) What are my chances of getting international exposure?

Student exchange programmes help. But be careful. Find out the number of seats on offer. Look at the quality of schools where a tie-up is in place. Are there academicians and foreign companies who collaborate with your school? Are there foreign students who will add a new perspective to the classroom?

This is another highly ignored aspect by potential Indian students. You will only know the worth of interaction with students and professors from international schools after doing it. It exposes you to different cultures and mindsets.

5) What is the infrastructure in the business school?

Your experience can be ruined at a place with eternal infrastructure problems. A large campus with state of art infrastructure goes a long way in making your business school experience memorable and even in developing your personality. Visit the campus if possible. Look at connectivity by air and train. Is there a thriving eco-system around the campus that can support a world class business school?

InsideIIM_BSchool_Selectionchecklist

6) Are the alumni happy?

Speak to 3 alumni (all different years if possible) and speak to 3 current students (from different backgrounds if possible). Usually, if you are perceptive enough you will easily figure out whether the place has any culture and unity. Do people have a sense of pride after having graduated from the place? How do they feel 3 years after graduation?

In many ways, this is the acid test. Indifferent alumni means the school will never really go too far and that has an impact on your career.

7) What is the pedagogy?

Kotler’s original work was written prior to 1960.  The world of finance has changed completely over the last 2 decades. If a business school still follows archaic teaching methods, your tuition fees are worth nothing. Are innovative tools used for learning on campus? Do professors go out of their way to be updated with the latest in their field? What proportion of your work is on the field? Experiential learning, anyone?

8) What is the profile of my peers?

Now, this is a tough one in the Indian context since same kind of junta applies to all schools but it is still worth looking at. You are bound to learn more in a school with more diversity. And diversity not only in terms of gender but also in terms of graduation streams, work experience, international schooling/work experience, people from entrepreneurial backgrounds etc.

9) Fees, Scholarships and Financial Assistance

EMIs as a result of student loans can cripple you. Especially, if you graduate without landing a job that pays you at least INR 50,000 per month in hand. In such a scenario, the cost of the MBA programme becomes an important determinant of your choice of school.  There are practically no meaningful scholarships in India. The Aditya Birla and the OP Jindal scholarships are received by very few people and does not cover even 25% of the cost of the MBA programme in most cases.  A lot of schools have large NBFA (Need Based Financial Assistance) kitties but the criteria is so stringent that most middle class general category students will again never be eligible for it.

Do not compromise on your MBA experience by going for an altogether inferior programme. But be mindful of the difference in the fees.  If one saves INR 600,000 – 800,000 upfront it can have a material impact over the period of the entire repayment of the loan.

10 ) What does your heart say?

Follow your instincts. The heart is always right. Do you get a good feeling about a place? Do alumni of certain schools attract you more?  Are you taking the plunge treating your decision as a compromise?  Answer these questions truthfully. You will seldom regret a decision taken on instinct. Those taken after lengthy deliberations aren’t always the best decisions.

Very few schools in India will score well on all the points mentioned above. But this exercise will help keep your expectations real before you enter a business school.

Source :- insideiim.com

What to expect after completing MBA

This is the time of the year when the academic year at the business schools have reached its climax or even concluded. There is no doubt about the fact that it marks as a huge accomplishment for the freshly-minted MBA grads. However, the picture may not always be as rosy as it looks as and what to expect after graduation can often put a graduate in despair in anticipation about the future.

So, what can one expect after completing an MBA?

The hard work continues

A common misconception prevalent is that an MBA guarantees you success in life and career. Putting in all the efforts for two years doesn’t ensure a breathing space where you can sit back and relax. Just because of the fact that you have graduated from a business school does not mean employers will come to you for offering jobs. You have to look for them and continue the hard work until you find yourself one that is aligned to your aspirations. The story does not even end there and calls for putting in hours in the job and earn you a name professionally.

A salary hike

Accept it or not, most of the candidates have opted for MBA for the financial rewards it promises. Yes, career advancement in the current job is also amongst the reasons. As per a survey, MBA graduates have reported a growth of an astonishing 81% in their pre-MBA salaries. These numbers are based on various factors like the number of years of work experience, skills and sometimes gender as well (unfortunately). However, there is no doubt about the fact that an MBA graduate definitely receives a significant hike after their stint at a business school.

Rise in expectations

Once you complete a rigorous MBA program, there are bound to be expectations from everyone around. This is not just restricted to your family and friends but also in your professional circles like your managers and colleagues. Living up to the expectations of everyone is not always easy and therefore it would be wise to ensure that you know your limitations and make sure that the people know about them as well. This will definitely save you a lot of time and stress that might arise under the burden of the high expectations.

Get back to your social life

It’s no secret that MBA students barely have time for social activities in between juggle work and school, but as business school comes to an end, MBA graduates find that they now have time to spare. It’s okay to take time off to relax and unwind. Just don’t let a week of rest turn into laziness and apathy. Use this downtime wisely and reconnect with friends, go on a well-deserved holiday, or learn a new sport or hobby.

 

source :- mbaupdates.com