MBA - Frequently Asked Questions
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There are many factors that have to be considered when applying to a B-school. One of the most important indicators to ensure quality of an MBA program is the official approval and accreditation by AICTE and UGC. These government organizations offer their stamp of approval to B-schools with a reasonably high standard.
The cost of MBA and PGDM varies from college to college. On an average MBA or PGDM course starts from 20,000 thousand a year that goes as high as 15 lakh a year. Add to tuition fees, the cost of supplies and of living. Several students especially who have applied for full-time programs choose to figure the salary and income they would not be earning while pursuing their MBA program into the overall cost of the study program.
Consider the following parameters before applying to any B-school:
- Accreditation of the college
- Past Placement records
- City location
- The infrastructure
- Teaching faculty
- Course Specialization
- Tuition fees
- Industry interface
Primary difference between MBA and PGDM program is, MBA is a degree course offered by universities, whereas PGDM is post-graduate diploma offered by AICTE approved institutes. Indian colleges that come under the UGC, can award degrees like MBA degree. These colleges compulsorily follow the UGC format of course content. Whereas AICTE approved institutes design their course structure on the basis of industry feedback and business significance. When it comes to quality placement, college reputation matters more than the degree or diploma.
To start with, it’s your aptitude. This aspect is tested in the entrance exams which are essentially screening tests. After clearing the entrance phase you get to communicate with the faculty from the B-school itself. They look for interpersonal skills, communication skills, honesty and goal clarity.
If you have prior work experience, make good use of that. In case you lack that, be sure to thorough the subjects that you have studied in the college. If you succeed to Round 2 despite of low CAT/CMAT score, remember your chances of final selection are still bright. Always be confident, clear about your goals and honest.