Highlights of the Access MBA Panel Discussion on “The Competitive Edge: What an MBA means for the Indian market”
CrackVerbal had participated in the Access MBA Tour on 29th Oct, 2014 at the Taj Gateway in Banglore. The Admissions team at Crackverbal, participated in the panel discussion on “Competitive Edge: What an MBA means for the Indian market” along with Namita Thitta, part of the India admissions team of IE Business School.
Here are the highlights of the discussion:
What role do rankings and accreditation play in school selection?
Accreditation’s and Rankings are two sides of the same coin. While accreditation add to the credibility of the school’s brand, rankings help to promote it.
However, you should not go just by rankings while short-listing schools. Use them in two ways:
To learn about school names you have not heard of previously. For instance, ESADE Spain or Emory Goizueta are great schools, but which are not familiar names.
To understand roughly which schools fall in the top, mid and lower tiers. The specific rank or position does not matter as much.
Is entrepreneurship or being part of a family business considered as work experience?
Of course yes! Even a failed entrepreneurial venture is seen positively by B-schools. They value your learning and experiences during make you an asset for their MBA program. The only challenge that you may face here would be while choosing recommenders. B-schools require recommenders to have an official email ID and many family businesses may not have that. Also, most B-schools do not accept recommendations from friends or family. So you may have to think creatively when it comes to selecting the right recommenders.
What determines the kind of scholarship you get?
The GMAT score plays a key role in merit-based scholarships. As long as your GMAT score is much higher than the average at your target school and you have applied early in the admission cycle, you can expect a good scholarship. Niladri Chakraborty, a student of CrackVerbal with 750 on the GMAT and some excellent career milestones won a USD 90,000 scholarship to UNC Kenan-Flagler last year
Other determining factors include your career progress, awards and recognition, and demonstrated leadership instances. Read this blog to know how Adcom members look at your profile.
Many schools offer specific scholarships for Asians, women, and those from developing countries etc. Before applying, make sure you thoroughly research all the scholarships and financial aids that B-schools offer and identify which ones you have the best shot at.
Which is better, a one year program or a two year program?
There is really no one right answer! It depends on what your individual requirements and constraints are. If you have less work experience or are planning to make a career switch, a 2-year MBA is a better fit as it gives you an internship opportunity to get some experience in the new domain.
If your work experience is on the higher side, you have a family, or are looking for career progressions without being away from the industry too long, a 1-year MBA is probably a better fit.
It’s no surprise that European MBA programs (mostly 1 year) have a higher average work experience/age than US MBA programs (mostly 2 years). Read this blog on one year versus two year programs to know your best MBA fit.
How important are test elements like the GMAT in the selection process?
Are you still wondering if you can get into a top B-School this year? Let us help you!