Four Factors to Consider for Choosing the Best MBA College
Master of Business Administration is one of the most sought-after post-graduate courses globally. Choosing the best college for pursuing an MBA could be daunting for many students, but it is a crucial step in one’s career path. You need to research colleges and consider several factors before zeroing in on one. The lack of universally accepted criteria or standard parameters makes it more difficult for the students to select the right business school. So, whenever you check the list of top MBA Colleges in Hyderabad, you need to keep in mind what is the suitable parameter on which a B-school can be evaluated and compared with others.
You must consider the rankings of the colleges you are interested in. Students need to check the rankings given by the National Institutional Ranking Framework (NIRF) launched by the Human Resource Development Ministry. Check the college standards by accreditations granted by higher education accreditation boards. You should also check whether the institutes are autonomous or affiliated to universities. Here are some factors you can consider for choosing the right MBA College.
Check the Cost of an MBA:
Since your chosen Business School will serve as a path for your career, it is important to identify how the entire course would cost. An MBA is an expensive course, and thus it is essential to understand all the costs associated with getting one. Besides the cost of tuition, there are several other expenses that you may incur, including living costs, and many more. If you check the list of top MBA Colleges in Hyderabad, there are moderate fee structures with a good placement that can assure you about your career prospects are what you might be looking for. So, it will be ideal for comparing the fee structures of various B-schools and the benefits of learning arising out of it before finalizing your college.
Calculate the entire fee and expenses for two years at the MBA college and not just the tuition fee because it could form only 40-60% of the entire expenses. If you associate the expenses for laptop, other deposits at the B-school, other study material, boarding & lodging expenses, the total fee will be much higher.
Check MBA Placements:
Before making a decision, check what are the average placements over the years in the B-school? Which MBA program gets higher placement opportunities as well as who are the top recruiter’s companies? These questions need to be asked or answered before you make an investment in your MBA program. You should compare the placements and fees of the B-schools and then choose the right MBA College.
You should also check the placement records of the management institutes before finalizing your decision. You can ask the college for placement records, placement percentage, average salary, names of the companies coming for campus recruitment, sectors of recruitment, and more. You can also contact current students or those who have been previously recruited from that college to get a better idea.
College Ranking and Accreditation:
MBA College Rankings help you to choose which MBA college or program you should apply to when there are a number of options available in front of you. Although there are dozens of MBA college’s rankings that are published in India, the creditability and record of the ranking are most vital to get reliable guidance. All rankings help you make an ideal choice to select the best MBA College.
National and International Accreditations awarded to the MBA colleges reflect the quality of education including curriculum as per Global standard and industry requirement, high quality of faculty and research, pedagogy, facilities at the institute which are prominent parameters to choose the best MBA college. It would be best if you are looking for renowned International and National Accreditations, before deciding on your preferred MBA College.
Check Qualified and Experienced Faculty:
It is of utmost essential to find out how qualified the faculty and learning experience at the B-school is. Every college publishes its faculty profile area-wise on its website. You must check faculty profiles carefully, especially for the MBA program you wish to pursue, and look for the following qualities as Professional Experience, Academic Qualification, Research Area and publications, and Industry engagement.
Faculty at the college decides the learning experience in imparting education and is the main factor in providing appropriate mentorship to the students. The better is the teacher-student ratio; the better will be the mentorship at the college. A teacher-student ratio of 10 students mentored by one teacher could be considered as a good one. If there are lesser good faculty members, and the ratio does not remain good enough, it may affect the learning experience adversely at the college.
You must also visit the colleges you have shortlisted to ensure that the infrastructure is good. You should choose a college which has a student-friendly environment and offers good classroom facilities, a library, laboratories, hostel, and cafeteria.