Paras Shah recounts his experience with MBA entrance exams over the last year
I graduated in 2005. I was keen to do my MBA outside India. But I left that idea for some personal reason. Being from Ahmedabad, I knew only about BK Institute of Management (through Gujarat CET), a few other local colleges and IIMs through CAT.
In the beginning of TY many of my friends started CAT preparation. But I decided not to give CAT the same year.
Till 12th I studied in Gujarati medium. In graduation I did BBA in English medium. I got 60% in graduation. It was a good score although I expected higher than this.
Now it was time for GCET. Without preparing even for a single day I wrote the exam. Not surprisingly, I got low marks. But better than those of my friends who joined coaching classes, gave mock CATs, CAT 2004, etc.
After some time I heard about some exams like MAT. I wrote MAT in September and subsequently got calls from Alliance Business Academy (Bangalore), NIILM (Delhi), SCMS (Cochin).
I was happy that I got a call from Alliance Business Academy, because I had heard it was one of the best b schools under MAT.
I was relaxed. I did not do any practice for CAT. My dad asked me to join a coaching class. So I enrolled for a ‘crash course’. But I didn’t like it and left it after giving 1-2 mock tests.
The D-Day arrived. I was not prepared for anything. I gave CAT with the mindset that I have nothing to lose. I attempted very few questions and again not surprisingly got a poor score.
I also gave other exams such as NMAT (for NMIMS), SNAP (Symbiosis) , IBSAT (ICFAI Business School).
On 1-1-2006, I got call letter from ICFAI Business School. What a great start for the new year.
Now I had calls from two decent business schools. I had no hope from CAT.
Meanwhile, the SNAP & NMAT results came out. I didn’t get a call from either. After that I wrote XAT. Got calls from Amity, IBA, many other unknown schools.
During this time period I came to know about the CTC (Cost to Company) concept, recognition of AICTE, and the reality of business magazine ranking by surfing pagalguy.com & JAM Editor Rashmi Bansal’s blog (http://youthcurry.blogspot.com).
After speaking to Rashmi, a few friends on pagalguy, and my college friends, I came to the final decision – I went for ICFAI Business School as it has 3 good branches. (Hyderabad, Mumbai, Gurgaon).
I went to Hyderabad for the interview & Micro Presentation. When results were declared I was on the wait-list for ICFAI Business School – Chennai & Pune campus. Finally got into Chennai.
I learnt that the average salary for a grad from this b school is Rs 4 lakhs. Somehow my heart said no. I shouldn’t go for this.
I calculated total cost of study of MBA at IBS Chennai would be close to Rs 9 lakhs including interest. This was a big amount for me. I had to pay all fees through bank loan.
I knew about CTC concept. I thought,”If I get only Rs 15-20 k p.m. in hand after MBA from this college, is it really worth it? I will have to work 10 years at least to cover my fees.”
I explained these things to my family. They said – do what you think is right. Thank God. I am the only son. No one in my family has studied beyond graduation. Doing a MBA will be a big achievement.
I am trying for a better b school by giving all the entrance exams (more seriously) this year.
Asha Amar hai… Hum Hoge Kamyab…. Jai Hind.