A few decades back, higher education was not an easy option for many, mainly due to the steep financial factor that it carried with it. Thus the willingness to opt for the same was not very high from the students’ or for that matter the parents’ point of view.
With education gaining focus and importance in lieu of the good it does for the growth of the country, the government has started dedicating higher chunks of their planned expenditures and budget outlays for education, higher and technical alike. At the same time, the government has offered students with many tools not only in the form of scholarships, funding merit prices but also the provision of education loans by banks and financial institutions in the country.
Yes, the easy availability of loans has definitely encouraged MBA aspirants. Today, there is no student in the country who does not have the resort of taking an education loan from the bank for his higher education and costly MBA programs. Students do not have to depend on the traditional money-lender or a rich uncle for sponsorship of his/her education program.
Organized lending for banks at reasonable and student friendly interest rates is doing the rounds making the education of any category accessible to all classes of the population. The paper work is simple, precise, heavily documented and fully transparent and accountable making it exceedingly reassuring. The point to be noted here is one cannot deny that most post graduate programs are more expensive in nature than a simple three year basic degree program in any stream. Thus, getting funds for these could be a tough task. But, that’s not the case anymore. In fact, banks and other financial institutions provide education with a whole lot of option that makes it very simple for the student to just apply for an institution of their choice and commence with it with great zeal. Some loans ask for the payments to begin to only after the course program is over while some ask for nominal interest payments while the course in on. Most the time parents pay the interest monthly and students pay the entire sum back to their parents’ one they start earning. Some good institutions even have their own personal tie-ups with banks that offer funds to the students the moment their names are listed on their admission lists.
Even institutions do not want to miss out on good students these days and therefore they go all the way, even beyond their trustee charity scholarships to offer their new set of students the comforts of a luxurious MBA without monetary issues of any sort. Now, why wouldn’t the easy availability of loans encourage MBA aspirants?
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Does The Easy Availability Of Loans Encourage MBA Aspirants?
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Test-Taking Skills Important To Crack Any Test
Taking tests before competitive exams is actually a skill; a skill that has to be developed to get the feel of the actual paper and the atmosphere. Test-taking, often known as Mock tests are the best way to gauge which questions to attempt and whether it is the right one. However, the selection and filtering may differ from person to person. Many students tend to take the test very lightly. However, when taken seriously, there is a lot to derive from the same which will make the actual test experience a lot better.
What can one gain from mock tests?
Firstly, they offer you the real atmosphere of the examination hall with students around you. It prepares you for the day when students would be even more conscious and stressed than during a mock test.Secondly, they give a real-look of the paper and repeated mock tests get you so acquainted with the entire idea and feel of test-taking that the actual paper doesn’t scare you when it comes. Thirdly, it helps you filter your strengths and your weakness helping you to decide the areas you should on concentrate more as far as studies are concerned and where to focus as far as questions and their markings are concerned. Fourthly, and the most importantly it helps one know where they stand as compared to the rest. That is the real cause and point of the test. Now as far as the skills of test-taking are concernedMBAupdates would like to give all aspiring students some pointers to gauge their skills.
Check the accuracy. You can do this by calculating the questions answered and marking the ones that have been answered correctly. This helps in knowing the questions you can answer in a set period of time. Always time yourself on the basis of the time you are going to get during your actual paper of MBA.
Always work out the unanswered questions. This not only helps you decipher why you could not get to the right but it also helps in learning it and deciding whether you can solve it. As far as the answered questions are concerned, solve them as well. It will help you revise the logic you have used while solving the mock test. Try and measure what is going wrong and if you are probably not getting answers right due to silly mistakes, or time constraints making your hurry into incorrect answers.
Test taking can also help you to sieve the unanswered questions and probably why they are left unanswered. Is it because you did not understanding the way the question was framed or because you have had conceptual errors in understanding the question? The skill to analyze the tests could lead to beneficial results thus upping your final score to help you score over the rest!
Cracking the GK section in SNAP
With the SNAP test around the corner, the preparations for it are in full swing. The General Awareness section in the test is often dreaded by candidates. Having been an examinee of the competitive exam mba, there are few tips that I would like to share with all. The GK section is actually one of the easiest sections to score but the question is how does one do that? There is no one text book that can suffice for this section and definitely no last minute reading that can help you sail through this section. Cracking the GK section with speed to save more time for other more brain cracking questions can be effortlessly done with memory training. The tips you are about to read are memory training tips for the strong willed, the determined and steadfast willing to endure a slow paced constant life to achieve the maximum in the easiest section in competitive exams for mba.
The Real Way to Read the Newspaper
A newspaper is one of the simplest tools to fight this section with ease. However, one should be careful about how to read it. For example, a highly recommended English newspaper is the standard edition of the Times of India (TOI). The first front page, the first two pages of the Nation section, the first page of the International section and the headlines of the sports sections are more than enough to give a thorough read. The rest of pages can be scanned for only top bold headlines. Do make sure to glance through the headlines of the entire newspaper. Another highly endorsed newspaper is the Economic Times standard edition assists as a good business news surfer. Again, make sure you read the headlines. Make sure to remember latest appointment of heads, changes of heads of institutions and organizations and other major changes of policy changes and documents.
Note the News
News picked up from any medium, be it, major newspapers, radio, business magazines, snippets from libraries that one visits and other smaller mediums should be noted on a notepad or maybe even on your phone for a quick note down. The reason why one should note it down personally is because writing things down always makes it better to remember easily. That’s a trick that was taught in school, but well a tip remains a tip to be used even at later stages in life.
TV Is Not That Big an Idiot Box, Radio can be used too
The television can be used as a real high utility medium to gain the correct type of knowledge. Check with your cable operator for channels like Lok Sabha and Rajya Sabha to watch sessions that are extremely valuable. National and regional state channels offer programs targeted at competitive exam students for general knowledge and awareness. From other mainstream channels the debates held on channels like NDTV 24X7, Times Now and CNN-IBN offer insightful sessions that are visually impactful on the mind helping to decipher the real democratic machinery and its latest happenings in India. The All India Radio (AIR) has evening sessions specially aimed for their competitive exam student listeners. Mobile applications of newspapers can be downloaded in case you wish to cover the GK section while travelling.
How many B-Schools should you apply to?
With so many reputed management institutes offering interesting programs, it can be very tempting to apply to all the top programs hoping to get admitted into one. In fact, to save time, money and effort, an aspirant should apply to select programs that are aligned with their interests.
Recent research has shown that MBA applicants plan on applying to six, seven or even more programs after taking the GMAT. The same research, however, has concluded that three to five schools might be in the applicants’ best interests to save them serious stress and the possible fixation on a school that may be out of reach.
Picking three to five schools can be a difficult task unless you’ve got a perfect GPA, amazing work experience and a GMAT score through the roof.
- Choosing schools with a larger student body might help your chances, as well as aiming for top programs that have a slightly lower median undergraduate GPA or a wide GMAT score range. It is also recommended to choose three to five very diverse, different schools to widen the opportunities offered.
- It is also extremely important to focus in on your specific field of interest. Stanford and Harvard business schools are prestigious, but did you know that some programs that rank lower might be tops in Accounting or Executive specializations?
- Make sure that you are not too focused on a school just because of its rankings or prestigious alumni! As with your undergraduate applications, make sure your MBA programs vary in competitiveness but are all schools that you would be thrilled to attend.
- Start with a big list of schools but narrow it down based on location, specializations, admissions requirements and coursework. Nearly every program posts its average undergraduate GPA, the median and range of GMAT scores for its applicants and the percentage of applicants that are admitted.
Thus, considering these factors will ensure that you will be a happier and a less stressed applicant and you will know more about each of the schools that you choose to apply to.
Indian B-school Crisis
Since, job guarantee is one of the key factors why students pursue MBA, b-schools are unable to fulfill this important criteria of students. Following the economic turmoil, its become a difficult challenge for B-schools to get their graduates placed. As companies don’t have jobs and enough revenue to invite the new-bees graduating, the task of placement officer gets tougher as the dates near. Compared to 41% students getting placed in 2008, only 29% are placed in 2011-12.
Because of this, sustaining the students and enroll more students next year has become even more important task. Bad word-of-mouth of recent graduates will be the last thing on B-schools’ mind. The challenge is more about sustainability and survival than quality education and imparting knowledge.
B-schools are finding it difficult to incorporate the vacant seats as allotted by Government of India. To help fill the seats, B-schools also approach coaching centres to direct students to their school, for which they are ready to shell 50,000 per student. These methods have raised doubts on the dignity and integrity of coaching centres and B-school. Around 35% of the tier 2 and 3 bschools have difficulty in filling the seats. 140 b-schools will be closing the administration, according to the reports.
Education is a tool to enhance knowledge and to develop business skills. But, there is no value addition to students other than presentation skills, grooming skills, excel and communication skills. Is MBA even worth it? You decide.
Should an MBA opt for internship without stipend?
Pursuing
your MBA and pondering about whether you should consider those
internship offers without stipends? Don’t think twice; just grab a great
profiled internship without thinking about the stipend. Wondering why you should not be bothered about the stipend at this stage? Read on to find what MBAupdates thinks about your dilemma.
The
work experience at the internships is the foremost exposure for a
student to the corporate world. More than giving loads of moolah it
allows you to see the office and workplaces you desire to work with.
Secondly, it allows you to make correct decisions, may be helping you to
filter what you like amongst various options, the sector you should
choose, the dos and don’ts at workplaces and other social issues.
Thirdly, the most important factor is that the internships supply you
with great credentials. A Morgan Stanley, a KPMG, a Dabur, adds plenty
of value to your resume which will be your real cash card for life!
So
what makes more sense; juggling for a few thousands while you are
procuring your MBA or adding value to the resume? To encourage all the
MBA students confused about taking up an internship; remember that
sometimes most of the firms and companies do offer stipends after
gauging the performance of the interns. So, don’t lose hope! As a cherry
on the cake, they often promise employment post-course completion at an
on-par or excellent salary.
Yes,
most of the MBA students have a heavy burden of loans or some even have
to repay their parents and hence stipends matter a lot to students
thinking their internship options. Another
misconception is that stipends can be used as a benchmark salary. This
is not always the case. Even if one has not undergone any internship
through their study program they are still eligible to get the salary as
per market and industry standards and hence the salary after the
programs has nothing to do with the stipend in any internship. What
really matters is the impression and the response you receive during
your internship that adds oodles of value to your resume and already
existing credentials.
Therefore,
enrol yourself with the internship cell in your college, aim for the
best companies hiring at your institution, beat the rest of the crowd to
impress all and take up the internship without any doubt, irrespective
of the stipend it offers.
Point
to note: The few thousands you earn during a 1-3 month internship are
lesser valuable than what you could derive out of a well-placed
established company on your resume! Think about it!
Convince Your Employer to Pay For Your MBA
An MBA aspirant
needs to demonstrate to his company that it would be worth an
investment to pay for the business degree. The presentation should
convince the employer that getting the degree will strengthen the
aspirant’s understanding of the business environment and the company
will reap benefits in the long-run.
The employee
needs to have already showcased his potential in terms of delivering and
achieving targets. If the company is not convinced with the employee’s
performance, persuading them to sponsor the education becomes even more
difficult.
Consider the fact whether the company is financially able to fund this high-priced degree. Have they been
cutting expenses or experiencing growth recently? Have they sponsored
any of your colleague's education? If they have, ask your colleague to
advise you on what to expect.
It is very important to have a clear
understanding of the details about the fees. Are you going to get any
funding in the form of scholarships or any government assistance? The
particulars about the program, the duration (full-time or part-time) and
other things have to be remembered so that one’s approach to the
employer emanates confidence and determination.
If an employee is not onto sales,
then at times it could get a bit difficult to showcase the results. At
such times, an employee could focus on how he/she has managed to save
and cut down on the costs of the company. For example, if one has worked
on a project for months and is unsure about how it has affected the
company’s performance then one should try to figure out how exactly the
project has helped the company reduce cost.
If you were in charge of creating a
marketing campaign on Facebook, show that you were able to reach the
company's target market without having to spend the money that is
usually spent on advertising.
The bottom line is that you need to
be fully prepared and show your employer that an investment on your
education is also an investment in the company's long-term goals.
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