MBAs owing to their massive success and lucrative career options have become rife with a ton of myths and mysteries over the course of a few decades.
This article “MBA Myths and Mysteries debunked” is a sincere attempt on my part to bust some of those myths and separate fact from fiction.
It’s going to be 4 part series that would cover different phases of an MBA in chronological order:
- Preparation
- Admissions
- Summer Internships and PPOs
- Final placements
MBA Preparation
Every year, close to half a million people aspire to get into the top B-Schools in India, and everybody has their own set of reasons for pursuing an MBA.
Some want to get better salaries, some want a change of domain, some pretty weird ones too (a friend I know, wants to get an MBA because everybody in her family has a master’s degree except her).
Irrespective of the reasons, almost everyone is driven and ready to tackle anything that comes their way.
The first thing every aspirant does is to call up their older friends and family members who have already pursued an MBA. And this is where starts the long list of myths and mysteries.
#Myth 1: What worked for my friend/cousin will work for me
There is nothing problematic in calling your friends and family members who got into prestigious MBA institutions. But you need to check the purpose and intent of your call.
To get general information from them is a reasonably good thing to do, but to take their suggestions at face value and going with them would be disastrous for you.
We have to understand that each one of us is different. We are shaped by our own unique culture and experiences. We have different levels of comprehension and different toolkits to deal with problems.
Most importantly, each has its own reasons for pursuing an MBA, and some unique limitations as well. For some, it is about getting into the IIMs, and for others, it might be to work in a certain company.
Reasons and motivations aside, the one thing that defines the way we tackle things is the limitations we have.
Some can’t quit their jobs yet, some can’t afford costly coaching Institutes and some others would want to pursue a Distance MBA.
Our scope of actions lies in the area overlapping our aspirations and limitations. But more often than not, we are ignoring our limitations and focussing more on our aspirations.
That results in disappointment and unrealistic ambitions.
#Myth 2: CAT is the only way to go! 🐈
I have seen a lot of my friends bicker over how CAT is the ultimate entrance exam that would open all doors.
While there is some truth to that, but it helps to know the other viable options available so we don’t leave any stone unturned.
There is a lot of uncertainty in the hyper-competitive world of ‘entrance examinations’.
I know friends who got scored less in their second attempt of CAT, and that is not so surprising given the level of ambiguity and uncertainty in the process
So, it pays to cast a wide net and try to get as many admits as possible by considering a good number of entrance exams.
#Myth 3: I have to get classroom coaching with xyz Institute
Probably the biggest challenge for every MBA aspirant is to select the perfect coaching institute to be associated with.
I have seen students overly glamorize and romanticize their institute choices. So much so that that it isn’t even about the quality of coaching anymore.
They tend to latch on to a celebrity teacher of a particular institute, or the brand name of another.
A few things to keep in mind while deciding whether to opt for classroom coaching or self-preparation are:
- If you perform well in groups or are you good preparing alone
- Does immense competition motivate you or are you overwhelmed by competition from your peers
- Are you an extrovert who feels alive in the company of others or are you an Introvert who is recharged every-time you’re alone
If you fall in the first category, then you can go for classroom coaching with some Institute.
But if you fall in the second half, then opt for test series from the institute of your choice.
Some other factors that’ll help you decide are:
- Your present skill level (can be assessed by a Mock test)
- Your end-goal: A lofty end goal might require guidance and mentorship (not necessary, but good to have)
- How disciplined you are in life generally : The more disciplined you are the better your chances are to clear the exams without classroom coaching.
#Myth 4: Good preparation equals good score 💯
This is something that a lot of aspirants have trouble understanding. Even though good preparation improves your odds of getting a good score, but it doesn’t guarantee it.
What a lot of aspirants in particular and people in general miss about life is that Luck and Chance play a huge role in all major outcomes.
The same is true for our scores and outcomes!
With that, we wrap the first part!
Feel free to comment about your experiences..!
“𝐌𝐚𝐲 𝐲𝐨𝐮𝐫 𝐜𝐡𝐨𝐢𝐜𝐞𝐬 𝐫𝐞𝐟𝐥𝐞𝐜𝐭 𝐲𝐨𝐮𝐫 𝐡𝐨𝐩𝐞𝐬, 𝐧𝐨𝐭 𝐲𝐨𝐮𝐫 𝐟𝐞𝐚𝐫𝐬
