Does "brand" matter in a MBA college? Perspective from ~8 yrs work-ex after a Top5 MBA
There seems to be this belief in the CAT taking junta that better "brand" helps in the medium term. I hate to bust the myth but it doesn't.
So I am going to condense what I have experienced into three parts -
- Which are the brands that matter?
- How do they matter in the long term?
- How should you choose from your options.
"IIM" is not a brand name. If it was all new and baby IIMs would be killing it in placements. Your parents care more about the "IIM" brand name than the recruiters because they get to flex in front of Sharma uncle in family functions.
The brand names in Indian MBA are IIMA,B,C are. Followed by ISB, FMS, NITIE and XL to some extent. I would have put IIM L as a brand a couple of years back but it is declining in equity over time.
Does this mean that these brand names can carry you through life? The short answer is No.
Think of them like a "Get Out of Jail Card" in Monopoly. Rule of thumb is that you are as good as your last job. However, if you have had a bad stint or a short one, these brand names will help you get out of that situation and give you a second chance. The recruiter is likely to give you the benefit of doubt and shortlist you with an assumption that your reason might have been genuine. 5-7 years in, this will also rub off and you will only be known for where you worked, what you achieved and what others have to say about you. The biggest use case after 5-7 years is the reaction that you might get when you tell someone where you studied. It will elicit a certain respect which will reflect in an immediate sweetening of demeanour. Outside of these colleges, nobody cares enough.
So how should you choose? Choose basis placements. Evaluate placements for quality of companies, quality of roles offered, the level you will get hired and the compensation offered, in this order. I would choose company and role over the comp any day. With the right work-ex, you can catch up on comp any time. Speak to as many alumni and current students you can speak with to assess how inflated the placement report is. An IPRS audited placement report is the most pristine, an audited one shows some intention of being clean but a self reported one should be taken with a pinch of salt and an automatic discounting of 10-20% depending on what tier of college it is (top ones don't lie too much because they care about their reputation).
The no 1 thing you get from a MBA is the job followed by a network for life. If you apply to the same company off campus, your CV will be one among 100s of applications and chances are you won't even be shortlisted.
So don't make a career choice basis a brand name that is perceived to be prestigious by your coaching or friends.