Wednesday, 25 September 2013

Topper's Mantra: What led 98.99 percentiler Puneet Manot to enter an IIM?

Mr Puneet Manot scored 98.99 percentile in CAT and accepted an admission offer from one of the new IIMs. Puneet who had a working experience of 19 months along with his high CAT percentile, received final admission offer from multiple B-schools including most of the new IIMs. 

CAT Toppers TipsIn this Topper’s Mantra session with MBAUniverse.com, Mr Puneet shares his CAT prep strategy and talks on the challenges he faced during his preparation while being a working executive. He also speaks on his GD/PI strategy and suggests MBA aspirants to prepare the same along with their preparation of CAT.
Interview:
Q: What was your CAT percentile and which B-schools offered you final admission?
A: I scored overall percentile of 98.99 CAT. I got final admission offers from many B-schools including IIM Raipur, IIM Rohtak, IIM Udaipur, IIM Kashipur. I finally chose IIM Raipur.

Q: What was the toughest & easiest section for you in CAT? Why?
A: The toughest section for me while appearing for CAT was Data interpretation. This was because I had not devoted enough time during my preparation in practicing DI questions. I lacked speed while solving these questions and at the end, I had to forgo some of the questions of this section. The easiest section was logical reasoning. I could attempt all the questions of LR with confidence taking less than the expected time.

Q: What were your strategies to handle the difficult part?
A: While preparing for CAT, I knew that I lagged behind in verbal ability. Therefore, I concentrated on VA throughout my preparations by indulging myself into reading books and articles. 

Q: How did you manage your weekly study schedule? What should be the ideal duration for study in a week for CAT prep?
A: While preparing for CAT, I was a working professional. Hence, I had no fixed weekly study schedule until a month before the test. However, I continuously tried to improve my verbal ability by reading books and articles. Once the day came closer, I started revisiting the Quantitative concepts, scheduling them on a weekly basis. I gave two mock tests per week. An ideal duration of study in a week is subjective. During the last month, I devoted around 20-25 hours a week to CAT preparation. 

Q: One preparation area which influenced your selection to this Top B-school heavily. How?
A: Developing my verbal ability would be the prime reason for my selection to IIM Raipur. It reflected in my CAT score for the VA/LR section and hence my overall CAT score. 

Q: What was your long-term preparation strategy for GD/PI?
A: Being in touch with the current affairs and continuously reading opinions about them, was one thing I targeted to prepare for GD/WAT. A thorough knowledge of my field of work came inherently with my working profile. I also devoted some time in self-introspection. 

Q: Your advice for CAT 2013 Aspirants
A: CAT is not a difficult test to crack. It needs some preparation on the weaknesses of a candidate without neglecting the core-competency section (something I overlooked and suffered for). If someone is confident enough, there is no need to obtain formal coaching, but there is a need to follow a consistent pattern for preparing oneself. Continuously testing oneself with mock-tests is crucial to develop the required speed and attitude towards solving questions. Reparation of WAT/PI and GD is also an integral part in actually cracking CAT, and it should be pursued passively throughout the course of one’s preparation. 

Q: What is the best part of doing/being an MBA?
A: A management course gives individuals opportunities to hone their skills, requisite for handling responsibilities in an organization. The importance of self-management becomes lucid while doing an MBA. But, the best part of doing an MBA is that it provides an opportunity to interact with some of the best brains in the country. 

Q: Mention one unique aspect of your Institute.
A: The uniqueness about IIM Raipur is the level of student participation in the functioning of the college on the whole. It provides a lot of opportunities for a student to learn from common managerial issues that one will face in the due course of the corporate journey. 

SPJIMR, IIM-L, XLRI lead fastest payback period amongst top B-schools

As you appear for different MBA exams like CAT, XAT, NMAT and apply to top B-schools depending on the value of their MBA programmes on different parameters, your evaluation for B-schools on their payback period can bring you yet another new perspective.
To help CAT 2013 aspirants in deciding which Top B schools to choose and apply, we bring here a comparison of Top 10 B schools in India on the basis of their payback time. Payback period can be termed as the ROI (Return on Investment).  

Top B Schools
 FMS Delhi, JBIMS fastest on ROI:
The central university MBA departments like FMS Delhi and JBIMS sit on the top of this list.
While FMS Delhi which comes under University of Delhi has a fee structure of Rs 0.21 lakh only, the average placement for its passing out batch in 2013 was Rs 16 lakh. Therefore, a student at FMS gets his return on investment in just 5 days into his job.
Similarly, though JBIMS (University of Mumbai) has a higher fee structure of about Rs 2 lakh for its 2-year MBA programme, the average annual salary of Rs 15 lakh brings the payback period at this B-school below 50 days.

Which PGDM institutes beat IIM-A,B, C?
CAT 2013 aspirants will be surprised to know that top PGDM B-schools give a tough fight to IIMs in terms of ROI. SPJIMR and XLRI are above IIM-A, IIM-B and IIM-C on this parameter.
SPJIMR, Mumbai brings you the fastest ROI amongst top PGDM B-schools. While the fee structure for its two year programme is Rs 9.5 lakh, the average annual salary offered to the 2013 batch was Rs 16.13. Therefore, it takes only 215 days to get back your investment on the MBA programme at this B-school.

XLRI also list among the top 5 B-schools on fastest ROI. The fee for its two year flagship management programme is Rs 12 lakh. However, the average annual salary offered at the institute was Rs 16.2 lakh. This brings an ROI of just 270 days at the institute.
Though IIM Lucknow is ranked below IIM-A, IIM-B and IIM-C, the institute beats its seniors on the ROI factor. While the institute has a fee structure of Rs 10.8 lakh for its two-year programme, the average annual salary to its graduate was Rs 15.5 lakh. Hence, the payback period is just 254 days for the 2-year programme at IIM-L. 

Top league of IIMs:
With a fee structure of Rs 13.6 lakh and average annual salary offered at the campus being Rs 18 lakh, IIM Calcutta offers a payback period of 275 days.
IIM-Bangalore and IIM-Ahmedabad stand on number 8 and 9 respectively with their respective payback period being 358 and 432 days.

NMIMS also falls in this league with its payback period of 320 days. The institute has fee of Rs 12.62 lakh and the average annual salary offered at the institute in 2013 was Rs 14.4 lakh. 


The table below shows the list of country’s leading 10 B schools including the top IIMs viz. Ahmedabad, Bangalore, Calcutta and Lucknow along with their latest fee structure and average salary offered to their students from the last batch. The B schools are ranked on the basis of their Payback period.

Table 1: Payback period of Top 10 B schools
Name of the institute
Fee structure (in Rs lakh)
Average salary (2013)   (in Rs lakh)
Payback period (in days)
FMS, Delhi
0.21
16
5
JBIMS, Mumbai
2
15.32
48
SPJIMR, Mumbai
9.5
16.13
215
IIM L
10.8
15.5
254
XLRI Jamshedpur
12
16.2
270
IIM C
13.6
18
275
NMIMS
12.62
14.4
320
IIM B
17
17.3
358
IIM A
16.6
14
432
MDI Gurgaon
15.5
12.8
441


Note: The fee structure excludes accommodation charges. Payback period days are rounded-off.
The payback period is calculated as:  Fee structure/average salary x 365
To get admission in the above list of B schools, you need to score very high percentile in CAT 2013/XAT 2014 exams. 

So, apply to MBA Exams like CAT, XAT and NMAT to get opportunity of high ROI and fastest payback period after your MBA programmes.

Top 10 B-schools to apply with your CAT scores

The CAT score accepting top B-schools which have opened their applications include MDI, SPJIMR, IMT Ghaziabad, IMI Delhi, XIMB, IRMA, LIBA Chennai, IFIM Bangalore etc.
Top B schools

After your CAT exam, you will require B-school options which can shortlist you on the basis of your CAT or XAT scores.  So, it’s time you apply to top management institutes even as some of the top PGDM institutes like IMI Delhi, IMT Ghaziabad, MDI Gurgaon close application before the CAT exam begins on October 16.

We bring you here a list of 10 top B-schools where registrations are open now. All these B schools will accept CAT 2013 scores or XAT 2014 score.

While registration for CAT 2013 exam ends on 26 September, 2013, the sale of voucher will close on 24 September. Computer based CAT 2013 exam will be held in a 20 days window from 16 October to 11th November 2013.

Registration for XAT 2014 will end on 22nd November 2013 while the XAT paper pencil exam will be held on 5th January 2013.

Following are the list of top B schools where application is now open for 2014-16 sessions. Most of the remaining top B-schools are likely to announce their admission over next fortnight.
In next 10 days almost all the top B-school will announce their admission;

Institute: Management Development Institute (MDI), Gurgaon
Eligibility: 50% marks or equivalent CGPA in both X and XII; 50% marks or equivalent CGPA in Bachelor’s degree; Valid CAT 2013 Score
Last date for applications: 15 October 2013
Programme Fee: Rs 11,29,000
Application Fee: Rs 1800

Institute: S.P. Jain Institute of Management Research, (SPJIMR), Mumbai
Eligibility: Graduation (10+2+3 stream) from any recognized university with minimum of 50% marks; CAT 2013 scores/ XAT 2014 Scores/ GMAT scores
Last date of application: 18 November 2013
Programme Fee: Rs 10,50,00
Application Fee: Rs 1200

Institute: Institute of Management Technology (IMT), Ghaziabad
Eligibility: CAT 2013 Scores or XAT 2014 Scores or GMAT score; Graduation (10+2+3 stream) from any recognized university with minimum of 50% marks
Last date for applications: 15 October 2013
Application Fee: Rs 1750

Institute: International Management Institute (IMI), Delhi
Eligibility:
CAT 2013 scores or GMAT Score taken not earlier than October 2011 and not later than October 2013; Graduation (10+2+3 stream) from any recognized university with minimum of 50% marks
Last date for Applications: 15 October
Programme Fees: Rs 13,50, 000
Application Fee: IMI has three campuses- New Delhi, Bhubaneswar, Kolkata. Fee for a common application to the three campuses is Rs 1500 plus a program fee of Rs 500 per program per campus.

Eligibility: Graduation (10+2+3 stream) from any recognized university with minimum of 50% marks; CAT 2013 Score/ XAT 2014 score/GMAT taken in 2012 or 2013 (minimum score 550).
Last date for online applications: 30 November, 2013
Application fees: Rs 1300

Institute: T A Pai Management Institute
Eligibility: Graduation (10+2+3 stream) from any recognized university with minimum of 50% marks; CAT 2013 score/XAT 2014 score/GMAT score
Application Date: Starting next week
Application Fee: Rs 1500(as per last year)
Programme Fee: Rs 9,90,000

Institute: Institute of Rural Management (IRMA), Anand
Eligibility: CAT 2013 Score; Graduation (10+2+3 stream) from any recognized university with minimum of 50% marks; All applicants who apply to IRMA with CAT 2013 score will appear for IRMA admissions test on “Issues of Social Concern” subject to their application forms being complete and accepted by IRMA.
Application forms for IRMA admissions will be available online and in hard copy at IRMA Admissions Office from September 25th, 2013 onwards.
Programme Fee: Rs 4,17,700

Institute: Institute of Management, NIRMA University
Eligibility:
Graduation (10+2+3 stream) from any recognized university with minimum of 50% marks Valid CAT 2013 Score
Last Date for applications: 31st December 2013
Application Fee: Rs 1500/-
Programme Fee: Rs 7, 90,000/-

Institute: LIBA, Chennai
Eligibility:
Graduation (10+2+3 stream) from any recognized university with minimum of 50% marks with a consistent record of first class in Std X, Std XII and graduation; CAT 2013 or XAT 2014 Valid scores
Last date for online applications: 24th January 2014
Application Fee: Rs 1250

Institute: IFIM, Bangalore
Eligibility: CAT/ XAT/MAT/CMAT/GMAT/ATMA Graduation (10+2+3 stream) from any recognized university with minimum of 50% marks
Last date for online applications: 31 January 2014
Application Fee: Rs 1100
Programme Fee: Rs 10,50,000