Building up a resolve to post regularly
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Last week, the Indian Institutes of Management (IIM) came out with their admissions results. I was rejected by the one IIM that had decided to invite me for the Group Discussion/Personal Interview (GD/PI). I was a bit shocked by this decision. But having two admits from Top 5 schools in the US, I don’t think I would have ever thought of going to an IIM. The reject made me think about the ultra- competitive spirit that prevails in the Indian education system. There are 6 IIMs in the country, and overall around 1300 students in all of them put together in an academic year. More than 100, 000 people write the IIM-CAT for getting into these 1300 seats. This gives an admit ratio of 1:77, or 0.013% admit rate. Compare that to the toughest school to get admission elsewhere in the world: The Stanford GSB with an admit rate around 9%. There is an order of magnitude difference between these two. So what kind of people gets admitted? Typically, one needs to score in the upper 99th percentile in the CAT to get any calls from the top 3 institutes: IIM A, B or C. One also needs an equally distributed scoring pattern in Quant, Data Interpretation and in the Verbal section. The CAT pattern itself is a surprise and keeps changing every year. It is a difficult exam, because of the complexity of the questions to be solved in a limited time of 2.5 hours. Accuracy + speed matters here. One without the other is useless and there is negative marking if you get answers wrong. At the end of the day, it is yet another exam, full of number crunching and performing under pressure. While I agree that a lot of management is about handling pressure, it is not the foundation of it. The crowd at an IIM inevitably is a huge mix of engineers with almost no work experience. People who can slog for hours together , crunch numbers with ease and crack exams to score those nice grades. Where are the soft skills that MBA students are so known for throughout the world? Sorry, you don’t expect to find them here. If you are good at numbers and can do calculus and statistics, the I-Bank would come calling for making you that senior analyst to do the drudge work. With the outrageous pay abroad coming out of a subsidized education, what more does one want?
This is where the quality of education shows up bad compared to the world. Only 2000 quality management students graduate every year in a country of a billion. There are no quality institutes apart from the IIMs and the ISB. And the emphasis is still on grades and cutting through your competition to win at all costs. Now, if this were a PhD in Math exam, I understand the exam pattern thoroughly. But how can you get admission to MBA without understanding a person’s communication abilities, his/her career goals and achievements in life. Are people expected to keep communicating with numbers and equations throughout their lives? Or they are expected to lead people and organizations to great successes? Very few institutes use essays to understand a person’s character and goals better. In the end, a person is merely reduced to a set of numbers and metrics: GPA, CAT Percentile, and Number of years of work experience. That’s all and that’s it.
All these metrics are a miniscule part of a B-school application process elsewhere in the world. The interview is about knowing you in depth, not the rat race of a Group Discussion where 7 speakers ramble at the top of their voice trying not to reach a conclusion. The interview is about your goals and how XYZ Univ can help you succeed, and not about knowing how fast you can calculate 3^ 89 or state the manufacturing growth of your country in the last 5 years. There are calculators to do the former and journals to give answers to the latter. Alas, the Indian education system at every stage is still deep-rooted in rote learning, cramming for grades and just passing out into a job which can pay well. An important component called thinking is just ignored altogether in the whole process. No wonder then that we produce a huge number of undergraduate engineers, but a ridiculously low number of PhD’s. No wonder that we produce very little patents or new products.
It is not just the IIMs, the country needs a radical change in imparting thinking in education rather than overloading with content. If not, the likes of me, educated in an IIT would tend to go abroad and think for some other country and improve their productivity instead of staying back and struggling in the rat race here. I have no regrets going to the US for my MBA now.
Labels: B-school, CAT, IIM, Indian education, MBA
I find myself in a unique situation now. I have been waitlisted by one Top B-school in the US and have an admit with aid in another B-school (which is also in the top 5). While the mind always wanted the top school, I never thought of applying that low till 4-5 in the world. Now suddenly, the enormity of the decision strikes me. Should I give up all my dreams and go to this average school and slog it out? Or should I do everything possible to get myself lifted off this waitlist? The uncertainty comes from too many factors here: The waitlist can theoretically move till August (that means a lot of patience). The school where I am admitted needs me to put in a non-refundable $ 2000 which for an Indian is a lot of money to throw down the drain. The Indian management school where I applied is now struggling with a Supreme Court order that has placed all admissions on hold. At least, I could have taken that school up as a safety net.
Alas, nobody knows when their admissions would come out. On top of it all, I am getting married next month and till I know my final decision, my fiancé cannot make her career moves appropriately. There is also a job where I have to put in the papers and serve the right notice period. So does one deal with such uncertainty?
If somebody had asked me this question in a B-school interview, I would have told them the way I deal with it at work. I would list down all options and the decisions that can be taken by going down each route. I would then try to understand what the probability of each of these options happening is? (Using subject matter expertise). In some cases, there is inherent uncertainty built into the process through various external dependencies. In such cases, I would try to stall and wait for as much time as possible before taking my decision at the final moment. There could be many changes that can happen meantime and in an organization, one needs to be extremely lean and agile to respond appropriately to such changes. But at all times, one needs to proactively push to gain more information and more depth to aid the decision making. Sometimes, it helps waiting for more information, but in a lot of situations, it helps when you seek out the information and actively push for it. Basically, make things happen rather than wait for things to happen.
Let me apply this analogy to my personal life now. I can push more information to my waitlisted school and that is exactly what I am going to do now. I will send them a personal update reaffirming my interest in the school. I have a recommender who will add additional feedback about me as a mentor. I have to try asking a current student there to write some good words about me. This is all that I can legally do to get off the waitlist, remaining is in the admission committee’s hands. On the other hand, I have to pay up the initial $ 1000 deposit at the other school to block my name in the admissions list. Even though this could be a monetary waste, this seems unavoidable now. Often times, leadership is about taking these tough decisions with less data. While getting off the waitlist would be a great thing to happen, this monetary loss could well be an act of charity getting the school of your dreams. The only certainty right now is my impending marriage and hopefully, with another month passing, more decisions become clear.
I am going to attack this uncertainty with all that I can: hard work, energy, communication, fishing for more information, actively staying on my nerves to ensure I am flexible to changes and respond quickly and easily. Let us see how things pan out, after all, they should happen only for the good.
But I know one thing about Uncertainty: Only the toughest survive it and enjoy the excitement it brings. I have survived many such decisions in the past, this would be another success story :)
