Many people in fact almost everyone going to say that a package of INR 31 LPA is a more glittering option than MBA at IIM Lucknow. However, I beg to differ. My opinion is based on the thinking that no matter how much you earn, an MBA is always a game changer. This is because you learn a lot in a classroom full of masterminds and the best professors than you do at work. Although you might be able to apply those skills only after a long time that’s the case with MBA, it does not give you short-term benefits, it provides long-term benefits. It ends up being the reason for your success and excellence.

MBA is not a specialization but rather a general course. It teaches everything in finance, accounting, and marketing. A successful leader requires basic knowledge of anything and everything which is possible through an MBA only. It will open gates for you to carbon black manufacturers, Steel manufacturers, and so on. You can plan your career after your MBA and climb the ladder slowly but swiftly. From a tech company to a core company to a banking sector, you can switch your posts depending on your interests.

Another major advantage of pursuing an MBA is making some great friends that will become great leaders and broaden your networks.

My sister was in a similar situation and could not reach a decision. But in the end, she went for MDI. She does not regret her decision at all as she says MDI is one of the best B Schools in India. Some points that support her opinion are

• MDI is recognized by the Eduniversal rankings as a 5 palms institute. This included other top B Schools like IIM ABC and a few others.
• The MDI faculty is at par with that of any top IIM. The faculty strength is around 80 permanent renowned faculty. The faculty is extremely experienced and well-known in the industry. 
• MDI has its own mutual fund which is unique in the whole country. One of the most reputed investors is Sanjay Bakshi.
• Corporate talk series is conducted to host guest lectures led by eminent people like the CEO of Deloitte US.
• The students at MDI enjoy a fun-filled campus life. The ambiance is rather fresh and clean with trees and red bricks.
• The exchange program is also top-notch with partnerships with some of the top universities across the globe.
• The placement opportunities are also much broader and versatile here. Many companies that only visit IIM A B C, visit the campus of MDI as well.

Consulting

MDI has largely improved in the consulting domain over the past few years. The most reputed recruiters of the consulting sector visit the campus and offer the best profiles. Some of them include 

• AccentureStrategy
• Aditya Birla Group
• Boston Consulting Group
• Deloitte India
• Deloitte USI
• McKinsey & Company
• PwC US Advisory
• Hinduja Group
• RelianceIndustries Limited

The highest CTC in the consulting domain at MDI stood at INR 38.30 LPA with 171 offers. So if you are ready to give up the IIM tag for a lifetime, then MDI is the best option.

Let me strike off IIM Shillong from your list of preferences. This is because no matter how well it is doing, it can never compare to the older IIMs and the recruiting companies know that very well. Now let’s look at the other two options.

NITIE: This option is a feasible one only if you are interested in Operations. I won’t suggest it for any other domain.

MDI Gurgaon: From the alumni base to location advantage, this B School has it all. Now that you have chosen your college, let’s discuss the domain you will be choosing. I will suggest you go for HR only if you are seriously passionate about it. If you are confused between HR and Operations, the best option is the IM course. The PGP-IM of MDI, Gurgaon is the best International management course in India. Its USP is its generic nature making it possible for you to start your career in any domain like marketing, finance, Consulting, or product management.

First let's sink in the fact that anyone who gets a call from IIM Calcutta is anything but average or below average. The fact that you got selected is enough to claim that you are not below average.

But if you still consider your profile inferior to others then you need to put in extra efforts within the institution. Honestly even the above average students have to put tremendous effort inside any IIM. Look at the bright side. You, being a below average student, just need to put in more effort than an average student to get at a level equivalent to that of an above average candidate.

So yes, it is worth joining IIM Calcutta with whatever profile you have.

No, I wouldn’t recommend you apply for a PGPX course at IIM A B or C if you have completed a part-time MBA from IIM Lucknow. The reason is the huge overlap of electives in almost all the programs offered at IIMs. Leaving a few courses most of which are repeated in all the programs be it part-time or full-time.

Towards the end of the course, you might end up spending a hefty fee and lots of time and yet not learning anything new. If anything you might just get placed at a better firm. But that too will be useless if you are unable to harness the acquired knowledge and skills in the open market. The question is if your job will be worth your year lost, your lost opportunities, and 25-30 lakhs of loan.

Still, if you want to pursue the course go for a top MBA course abroad. That might make a difference in your resume and job prospects.

Leaving a job with such good pay is a very risky decision and should be considered only if it’s the top B School you are after. These include the top IIMS, XLRI, FMS, SP JAIN, or MDI. Giving up your high-paying job to join IMT Ghaziabad does not make sense. The ROI will not be worth the program considering the two-year opportunity loss of salary and high IMT fees.

Moreover, IMT Ghaziabad placements are quite restricted in the sense that if you are not among the top 100 students in a batch of 600 students, you will end up with an average package only. The companies visiting IMT Ghaziabad offer the MT position usually to freshers and not students with work experience. Considering all this I don’t think leaving your job for an MBA from IMT Ghaziabad is a wise decision.

Anyone who can get 93.26 percentile without any preparation is bound to get 97 or 98 with proper preparation. So why give away the chance easily when you can aim for a better institute? It’s best you prepare for the CAT sincerely this time and target the top B Schools in India. 

However, if you are planning to sit for CAT again, you need to be certain about some things. Like you will have to tolerate tremendous pressure and a hectic schedule. You will have a non-existent social life and all your energy will be invested in preparing for CAT. Most importantly you have to remain consistent throughout your preparation. Without consistency, all your efforts will go in vain. You should also make research the colleges you are planning to target next year and study their respective admission criteria.

But if you are not confident enough to sacrifice so much just to risk a year, you can always go for IIM Bodh Gaya or Sambalpur. Both these IIMs are new but will provide the necessary means to start your career. Basically, you need to be sure of what you are expecting from your MBA degree and you will have the answer.