A huge wave of change has hit the Indian MBA market. The premier Indian Institute of Managements have reported a huge decline in applications among students seeking MBA admissions. These coveted B-schools have approached major Indian media houses to express their discontent against this turn of events. “We have been shocked by the decrease in admission application forms this year by 50%, a sign that students have found a better alternate and are daring to think beyond IIMs”, IIM-U’s admission department told to the Times of India.
The innovative IIN concept that allows anyone to learn (if they have the will) has been seen as the primary reason behind all this. “It is a
watershed moment in the history of B-schools. The students are explicitly expressing their preference for an online MBA learning through IIN, rather than the conventional way of joining a premier B-school for two years”, a professor in IIM-R told us at a request of anonymity. He went on to explain the paradigm shift, “If I were given an option of learning all MBA concepts through internet without paying for any lecture, why would I spend 15 lakhs for the sake of getting an IIM brand attached to your name for life?”
Besides the huge savings earned through IIN, students find the process of getting admission in IIN a lot less tedious. “Earlier, we had to prepare for CAT in an institute, fill countless forms, hope for a good day at exam, manage a good GD and interview and also not be a male/engineer to get into IIM, but my admission in IIN was so easy. All I had to do was buy a 300 MB data for Rs 102 only. I can’t be more delighted”, said Anish, a student who joined IIN last year and has already finished reading 12 marketing books through IIN.
If these are signs of things to come, IIMs need to drastically pull up their sleeves and offer MBA degree at prices that challenge IIN’s data pack rates, to stand any chance of getting admission applications. Only dark cloud for Idea’s IIN now seems the removal of net neutrality principles which can bring up the internet browsing costs and in turn, the admission fee for an IIN.