Why not IIMs

Since I am applying for the one year courses for in the UK, I am often asked why not IIMs ? IIMs also have the one year PGPX (names may differ across IIMs) courses. And I have the required experience as well (will complete 7 by july 2010).  Most require at least 5 years of WE after graduation, with IIM A and B requiring 7 years.

Here are a few answers.

1. I am looking for diversity - Might look like just a funda, but its true. I want a class with people from diff backgrounds and countries as well. While IIMs do have students from different countries, but the number is limited and Indians dominate the pack. I might end up meeting a few old friends from my college, or past colleagues at IIMs. This will not be the case if I go to the UK. The class at most foreign universities are well represented by different countries and people with different backgrounds. Even the faculty will be diversified. Here in India, I will be stuck with the Indian way of thinking, but in UK I will get the opportunity to work and interact with people all of whom think differently. I will gain a lot of perspective and will grow personally.

2. Also, post MBA jobs at IIMs are mostly in India. And I do want to work in a foreign company at least for some time post my MBA. I have worked in India for the last six and half years and now I want to work in some other country and get to know the cultures. I want to get exposed to a foreign culture and gain more - work-wise and personally.

3. Getting out of your comfort zone.  After having Studied, Lived, Worked in India for so long, I think I am quite cozy in my comfort zone. I have done what all others of my age, my peer have done. Studied hard in XII, get into engineering college, then get a job in IT. All has been smooth as of now. And somewhere the challenge is missing. I want to challenge myself now. Not denying that studying at IIMs will also be a challenge in itself, but it will be much more in a foreign land.

4. What about the cost ? IIMs have relatively lower cost than any foreign MBA in UK or the US. But I wont let the cost come in between this time. Till now, I have done only those things which have looked favorable. Now its the time to break the trend and do something different. "But 50 Lakhs is not a small money dude" - reminded one of my friend. And I say - people have taken loans, and so will I. Lets think about repayment when we come to that.[see how I plan to finance my MBA] It may be recession, but I think I will land a job in UK and be able to repay soon. And hoping that I  get some scholarship as well, this could be an easier ride.

5. The one year courses at IIMs are more useful for those already in a managerial role and/or having 10-12 years experience. So I think I do not fit in. Moreover, IIMs look into the marksheets and degrees more than anything else.  On the other hand, the schools in US and UK look more into the personal aspects of the application and less into the acads and managerial experience. This is my personal belief and need not be true. Also because of the tough competition in India a few candidates get through, and my views might be biased.

Hence I decided not to apply in IIM. May be 4-5 years down the line if I have a profile that suits the IIMs, may be yes.