This is a very important note for all the GMAT Coaching Students: Read this carefully as this will really help you as you move forward with your GMAT Preparations.
As a part of our GMAT Preparation program, A lot of you ask me- HOW Can I GET 100% Scholarships? My life gave me opportunities to get more than 80 Crores of Scholarships for you from TOP Tier MBA Programs. I wanted to share with you what can you do to minimize your Financial BURDEN. I wish I could get 100% for everyone- I cannot as the Schools have got to CHARGE Somebody to RUN their costs – But I can really make things better for you. Just follow the steps.
Before you explore 100% scholarships, let me explain the concept of Scholarships to you: And we conduct a lot of seminars on scholarships with our GMAT Coaching Classroom Students, and I will encourage you to attend one of those.
A scholarship is a very STRONG Negotiation tool that the schools use to bait the right candidates into accepting the admits. These scholarships help the schools meet their Yields( Number of people accepting the offer/Total number of offers made). Higher the yield- better are the statistics that are ploughed into creating the Ranks of these programs.
Let me share a SITUATION with you- Your Dilemma: You tell me! What would you do? Would you take a 95 lac loan and go to MIT Sloan, Tuck, Columbia( 1.16 crores), or would you rather join Kelley with 50% scholarship.
loan, and are keen on an education that comes with maximum scholarship ( Even though at the cost of the Brand of the school you will join). What is your appetite for risk?
One of my applicants recently shared that “Marriage kills the risk appetite”, and then he smiled. I was also told that “I will understand this someday” and then he smiled. J…
Coming back to the Original Dilemma:
WHO WILL FACE THIS DILEMMA: You could be an Indian Male with 5+ years of work experience and a 720+ score or an Indian Female applicant with 3+ years of work experience with again a 720+ Score.
If you are an Indian Female applicant with a GMAT =/> 730 or an Indian male applicant with a GMAT >/=740, you will have bigger $$$$ Dilemmas. For example, another applicant of ours,Vikram, shared his decision to join Boston College with a 65 lakh Scholarship as opposed to joining Kelley with a 45 lac scholarship. He was primarily driven by scholarships, and was not keen on taking a loan at all. Even though he had to give up a rank 20’ish school, and join a school below 30, he had his own risk appetite.
MORE CASES OF THESE DILEMMAS: VERY WIDE PATTERNS OF HOW THE INDIAN MIND WORKS AND HOW THE STUDENTS MADE THESE DECISIONS
GMAT Coaching/GMAT Classes and MBA Admissions consulting Case Study 1:
One of the recently admitted applicants( Thomas) had a GMAT 700 and was given 100% tuition + Stipend from a US Rank 26’ish School( Michigan State University). His pockets were probably deeper than many others and he decided to go to Rotman by spending 80 lacs. He did have other reasons for joining Rotman. Getting a job with a bulge bracket investment bank was more important for him ( Even though in Toronto) than working for a role in operations in the United States. Industry/Function was more important for him than the country.
GMAT Coaching/GMAT Classes and MBA Admissions consulting Case Study 2:
This case study is of an applicant who had already scored a 690. He knew most of the concepts very well, but was struggling to get a 51 in quant, and a decent accuracy in Verbal. His Reading comprehension was is weakest area and was the prime focus of the GMAT Preparation her a PythaGURUS. As a part of the GMAT Process, Mohit elevated his score from 690 to 770 in 7 to 8 weeks.
Although he had an average profile ( had worked in a KPO for 4 years), we really liked his perseverance, and focus on story building. We initially wanted him to apply to top SCHOOLS and take a shot at MIT, Wharton, Harvard, Stanford, and Kellogg. However, I realized that he was more keen on schools that will offer him more scholarships $$$$. He was absolutely right in his reasons and I did not insist harder as he wanted to go on the Loans.
2 months of GMAT Coaching, and another 3 months of MBA Admissions consulting, Mohit finally joined a TOP 10 US MBA Program( Duke Fuqua) with significant scholarships.
My Recommendations: You carry different risk appetites, and weigh the schools either by ranks or by $$. IT JUST DOES NOT MATTER. You should be satisfied with the choices you make.
GMAT Coaching/ GMAT Preparation/MBA Admissions Consulting Case Study 3:
This student started with an aspiration to join Columbia and had taken GMAT Multiple times before. His score was hovering between 640 and 680 and we had clearly identified that based on his profile, he will definitely need to get a significantly higher score than that. While he was working on the admissions consulting services, he was asked to join the rigorous GMAT Training programs at PythaGURUS. Since he was short of time, he started attending both weekday and weekend classes, and started working on the MBA Applications simultaneously. His was strong in Reading comprehension, but was very weak in Quant and Sentence correction. We followed a very different approach to break his verbal barriers, and within 1.5 months, Sentence correction became a second habit for him. This helped us take care of the 13 to 14 questions on the Verbal portion of GMAT. For Critical reasoning, we followed a unique approach- in addition to attending classes, he started attacking practice questions in both timed and untimed practice sessions. Within 2 months, he had a GMAT 730, and was accepted by Columbia. Both he and I were happy with the results. We was happy as I knew that I will not have to work on his 5 other applications after this. He was happy as Columbia was GOD for him( It is that for many people for MANY MANY REASONS). He applied in the early bird round, and Columbia asked him to pull out his apps from all the other schools( Early Bird Clause: Google it if you do not know what I am talking about). He decided to do early bird round of Columbia despite knowing that he will have to give up any $$ that other schools might offer.
This is very important for GMAT Coaching Students: While not everyone gets scholarships, getting a 100% is not a rare event. You have to plan ahead of time, work methodically, get the right score, and apply to schools that will be more open to understanding your story.