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10. Cost of Education

Compared to the lucrative placements that any premier Indian management institute provides, the cost of education appears moderate. The fees is about Rs. 1,20,000/- per year at the IIMs for a residential programme, whereas at JBIMS for a 'day-scholar' programme fees is Rs. 35,000/- per year.

11. Loans & Financial Assistance

The fact that a student needs financial assistance will not hamper his admission prospects. The best institutes give priority and preference to requisite talent and not capacity to pay the fees as a key criterion in the selection process.

The IIMs specifically mention that once a student is selected, his ability to pay the tuition fees is the last of the considerations. All IIMs state that no student, once selected, will be refused admission if he is not able to pay the tuition fees. Furthermore, numerous banks offer loans. Twenty five percent of the PGP students can expect to get adequate financial assistance from the Institutes' funds, trusts and companies.

Based on students' performance in the first year of the programme, many institutes award scholarships for the second year.

12. Institute Application Procedure

You can apply to the institutes after their advertisements appear. Most major institutes release an advertisement for applications in the national dailies from August onwards.

Given the number of institutes that vie for the students' attention, it is important that you do not end up applying to too many. Institute applications cost money and you may end up spending too much of it on applications. Lastly, the institutes and your aspiration must be compatible; therefore, it is important that you apply only to those institutes that will provide value to you.

13. Marketing as a Career Option

Marketing in its broadest sense is getting people and products together. This is the most popular specialization among students of management. It comprises four specific function areas: -

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* Contributed by -
Lionel Aronah,
Visiting Faculty, IIM Bangalore.
Published in The Observer of Management Education, Vol. 2 Issue 1 January 2007.