CrackMyMBA: Priya Vajpayee’s effort to help students with choices about MBA
India produces one of the largest numbers of MBA graduates in the world. With close to 4000 management schools and four lakh seats available as estimated by AICTE, there exists a big gap in demand and supply because of lack of awareness among aspiring MBA candidates. With their limited capacity, top tier I colleges naturally attract the creamy layer forcing other aspiring students with little options to choose from.
Priya Vajpayee is the co-founder of Voroso Software. She holds an MBA from ISB&M, Pune, and has worked in the corporate sector for over six years before taking a leap into entrepreneurship. Her online portal CrackMyMBA provides quality and timely information to MBA aspirants in India. She talks about how her venture is addressing this challenge in an interview with Yourstory.
What made you crack this?
The MBA market in India is cluttered with many B-Schools trying to woo students. The MBA aspirant is overwhelmed with choice and not enough information. The second tier B schools also face a challenge to reach out to likely students.
We decided to play the role of enablers to help aspirants choose right by providing them with correct information. If a student can weigh all the available options then there is no reason why a quality management school will not be able to attract him or her.
How did u come up with the idea?
We are a team of young professionals who have had exposure working in corporate sector for a few years and then decided to explore a different path. We were attending a family reunion where one of our cousins confessed that he was having a tough time choosing a B school. He said he had surfed the Internet but was unable to find the right fit given his CAT and XAT scores. In this quest to help him we realized that there are actual challenges for students who are not aiming for IIM and other top B-Schools, as the information is cluttered.
In a matter of two weeks we got together and launched our domain name and started with the website development.
What is the current trend in the market in this industry?
The aspirants are highly dependent on the marketing strategy employed by B schools to create visibility. Most of the information is word of mouth but digital media today has become an important tool. Students are seeking advice from experts through various social channels to enable their decision making.
Share your viewpoint about this industry.
The success of stakeholders is primarily dependent on the success of each participating entity. The students can be successful if they are associated with good B-Schools providing quality education and employment prospects. The success of the B-Schools is driven by recruiting and attracting talent available in the market and honing it to achieve excellence. The demand of the industry today is to recruit talented individuals with right exposure and training. Thus, the entire market is closely knit.
Over the years, there has been a steady growth of MBA aspirants which has reflected in terms of participation in various entrance tests.
What is your prediction of growth in the next few years?
B Schools across the nation have been growing in terms of batch size and strength and there is a significant increase in the number of colleges. We expect an upward trend in the market and with the possibility of foreign universities coming to India the scope is very bright. India will also attract many foreign students in the future and the overall quality of education is poised to improve.
Connect with Priya here.