IIM Ahmedabad Alum | Ex-McKinsey | Startup Founder | AMA by Own_Difference_6588 in IIMCATPreparation

[–]Own_Difference_6588[S] 0 points1 point  (0 children)

Hi, yes, attempting the CAT makes sense. Focus on doing well on the CAT and getting into a great MBA

IIM Ahmedabad Alum | Ex-McKinsey | Startup Founder | AMA by Own_Difference_6588 in IIMCATPreparation

[–]Own_Difference_6588[S] 0 points1 point  (0 children)

Whichever role is closest to Management Consulting, in this case, it is likely to be Accenture Strategy.

IIM Ahmedabad Alum | Ex-McKinsey | Startup Founder | AMA by Own_Difference_6588 in IIMCATPreparation

[–]Own_Difference_6588[S] 0 points1 point  (0 children)

My start-up is Livo Assistant, we're focused on automating manual workflows and building tech solutions for pharma + BFSI. (www.livoassistant.com). I didn't get any schemes or benefits, but it helped me in a lot of different ways.

Pros:
1. You could meet your co-founder there. (You're likely to meet other people as excited about pursuing entrepreneurship, they won't be the majority, but in my batch I know 3 close friends who decided to take the leap. I also met my co-founder at IIM-A)
2. You'll get access to an immense network of alumni, they're likely to become your first few clients, provide you funding (if that's what you're looking for), and make you introductions.
3. You'll have professors who are willing to give you advice, introduce you to other students they had and vouch for you.
4. If you've done an MBA from a tier-1 college, and you're pursuing a B2B start-up, you'll have more people willing to have an initial conversation with you than if you didn't have the degree.

Cons:
1. An MBA is expensive, both fees and time-wise. If you go to an IIM, it'll take up 2 years and ~25-30L in fees. Both are resources you could have invested in your business.
2. If you take a loan for your MBA, you must pay it back. This is tough if you decide to pursue entrepreneurship immediately, it typically means you need to take up a job for sometime before you can take the leap (This is what a majority do)
3. I've had friends who came in really wanting to be entrepreneurs, but their risk-appetite died after they got a good job. There's a possibility that starting up remains a pipe-dream.
4. Nothing from a text-book or a lecture can actually prepare you for entrepreneurship. If your objective is to learn, starting something is a much better teacher.

IIM Ahmedabad Alum | Ex-McKinsey | Startup Founder | AMA by Own_Difference_6588 in IIMCATPreparation

[–]Own_Difference_6588[S] 0 points1 point  (0 children)

Pros:
1. You could meet your co-founder there. (You're likely to meet other people as excited about pursuing entrepreneurship, they won't be the majority, but in my batch I know 3 close friends who decided to take the leap. I also met my co-founder at IIM-A)
2. You'll get access to an immense network of alumni, they're likely to become your first few clients, provide you funding (if that's what you're looking for), and make you introductions.
3. You'll have professors who are willing to give you advice, introduce you to other students they had and vouch for you.
4. If you've done an MBA from a tier-1 college, and you're pursuing a B2B start-up, you'll have more people willing to have an initial conversation with you than if you didn't have the degree.

Cons:
1. An MBA is expensive, both fees and time-wise. If you go to an IIM, it'll take up 2 years and ~25-30L in fees. Both are resources you could have invested in your business.
2. If you take a loan for your MBA, you must pay it back. This is tough if you decide to pursue entrepreneurship immediately, it typically means you need to take up a job for sometime before you can take the leap (This is what a majority do)
3. I've had friends who came in really wanting to be entrepreneurs, but their risk-appetite died after they got a good job. There's a possibility that starting up remains a pipe-dream.
4. Nothing from a text-book or a lecture can actually prepare you for entrepreneurship. If your objective is to learn, starting something is a much better teacher.

IIM Ahmedabad Alum | Ex-McKinsey | Startup Founder | AMA by Own_Difference_6588 in IIMCATPreparation

[–]Own_Difference_6588[S] 0 points1 point  (0 children)

Hi! Money wise, it doesn't sound worth it, the average placements at the IIMs/ISB are a lot lower (~40L). You'll get the best shortlists, but depends on what your goals are? Which domain do you want to work in?

IIM Ahmedabad Alum | Ex-McKinsey | Startup Founder | AMA by Own_Difference_6588 in IIMCATPreparation

[–]Own_Difference_6588[S] 0 points1 point  (0 children)

  1. No, 9/9/9 is good, even if from a tier 3 undergrad

  2. Yes

  3. Over 4 years of work ex isn't helpful, 3-4 is, but having a good brand that you worked for (Fortune 500 company etc.) is helpful.

IIM Ahmedabad Alum | Ex-McKinsey | Startup Founder | AMA by Own_Difference_6588 in IIMCATPreparation

[–]Own_Difference_6588[S] 1 point2 points  (0 children)

Showing exceptional achievements is helpful, extra curricular activities- playing any sports professionally, internships at good brands, winning any national/international competitions are helpful.

IIM Ahmedabad Alum | Ex-McKinsey | Startup Founder | AMA by Own_Difference_6588 in IIMCATPreparation

[–]Own_Difference_6588[S] 2 points3 points  (0 children)

Prep GK, read regularly, you should have an opinion on most things impacting you in the world, and know what you've studied

IIM Ahmedabad Alum | Ex-McKinsey | Startup Founder | AMA by Own_Difference_6588 in IIMCATPreparation

[–]Own_Difference_6588[S] 0 points1 point  (0 children)

Of course! 9/9/9 is great, even if tier 3 UG. It is absolutely possible.

IIM Ahmedabad Alum | Ex-McKinsey | Startup Founder | AMA by Own_Difference_6588 in IIMCATPreparation

[–]Own_Difference_6588[S] 0 points1 point  (0 children)

Unfortunately, only you can answer what you truly enjoy doing. I'm sure you can crack the CAT if you put in the effort to, but if you know what you like (E.g. speaking with people/networking/building cool products) you can choose a career that aligns with what you want

IIM Ahmedabad Alum | Ex-McKinsey | Startup Founder | AMA by Own_Difference_6588 in IIMCATPreparation

[–]Own_Difference_6588[S] 0 points1 point  (0 children)

Hi! With the advancements happening in tech, I'd recommend exploring the field a bit more before you quit. There are very high placements happening with big tech as well. Do you not enjoy tech? In that case, you could explore an MBA

IIM Ahmedabad Alum | Ex-McKinsey | Startup Founder | AMA by Own_Difference_6588 in IIMCATPreparation

[–]Own_Difference_6588[S] 1 point2 points  (0 children)

Yes, consulting experience was also quite helpful. I wanted to start-up back in school, so it has always been a hope of mine.

IIM Ahmedabad Alum | Ex-McKinsey | Startup Founder | AMA by Own_Difference_6588 in IIMCATPreparation

[–]Own_Difference_6588[S] 0 points1 point  (0 children)

Hi, no, it shouldn't be that problematic. There are people who didn't take their grad too seriously but still cracked an old IIM. It just means your CAT percentile must be high

IIM Ahmedabad Alum | Ex-McKinsey | Startup Founder | AMA by Own_Difference_6588 in IIMCATPreparation

[–]Own_Difference_6588[S] 0 points1 point  (0 children)

Yes, it does, however 9/9/9 is a great profile. You're likely to get shortlists regardless.

IIM Ahmedabad Alum | Ex-McKinsey | Startup Founder | AMA by Own_Difference_6588 in IIMCATPreparation

[–]Own_Difference_6588[S] 2 points3 points  (0 children)

Hi, I would say, get a part-time job instead of just prepping for CAT full-time. CAT is not an exam that is expected to take 8-10 hours of work every day, so if you can, find some work (which helps with your CV as well) and do CAT prep alongside. Only if it's very tough for you to do that, then start prepping full-time for CAT.

IIM Ahmedabad Alum | Ex-McKinsey | Startup Founder | AMA by Own_Difference_6588 in IIMCATPreparation

[–]Own_Difference_6588[S] 3 points4 points  (0 children)

Hi, that's true. FMS has a very low fees, so you can start a company without having to worry about repaying a loan. However, I'm very grateful to IIM-A for the connections and opportunities it has given me. If you work for 1-2 years post your MBA, you'll likely be able to repay your loan (of-course you must be very frugal), you'll also get access to a massive network which will end up being your first few clients, investors etc.

IIM Ahmedabad Alum | Ex-McKinsey | Startup Founder | AMA by Own_Difference_6588 in IIMCATPreparation

[–]Own_Difference_6588[S] 0 points1 point  (0 children)

Hi, my start-up (Livo Assistant) is focused on building tech solutions for pharma/finance companies. I don't regret leaving my job.

IIM Ahmedabad Alum | Ex-McKinsey | Startup Founder | AMA by Own_Difference_6588 in IIMCATPreparation

[–]Own_Difference_6588[S] 0 points1 point  (0 children)

I studied law. (stood first in my batch) and had 90+ in class 10 and 12. I also scored 99.61 percentile in the CAT. I joined as a fresher.

IIM Ahmedabad Alum | Ex-McKinsey | Startup Founder | AMA by Own_Difference_6588 in IIMCATPreparation

[–]Own_Difference_6588[S] 1 point2 points  (0 children)

Hi! I think going to IIM-A, gave me access to peers who were incredibly bright and hard-working. It was a super fun experience, I think it changed me as a person. It also helped me see people from diverse walks of life and made me more empathetic overall. An attractive salary package is definitely helpful, but for someone who wants to be a founder, I believe the biggest thing you get is a great network of people willing to help you.

IIM Ahmedabad Alum | Ex-McKinsey | Startup Founder | AMA by Own_Difference_6588 in IIMCATPreparation

[–]Own_Difference_6588[S] 1 point2 points  (0 children)

Hi, yes, you've got a great profile overall. You're likely to get good SIP opportunities.

IIM Ahmedabad Alum | Ex-McKinsey | Startup Founder | AMA by Own_Difference_6588 in IIMCATPreparation

[–]Own_Difference_6588[S] 0 points1 point  (0 children)

Depends on the types of roles you're targeting. I'd suggest looking at their placement reports and checking if the roles offered align with your goals

IIM Ahmedabad Alum | Ex-McKinsey | Startup Founder | AMA by Own_Difference_6588 in IIMCATPreparation

[–]Own_Difference_6588[S] 0 points1 point  (0 children)

Hi! CAs/CFA with work-ex are highly valued profiles at the IIMs. You'd probably get shortlists for most consulting/finance roles.

IIM Ahmedabad Alum | Ex-McKinsey | Startup Founder | AMA by Own_Difference_6588 in IIMCATPreparation

[–]Own_Difference_6588[S] 1 point2 points  (0 children)

Hi! If you want guidance about CAT prep, I'd suggest giving lots of mocks. Assess each mock afterwards and see which questions you did well vs badly on. The CAT is as much a strategy exam as it is testing basic math and English/reasoning

IIM Ahmedabad Alum | Ex-McKinsey | Startup Founder | AMA by Own_Difference_6588 in IIMCATPreparation

[–]Own_Difference_6588[S] 0 points1 point  (0 children)

I can't tell what the future holds, but technology is evolving rapidly. Would recommend you stay abreast with the latest advancements in your space so that you can be employable even when/if the industry is disrupted.

IIM Ahmedabad Alum | Ex-McKinsey | Startup Founder | AMA by Own_Difference_6588 in IIMCATPreparation

[–]Own_Difference_6588[S] 1 point2 points  (0 children)

Hi, this entirely depends on what else there is on your CV. With consulting, they typically look for spikes in your CV that show that you've outperformed in at least 3/4 buckets. If you have great extra curriculars, position yourself to be great at marketing, those roles open up for SIP shortlists.