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HOW MUCH MONEY IS TO BE SPENT ON PREPARATION

POLL QUESTION : How much total money will I be spending on preparation, that is on study material, books, coaching, application forms ,prospectuses, GD/PI etc, by the time the admission process is over ?

Responses : 80 UrPercentile subscribers.

Choices   Reply %

Less than Rs.9000 :          20 % 
Rs. 9001 to Rs. 12000:     12%
Rs. 12,001 to Rs. 15,000:  13%
Rs. 15,001 to Rs. 18,000:  10%
Rs 18,001 to Rs. 21,000 :  7 %
Rs. 21,001 to Rs. 24,000:  10 % 
Rs. 24,001 to Rs. 30,000 : 7 %
Rs. 30,001 to Rs. 40,000:  7 % 
Rs. 40,001 to Rs 50,000:   10 %
Rs 50,001 to Rs 60,000:     0 %
More than Rs. 60,001:      1 %

COMMENT BY MEMBERS

Salar : I had spent 15000 for coaching and wish to spend 7000 for forms and 10000 for GD/PI expenses. This can be reduced if towards august or September we get a clear picture of where we stand in the CAT race.

Kumar Rahul :
Coaching classes full time            –          Rs 16000 /-
Filling up all the forms                    -          Rs 15000 /-
Expenses for attending 4 GD/PIs -          Rs 5000 /-
Miscellaneous expenses                – Not taken into account
Total approximate expenses        – Rs 36000 /-

Shipra : I spend 25000 for CL regular classes and around 10,000 for forma and aroound 15000 for giving interviews, in total around 50,000.

Prabhat : Actually spending money on preparation depends on various aspects.
Firstly, its your mindset as how much you are well prepared prior to the preparation. Are you in regular practice of reading News Papers, magazines, novels? Do you like churning your mind with those mind flinching quizes and puzzles? Do you like number games? All these things will definitely put you at ease to leave the coaching and therefore save your around 15-20k. Therefore, alongwith all your these regular practices, you can have a good test series costing only around 4-6k as well as a good study material costing around 2-3k and thereby analyse your level of preparation much prior to the D-day. You can also photo copied all those material (save half of the actual price) or take it from anyone who has cleared the exam (only when you have better links).
Secondly, if you have been an average student, then you will have to be in practice of all the aforesaid things so as to prepare your frame of mind and that can only be done by any good coaching. So in this case you will have to expend around 15-20k. There you need not expend on the test series and study materials.
Thirdly it is your limit up to which you can expend on your education. Well everybody has its own limitaions and bindings. Nobody can cross their limits and thereby copy others. So, applying the colleges is totally depends upon your limitaions regarding finance (for average students: - in this case you can expend around 4-6k on filling the application forms of different colleges as per your score) and your capabilities as well as your score which you get in the examination (for the students above average: - in this case you can go for filling the application forms of all the creamy layer of management, i.e. can expend around 10-20k)

Sucheta : preparation requires joining a good coaching institute which costs between Rs.16000-20000, depending on the institute. also buying the various forms also increses the cost by about Rs. 4000-5000. so in total one has to spend maximum of Rs. 25000 for preparation. but most important of all is being focussed and giving your best.

Ashish :  I feel this depends on which coaching you are going to join and which colleges you want to apply. for me I have decided that I will divide the colleges in three different tiers . i will select 2 colleges from  each tier and then apply to those colleges. as far as study material is concerned they are avilable at cheaper rates ,though second hand. I  feel overall you need to invest at least around 20-25k.

Parag :  I spent 6000 on coaching+1100 on the form. Thats it mostly. Doesnt seem much compared to what others spend on mba education but i feel one shouldnt use too many books. Stick to a good coaching study material. It generally suffices.

Maalwika :   Including everything my expenses comes around 20,000/-  I have joined mock cat series of PT. Bought study material of IMS.  Money spent  can be optimised if we our preparation is goal oriented. We should know be aware of our potential which will help us in filling those college forms from where we expect to get the calls.
Jitentdra :   Personally speaking I  have spent almost 20000 and i think u can optimise this money by cracking CAT with at least 95 percentile and getting admission in a good college.
 
Sourav :  I think coaching, application, application  to institute all require in around 30 thousand. I think I  can only optimise these money by hard work.

Avadhoot :       Atleast one test series for 3000/5000 depending upon simcat/aimcat..  Study material books will be enough at about max 2000/.  Correspondance course would cost about 5000.  A crash classroom course is about 12000.  Long term full course is about 20000.  So one planning for classroom coaching would be done within 22000, Other may need from 5000 to 8000 Rs.

Saurabh :    Roughly Rs.25,000/- including the applications to various institutes. The money spent in preparations and on classes depends on person to person and one’s capabilities. The money spent in applications can be optimized by properly and practically selecting the institutes by first analyzing your performance in mock tests.

Vinoth  : I would think close to Rs.25,000 would be spent on coaching classes, application fees etc. To optimise the money, one should carefully select the colleges to be applied after matching with the research interests and availability of the required field of specialization.
 
Jyot :  Much money should not be invested as it need to get returned soon.
 
Aditya :  At least 200 Rs/- for books. 1200/- Rs for Cat Application form. 3500/- Rs for Simcat +. Utilization of money can be optimized by clearing the CAT in one go.
 
Vinoth :  I have already spent nearly 15000 in coaching classes. But merely coaching classes are not going to help. There should be a very great attempt from the student side.  
 
Pradeep : I have paid Rs 19,500 for the coaching classes. I expect to spend another 10,000 - 15,000 on books and Personality development and Communication Skill programs. The applications would be around Rs1500 for IIM. 
 
Mahesh :  This is completely subjective (except for the fees part of it) but as far as I am concerned I would like to be prudent on spending on various coaching classes. I am looking forward to get into PGSEM course so I would like to persuade my employer to be the sponsor fort he program.
 
Ritesh: Do not go for anything & everything. Make targets & focus
 

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