In Lucknow, India, IIM Lucknow is a top management school. IIM Lucknow's pros and cons include:

Pros: 

1. Globally recognized management education at IIM Lucknow. It's skilled faculty and rigorous curriculum prepare students for corporate success.
2. Excellent infrastructure: IIM Lucknow boasts top-notch classrooms, a library, and computer labs. The school has a sports complex, gym, and other leisure amenities.
3. Networking: IIM Lucknow students have several opportunities to network with peers, instructors, and industry experts. Career possibilities may improve.
4. Cultural diversity: IIM Lucknow has a diverse and stimulating student body from India and beyond.

Cons: 

1. Cost of living: IIM Lucknow can be expensive for low-income students. Food, lodging, and other expenses add up rapidly.
2. Limited social life: Since IIM Lucknow is residential, students spend most of their time on campus. This restricts their social life and city exploration.
3. Competitive atmosphere: IIM Lucknow's competitive environment can stress students. Workload and performance pressure are high.
4. Remote location: IIM Lucknow lies on Lucknow's outskirts, making it hard to reach the city's amenities and culture.

IIM Lucknow has pros and cons. Students should consider these aspects before joining the institute.

First of all, bear in mind that there is never a 100% certainty of getting a call from a specific interest as there are many factors that determine it. 

Considering your profile that lacks work experience and has witnessed a decline in the graduation marks, I don’t consider anything below 99.9 to fetch you a call from institutes like IIM Calcutta, Lucknow, Bangalore, and Ahmedabad. All these institutes only accept the best profiles and high scores. So unless you score a perfect 100, it will be difficult to get admission here.

The faculty is adequate but not exceptional. The quality of hostels varies considerably. Which hostel you get depends on your chance. Peer group is once more acceptable; they aren't particularly talented, but you can't also say they aren't talented. Mess is acceptable. There is a canteen where you can get more tasty but unhealthy food. Every room has a high-speed internet connection. Everyone is assigned a single room so that they can learn to be self-sufficient. Although the curriculum is demanding, the workload is manageable. You have plenty of free time to relax. 

The cost, which is high but not as high as options A, B, and C, is an important consideration. Therefore, only go there if you can afford it. Only a small portion of what you learn in school will apply to real-world situations, but you will learn a great deal outside of it.

Graduating from one of the oldest IIMs certainly has its perks. Be it in terms of placements or recognition, if you get yourself into IIM Lucknow, the college will take care of most of the things. The one doubt students have is whether they should quit their high-paying job to pursue an MBA and my answer would always be yes. 

Doing an MBA is never a bad idea if money is not a big constraint for you. If you search the 50 youngest Indian entrepreneurs, you would probably find that more than 30 of them are IIMs graduates. And it would not surprise me if 10-15 of these young brilliant minds were from IIM Lucknow. 

Being an entrepreneur in the 21st century is not a difficult task but sustaining a business is and MBA from such a reputed college probably help you with that. The table shows you the prominent recruiters from different domains:

IIMs are known for their top-quality management education and are premium institutes for the same. In addition to their flagship courses, the One Year MBA from IIMs for working professionals is offered as a Full Time Residential MBA Program for Executives. This program is much coveted among working professionals with work experience of 3 to 7 years. The program has similar USPs of two year MBA program except that it is more rigorous. Because of its dynamic nature, the placement opportunities offered to one-year MBA students are even better. 

Here is a one-to-one analysis of each program.

IIM Ahmedabad PGPX:

The Post Graduate Programme in Management for Executives (PGPX) is one of the finest one-year, full-time, residential programs in the world. Its best-suited for bright, enthusiastic, and aspirational executives with professional experience. This program attracts top talents from diverse industries, cultures, and geographies.

IIM Bangalore EPGP: 

IIM Bangalore offers an intensive one-year residential MBA programme created specifically for professionals with remarkable track records and 5 to 12 years of work experience in a wide range of industries.

IIM Calcutta MBA-Ex:

IIM Calcutta's MBA for Executives Programme (MBA Ex) is One Year Full-Time Residential MBA Programme that provides mid-career professionals the ideal platform to augment their existing skill sets and paves the way for senior and top management roles in the industry. MBA Ex at IIM Calcutta, since its inception in 2006, has spawned alumni who have demonstrated excellence in the leadership positions that they have occupied in their organizations. 

IIM Indore EPGP:

IIM Indore EPGP is a reputed one-year MBA is specially designed to enhance knowledge, AMBA skills and capabilities essential for managing and leading organizations and the program combines skill building with an exploration of good management practices.

IIM Lucknow IPMX: 

IIM Lucknow offers International Programme in Management for Executives (IPMX) at its NOIDA Campus to prepare working professionals for the top roles in business organizations.

All in all, each of the one-year MBAs offered by IIMs has a single purpose; to enable working professionals to climb the corporate ladder and receive better packages.