This is a demotivating way of looking at things…No one, atleast the people i know, is doing MBA to keep themselves safe at some B-School in this time of recession. I agree that an MBA is not very secure(if the economy does not revive) but i argue, so not very is your job. Who can assure that you will not lose you job in the coming 6 months. And regarding the revival of economy, i completely differ with Mr Chabria. We are on a good track. Sectors are showing revival signs. Whats needs to be corrected is the mindset of people like you, me and others who think that recession will last forever. Recession is policy generated and emotion driven. Once the emotions change to smiles, we will see world going happy again…

I really beg to differ from the two comments posted above. I think people are getting too defensive without understanding the simple msg the article contains. The only thing the learned author is trying to say is, in my opinion, that we shouldn't have a herd mentality and blindly do something everyone else is doing. Every Tom, Dick and Harry is doing an MBA these days. Look around and you will know it is true. MBA has become something as basic as a bachelors degree and there IS an oversupply of MBA grads. Obviously that is going to bring the salaries down – that's basic economics. The author is merely suggesting that instead of getting admitted to just about any MBA institute in the hopes that the job market will revive by the end of 2 years and everything will be rosy, it makes more sense to get some work experience, especially if you would have to take a loan to fund your expensive MBA course. It makes more sense to earn some money and fund your education instead of taking a loan. A loan does cause significant amount of stress – whether it is 6 lacs or 60 lacs. A liability is a liability. And pray, what if you realise after a few months of working that that hyped up management job isn't even for you? That you don't like it and you want to pursue a different calling all together? Imagine being tied down to your job, not having the freedom to do what you want..slogging just because you have to pay the bills and that 36k EMI (which is peanuts acc to Mr. Pandey)… I wanted to go abroad for my LLM, and that's not cheap by any standards. Like any self respecting person, I would've taken a loan instead of borrowing money from my family to fund it. That would've been 20-25 lacs easily. But then I thought. let's get some work ex first and lo and behold, what do I realise 6 months into being a lawyer? That I don't even want to be a lawyer!!Imagine if I had taken that loan… I would've had to spend at least 3 years of my life trying to pay it back. 3 years of stress, frustration, depression, unhappiness…would anyone like that?
And the author is not negative or has written the article keeping with the current "mood". If you have read any of his previous writings, you would realise his is the only optimistic voice in the present scenario. He's not being negative or discouraging you from joining MBA, he's just asking you to explore other possibilities. Not blindly do what has been conventionally done. If you have the money, go for an MBA by all means. But if you have to take a loan, would it be so bad to get some work ex (and your own money) first? Is MBA the only way to acquire new skills? Anyone who is working will know the stark difference between what is taught in books & colleges and how things really are in the real world.What you learn from hands-on experience in the real world, no book or institute in the world can teach you. If only you read the article with an open mind would you understand what is being said. It's a pity people on this forum are reacting this way. So much for being broad minded and well educated… Are we really that afraid of change and exploring new ideas and new ways of doing things?
Ps-Dear Mr. Saurabh & Mr.Pandey, you really need to put things into perspective.

The central idea of the article is that MBA should not been scene as the only way to success. Every one has their own situations, challenges and one go by it. If you feel MBA will enchance ur skills and add to your personality then you should definately go for it..be it good time or bad times. Since you know MBA is added advantage for you it will pay returns sooner or later. But just because some XYZ is going for MBA and if you feel MBA should be done then you will be caught on the wrong foot. There are millions of ways to earn fat money and lead a luxurious life which we all dream of and MBA is not the only way to achieve it.

It is about what you actually want to do and whats your aim in life.
Also the article tells people to be little wiser in the tough times rather than driven by what others say. People might not believe but i have few frends who have quite IIMs, HARVARD even after converting there calls and they are successfull.

The article asks us to be smarter, plan our loves cleverly, look for your long term goals..introspect and see do really need to be an MBA for what you wanna be and if the ans is yes there is no stopping u.

All this talks of economy improving and gaining peak in one,two three years is based on specualtions.

Nobody realized that economy will nosedive after seeing peaks in Jan 2008. Even the corporates like TATA are facing challenges and signed multi billion dollars deal as they overlooked the bubble.

So dont plan your future based on speculations. Things may improve in coming few months and may not for years. Its upto us see what is the best way for us to sail through it and come out strongly.

I think this article is biased towards freshers. Those who do not have any money in their hands. Wat about those who have already earned for 2-3 yrs. Is Mr. Chabria asking them to work for 2-3 yrs more, then start preparing for entrance tests again.
I think max age of studying is in the range from 25-27.. The work ex guys/girls would have crossed that age.. When will they do MBA then??..
Also loans are not bad.. Don't discourage an instrument just because that instrument created a failure in some other country.. US market failed due to bad re-structuring of their loans.. Converting them into securities.. We don't have that principle here..
Also re-payment period lasts from 5-7 yrs after completing the education.. I think even with a decent job someone will be able to pay back that loan, keeping other plans on hold..
And Mr Chabria, I think u r considering every recession to be a great depression, which lasted for 10 yrs.. This recession might end early..
P.S: Strictly personal opinions..

I agree with Yogesh Chabria, for an loan beyond 8-12Lkhs.
As for a loan upto 5-6L is quite decent and managable for a person with 2+ yrs work-ex.

recession or boom an MBA from a top-15 Indian B-School was, is and will always be worth the money spent..not because of the "money spent-placement bagged" equation but because of the business acumen one develops(YES!)..I guess Mr. Chabria should learn to look beyond only the monetary ROI factor of doing an MBA and stop preaching generic gyan like "MBAs working in call centres"..showing others the real side of life is an interesting past time but if you can't encourage ppl in these dark times you simply don't have the right to discourage them atleast..does your "happionare" formula prescribe only a "ship be safe in the harbour and don't sail" philosophy?

@caterpilar – BRAVO! well summed up the etire article & commentary