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US MBA Loan and Re-Payment->Worth It? A Discussion

> From what i know after speaking to alums from almost all top-15 schools, repaying the loan is a darn big thing and it takes a pretty long time. People come from India (who have never been to US) thinking about greener pastures and then realit...
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Relax, you're seeing a range of salaries, and the # of people gaining the lowest & highest salaries within the range are very few. For a conventional post MBA (Consulting, Banking, Corporate General Management etc.) you're likely to stay within +/- 10 to 15% of the class median / average.

All the best
Baccardisprite


thanks mate.. helpful post.. owe you a Bacardi
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Guys, apologies if this has already been asked.. started reading thru but 41 pages was a bit too much..

the question - I have been reading a bit about Sloan and looks like their lower end salaries are pretty scary .. http://mitsloan.mit.edu/pdf/fullreport10_11.pdf

what do you think, are these 'anomalies' or a considerable chunk do get salaries in the lower end.. thts gonna be a major problem if you get a 60K salary and end up with a 120K debt...


Not anomalies, they're easily explainable. The lower end of the salary ranges would be one or a combination of of the the below:

- Lower pre-MBA experience (
- The graduate would've joined a local / state-specific / regional consulting company with limited reach (this is mostly by choice). It's not uncommon for an MBA graduate to join his / her spouse's location and find a job suitable / available at that location.

- The graduate joined a consulting firm specializing in the public sector (except Booz, which has a large Gov practice in the US), not-for-profit / NGO related professional skill areas. The US Peace Corp sees a few MBAs join them year on year. A committed few do happen to choose this path.

- They moved outside the US to emerging markets, again this is unlikely to be the majority in a class that seeks jobs predominantly in the US. But someone joining a company in Indonesia at the age of 28-30 is unlikely to be pulling in $100K+. A few numbers for the UK might appear low due the has taken a beating against other OECD (the so-called 1st world) currencies in the 2009-2010...

Relax, you're seeing a range of salaries, and the # of people gaining the lowest & highest salaries within the range are very few. For a conventional post MBA (Consulting, Banking, Corporate General Management etc.) you're likely to stay within +/- 10 to 15% of the class median / average.

All the best
Baccardisprite
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Guys, apologies if this has already been asked.. started reading thru but 41 pages was a bit too much..

the question - I have been reading a bit about Sloan and looks like their lower end salaries are pretty scary .. http://mitsloan.mit.edu/pdf/fullreport10_11.pdf

what do you think, are these 'anomalies' or a considerable chunk do get salaries in the lower end.. thts gonna be a major problem if you get a 60K salary and end up with a 120K debt...

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pdocmba : Does thy have a proper MBA or PGDM is equivalent.Actually I have 2 years full time PGDM.. Does it gives me an benefit

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then list of banned members shall either be made public or mailed to us.
n when u r so gud at deleting these posts thn why spare the professionals.


LOL! Why should it be mailed or made public?? We have rules in place, when rules are broken, people are banned. There has NEVER been a case of arbitrary banning. Even so, updated as required: http://www.pagalguy.com/discussions/banned-on-pg-why-25014330

I have been modding for a while and so over the years i have certain criteria for deleting posts-- multiple posting, irrelevancy, soliciting any of business,copyright material, contact info are a strict No-No.

pdocmba has the option of mailing their contact info to PG if they want to continue posting on the forum. They choose not to. The consultants who are posting have mailed that info. If you had read the first post of the "Ask a Consultant" thread you would have known that.

The setup that you are enjoying right now has been painstakingly built over the years. This section is free of fraudulent consultants, coaching centers and people because they have been weeded out.

Feel free to PM me your concerns. This thread is for a completely different discussion.
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Neo2000 Says
pdocmba has been banned from the forum. They were a consulting group who joined to promote their business.


then list of banned members shall either be made public or mailed to us.
n when u r so gud at deleting these posts thn why spare the professionals.
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Hi Bhavya,

Please refer to the discussion pasted below (discussed at some other threads) regarding placements. Since you are a current student there your insight on the matter is welcome.
....


pdocmba has been banned from the forum. They were a consulting group who joined to promote their business.
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My 2 cents:

Focus on your GMAT now and get a 700+ score. After that work hard on your applications.

If you can make it to top 20 US business schools, you should not worry about the financial burden.

-Bhavya (MBA '09 Chicago Booth)


Hi Bhavya,

Please refer to the discussion pasted below (discussed at some other threads) regarding placements. Since you are a current student there your insight on the matter is welcome.

""It is safe to assume that most of the students who were not able to get jobs in USA were Indians. The Chinese MBA students prefer to return to China even if they get job offers in USA. If you go through my previous posts, you will find the detailed link to MBA salaries in India, China, USA, and Europe. China, USA, Europe MBA salaries are equal. In India it is about 40% of USA salaries. That is why the Indian MBA students prefer to try and get a job in USA instead of returning home with a huge $180 K loan and an Indian salary of Rs. 20 lakhs.

Well, in the recession period 2008-2010, even the top 5 Business schools were reporting that between 15% - 20% of the MBA students were not able to get jobs. Now it is down to about 13% rate of MBA students without jobs.
Now the Chinese MBA students in the top schools are all turning down the job offers from USA companies and returning to a booming Chinese economy with the same pay as what the USA companies were offering.
So who is unemployed. Is it the American MBA student who did his Bachelor degree in USA, then got 5 years work experience in USA before doing MBA and does not require any H1-B sponsorship for the Work Permit.
Or could the unemployed person be the Indian MBA student who did his Bachelors degree in India, got work experience in India which the USA employer cannot verify, and needs the company to sponsor the H1-B work permit which is very uncertain. Based on pure logic, if you were the American employer company would you hire the American MBA student who does not require H1-B sponsorship or would you hire the Indian MBA student who needs H1-B visa sponsorship. You can take an educated guess who those 13% unemployed MBA students are. The reason they cannot return home is that they cannot pay back the $180 K MBA loan with the Rs. 20 lakh salary which they will get in India and forever have the IIM boss. ""
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Dude, no point going the US schools that you listed above. Great Lakes, TAPMI, etc will be much much better for you, especially since you plan to work in India. Do not go to any US school which lies outside the top 10 (or 15). Its simply not worth the risk.

best of luck!

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Hi Puys,

I have 3 yrs of Work experience in India,I am basically a Mech Engineer and have got into the following B schools in the US:
1.University of Houston-clearlake
2.Oklahoma city university(Not Oklahoma State University)

I prefer University of houston clearlake,but is it worth doing an MBA from there?Or is it better doing my MBA from Great Lakes Chennai,or Manipal coz I wud really like to come back to India after my studies.

Pl. advise.

Thanks

Vikram

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