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

guiding.light

US MBA is more of a relocation decision. If you want to come back to India soon after your graduation even a Harvard MBA would not be able to justify the effort (atleast in the short run). Also except if you want to become an i-banker other job profiles MAY not give you the kind of quick financial gains that you may be looking at. Coming to i-banking, given current job scenario in USA in financial industry, an MBA from only top 5 schools (ranks with finance bias) could give you a reasonably high chance of getting a job. StudyPlaces.com

RuMMager · 02:14 AM

I don't want people in the middle/lower-middle class range to waste their time reading this thread. Guys who have talked here about taking loans or studying abroad are wealthy enough or have accumulated wealth during their job <very few>. They take loans just to streamline their finances. You just can't do an MBA abroad taking a loan. It is so unreal. Guys whoever fall in the mid-class range <most of them will> - make your plans to study in ISB or IIM. ISB is the best alternative to MBA abroad. You will still get your 100K salaries after a 0ne-year MBA. Infact you will get a better curriculum here. The main advantage of studying abroad is the class diversity, networking which are big factors that lay down your future.

Indian universities are more knowledge intensive whereas in US it's all about networking. That surely expands your vision and allows your creative wings to flap. It's way cheaper for US citizens to study in these top tier universities through sports, arts scholarships. And many poor US citizens find their way into these universities. But the basic composition of these US universities will be rich kids whose parents run businesses and donate obscene amounts of money to the universities to get seats for their kids. This includes sons/daughters of Indian bureaucrats, politicians. And average age of students would be around early 30s.

It's a hopeless thing for most Indians to study in US. They have gold mines in their shores itself in the form of indian universities. First do MBA here. get a nice job. you can always do another MBA abroad later when you are financially secure and when you actually have the best viewpoint why you want to do an MBA.

publicity driven Consumerism rules the US economy. That is how Harvard/Wharton/Stanford et al are so well known around the world. That is how they have portfolios bigger than the GDPs of some countries.

I forgot to mention a different category of Indians who plan to study abroad. People with vision. PagalGuy belongs to that category. Or Maybe he is also a rich brat!!! who knows?

P.S. This is for most of the burgeoning 2-3yr work ex youth working in the private sector who plan to do an MBA.

itsrahul

Quote:

Originally Posted by RuMMager

I don't want people in the middle/lower-middle class range to waste their time reading this thread. Guys who have talked here about taking loans or studying abroad are wealthy enough or have accumulated wealth during their job <very few>. They take loans just to streamline their finances. You just can't do an MBA abroad taking a loan. It is so unreal. Guys whoever fall in the mid-class range <most of them will> - make your plans to study in ISB or IIM.

Completely disagree on this. I am one of the Indian middle/lower-middle class guys who is studying abroad with an education loan from India and I did not "amass" wealth during my 4 yrs career with an Indian IT company.
I also know people who are spending even less than I am for their foreign MBA. One of my friends is studying abroad for free....
I agree that this is neither normal, nor easy - there aren't many good schools where you can study with a loan from India but then it's all about matching your aspirations with reality...

RuMMager · 10:54 PM

Quote:

Originally Posted by itsrahul

Completely disagree on this. I am one of the Indian middle/lower-middle class guys who is studying abroad with an education loan from India and I did not "amass" wealth during my 4 yrs career with an Indian IT company.
I also know people who are spending even less than I am for their foreign MBA. One of my friends is studying abroad for free....
I agree that this is neither normal, nor easy - there aren't many good schools where you can study with a loan from India but then it's all about matching your aspirations with reality...

I don't want to disappoint you. With 4yrs experience, you could have secured a 1year PGPX in IIMs or ISB or other top colleges. And my comments were about US top B-schools which cost more than other Bschools. I gleaned that you are studying in HEC paris (which is costing you about $80000). I don't know if you get scholarships there.
I also don't know how your friend is studying for free. But I know there are always exceptions like you and your friend. I was addressing the other 95% aspirants.

Nevertheless it's a fantastic achievement coming from your background. I wish you luck.

Moot is I want to be comfortable while doing an MBA money-wise more than career-wise.

The thread deviates from its intent. I will stop grunting.

majorsatya

hello everybody

myself
DR SATYENDRA

wanna know about courses, admission procedure, schlorship, aide, etc.
im a newborn to this field.
is there any consideration for typing speed also
i have many quaries

m waiting for responses
with regards

DR SATYENDRA

kunal1.joshi1

Quote:

Originally Posted by majorsatya

hello everybody

myself
DR SATYENDRA

wanna know about courses, admission procedure, schlorship, aide, etc.
im a newborn to this field.
is there any consideration for typing speed also
i have many quaries

m waiting for responses
with regards

DR SATYENDRA

Better read the older stuffs first...most of your queries will be resolved thereafter....

nagpalkunal · 06:56 PM

Quote:

Originally Posted by RuMMager

I don't want people in the middle/lower-middle class range to waste their time reading this thread.
.........

P.S. This is for most of the burgeoning 2-3yr work ex youth working in the private sector who plan to do an MBA.

You better be somebody real smart cause otherwise everything that you wrote looks like crap from a disgruntled soul.

And did you notice, you did not substantiate any of your "words of wisdom"

If you don't want to reach up, so be it. Don't write your prejudiced opinion for people who have just started and could very well end up doing themselves much good with an MBA from abroad, but for your note here.

smartkid

Quote:

Originally Posted by RuMMager

Moot is I want to be comfortable while doing an MBA money-wise more than career-wise.

The thread deviates from its intent. I will stop grunting.

you are talking perfect sense my frnd. MBA "degree" should be considered money wise..cause career is one thing that you build, mainly on your performance & shrewdness. its simple and straight forward. If you a good at it, degrees at just for namesake.
I have been in US for more than a yr now and trust me, its not just MBA experience that one should consider. what about a bigger experience called life ? when you are a student. every dollar counts and if its a cold place, life sucks. The time one spends as student should be enjoyable and memorable...no one would like to be lonely in a cold place, coming home to cook or wash or take care of such chores. Being in India, you can lessen these burdens to a large extent and concentrate on building you dreams,or atleast getting good grades in MBA. i keep saying this to my frnds, earn in dollars but spend in rupees ( utleast till Rupee < $

)
Im not a pessimist, but im being practical. Ppl occasionally talk about recession in US..did you do your research before thinking of MBA abroad ?
afterall, management has something to do with finances

LOL

mohit@bits

hi
how much approx does it take to do a mba from top 15 us b school ? including living expsenes?
and what the exp at NUS singapore?

ponram · 05:55 PM

Quote:

Originally Posted by RuMMager

I don't want people in the middle/lower-middle class range to waste their time reading this thread.

P.S. This is for most of the burgeoning 2-3yr work ex youth working in the private sector who plan to do an MBA.

I just gave my GMAT a few days back and scored 670. While preparing,i never bothered to think abt financing,placements etc. Now I am unable to concentrate on Essays after reading this post. I should have continued my prev trend of not reading such stuff till my application atleast.
Guys, If you are posting such 'Doomsday' stuff be sure to provide solid evidence. We Indians sure do a lot of gossip.