US Economy slowing down

[jaiBoloh]

Digressing a lil from the intense discussion of what kinds of jobs right after graduation, let me take a different perspective of getting an MBA from ANY (anywhere in the world) top tier-I school.

Let us forget the job scenario just after graduation, but think about your life ten years after graduating - if you take an MBA from tier-I school, then your life is different bcoz

1) The first advantage you would have is the wide network - even after ten years you could call up your dude who graduated with you (who cud then be a Director, or a VP, or a policy maker, or a consultant) to help you fund a project, offer knowledge, or offer human resources. I do not say that such a thing does not happen with guys graduating from tier-II schools, but the probability is high when you graduate from tier-I school.

2) The second is the brand-name of the b-school. In this global economy you have every option to work in Tanzania, Russia, HK, or Maldives, but anywhere you go you take your b-school brand. Almost any literate can recognise Harvard, Standford, or Oxford. On the contrary, how many businesses in the world do you reckon know tier-II/III schools - not as many. Thus, your chance of succeeding is less when you graduate from tier-II/III schools - if you want to brag about your b-school exp, better get a degree from renowned school.

Let us think of our life not only as the late 20's and early 30's but also late 50's and early 60's. I am sure I will see many of you in the most influential postions (VP's, CEOs, MPs) in India, US, or Europe, or China when you grow up into your 40's, 50's, and 60's. For that matter, Mr. Manmohan Singh graduated from Oxford, Rahul Gandhi (supposedly) from Harvard, Harsha Bhogle from IIMA, and many other examples.

Thus, I think its not the IB or consulting or entrepreneurship that matters, but the school that you graduated from matters most, atleast in the long-run (I mean 5, 10 years after graduating).

[pagalguy]

Don't assume I'm recruiting

Originally Posted by kgkid

btw congrats and when you go to these firms please PGites ke baare mei thodha sochke..thodha madad shadad kar dena.

Thus, I think its not the IB or consulting or entrepreneurship that matters, but the school that you graduated from matters most, atleast in the long-run (I mean 5, 10 years after graduating).

I don't agree. The school doesn't do magic. It just opens up a couple of doors and then its upto you to perform and make the best of it. If you don't perform well even while @ school, no buddy of yours will even recommend you even if you catch up 10 years down the line. The junta which goes to the top school also slogs like crazy and probably has slogged like that for a large part of their life. I still see people here putting insane amounts of efforts into preparing for their interviews .. its tough and competitive and most of the people have been through something like that throughout their lives.

So I'd say hard work matters and if you don't prove yourself even after you are at a Tier 1 school, you could easily be forgotten by your class mates. But then if you did goto a Tier 1 school - the chances are you've slogged a lot in your life. So both tie into each other and that is one of the reasons why you see the grads from the top schools excel. Its not just because they had a chance to attend the school.

[purple yogi]

Originally Posted by pagalguy

Don't assume I'm recruiting


I don't agree. The school doesn't do magic. It just opens up a couple of doors and then its upto you to perform and make the best of it. If you don't perform well even while @ school, no buddy of yours will even recommend you even if you catch up 10 years down the line. The junta which goes to the top school also slogs like crazy and probably has slogged like that for a large part of their life. I still see people here putting insane amounts of efforts into preparing for their interviews .. its tough and competitive and most of the people have been through something like that throughout their lives.

So I'd say hard work matters and if you don't prove yourself even after you are at a Tier 1 school, you could easily be forgotten by your class mates. But then if you did goto a Tier 1 school - the chances are you've slogged a lot in your life. So both tie into each other and that is one of the reasons why you see the grads from the top schools excel. Its not just because they had a chance to attend the school.

agree to that. What a good school does is open the doors then you are on you own. Nobody cares a damn if you are from which school if you dont perform. The thing is that hard work to get into schools and then hard work at schools helps the people in a long way who do it. I believe most of the people passing out from these schools are used to excel and accustommed to hard work, part of the reason they are there. And, most likely they will continue to do that in their respective choices.

[purple yogi]

Originally Posted by jaiBoloh

Digressing a lil from the intense discussion of what kinds of jobs right after graduation, let me take a different perspective of getting an MBA from ANY (anywhere in the world) top tier-I school.

Let us forget the job scenario just after graduation, but think about your life ten years after graduating - if you take an MBA from tier-I school, then your life is different bcoz

1) The first advantage you would have is the wide network - even after ten years you could call up your dude who graduated with you (who cud then be a Director, or a VP, or a policy maker, or a consultant) to help you fund a project, offer knowledge, or offer human resources. I do not say that such a thing does not happen with guys graduating from tier-II schools, but the probability is high when you graduate from tier-I school.

2) The second is the brand-name of the b-school. In this global economy you have every option to work in Tanzania, Russia, HK, or Maldives, but anywhere you go you take your b-school brand. Almost any literate can recognise Harvard, Standford, or Oxford. On the contrary, how many businesses in the world do you reckon know tier-II/III schools - not as many. Thus, your chance of succeeding is less when you graduate from tier-II/III schools - if you want to brag about your b-school exp, better get a degree from renowned school.

i dont agree to that completely. Buddy a combination of hard work, smart moves, luck and will to do it helps the most. A school will give the additional push. A lot of people who have made their mark did not go to any schools -- dhirubhai ambani, bill gates and many more.

Let us think of our life not only as the late 20's and early 30's but also late 50's and early 60's. I am sure I will see many of you in the most influential postions (VP's, CEOs, MPs) in India, US, or Europe, or China when you grow up into your 40's, 50's, and 60's. For that matter, Mr. Manmohan Singh graduated from Oxford, Rahul Gandhi (supposedly) from Harvard, Harsha Bhogle from IIMA, and many other examples.

Thus, I think its not the IB or consulting or entrepreneurship that matters, but the school that you graduated from matters most, atleast in the long-run (I mean 5, 10 years after graduating).

rahul gandhi did economics from harvard university...

[purple yogi]

i am taking a different twist to the discussion if i may, Allwin i want your opinions on this.

Does a great business school affect your creativitiy or reduces your risk taking ability. We all know the kind of jobs a business school gives, an entrepreneur thinks about working in the best places and taking it easy . Starting on your own is fun but far more tougher than joining a blue chip firm that pays you like crazy. Allwin what is your take on this? I know wharton is surely adding value but like you said you have offers from some killer places.

My example-- got in oxford, want to do social entrepreneurship but when i hear the money bankers get i think can i make some money first and invest in my social venture later. Then i think now is the time to make change in the lives and now is the time to dot it. the thought comes to my mind and i beleive reduces the risk taking abilities. But i forget that i already chucked my job at an investment bank and worked for a very small non-profit in Mumbai, where did i gather my guts from.

[inblue]

Originally Posted by kgkid

You need to find out more about that bolded statement. You cannot get a brand management job even though they sponsor visa. You simply dont have the language/ accent that an american has. If you think getting into a BB IB firm or top consulting firm is really a function of what YOU are then think again.
Do one thing, reach out to current students and see where the indian students end up going. People in finance typically end up going to Merill Lynch and people in consulting typically go to Deloitte and Diamond Cluster. Those who dont get into either of these end up in Dell. You would see a very natural trend.

Yes, I met an indian guy who got into Bank of America Securities but he had an MBA from JBIMS in India and was working with Citibank Global Services in finance at Calcutta.

That is why i now wonder why people tell me that whichever top school you do an MBA, you would get the same companies recruiting and the same opportunities.

I think Iday answered most of what I would have said. I spoke to 2 students and 2 alumni ( both who have returned to idea and payed off their loans ) while i was applying to Chi.


On another note, what Allwin says sums it up all. . Cant agree with you more !

A very close frined of mine graduated from NM and does better than IIM A grads of his batch in the same firm ( risk managment consulting for a big shot bank ).

If you dont work hard the school can't do magic for you ! If you really have an idea and the ability to transform that successfully into a venture and run it, the school you went to doesn't matter.

[inblue]

Originally Posted by purple yogi

Does a great business school affect your creativitiy or reduces your risk taking ability. We all know the kind of jobs a business school gives, an entrepreneur thinks about working in the best places and taking it easy . Starting on your own is fun but far more tougher than joining a blue chip firm that pays you like crazy. Allwin what is your take on this? I know wharton is surely adding value but like you said you have offers from some killer places.

My example-- got in oxford, want to do social entrepreneurship but when i hear the money bankers get i think can i make some money first and invest in my social venture later. Then i think now is the time to make change in the lives and now is the time to dot it. the thought comes to my mind and i beleive reduces the risk taking abilities. But i forget that i already chucked my job at an investment bank and worked for a very small non-profit in Mumbai, where did i gather my guts from.

PY my 2 cents on it :

B-school might increase your creativity but then what it does not do is 'ALTER YOU'. I mean - the way you feel about the world. This my personal opinion. B-school is not the end. Its a means to the end so if in the end you are an inate risk taker ( as you already are - leaving a ibank for a non-profit ) then I dont really think B-School might change that.

Now, what might happen is that you come across an interesting set of people, get real differnet opinions , ideas and perspectives. Ultimately enlarge your horizon - and then its up to you to carve your paths.

Working after B school at some big place will just be an extension of these ideas and money ofcourse. Its entirely a matter of personal choice to do this or not. Even if you choose to work at an Ibank what you're doing is cheweing your thoughts well, ruminating over them and fattening your bank balance. As long as you're not taking your eyes of your venture, you're always making your venture better ! (That's the way I look at it )

But if you're really clear and passionate on the social aims and as you say now is the time, then this is best ! I mean it seriously !

[jaiBoloh]

I cannot disagree with you. I kinda assumed that hardwork and great-school go hand-in-hand. In other words, when you join a good school you HAVE to work, slog, and skip your lunches... However, as you say, one should be diligent and extremely hardworking no matter which school one attends...

Originally Posted by pagalguy

The school doesn't do magic. It just opens up a couple of doors and then its upto you to perform and make the best of it. If you don't perform well even while @ school, no buddy of yours will even recommend you even if you catch up 10 years down the line.

[purple yogi]

Originally Posted by inblue

PY my 2 cents on it :

B-school might increase your creativity but then what it does not do is 'ALTER YOU'. I mean - the way you feel about the world. This my personal opinion. B-school is not the end. Its a means to the end so if in the end you are an inate risk taker ( as you already are - leaving a ibank for a non-profit ) then I dont really think B-School might change that.

Now, what might happen is that you come across an interesting set of people, get real differnet opinions , ideas and perspectives. Ultimately enlarge your horizon - and then its up to you to carve your paths.

Working after B school at some big place will just be an extension of these ideas and money ofcourse. Its entirely a matter of personal choice to do this or not. Even if you choose to work at an Ibank what you're doing is cheweing your thoughts well, ruminating over them and fattening your bank balance. As long as you're not taking your eyes of your venture, you're always making your venture better ! (That's the way I look at it )

But if you're really clear and passionate on the social aims and as you say now is the time, then this is best ! I mean it seriously !

inblue - good post,

i agree b school is not the end. What i am saying that somehow one may think to do their own thing later after maiking some money may happen may not happen. I feel if one gets used the lifestyle and then starting on your own may be difficult. happens to a lot of people...

I guess it depends on people what they want .... to each its own .....

Rock on .....

PY

[jaiBoloh]

I would have couple of directions/approaches for you on this (as I have beaten the same path in my life once
1) Funding for your company/entrepreneurship: If you want to succeed in your venture you will need money. For even a small scale firm, you will need few 100k of dollars (200K or 300K or more). You cannot go very far with couple of 10K dollars. You can get this money one or two ways - savings from your family income (think how many years you have work and save if you want 100K savings) or loan/investment from outside (banks, VCs or Angel capatilists). I have tried talking to investors to fund into one of my projects, but then they would want to see my resume (and it does not have any business skills..I mean no MBA..Haha). I approached banks, but they wud want a big collaleteral. I searched my pockets (and even my friends' pockets), and found only few 10K. As I said, 10K wud not do much to re-fill your pocket, except that your interest and money start waning gradually..

Oxford is that brand that can easily get you money from investors. Propose your ideas to them, and get them interested. There are gaBillions of people who have gaZillions of dollars and do not know how to invest them. Make your ideas sell and get money for your project. Its not all that easy, but the easiest of all 3 choices that I talked. I am telling you, school is the best place for this. Investors know that students like you can take risks and have all the time in world to put at work.. so I wud say, you have the best opportunity in life.. take it,..

2) Time: As you go further in life you will loose your extra time to family and friends. Its quite natural (and in fact needed) that you allocate time for family matters and can only spend 40% 0r 50% of a day for your company-related activities. So, time for making a decide what your life wud be after marriage and what kind a spouse u wud want (I mean working at a comp, working for your comp, homemaker, etc).

You are still young and energetic, so take that risk. You may feed at the expense of your spose, but hey... you can be a new youTube, or google, or reliance or at least a millionaire.. I am only trying to encourage you, as I clearly understand what I could have done few years ago when I was in the same situation...

Originally Posted by purple yogi

i am taking a different twist to the discussion if i may, Allwin i want your opinions on this.

Does a great business school affect your creativitiy or reduces your risk taking ability. We all know the kind of jobs a business school gives, an entrepreneur thinks about working in the best places and taking it easy . Starting on your own is fun but far more tougher than joining a blue chip firm that pays you like crazy. Allwin what is your take on this? I know wharton is surely adding value but like you said you have offers from some killer places.

My example-- got in oxford, want to do social entrepreneurship but when i hear the money bankers get i think can i make some money first and invest in my social venture later. Then i think now is the time to make change in the lives and now is the time to dot it. the thought comes to my mind and i beleive reduces the risk taking abilities. But i forget that i already chucked my job at an investment bank and worked for a very small non-profit in Mumbai, where did i gather my guts from.