Wanted to check the views and perspectives of the members on the following topic: We see a drastically changing economy where huge salaries and bonuses may be the things of the past. The credit crisis has made education loans tougher to get a…
Wanted to check the views and perspectives of the members on the following topic:
We see a drastically changing economy where huge salaries and bonuses may be the things of the past. The credit crisis has made education loans tougher to get and evenif we get those loans we will probably need matching collaterals or tight repayment conditions. The grants and scholarships may also become a challenging proposition in this bad economy. Considering all these factors demand for costly MBA and higher education should decrease(making it easier to enter good B-schools) and following the demand-supply curve the cost of higher education should also decrease.
At the same time lot of people are loosing jobs and may try to use this time in higher education. In that case we may see higher competetion for getting into a B-school.
Now my queries are as follows:
1. Is it a good idea to enter a B-school in an uncertain time like this?
2. Do we forsee any chance of lower cost of higher education in US or abroad(Europe/Asia)?
3. If the cost remains same does it still make sense to do an MBA?
4. Do you think the competetion will increase or decrease?
5. I have a valid GMAT score(not very good score although). Does it make sense to wait for next year or try this year itself.
I may have missed many other perspectives on this issue. Great people can bring all these points to the table.
Hi Guys,
I'm in a similar position seeking sincere suggestions from you. I'm an IT Analyst, having about 5 yrs in TCS. I have aspiration towards a top B School MBA which I believe will facilitate my growth within or outside TCS. I've been working in the UK since Oct 2004 and interested to persue MBA here in UK - if that's better. Can some one suggest on the options I can think of at this stage..eg, taking an education leave in TCS to persue MBA in India or abroad? If so, 1 yr or 2yrs? Indian MBA or abroad? Resigning the job or taking education leave and join back TCS? Personally, I like working for TCS and can see lot of prospects within TCS in all aspects after a MBA...Can I have ur thoughts plz.
Cheers, JPR
Most of the B-Schools are witnessing rise in number of applications this year in spite of turbulent economic scenario. So from my understanding competition would be even more stiff as companies are not rolling out that many offers as they use to do earlier. I have checked with my friends pursuing MBA from different B-Schools and most of them have told that situation is grim. Another reason for rise in cost of education is dollar appreciation. If we compare it with last year, dollar as compared to rupee has risen by around 25%. Students are now opting for disciplines other than finance for obvious reasons. Economists and experts are still speculating as to how long recession will last. But things never happen as predicted. So this could be good time to do MBA.
JPR,
GBP has taken nose dive so I suppose MBA from UK will not hurt that much!
From my understanding MBA will remain a key parameter for getting into senior management positions. In India if you can crack IIMs or ISB then it is worth doing MBA as you already have 5+ years of experience. There are many good MBA options in UK.
Going for study leave will be a better option and for LWP there might not be any bond. This will keep many options open for you in TCS. You could easily get in BRM, BDM, or some other sales, marketing, or business development manager role.