Hello Folks !! I am currently in US and plan to do my MBA after a couple of years. I will be in States for the next few years. I am a bit confused abt which option should I opt for a) Give my GMAT while I am in US and apply to the…
Hello Folks !!
I am currently in US and plan to do my MBA after a couple of years. I will be in States for the next few years.
I am a bit confused abt which option should I opt for
a) Give my GMAT while I am in US and apply to the US B-schools and the few in India which accept GMAT scores.
or
b) Go back to India after a couple of years and give my CAT and all the other entrance exams for the top B-schools in India.
I am ;
Mechanical Engineer from Pune Univ
Work for a MNC in the Mechanical Industry
Work Ex of 1.5 yrs , 1 yr in India and 0.5 in US (by the time I plan to get enrolled for my MBA i should have around 4 yrs of work ex; 3 in US and 1 in India)
Acads are good enough; not too good, neither too bad. Extra-curricular stuff is pretty diverse and decent enough. Still have to take my GMAT, havent taken the CAT before. Had taken the GRE in the past Q: 800 V: 620 A: 720 (old format). Any idea on how similar is GMAT as compared to the GRE ?
The concerns i have are,
If I do my MBA from US, the payback period is fairly long, the finances involved are pretty steep and I might have to continue working in US.
If I want a good job in India, based on the current trend the only way you can do that is by getting an MBA from one of the top institutes. The issue with this is that you have just one premier institute in India viz ISB which accepts GMAT scores
What I would also like to know is:
Do the big US B-schools offer scholarships or any sort of funding ?
What are the job prospects if you dont make it into the top 15 US B-schools and how long is the payback period then ?
Does a US MBA sell in India ? I think it should but does anyone know of any such instances ?
Which reputed Indian institutes apart from ISB accept GMAT scores?
The majority of recruiters and students at ISB are from IT, what are the prospects for souls from non IT industries ??
I know the contents of this mail look pretty dis-oriented and I hope it makes sense to you guys. If it does please let me know your take on it.
Schivam
Hello Folks !!
Based on my previous query, I would also like to know is their any substantial difference in the course content and the nature of the MBA program based on whether it is done from US or India.
Personally I feel there is a difference based on the diversity in the class. The US B-schools have students from very diverse backgrounds and this would reflect on the course and program content and would give it a truelly global outlook, while the Indian B-schools have a very typical student profile, where most of the students have either an IT or a finance background.
I believe their would be other differentiation parameters bet'n these institutes like mandatory years of work ex and pre-MBA job profiles etc.
Does this make US institutes more appealing than the Indian institutes or vice-versa ?
Schivam
Whether you wanna pursue MBA abroad or within depends on how you want to shape ur career na dnobody but you can decide that.
As for the long payback it is an option and not a necessity. People take loans from banks outside India because they offer lengthy repayment period i.e. upto 20 years compared to Indian banks allowing just 7-8 years. Moreover the lower interest rates abroad alongwith the 20 year duration ease the repayment schedules significantly.
US B-schools do offer limited scholarships but please do not take any decisions depending upon these as they are rare. Moreover in case U are pretty sure about studying in a top-10 B-school like Harvard, Wharton, Chicago, etc. please note that the schols are absolutely hard to get.
Other funding channel is thru loans which US banks give out at about 5-6% interest for 20 years. This option is the most commonly used for pursuing MBA in US. Even American citizens prefer compelting MBA thru such loans.
Job prospects depend upon the industry targeted and your personal network apart from school brand. Ofcourse it is easier to secure employment at Top schools. Payback perios depends upon the bank you have borrowed dough from and not the school.
US MBAs are recognized in India but only those from top schools.
I have heard that even IIMs accept GMAT score for some courses but have not done any research on IIMs myself so pelase check this with someone else.
Prospects for non-IT people are as good as techies if they're not to keen on joining the management cadre in IT organizations, where obviously owing to prior experience techies will be preferred. For eg. Pepsico, GS, UBS might not differentiate techies from non techies too much at during recruitment.
Hope this was helpful.
Hello Folks !!
I am currently in US and plan to do my MBA after a couple of years. I will be in States for the next few years.
I am a bit confused abt which option should I opt for
a) Give my GMAT while I am in US and apply to the US B-schools and the few in India which accept GMAT scores.
or
b) Go back to India after a couple of years and give my CAT and all the other entrance exams for the top B-schools in India.
I am ;
Mechanical Engineer from Pune Univ
Work for a MNC in the Mechanical Industry
Work Ex of 1.5 yrs , 1 yr in India and 0.5 in US (by the time I plan to get enrolled for my MBA i should have around 4 yrs of work ex; 3 in US and 1 in India)
Acads are good enough; not too good, neither too bad. Extra-curricular stuff is pretty diverse and decent enough. Still have to take my GMAT, havent taken the CAT before. Had taken the GRE in the past Q: 800 V: 620 A: 720 (old format). Any idea on how similar is GMAT as compared to the GRE ?
The concerns i have are,
If I do my MBA from US, the payback period is fairly long, the finances involved are pretty steep and I might have to continue working in US.
If I want a good job in India, based on the current trend the only way you can do that is by getting an MBA from one of the top institutes. The issue with this is that you have just one premier institute in India viz ISB which accepts GMAT scores
What I would also like to know is:
Do the big US B-schools offer scholarships or any sort of funding ?
What are the job prospects if you dont make it into the top 15 US B-schools and how long is the payback period then ?
Does a US MBA sell in India ? I think it should but does anyone know of any such instances ?
Which reputed Indian institutes apart from ISB accept GMAT scores?
The majority of recruiters and students at ISB are from IT, what are the prospects for souls from non IT industries ??
I know the contents of this mail look pretty dis-oriented and I hope it makes sense to you guys. If it does please let me know your take on it.
Schivam
Hey GSB,
Thanks for the info dude ! I know the payback period is not the single most important factor in deciding a B-school. Based on the business week and US news rankings, the payback for the top B-schools is just below 3 yrs, but as we all know they are a tough nut to crack.
As far as the tier-2 schools are concerned, their tution fees is not very different from the top few so the investment pretty much stays the same, but the placements arnt half as impressive. It makes more sense to do a part-time MBA from the tier 2 schools so that you can earn while you learn.
I know the decision of where to study lies with me, but it doesnt hurt to do yr homework before you finally make the plunge 😃
Which institutes are you applying to ??
Schivam
Hi Schivam,
If you are a career switcher, FT is preferable over PT. PT from Tier 2 school comes handy when the immediate post-MBA is career progression within the present organization. Though even PTers manage to switch industries and functions, its a bit hard than doing so thru FT.
Moreover, if u plan on PT research the internship opportunities.
Ofcourse doing your homework before taking the plunge is useful but all what I was implying that ulitmately only your professional aspirations can decide whether MBA abroad is better than one back home or not.It depends what suits your needs.
I am not applying anywhere since I went thru the process last year and am all set to join Chicago GSB this fall.
Hey GSB,
Thanks for the info dude ! I know the payback period is not the single most important factor in deciding a B-school. Based on the business week and US news rankings, the payback for the top B-schools is just below 3 yrs, but as we all know they are a tough nut to crack.
As far as the tier-2 schools are concerned, their tution fees is not very different from the top few so the investment pretty much stays the same, but the placements arnt half as impressive. It makes more sense to do a part-time MBA from the tier 2 schools so that you can earn while you learn.
I know the decision of where to study lies with me, but it doesnt hurt to do yr homework before you finally make the plunge 😃
Which institutes are you applying to ??
Schivam
Hi GSB,
Congrats on making it into GSB. If I am not prying, but do you mind telling us what does it take to make it into GSB or any other institute of that cadre.
Which other institutes did you apply in yr application process ??
Schivam
As I found out B-school admissions are more about best-fit. If you suit the education style at a school, are capable of capitalizing on what it offers, and are academically sound, the probability for getting accepted is high.
Eg. if someone has a demonstrated history of leadership and risk taking, and is keen on a similar role in the long run, an entrepreneurial B-school is the best-fit.
Ofcourse good GMAT helps because even during placements, some companies especially those in the financial sector consider GMAT scores while judging candidates.
As the cliche goes there is no sureshot formula for breaking in a good B-school. Its more like a jigsaw with experience, scores, grades, essays forming various parts.
I succeeded at a Canadian school apart from GSB.
Hi GSB,
Congrats on making it into GSB. If I am not prying, but do you mind telling us what does it take to make it into GSB or any other institute of that cadre.
Which other institutes did you apply in yr application process ??
Schivam
So schivam ! it has been 7 years, what you did by then, did you do mba from india or usa ? and how did it turned out plz let us know ! thanks
as you know there are so many in dilemma about us or india
I graduated from Wharton this year and I'm the co-founder of www.getyourmba.in, where you can get your business school application, essays and resume reviewed by someone with a proven record of success. Our students have been admitted to Wharton, HBS, Darden, ISB, IIMs, amongst others. To find out more, email us at [email protected] or visit us at www.getyourmba.in. Special offer available till July 31st.