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IS DOING MBA FROM US WORTH IT ??... plzz help very confused

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IS DOING MBA FROM US WORTH IT ??... plzz help very confused [#permalink] New post 11 Jan 2013, 01:04
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Hi I am an Indian thinking about doing MBA in US . I have a few questions which are making me kind of tense . Can you please help me answer them .

What is the current scene for Indian Students studying in (M7 +Next 8) Business Schools in US?Are they able to get good jobs after MBA ?How much role does Visa sponsoring play in final FT Recruiting for Indians there who doesn't have work permit/green card ?Is the competition tough for foreign graduates (~around 40% of the class I guess ) as the firms may have limited quota for foreign students.
How are the job prospects for MBA graduates in the current market ?(for foriegn students especially )

I am planning on my MBA and I was shortlisting schools .I would like to know your honest opinion on this.Is it worth taking 100k + loan and apply to US MBA schools.I don't have that kind of money but I am willing to take risk if it really worth?
and approximately in How much time an average MBA graduate is able to repay that loan .
THANKS for your help answers in advance :)
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Re: IS DOING MBA FROM US WORTH IT ??... plzz help very confused [#permalink] New post 29 Jan 2013, 11:53
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Disclaimer: I'm a US citizen. :)

Yes, it is worth it.

Specifically, an MBA is totally worth it in terms of the opportunity cost of two years of your life, opening up the American market (basically giving you two years to job search in the US), and the life-long professional benefits. Now, taking $100k (in tuition) + $40-$100k (in living expenses) to pay for it --- that is harder to say it is worth it. I could build a model determining earning power over your lifetime that would probably still come out ahead if you had even with $200k of debt at the end, but I think also over-leveraging yourself to that degree even for an MBA is just stupid. Scholarship can and should be a large factor. Money and location matter because even if you have a significant scholarship, the cost of living can drive up your debt, but you also don't want to be living in podunk-USA without any local opportunities.

My rule of thumb is to keep debt below one year's salary. After you apply and receive offers, compare the total debt you'd take on (tuition+living expenses) to your likely first year salary, say it's $90k-$100, and evaluate if it's "worth it" from that. Even at the absolute top schools, partial scholarships are given, but in all honestly, I've seen that only with very unique international applicants, and unfortunately Indian/male is not unique.

In terms of opportunity - I can only speak anecdotally --- It seems that international candidates definitely took a hit 2008/2009. Judging by my alums, some had to go back to their home countries (albeit they still good jobs). However I knew at least one 09 alum that got sponsored here by tapping into a personal contact.

In recent years, things seem much less dark for US or international candidates. In my small class of 120, we've had one Indian/male secure an internship in investment banking (had two offers at BB), and another is in the final round of interviews at two consulting firms. Other Indian/Chinese/male/female that I know are interviewing for corporate finance positions at Fortune 500 companies. I can think of several 2nd year international students that have secured their FT offers (another IB BB), and I'm sure many more have secured offers I'm not aware of. There are still a lot of firms that do not sponsor, so in some ways it's still an up-hill battle, but chances are if you were able to make it here from India (which I believe is even more competitive for admissions, than what most of US citizens face), you are already an exceptional candidate. Some firm somewhere will hire/sponsor you. It may not be your ideal job starting right out of school. But getting the sponsorship and your feet on the ground so you can network, make connections, and move on to something better after a few years is still very valuable and "worth it". You'll still have amazing career opportunities open up over the long run. FYI - interpersonal skills will still play a large role so having experience adapting/working with different cultures is important.

For example, in the Rice 2012 class , the international job placement is at about 92% and I think all in the US. http://business.rice.edu/uploadedFiles/ ... istics.pdf

Good luck.
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Re: IS DOING MBA FROM US WORTH IT ??... plzz help very confused [#permalink] New post 05 Feb 2013, 22:00
Hey thnx a lot for your reply and motivation .:)
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Re: IS DOING MBA FROM US WORTH IT ??... plzz help very confused [#permalink] New post 18 Feb 2013, 23:42
Hi histgirl

Thanks for detailed reply. I was searching similar posts as i was getting cold feet about MBA (financing my education and Opportunity Cost).

I don't want to hijack this post and don't want to post another post similar to this... so here am continuing here


I want to know, How to finance your education, there are Indian banks who provide education loans, however they ask for collateral. As loan amount goes up to 40 lakh. How to get that loan, I don't have any property and neither do my parents.

I am married male (no kids so far) with 8 years of total IT industry work experience, now if I go for MBA it will be big debt on me (to repay loan), That risk I am ready to take.

I am getting cold feet because right now I don't see a big growth in my career, i see a stagnant growth. I want to grow in life and I believe to achieve higher goals one need higher education. So I thought for an MBA as I am thinking about this from last so many years.

Now I want to do it, but I saw costing and it is way too much. How to pay that and If I don't do MBA from any one of the top10 colleges then I believe it will again be a risk, because brand name is what sticks around.

I am totally baffled and confused, scared you can say about my career. Could you please help me out here.
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Re: IS DOING MBA FROM US WORTH IT ??... plzz help very confused [#permalink] New post 14 Jan 2014, 10:17
Thanks histgirl for such an excellent and complete reply...
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Re: IS DOING MBA FROM US WORTH IT ??... plzz help very confused   [#permalink] 14 Jan 2014, 10:17
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