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MBA??

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Joined: 15 Jun 2013
Posts: 5
Location: United States
Concentration: Finance, International Business
GMAT 1: 720 Q51 V35
GPA: 3.1
WE: Information Technology (Computer Software)
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MBA?? [#permalink] New post 24 Aug 2013, 16:42
Hi -

I gave my GMAT in June and got a 720. Now when applying for the B-schools I am a little confused. I had some colleges in mind primary of which was ISB(Indian School of Business). I have started writing the application essays and hope to apply in September to ISB.

Other colleges i wanted to give a try are INSEAD, LBS, Rotman, Richard Ivey, Oxford(Said) and a couple more.

I did my graduation from Computer Science and Engineering and have been working with TCS since 2010( a total work experience of 38 months as of today). I have been working in Canada for last 17 months now.

The thing is MBA was something i really wanted to do for some years, i gave CAT a couple of times and even broke the 99 percentile mark one time but didn't get into any college. But, now i am kind of confused. It is pretty obvious how expensive the global MBAs are and with the rupee free falling it has become more expensive for Indian students.

I am sure that i don't want to work in IT, i just don't feel like giving it my 100% for some reason. Based on what i have heard, i was wondering will it be possible to change my job stream after the MBA or i will end up working in IT with just a different role than i was doing pre MBA.

Is it worth the gamble to take a big loan and risk not getting the return on investment for reasons like recession etc. I mean if I end up say as a project manager in some company after my MBA with a big debt to pay....won't it be better that i spend another 2-3 years in my current job, may be do an Executive MBA and become a project manager.....this will save me from that big debt part ....

I am just not sure on how to approach this thing right now .......are there other options?? I know whether you are sure about the MBA is the first question that the colleges ask but even if the answer is yes ...the big question is Is it right for me??

I have had my discussions with colleagues, peers and the funny thing is people who have not done their MBA and have 3-4 years more experience than me say, "You should do an MBA, it is the right age to do it" whereas some of the MBA graduates i talk to say, "You will learn a lot definitely but I don't think it is worth it because you will end up working on a similar job stream with just a little higher pay and debt". There are only few exceptions to this.

I really need some help on what can be my options and how to weigh them....Any help will be highly appreciated.

Thanks
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Re: MBA?? [#permalink] New post 25 Aug 2013, 14:28
Expert's post
Hi there,

Unfortunately, there's no right answer to this. I could direct you to a dozen articles that say an MBA is worth every penny. I could direct you to a dozen that say it's a waste of money.

This is a personal decision and you have to be honest with yourself about the risks. Is it possible you'll end up in the same industry? Yup. Is it possible you'll end up in something completely different that you absolutely love? Yup. There's no way of saying. Every person is different and who knows what you'll be able to accomplish during your MBA?

What I will say is for most people who pursue a top ranked MBA, they find the investment to have a significant return. They develop the networks, get the education, and find the opportunities they were looking for. The reason people a few years older are telling you to do it is because they wish they had done it. Or they did do it and it worked out well for them. The reason some who are in school right now are saying it might not be worth it probably aren't getting out of it what they wanted. But in each case, you have to consider your sample set may or may not represent the majority opinion.

It's expensive. There is a massive opportunity cost. But if you don't want to work your entire life in IT, then you need to make a move. An MBA is just one possible way to do that. There are others. But very few options give you the clean slate you need to truly get out of a particular profession.

I know this isn't an answer but I hope it helps you better assess what others are telling you.

Cheers!

Bhavik
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Re: MBA??   [#permalink] 25 Aug 2013, 14:28
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