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Please help - Questions about MBA and after

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Please help - Questions about MBA and after [#permalink] New post 19 Apr 2013, 22:38
Hi there,
I would like to study MBA from top 10 universities in the US. Could anyone please have a look at my profile and let me know my chances of getting into top schools? I also have lot of other questions.

Academics :-
SSC - 84%; Intermediate/+2 - 91%; Engineering - 76% ; I won an award from Govt of AP (India) (Prathibha award) for securing good rank in Engineering Entrance Exam;

Work experience :-
I have around 9 years of experience in IT. I worked with top Indian MNCs as a project manager for an year, project lead for around 4 years. Worked in onsite for about an year. Currently I am working for a friend's start-up to gain experience to start my own in future.
Had awards and promotions in the companies I worked.
Have got 2 technical certifications and 4 certifications in Life Insurance domain (LOMA certifications - short of one certification for ALMI designation)

Extracurricular :-
Have participated in lot of extracurricular activities during my school and college days; Have been associated with a slum improvement program with an NGO for 2 years. Have good knowledge of public policy and governance as I also prepared for Indian Civil Services for a while.

Expectations out of MBA:
Consulting then move onto Entrepreneurship. And I also plan to start my own NGO later on when I am financially ok.

My questions are:
1) As I asked above: what are my chances of getting into top 10 US schools?
2) I am planning to give GMAT by the end of this May. What is the score expected to get into these schools? Will I get enough time to prepare for my application if I give GMAT in July?
3) What would be total cost of the MBA programme and the living expenses during the 2 years?
4) Do the schools offer any scholarships? If yes, what would be the probability that I get one?
5) Is it possible to work part time in the hectic schedule? How about the study loans? Should we take loans from Indian Banks or US banks?
6) How about jobs after MBA? How long would it take to pay off the entire loan?

Please help!

- Swetha
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Re: Please help - Questions about MBA and after [#permalink] New post 22 Apr 2013, 02:14
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Swetha,
Good to hear from you!!

And thanks for dropping by.

1) As I asked above: what are my chances of getting into top 10 US schools?
So first off, I think I need to maybe bring up a bit of a reality-check for you. An an Indian/male/tech candidate with what I see from what you have written as "middle-of-the-road" experience, top 10 programs will be long shots for you, no matter how good you score on your GMAT. You can for sure apply to one or two of your dream schools, the ones you love the most, but the chances will be slim. Depending on your score, your "Sweet spot" may lay in the 10-30 range.

2) I am planning to give GMAT by the end of this May. What is the score expected to get into these schools? Will I get enough time to prepare for my application if I give GMAT in July?
Like I wrote, even with a 720+ these schools will be challenges. But with a 700+ schools in range 10-30 will be open to you.

3) What would be total cost of the MBA programme and the living expenses during the 2 years?
Between 80=120K$ Yep! It's that much money!

4) Do the schools offer any scholarships? If yes, what would be the probability that I get one?
Many schools offers scholarships. In general if you want to get a scholarship, you get them offered by schools that are slightly less good than what you can really get into. So for example, let's say you are UCLA material. Then maybe BU would offer you a scholarship. Scholarships are generally offered to candidates schools want to entice to come because they believe they are particularly strong.

5) Is it possible to work part time in the hectic schedule? How about the study loans? Should we take loans from Indian Banks or US banks?
It's not recommended to work part-time. You will likely have your hands full. As for the study loans: wherever it is cheaper for you to borrow from!

6) How about jobs after MBA? How long would it take to pay off the entire loan?
It depends on your school, your tuition, your salary, your industry, etc. There are many loan repayment calculators online, which will help you figure that out. Many people say that if you can pay off in 10 years this is very good, but again, you need to calculate this according to the specifics of your situation.

Hope this helps!

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Re: Please help - Questions about MBA and after [#permalink] New post 22 Apr 2013, 03:33
What is the future of online education?
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Re: Please help - Questions about MBA and after [#permalink] New post 23 Apr 2013, 04:02
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Wow! What a question!!! The future is wide open I'd say. It's vast and changing all the time. In general brick and mortar MBAs offer far more opportunities, but if you only need the knowledge say for your own family business) they can be great options. If you want the MBA to get a good corporate job, they are often less good.

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Re: Please help - Questions about MBA and after [#permalink] New post 23 Apr 2013, 10:17
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JonAdmissionado wrote:
Swetha,

3) What would be total cost of the MBA programme and the living expenses during the 2 years?
Between 80=120K$ Yep! It's that much money!


Hi Jon-I guess considering all the costs(living and other miscellaneous expenses) it would go up to $160K-$180K in 2 years..Your thoughts please!

JonAdmissionado wrote:
4) Do the schools offer any scholarships? If yes, what would be the probability that I get one?
Many schools offers scholarships. In general if you want to get a scholarship, you get them offered by schools that are slightly less good than what you can really get into. So for example, let's say you are UCLA material. Then maybe BU would offer you a scholarship. Scholarships are generally offered to candidates schools want to entice to come because they believe they are particularly strong.


Could you please come up with scholarships and financial aid options for Indian applicants in general(may be not school specific)...And BTW, any idea-what is the GENERAL interest rate for MBA loans from US banks...?

JonAdmissionado wrote:
5) Is it possible to work part time in the hectic schedule? How about the study loans? Should we take loans from Indian Banks or US banks?
It's not recommended to work part-time. You will likely have your hands full. As for the study loans: wherever it is cheaper for you to borrow from!


I've read in the forums that people pursuing FULL TIME MBA in US,can work on campus and pay for their own living expenses....? It would be great if you please shed some lights on this?(are you considering this as working part-time..?)

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Re: Please help - Questions about MBA and after [#permalink] New post 23 Apr 2013, 10:37
JonAdmissionado wrote:
Swetha,
Good to hear from you!!

And thanks for dropping by.

1) As I asked above: what are my chances of getting into top 10 US schools?
So first off, I think I need to maybe bring up a bit of a reality-check for you. An an Indian/male/tech candidate with what I see from what you have written as "middle-of-the-road" experience, top 10 programs will be long shots for you, no matter how good you score on your GMAT. You can for sure apply to one or two of your dream schools, the ones you love the most, but the chances will be slim. Depending on your score, your "Sweet spot" may lay in the 10-30 range.



Thanks Jon for throwing some light!
Could you please answer my questions below?

1) I am a female - Does that help in anyway?
2) Also what is your view on pursuing MBA from Indian schools such as ISB/IIM Ahmedabad. Does their degree have the same advantage of the similarly ranked schools?
3) Are the one year degree programmes considered on par with the two-year ones?
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Re: Please help - Questions about MBA and after [#permalink] New post 23 Apr 2013, 10:55
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swethareddyd wrote:
JonAdmissionado wrote:
Swetha,
Good to hear from you!!

And thanks for dropping by.

1) As I asked above: what are my chances of getting into top 10 US schools?
So first off, I think I need to maybe bring up a bit of a reality-check for you. An an Indian/male/tech candidate with what I see from what you have written as "middle-of-the-road" experience, top 10 programs will be long shots for you, no matter how good you score on your GMAT. You can for sure apply to one or two of your dream schools, the ones you love the most, but the chances will be slim. Depending on your score, your "Sweet spot" may lay in the 10-30 range.



Thanks Jon for throwing some light!
Could you please answer my questions below?

1) I am a female - Does that help in anyway?
2) Also what is your view on pursuing MBA from Indian schools such as ISB/IIM Ahmedabad. Does their degree have the same advantage of the similarly ranked schools?
3) Are the one year degree programmes considered on par with the two-year ones?


Swetha-although I'm no way an expert and the qs. were for Jon...still would like to share my 0.02 cents here.

1.Being a female,of course you stand out initially from the super competitive and heavily populated Indian IT Male subgroup :)

2.Those are just awesomeeeee programs...IIM A is among the world's top 15 list and ISB in top 20.But top 5-7 US programs will gonna have an edge over any other in the world I think...I hope you understand why it's so... 8-)

3.Any top 1year program is at par with any top 2 year program I think with only main differences-you shell out more money in the 2nd case and won't get internship option to leverage in the 1st unlike 2nd..

Well, having said that let's now wait for the Guru's comments...:)

And oh! Jon-it would be really great if you please shed some light on my questions in my post above...

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Last edited by bagdbmba on 23 Apr 2013, 20:01, edited 1 time in total.
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Re: Please help - Questions about MBA and after [#permalink] New post 23 Apr 2013, 19:22
Thanks debayan222! yeah.. Guess Jon will definitely have more to add! :)
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Re: Please help - Questions about MBA and after [#permalink] New post 24 Apr 2013, 03:37
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Aw you guys are sweet, but debayan, your answers are pretty much on the dot. Being female is for sure an advantage, and yes one year programs are as good as 2-year programs (but maybe a bit less for career changers) Expect I'd say that the top US programs are a LOT more valuable than the Indian programs (unless maybe you prefer to stay in India)

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Re: Please help - Questions about MBA and after [#permalink] New post 24 Apr 2013, 05:03
Expert's post
debayan222 wrote:
JonAdmissionado wrote:
Swetha,

3) What would be total cost of the MBA programme and the living expenses during the 2 years?
Between 80=120K$ Yep! It's that much money!


Hi Jon-I guess considering all the costs(living and other miscellaneous expenses) it would go up to $160K-$180K in 2 years..Your thoughts please!

JonAdmissionado wrote:
4) Do the schools offer any scholarships? If yes, what would be the probability that I get one?
Many schools offers scholarships. In general if you want to get a scholarship, you get them offered by schools that are slightly less good than what you can really get into. So for example, let's say you are UCLA material. Then maybe BU would offer you a scholarship. Scholarships are generally offered to candidates schools want to entice to come because they believe they are particularly strong.


Could you please come up with scholarships and financial aid options for Indian applicants in general(may be not school specific)...And BTW, any idea-what is the GENERAL interest rate for MBA loans from US banks...?

JonAdmissionado wrote:
5) Is it possible to work part time in the hectic schedule? How about the study loans? Should we take loans from Indian Banks or US banks?
It's not recommended to work part-time. You will likely have your hands full. As for the study loans: wherever it is cheaper for you to borrow from!


I've read in the forums that people pursuing FULL TIME MBA in US,can work on campus and pay for their own living expenses....? It would be great if you please shed some lights on this?(are you considering this as working part-time..?)


Hi Jon,
Any update on this...?

Eagerly awaiting your expert's comments man...!

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Re: Please help - Questions about MBA and after [#permalink] New post 24 Apr 2013, 05:08
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JonAdmissionado wrote:
Aw you guys are sweet, but debayan, your answers are pretty much on the dot. Being female is for sure an advantage, and yes one year programs are as good as 2-year programs (but maybe a bit less for career changers) Expect I'd say that the top US programs are a LOT more valuable than the Indian programs (unless maybe you prefer to stay in India)


Thanks Jon for your reply...

Look forward to your feedback on my questions too in the immediate above post... :)

Actually,for my own clarifications I threw some queries on your comments to another post..!

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Re: Please help - Questions about MBA and after [#permalink] New post 24 Apr 2013, 09:04
JonAdmissionado wrote:
Aw you guys are sweet, but debayan, your answers are pretty much on the dot. Being female is for sure an advantage, and yes one year programs are as good as 2-year programs (but maybe a bit less for career changers) Expect I'd say that the top US programs are a LOT more valuable than the Indian programs (unless maybe you prefer to stay in India)


Thanks for the advice Jon! I would prefer an MBA from US schools to Indian schools and would not mind working working abroad. Only worried about the expenses and the time to pay off the study loans.. Hence the questions about working part time! Please help.
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Re: Please help - Questions about MBA and after [#permalink] New post 27 Apr 2013, 10:21
Expert's post
debayan222 wrote:
JonAdmissionado wrote:
Swetha,

3) What would be total cost of the MBA programme and the living expenses during the 2 years?
Between 80=120K$ Yep! It's that much money!


Hi Jon-I guess considering all the costs(living and other miscellaneous expenses) it would go up to $160K-$180K in 2 years..Your thoughts please!

JonAdmissionado wrote:
4) Do the schools offer any scholarships? If yes, what would be the probability that I get one?
Many schools offers scholarships. In general if you want to get a scholarship, you get them offered by schools that are slightly less good than what you can really get into. So for example, let's say you are UCLA material. Then maybe BU would offer you a scholarship. Scholarships are generally offered to candidates schools want to entice to come because they believe they are particularly strong.


Could you please come up with scholarships and financial aid options for Indian applicants in general(may be not school specific)...And BTW, any idea-what is the GENERAL interest rate for MBA loans from US banks...?

JonAdmissionado wrote:
5) Is it possible to work part time in the hectic schedule? How about the study loans? Should we take loans from Indian Banks or US banks?
It's not recommended to work part-time. You will likely have your hands full. As for the study loans: wherever it is cheaper for you to borrow from!


I've read in the forums that people pursuing FULL TIME MBA in US,can work on campus and pay for their own living expenses....? It would be great if you please shed some lights on this?(are you considering this as working part-time..?)



Hey Jon-could you please come up with your comments on my thoughts above in reply to your comments...?

Much thanks!

_________________

UPDATED : e-GMAT SC Resources-Consolidated || ALL RC Resources-Consolidated || ALL SC Resources-Consolidated || UPDATED : AWA compilations-109 Analysis of Argument Essays || NEW !!! GMAC's IR Prep Tool

GMAT Club guide - OG 11-12-13 || Veritas Blog || Manhattan GMAT Blog


KUDOS please, if you like the post or if it helps :-)

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Re: Please help - Questions about MBA and after [#permalink] New post 28 Apr 2013, 23:15
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Sure thing.

3. Yep, you are right. That was just tuition. With living expenses, your numbers are closer to the truth.

4. There is nothing "in general" I can think about, other than the funding offers that the MBAs make upon giving you your acceptance offer, and that one is based on the strength of your candidacy, and how much they want to entice you.

5. There are some possibilities to do this and cover your living expenses, but MBA students don't do this so much (cause they are too busy). But it's up to you. Look into positions in living management (RA) in the schools you are thinking about.

Hope this helps!!!

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