MBA - US or India

I think you've got to ask yourself why you are thinking of going to the US to get an MBA. Is it because you want to experience a different culture? A new style of learning? Broaden your horizon? Get out of your comfort zone? Add prestige (assuming you get into an elite program) to your resume? Or get the chance to meet an American girl and start a family there? There are many Indian b-schools (e.g IIM) that are fast gaining global recognition and many MNCs are relocating their operations to Asia, esp with the ongoing recession in Europe and persistent anaemic growth in the US. And if you are able to get into a good Indian b-school (don't assume you can get in, as there are many other non-Indians who are also looking to apply to an Indian b-school), you should be able to get into a good organization and from there, gain the opportunity to work cross-border and globally. Many MNCs believe in posting their talented staff to overseas operations for good reasons.

It's extremely costly to study at an American b-school with tuition fees appreciating by 5 - 7% per annum. If you are not able to get a scholarship to help defray the costs, you will graduate with the burden of having to find a well-paying job (which may not be in line with your ultimate career goals and personal interests) to pay off those 100k debts with interests. It's a choice you have to make yourself.

My advice would be to apply to both Indian and US b-schools. Time your app such that you will get a decision from all schools at around the same time. Don't get overcome by the euphoria of being admitted to a good US/Indian b-school. Be pragmatic, rational and honest in your application and your assessment (when the offers come in). Unless those are Harvard / Wharton / Stanford, you should not pop the champagne too early.

Hope this piece of advice is useful. I am writing from the experience of having gone through the admissions process 3x and will be matriculating at a not-so-highly ranked school in the US. International too. I struggled to convince myself to attend a low ranking program and it's for personal reasons (to perfect my communication skills and to meet a future life partner) that I decide to matriculate. I hope you will wish me luck too