I am new to this group, and this is my first mail. Let me introduce myself first. I am Gaurav Bansal and have completed my B.tech. in Computer Science & Engineering from Indian Institute of technology, Delhi this year. My GPA is 8.65 on a scale of 10. Currently I am working in a US consultancy firm as an analyst, based in New Delhi. I took my GMAT in June, and scored 770. I got 5.5 in AWA.
I want to apply next year, to start my MBA in mid-2006, so that I would have 2 years of work experience by then. But right now I am very confused as to which schools I should apply to.
First of all, I prefer a 1-year MBA over a 2-year one. I know about INSEAD, which is like one of the top B-schools. I have heard of IMD too, though not very sure of its reputation. I have done a lot of research, and all the US schools (Harvard, Kellogg, Wharton, Sloan, Duke, NYU, Columbia, etc etc ) have 2-year MBA. What adds to my grief is that it is very very hard to get scholarship to finance MBA, and to tell very frankly, I don't have family fortunes to meet the likes of 120, 000 $ which these schools cost. Thus, a 1-year programmes becomes even more suitable for me. Even if we dont consider the financinf problem, I still want to do a 1-year MBA, and as soon as possible (that's why I am applying with 2 years of work experience). ISB (Indian School of Business) is another viable option, though INSEAD seems like the best right now.
Can you guide me as to which schools are appropriate for me? Where all can I get reasonable funding/scholarships? Where all are my chances of getting an admission very bright taking into account a short work experience though a good GMAT score and a world known degree from a reputed engineering institute?
Hoping to hear from you soon.
Hjort summed up the situation pretty well for you -- if you insist on starting your MBA in 2006. I must add that I think your chances in the one-year programs with only 2 years of work experience are on the slim side. In addition, if you want to use the MBA to change career direction, you would be better off with a two-year program that allows for an internship, which frequently is a means to a permanent position.
The European programs, like Insead and IMD, do prefer more experienced applicants. Insead has said it is more open now than it used to be to applicants with less experience, but the stats don't show it.
Also, don' t write off scholarship opportunities with the top US programs. Given your impressive academic credentials, you may be eligible for financial aid, at least loans. And the latest recruiting news is excellent for MBAs so investing in a two-year program may pay off for you.
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