Chicago Booth or IIM B/C : Admitted - Which BSchool to Choose? - Page 2
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# Chicago Booth or IIM B/C

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Intern
Joined: 01 Nov 2010
Posts: 32
Location: India
GMAT 1: 740 Q49 V42
GPA: 3.77
WE: Corporate Finance (Consulting)
Followers: 6

Kudos [?]: 18 [0], given: 1

Re: Chicago Booth or IIM B/C [#permalink]

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18 Apr 2014, 09:39
There is a lot of competition for management consulting jobs, particularly for M/B/B.
About 13 to 15% of the MBA students get into these three top firms- M/B/B.
About 15 to 20% of Indian MBA students manage to get jobs in M/B/B.
Intern
Joined: 23 May 2014
Posts: 1
Followers: 0

Kudos [?]: 0 [0], given: 0

Re: Chicago Booth or IIM B/C [#permalink]

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24 May 2014, 18:53
Thanks manohar for the update. Congratulations.

At the beginning, you were pondering about the high fee $170K in Booth and the burden of clearing out the loans after graduation. Now that you graduated out of Booth, can you please share your perspective on the financial angle, which can be very useful to others in the same dilemma? manohar wrote: My future career - management consulting- got a job with one of the M/B/B firms. Just for the information of those of you aspiring for an MBA in US- Even if one gets into a top US business school, all students are not equal; some are more equal than others. It all depends on your profile- the kind of educational background and prior work experience. In the case of Indian citizens, if you have already studied and worked in US and have a green card, you are at an advantage compared to those students who studied and worked entirely in India/ outside US, before joining the B-school in US. Those who have studied in IIT/ NIT or had prior work experience in companies like Mckinsey, BCG, Goldman Sachs, Barclays, Google etc. before joining the MBA are at an advantage over others who studied in a regular/ not so well-known college and did not have prior work experience in companies like those mentioned above. If you have just regular IT software experience form companies like Infosys , TCS and WIPRO, first of all getting in is much more difficult and even after getting in, finding a good internship and a good job is difficult (some people with these backgrounds do manage, though). Intern Joined: 01 Nov 2010 Posts: 32 Location: India GMAT 1: 740 Q49 V42 GPA: 3.77 WE: Corporate Finance (Consulting) Followers: 6 Kudos [?]: 18 [0], given: 1 Re: Chicago Booth or IIM B/C [#permalink] ### Show Tags 25 May 2014, 05:11 It is true that$170-180K is a big amount and repaying that is not very easy. In my case, fortunately I have received $30K scholarship and that reduced the total cost to$140K.
Even then it is a lot of money. From my prior savings and summer internship savings I could raise $25 K and some amount of money from my family. Net, net I have less than$100k loan and the loan has been arranged entirely by the Booth school with out any surety. If I don't live ostentatiously, it will take me less than 2 years to repay the loan.

But, each case is unique. It depends on whether you get a scholarship and how much and even more importantly whether you get a good job and in US or other such places with high savings potential.
Most people do get fairly good jobs after graduation, most of them in US (I am referring to the case of Indians from Booth school. I presume, it must be equally good with other top schools). In all such cases, I think the loan could be repaid in 2 to 3 years, provided the loan is not much more than $100K. I am sure every one will have some savings and can save some amount from summer internship. But I do know one or two stray cases of people struggling to find a good job after graduation. In such an event, the loan can be very onerous. But the probability of such an occurence, in my view, would be less than 5%. It will also depend on your past background. If you are a strong candidate, to begin with, you are likely to get a scholarship and a very good job on graduation. But if you are borderline candidate who happened to scrape through the admission process, then the risks are more. As I mentioned in my previous posts, people with prior US education and experience or if from India, if they worked in companies like Mckinsey, Goldman, JP Morgan etc. prior to their doing the MBA, then they are not likely to have much of a problem in finding a good job. Net,net, if you have to take a loan of$100K or less, I think it is worth taking the risk, in most cases. But, if you want to finance your studies entirely through loan, that would mean $150K or more and that increases risks. But some people may still find it worth while! But I would be a little more worried to take on a$150K loan. Since my loan was less than $100K, I felt that it was a risk I could take. It also depends on business cycles. Just now the business cycle seems to be improving and job scene is good. Intern Joined: 17 Jun 2014 Posts: 3 Followers: 0 Kudos [?]: 0 [0], given: 0 Chicago Booth or IIM B/C [#permalink] ### Show Tags 12 Jul 2014, 09:58 manohar wrote: My future career - management consulting- got a job with one of the M/B/B firms. If you have just regular IT software experience form companies like Infosys , TCS and WIPRO, first of all getting in is much more difficult and even after getting in, finding a good internship and a good job is difficult (some people with these backgrounds do manage, though). Hello, I wanted to get a bit more perspective on this. I work with Infosys and do not have IIT league education. But i do have good international WE in Europe the last 4 years . Do you see students with such background in the top 20 programmes in the US ? How do they fare with the search for internships - especially those trying to change fields from IT ? Any pointers to someone on this forum ? Tx Intern Joined: 01 Nov 2010 Posts: 32 Location: India GMAT 1: 740 Q49 V42 GPA: 3.77 WE: Corporate Finance (Consulting) Followers: 6 Kudos [?]: 18 [0], given: 1 Re: Chicago Booth or IIM B/C [#permalink] ### Show Tags 14 Jul 2014, 05:16 I have no idea about top 20 programmes. I only know about Chicago Booth. IT guys usually end up in IT companies. A few manage to shift to management consulting; at least, this is the case at Booth. Strong IT guys are able to get into companies like Apple, Google, PayPal and Amazon at Booth. Some do struggle. stealth897 wrote: manohar wrote: My future career - management consulting- got a job with one of the M/B/B firms. If you have just regular IT software experience form companies like Infosys , TCS and WIPRO, first of all getting in is much more difficult and even after getting in, finding a good internship and a good job is difficult (some people with these backgrounds do manage, though). Hello, I wanted to get a bit more perspective on this. I work with Infosys and do not have IIT league education. But i do have good international WE in Europe the last 4 years . Do you see students with such background in the top 20 programmes in the US ? How do they fare with the search for internships - especially those trying to change fields from IT ? Any pointers to someone on this forum ? Tx Intern Joined: 25 Jun 2014 Posts: 2 Followers: 0 Kudos [?]: 0 [0], given: 0 Chicago Booth or IIM B/C [#permalink] ### Show Tags 22 Jul 2014, 06:05 Awesome stuff Manohar coming back after 2 years and completing the story makes a lot of sense ... need some guidance please... well my best case scenario would be the one that you were in 2 years back.. and that is getting an admit from Top School and worrying about the loan. I am from private engineering college in India worked for 3 years in ERP consultant (IT) role and then left my job did one year full time program from NISM (SEBI) in Securities Markets, now working with a private Indian Bank as FX & Derivative FO sales trader - Treasury for last 3 years. What would you suggest best MBA for me... my concerns are a) Tution/Loan (yes i dont have savings ) b) Bad acads/unknown colleges c) Age would be 30 at the time of applying d) Duration of program ideally should be one year (considering my profile,education,money,age) My pluses that I think are a) Core Finance qulaity work ex (pre MBA.. i think its not common for Indian applicant..) b) Already a Post Grad c) Worked in completely two different profiles i.e IT and finance d) Decent years of workex will be 6+ by the time I apply (not sure if its a plus or minus) Please guide me on this. I have shortlisted some schools too.. please let me know on my choice.. and suggest .. also I have heard great things about Booth for finance please enlighten and guide. a) NTU, HKUST b) MBS/AGSM c) Cambridge/Oxford d) Insead/LBS/Kellogs e) Booth/Wharton etc Intern Joined: 01 Nov 2010 Posts: 32 Location: India GMAT 1: 740 Q49 V42 GPA: 3.77 WE: Corporate Finance (Consulting) Followers: 6 Kudos [?]: 18 [0], given: 1 Chicago Booth or IIM B/C [#permalink] ### Show Tags 22 Jul 2014, 21:28 repeat post Last edited by manohar on 22 Jul 2014, 21:33, edited 1 time in total. Intern Joined: 01 Nov 2010 Posts: 32 Location: India GMAT 1: 740 Q49 V42 GPA: 3.77 WE: Corporate Finance (Consulting) Followers: 6 Kudos [?]: 18 [0], given: 1 Re: Chicago Booth or IIM B/C [#permalink] ### Show Tags 22 Jul 2014, 21:31 I really don't know much about b-schools like HKUST, NTU, MBS, AGM etc. I think it is not easy to get jobs post-MBA from Oxford/ Cambridge for an Indian, given the tough immigration policies of UK. LBS, Wharton, Booth and Kellogg are good and well known schools. If you can get into any of them, there is a good chance you won't regret it after graduating from these schools. But it is not completely assured. There is a 5 to 10% chance that you may not find a suitable job that can help you repay the huge loan you need to take. Whether or not you can can get into any of them, I am not in a position to assess. I think it is important to assess the post-MBA employment opportunities. You need to be clear about where you intend to work post-MBA and whether the MBA can open the doors for the kind of job you are looking for in the geography you are looking for. Just going by rankings is not such a great idea. Have you thought of Masters in Finance programmes? LBS, Princeton, CMU, probably MIT and some other schools have excellent programmes. Those might be a better fit for you! caterpilar wrote: Awesome stuff Manohar coming back after 2 years and completing the story makes a lot of sense ... need some guidance please... well my best case scenario would be the one that you were in 2 years back.. and that is getting an admit from Top School and worrying about the loan. I am from private engineering college in India worked for 3 years in ERP consultant (IT) role and then left my job did one year full time program from NISM (SEBI) in Securities Markets, now working with a private Indian Bank as FX & Derivative FO sales trader - Treasury for last 3 years. What would you suggest best MBA for me... my concerns are a) Tution/Loan (yes i dont have savings ) b) Bad acads/unknown colleges c) Age would be 30 at the time of applying d) Duration of program ideally should be one year (considering my profile,education,money,age) My pluses that I think are a) Core Finance qulaity work ex (pre MBA.. i think its not common for Indian applicant..) b) Already a Post Grad c) Worked in completely two different profiles i.e IT and finance d) Decent years of workex will be 6+ by the time I apply (not sure if its a plus or minus) Please guide me on this. I have shortlisted some schools too.. please let me know on my choice.. and suggest .. also I have heard great things about Booth for finance please enlighten and guide. a) NTU, HKUST b) MBS/AGSM c) Cambridge/Oxford d) Insead/LBS/Kellogs e) Booth/Wharton etc Intern Joined: 25 Jun 2014 Posts: 2 Followers: 0 Kudos [?]: 0 [0], given: 0 Re: Chicago Booth or IIM B/C [#permalink] ### Show Tags 24 Jul 2014, 22:36 This was helpful.. looks like a practical advice .. well i have thought about this before, the only glitch here is that there are not many MFin programs for someone who is having experience of 5-6 years, barring a few like LBS,Cambridge etc. Can you suggest me some good programs in US for experienced candidate and age ~ 30. manohar wrote: I really don't know much about b-schools like HKUST, NTU, MBS, AGM etc. I think it is not easy to get jobs post-MBA from Oxford/ Cambridge for an Indian, given the tough immigration policies of UK. LBS, Wharton, Booth and Kellogg are good and well known schools. If you can get into any of them, there is a good chance you won't regret it after graduating from these schools. But it is not completely assured. There is a 5 to 10% chance that you may not find a suitable job that can help you repay the huge loan you need to take. Whether or not you can can get into any of them, I am not in a position to assess. I think it is important to assess the post-MBA employment opportunities. You need to be clear about where you intend to work post-MBA and whether the MBA can open the doors for the kind of job you are looking for in the geography you are looking for. Just going by rankings is not such a great idea. Have you thought of Masters in Finance programmes? LBS, Princeton, CMU, probably MIT and some other schools have excellent programmes. Those might be a better fit for you! Re: Chicago Booth or IIM B/C [#permalink] 24 Jul 2014, 22:36 Go to page Previous 1 2 [ 29 posts ] Similar topics Replies Last post Similar Topics: MIT Sloan Vs Chicago Booth 5 27 Feb 2014, 07:45 7 Berkeley-Haas or Chicago-Booth? 20 05 Apr 2013, 12:59 11 Chicago Booth with$ & MIT 15 04 Apr 2013, 06:53
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