bsd_lover wrote:
Manohar - from my experiences ( have a few friends from IIM and I also went to booth on exchange) - IIM does place some people in international roles (at Senior Analyst levels) to primarily London / Singapore and Hong Kong. However, these people tend to be the top 5% of the class, or people who have come to IIM with overseas experiences already. The competition for overseas placements is incredibly tough (even tougher due to the crisis). Hence going to IIM means almost certainly working in India.
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This is true. Most of the positions out of IIM are not for the post-MBA associate level positions you would get by going to an American MBA. But once you get the position you don't need a 2nd MBA to move to the post-MBA position. IE, you will start as an investment banking analyst and will directly go to associate, VP, MD etc without needing a new MBA. But this is because a lot of students don't have relevant or no work experience prior to their MBAs. I am sure if you worked in McKinsey before MBA, get an MBA from IIM A/B/C you would get a post-MBA position at a consulting firm.
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So, you will have to consider carefully what is more important to you. A global career with a large debt or a regional career with a small debt. Further, even going to Booth doesn't guarantee a job in the US these days. Several consulting firms don't hire folks who are not pre-authorised to work in the US already. The Indians who couldn't find jobs in US had to seek out alternatives such as Middle East or Asia (and back to India in some extreme cases).
Going to IIM B/C does not exclude you from a global career and going to Booth does not guarantee a global career. At the end of the day it's going to come down to what you have done. Yes the Booth name is widely recognized, but if you have crappy post-MBA work experience, the name won't do anything for your prospects. If you go to IIMs, get a job at an awesome firm and are a superstar there, no-one is going to stop you dream of having a global career just because your MBA is from IIM.
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As others have mentioned previously, you should absolutely consider factors such as quality of education, experiences of your student body into your decision. Chicago is an extremely rigorous school with outstanding quality of teaching but its a more holistic MBA experience. IIM seems to be absolutely all about studies and not much else. Plus the student body is extremely young with nearly zero experiences.
This is probably true. I have been told first hand that IIM students are quite 'nerdy'.
Having said all this, at the end of the day, if I were you, I would take Chicago Booth. Global name, international student body and great career prospects. Especially given the fact that you have 4 years of experience. If you were fresher then it might have been different. But with Big 4 experience, Booth is the way to go.And if you want you can always do an MBA at Booth and go work at a consulting firm's India office.
I personally wouldn't worry about the debt. You work in consulting/banking for a year or two and use the massive signing/year end bonuses to pay off debt.