Indian Non IT Male (Schools shortlisting)

Question

Hi,

Below is my brief profile:

Nationality: Indian
Gender: Male
Age: 26 years

Undergrad: IIT Roorkee (2008 batch), CGPA: 6.5 / 10 (relative grading, still not particularly good)
FRM (both levels)
Passed CFA Level - 1

GMAT: 700 (Q50, V34) and AWA: 4.5 (took on Oct 31,2011)
Work ex 1: Marketing analytics KPO (2 years)
Work ex 2: Financial Management (Process consulting) and Shared Services & Outsourcing Advisory with KPMG Management Consulting
International work ex: None, however have extensively worked with US and European clients / colleagues

Total work ex by Aug'13: 5 years and 1 months (expected)
Extra curricular: Have been involved with an NGO and worked in North India. Did a lot of stuff during the college, for example, was the General Secretary of the elected students body. Involved in managing technical festivals etc.

Major reason for MBA: Get into the finance domain (corp. finance, I - banking etc.) with direct client exposure (I have worked in an offshore model for a few years now)

I am planning to apply to 2 type of schools:

1.ASPAC region: HKUST, NUS for sure. Might also apply to ISB, NTU, HKU, INSEAD, Melbourne Business School etc. 
2. West: Schools that fit the following 3 criteria:
 a. Top 25 global rank
 b. Good finance focus
 c. Total cost (incl. living expenses) less than $ 75,000 (It would be ideal if I can get some scholarship). Probably a few 'generous' (in terms of scholarship) US schools would be a good target for me.
I have shortlisted Stern, UCLA, Ross, Columbia, Tepper etc. in this category.

I wish to understand if I am looking at the right set of schools or not. Kindly suggest me to add / delete from this list given my 3 point criteria.
Probably I should have a detailed discussion with an admission consultant for this.

Many thanks in advance!!!!
IndianExpress

Accepted.com · Answer

While you probably have a competitive profile for Stern, UCLA, Ross, and Tepper, Columbia is a big stretch. I don't think your chances of getting a scholarship are great at any of these programs, although they do support your goals. Total cost for the two years including living expenses at any of these schools exceeds $75K. You are also competitive at the ASPAC region schools you list with the possible exception of INSEAD, where your verbal score is probably low and possible ISB. You may want to consider Georgetown and Simon Rochester in the U.S. yale SOM is another good option, but again I think your chances of obtaining a scholarship aren't great. If you would consider a European school, consider Cambridge and Oxford, which are one-year MBA programs and slightly less expensive than the two-year U.S. MBA programs. They also have good finance programs.

Best,
Linda

IndianExpress · Answer

Thanks Linda for your response. It was really helpful.

I just wanted to know whether the chances of a scholarship would increase if I am able to improve my GMAT score (probably a 730 - 740). In the mean time I would keep looking for schools such as Georgetown and Rochester which might be a good target for me given the constraints.
 
Also, as far as I understand the European schools have relatively weaker finance programs and there is a much lower chance of getting a decent finance job (the visa/work-permit rules don't help either). I would probably prefer ASPAC over Europe (mainly because of the relatively stronger growth potential), any thoughts on this?

Thanks again for your response.

Regards,
IndianExpress

Accepted.com · Answer

Indian Express.

Your analysis of the EU job market is sound. The quality of the finance programs varies as it does in the U.S. Certainly now it looks like Asia's economy has much more potential for growth than does Europe. You're being practical.

yes, if you increase your GMAT score to the 730-40 range you will improve your chances of acceptance with a scholarship or grant.

Best,
Linda

IndianExpress · Answer

Hi Linda,

Thanks for confirming my hypothesis regarding the European schools. Also, I would like to congratulate you on a successful WebEx yesterday, it was really insightful.

I just wanted to update that now I have cleared CFA Level 2 examination as well (received the result a couple of days back), I hope this would have a significant (at least moderate) impact on the selection as well as the scholarship / grant decision. Any thoughts?

I am also planning to re-take the GMAT and try to improve the score to 730 - 740. However, I would still continue to reseacrch on the schools where I can apply with a budget of $ 100k (slightly increased the kitty since my earlier post), hence would probably need a scholarship / grant of approx. $ 70k.

I think I should apply to the following schools:

1. Stern - Might get a scholarship, only if the GMAT score increases
2. UCLA (Anderson) - Hope to get a scholarship here even with the current GMAT
3. Booth - Probably a long shot
4. Ross - Hope to get a scholarship here even with the current GMAT
5. Yale
6. Haas - Probably a long shot

I am not looking at lower ranked schools just for scholarship as I think it would be better do get into a better ranked Asian school than a much lower ranked US school only because of the cost. Also, the the total cost of the Asian schools falls well within my budget.

As far as the Asian schools are concerned, I plan to apply to:

1. HKUST - Language might be an issue in Hong Kong, however I think I will have to tackle it somehow
2. NUS - There are some concerns regarding the Singapore job market, however I think NUS still holds its' ground
3. ISB - This is the fall back option, there are serious concerns regarding its' high batch size (the batch size is 770) and brand dilution

I am also thinking of applying to LBS as I have heard that it gives a lot of importance to the CFA certification, however I am pretty sure that I will not get a scholarship there (might get if the GMAT increases).

It would be great if you can point out if I am looking at the right set of schools or not and validate / suggest changes to my thought process.
Finally, I would also like to understand what is the lastest time by when I should appear for GMAT if I wish to apply to the US colleges in Round 1.

Thanks a lot!!!!!
IndianExpress

Accepted.com · Answer

Indian Express,

Thanks for the feedback on the webinar yesterday. I thought it went well; Judy and I tried to provide a lot of information and advice in a short period of time. And congrats on passing part 2 of the CFA.

If your GMAT goes into the 730-40 range you will both improve your chances of acceptance and of getting funding, but the only way to find out is to apply. I'm not optimistic about the funding, especially at Haas and Booth, but I also am less versed on the criteria for funding.

You have chosen the Asian schools well. I wouldn't worry about the class size at ISB unless you start hearing that grads aren't getting jobs in finance. Large class size hasn't hurt Harvard's or Wharton's reputation. As long as ISB maintains its placement record and offers what you want to study, it's a good option.

Your top priority should not be submitting round 1. YOur top priority should be submitting the best application possible and that means with the highest GMAT score you can get. So first ask yourself how much time do you need to prepare for the GMAT such that you believe you can raise your score. Then determine if you have the time to submit any applications R1. Then you can figure out how many you can complete without compromising on quality. It depends on the schools you apply to and how many essays they have.

For more on this topic, please see  The Great Round1/Round 2 Fight .

If you would like  help with your MBA applications , please keep Accepted in mind.

Indian Non IT Male (Schools shortlisting)

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