m finding myself in a bit of a quandary, with the whole MBA hoopla. Lemme explain:
I an Indian Dude 28(M), graduated from no name schools ( college degree) with like 50% marks cause bruh.But i have been a successful entrepreneur for the past 5 years and i have learned a whole lot.
But now i am burned out as hell due to my business and i decided to wind it all down, i have no more interest in furthering it anymore. I realized i was miserable for the most of it and could have earned more, a lot more but hey that's life. I, also want to Immigrate out of India, so yeah that too is a significant motivator.
I have been checking out a lot of MBA programs, my motivations and what job would make me fulfilled and help me grow more. After a lot of discussion and research, its actually Consulting.
I have been checking out a lot of programs, and only, the top programs make sense to me, to transfer out to MBB post MBA.
Options have been as follows:
LBS / Insead
T10 US schools.
ISB. India
Now the million dollar question, where do i go and which country to pick.
You see MBB pay the most to US employees and also have low taxes. An associate is paid 200-220K right out of the gate.Which would help me to set-off the massive loans around 200-250k.Also these MBA's are stem MBA's in name so i get three years of OPT years to try for H1B visa, which i have told have very good chances for such people. Assuming even the worst case of 6 years of employment in US, i am already debt free by Year 2-3.( banking on No interest loans, or very little interest loans, yes i have my ways
)
Calculation for you guys
Loan: 250K-300K
Salary: 210K
Post Tax: 156 K ( NY taxes)
COL: 50-80K ( live very frugally)
Money towards Loan payment: Minimum 80K every year
Debt Free: 80K * 3= 240K
Now second Option LBS/Insead, where i can go to Europe MBB, but salary is bad like 50% of US salary and super high income taxes (around 35-50%). Plus the cost of living is also expensive, but i will have less financial burden and a good path to immigration.
Calculation For London
Loan: 125K Euros
Salary: 92K Euro
Post tax: 60K Euro (for London)
Col: 30K
Money towards loan : 30K
Debt free : 3 - 4 Years
Yes i know i haven't taken interest in consideration, but as i iterated earlier i may be able to score very low interest rates or interest free loans, if i don't get them then extend the repayment period by 1-2 years.
Last option:
Do MBA in India, from ISB (Indian School of Business) (MBB hires a lot) and forget about steeping out (at-least for 4-5 years, as i strictly want to go for consulting). I am extremely doubtful of my chances, to go international with an Indian MBA.Yes i am aware that thousand of people have gone with an Indian MBA, not looking down on them.But, for my career path Consulting, i am very doubtful.
But it is the path of most certainty and literally safer, than anything else.
Also, i just want out of this country and work culture is Toxic AF.
Also growth opportunities are the maximum in USA.
Calculation:
Loan: 60000 ( literally can pay of as per my convince and 0% interest)
Salary: 37500 USD ( hired as junior associate)
Taxes: 26250
Col: 15000 ( Mumbai )
In the scenario of least risk India seems to be the choice. Most rewarding option is USA but also the riskiest, failure to get MBB, i am royally ****.
Insead/LBS is the second riskiest option.
ISB, india is the most safe option.
So experienced redditors, tell me what should i do ?
Do i stay in India and suck it up or shoot for the moon.
P.S Not married, no major responsibilities except parents but they are in good financial situation.
P.P.S Also, do international students (Non-US residents) at Insead get placed at MBB roles in USA, cause that would be a game changer and a no brainer move for me, but i have no information for the same.Can anyone shed some light on this ?