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devil420
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Works for me as well now! It looks like in addition to the deposit, Oxford wants proof of financial commitment for £46,000 (£31,000 tuition + £3,000 college fee + £12,000 living expenses). And FYI, I was informed that the first round of scholarship decisions (SBS-related) will be sent shortly, with the additional University of Oxford-specific scholarships to be decided in April.

Alas, after additional research and more discussions with friends, alumni and my student ambassdor "buddy" (along with the occasional consultation/debate with bsd_lover :-D), I am going with my first love, LBS. I've recently paid my Commitment Fee (we have two deposits -- one for £1,500 due next week and one for £6,000 in June), and will probably visit campus again in June for their Admits' Weekend.

Either way, I hope we all get to meet up in the UK later this year!

P.S. I am still in for the robbery. London ain't cheap! :lol:
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Well, I understand your decision, Prashok, and have no doubt that you will be having a great time at LBS! Still, we UK MBA folks (from LBS, Oxbridge, Cranfield) will certainly meet :)

Btw, when will you be withdrawing your JBS and SBS apps? Just curious.
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Already withdrew for JBS, and will likely do the same for SBS next week...
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Hi friends. Just came across this post at one of the MBA Forums in India(pagalguy). Although it is scary and the poster is obviously playing devil`s advocate, but what do u people think over the issue?

Guys,
I don't wish to pour cold water over your enthusiasm.
But I fee l it is important that all those guys who have been offered admission at these prestigious University B-Schools, go with their eyes fully open and prepare themselves to any eventuality.

The placement reports of these schools indicate that about 90% or probably less students are placed in jobs 3 months after the completion of the programme ( by the way these stats are for the 2007 passouts, when job market was far better). What about the remaining 10%?- no idea!.
Secondly, in a difficult job market condition like the present one, job opportunities are far more difficult for the non-locals like us Indians in Europe or US. I don't know how many of those 10%+ who might not have yet found jobs are Indians! How many had to come back to India!

The following is an excerpt from the mba-crackers post: "On the job front, I am currently working in UK. And let me be very frank. The situation here is even more serious than US. Economy is currently in a worst state. Moreover, UK is a very small country. So, jobs even in good times are limited. But it is possible to get in good times if you try hard. Now, I am not very sure. So, we have to hope things improve by 2011 or 2012. Having said that, you should have a backup plan to come back to India and look for jobs. I am not exaggerating the situation here. Job situation is really bad".

A guy who graduated from one of these prestigious B-Schools (Indian, IT, Male, 4 years experience) just recently (2008 pass-out) had to come back to India and was still trying to get a job even 3-months after graduation.
It seems with some difficulty, he has been able to manage to get an offer from his previous company (one of the well known software services companies in India). He was drawing Rs 6 Lakhs before he quit the job to join the B-school. In the job he is about to get now, he will get Rs. 12 Lakhs CTC.
It seems he had spent more than Rs. 30 lakhs to do his MBA at one of these well known British B-schools.

The job market is unlikely to improve much in the next year or two in Europe and US, possibly even in India.

It may be in your interest to think through carefully the pros and cons before you decide to quit your present job and spend Rs. 30 Lakhs or more to get a Foreign MBA.
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To be honest, one of the draws of LBS for me is that the two-year program will allow me to hide in school for a bit longer, which would hopefully allow the economy to recover somewhat. INSEAD in contrast, is going to be a much shorter program, so the risk is that recruiting will start during the downtime. With Oxford at least, I believe the program allows you to do an internship and won't end until September '10, so hopefully that would be enough time for things to improve a little.

With regard to the US and UK market, I know the US market for sure is doing pretty badly. My consulting firm (one of the Big 4 firms) is already offering voluntary severance packages to everyone, even though revenue in 2008 has been stronger (they see the pipeline for this year being worse, though). I'm sure the UK is having problems too, though I'm not sure if it's worse than the US (buffdaddy may know). On the other hand, I think it is easier to get a work visa in the UK as a foreigner, than it is in the US (because of the points-based system in the UK). And the UK is the fifth largest economy in the world, after all.

As mentioned previously, I interviewed with the MBA programme director, so this is a topic we discussed. He confirmed that right now the recruiting situation for the future is mostly unknown, but that he expects to see more recruiters from industry picking up students instead of consulting/banking. He was also mentioning that more students may look at working in regions like the Middle East and East Asia, now. At the same time, he knows for sure that the 90ish% number from before won't be the same this time around.

Are there any current SBS students on the board? It would be interesting to see how recruiting is going this year...
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Hi All,

These days one can't spend an hour without talking about the current economic situation. Whether it be at the dinner table with your friends, or over the phone with a client. The truth is that the fuel driving the global economic crisis is the same fuel that drove the bull markets we had for a few years - Herd Mentality.

I don't think it matters where you are in the world, the economic crisis is here to stay for a while. I can't comment or get into an argument on whether UK is feeling the pinch more than the USA. I simply haven't spent any time in the US during the crisis so don't have any comparison points. What I can comment on is based on personal interactions within my network of people - family ,friends, co-workers, clients, EC compatriots. I interact with these people on a frequent basis and what message I am getting loud and clear is everyone is worried about their respective jobs. Many people in my network have lost their jobs - ranging from civil engineers, recruitment agents, teachers in international schools, administrative staff, not just the consultants and bankers. At the same time, most people are postponing the plans they had for 2009. Everyone is in a mass holding pattern which the government is trying to break out from.

So back to the original argument on whether on should do an MBA at this point in time? I look at it from a "planning and scheduling" point of view. Let's assume everyone on this board wants to do an MBA at some point in their lives. We all think that it will not only help us in the short term but it will help us throughout our careers. In fact I've even heard alums say that an MBA has improved their social skills, their skills in interacting with their kids and even their ability to plan their personal lives. So given this, I am a firm believer that the only way I can invest in myself for the future in this current climate is "schedule" my MBA when there is so much uncertainty out there in the real world.

Is it an overly expensive and risky way to ensure I am challenging myself in this time of uncertainty? Some might say it is. But (yes there is alway a but), one has to be optimistic. Optimism in itself will keep you motivated and help you to be successful and somewhat keep you infront of the pack in the herd. To put a perspective on the comments from pagal guy. I myself assist in hiring people for my firm. Many of those applicants are from India. Similarly to an MBA application, Indians are always over represented in these applications. So by it's many nature, the highest proportion of people who are unsuccessful are Indian applicants. In saying that we have hired many Indians over the last year, and they are fantastic people for our organisation. What made them better than their peers? They had that something extra. Their CVs went beyond numbers and projects, their personalities came through on paper and in interviews. So this has to be true of post MBA recruiting in the UK too.

To conclude this monster of a post, I think given the amount of time you have invested, you should pursue your Oxford MBA. It will be one of the most interesting years in your life and you will be better for it (even with the debt). I end this with a post-war quote from Winston Churchil

"A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty. " - I'd rather be the optimist, it keeps me smiling :-).
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wonderful post Buffdaddy. +2 kudos from me.
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Thank you so much for such a positive post, Buffdaddy!
I'm in high spirits again :)
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Change of plans for me:

I will not apply to Oxford.
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Hi Lumone,

May I ask you about your reasons? Was it smth about the school that inclined you not to apply? (If you're comfortable to talk about this...)
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Long story short:

It's not the school, it's me. Long to explain, and probably not interesting.

I'm retaking the gmat in March, but before that I am submitting an application to HEC Montreal (deadline Feb, 1st).

Congrats to all the Oxbridge admits and good luck for the applicants!
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Thank you so much for such a positive post, Buffdaddy!
I'm in high spirits again :)

Same here! +1

We need to sticky buff's post as a motivational speech before the recruiting season...
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prashok
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Thank you so much for such a positive post, Buffdaddy!
I'm in high spirits again :)

Same here! +1

We need to sticky buff's post as a motivational speech before the recruiting season...


what about taking printouts and getting them framed
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:circle you guys a too kind.
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received the welcome kit from Said. Somehow was let down. ( perhaps I was expecting a bit too much). it has a map of oxford and some brochures. But it harps on payment paymeny and payment at atleast 10 places. There is no talk of any tie up with any bank for a loan.

My subjective judgement: not professional enough to make the first good impact on a student..

what do others think?
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devil420
received the welcome kit from Said. Somehow was let down. ( perhaps I was expecting a bit too much). it has a map of oxford and some brochures. But it harps on payment paymeny and payment at atleast 10 places. There is no talk of any tie up with any bank for a loan.

My subjective judgement: not professional enough to make the first good impact on a student..

what do others think?


Very interesting Devil420,

in my past interactions with SBS, their sales and marketing literature has been really professional. Additionally, their processes in handling queries etc has been top notch as well. So perhaps you can feed this back!
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I'm yet to receive this package... Still in transit :?
But I've not been expecting smth more than brochures, invoice and offer letter. Map is nice, too. After my visit to Cambridge, I got three (!) maps, but I didn't get a single one from Oxford.
And anyways, I'm sure that those who were dinged clearly would have preferred to get no package at all if this only had helped them to secure an admit :)
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