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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