Obviously there have been a lot of news lately about the US immigration policy swings and it’s still not clear where it will actually land, so a lot of people have been asking me about the idea of going to Europe.
In short, I think it’s worth applying. As a good business person, you want to have a Plan B and you want to reduce risk and create as many options and lever as possible, but There are several considerations and trade offs going to Europe you should be aware of:
Pros:
1. The life work balance for working in Europe is much better than the US. There’s obviously a cost to it in the shape of lower comp and higher taxes.
2. GMAT scores are usually less critical in Europe and people with lower scores are considered much more than at the top 15 in the US. This is in part because US schools compete a ruthlessly with each other for rankings and a decrease in average GMAT score would have a significant impact when the schools standing within the rankings
3. European programs are usually also much more open to older candidates so if you are over 30, Europe is a good spot.
4. Things tend to get cheaper compared to the US except of course LBS. But this comes as a double edged sword since a lot of the US schools I’ve said their higher cost with scholarship $$
Cons:
1. As mentioned above compensation is about half of what you would get in the US or even less
2. Work permit is only good for one year vs 3-year OPT in the U.S. Though obviously there’s a lot of uncertainty about the US at the moment so one year in Europe may be worth three years in the US. But under the usual circumstances, the US wins.
3. Recruiting tends to be hard for nationals in Europe. I’ve heard from gmat club people graduating from Spanish and French schools and many of them coming back home to Asia or India. Europe is less of a cultural melting pot and the local language skills that is important for someone recruiting for an NBA level position where you will interact with the local staff and you need to speak the language. Usually this is one of the biggest barriers, which significantly limits availability of jobs. The Soft results in many candidates from French and Spanish schools applying for jobs in London, but since UK is not part of the European Union, they’re one year work permits are not valid in London. I see quite a few people returning to their home countries after graduation and doing well as they have received very prestigious degrees and gains valuable experience, getting enough compensation to cover the student loans, but definitely a different trajectory from what would’ve happened if they had gone to the US. So if one of the priorities for getting your MBA is to relocate geographically, Europe is perhaps less suitable and more risky (in the long run)
4. Scholarships are much less generous and it’s almost unheard of to get a 100% scholarship.
In summary, it’s less competitive but the reward is also much lower due to the reduced risk associated with the lower tuition cost, better working hours and less Rocky immigration policy.
My suggestion would be to consider European programs as an option in case you decide to pick a low risk option but do expect to come back to home country after graduation when you figure your equation. If you’re looking for lower risk and better ROI, it is much better to target lower ranked US programs with a full scholarship. I feel this is a much better risk profile than European programs especially something such as LBS which cost as much as a US program but gives you (on average), much lower upside.
facereut
Hi Everyone!
I have been preparing for GMAT and would like to advice to all the colleges worth applying to in Europe. Is learning a new language a must in most of the places?
Any current student experience will be appreciated.
Thanks in advance!