Monday, June 11, 2007

Should you apply to ISB - Indian School of Business

Many Indian professionals, working in US, think of taking MBA at some point in their career. The first reaction of this thought is USD 120K! This is what a typical MBA from a top tier school in US will cost you. Still many of us break the ice and start looking into options. Of course there are benefits of MBA from a US school that can not be compared with other Asian top schools. But, lets look at it from a different perspective.

Choice of your school will largely depend on your goal of staying in US or India after MBA. Though route from US to India is way easier than reverse.

We should not underestimate India for its potential and growth. Investment banks are hiring people with fat packages! That is why I think ISB is an emerging institute with high return on investment. Think of spending just one year and $35,000 and end up in a $100K job in India. Isn't that a good trade? Not only that, but you still have options (though few) to head back to US. Now you are an MBA with no debt on your head.

But, remember that ISB will not fetch you a $150K job in US. Moreover, you will have to struggle as you were struggling before MBA to end up in a good front office job of your choice. Further, most of the states in US, where you may want to finally settle down, do not even know ISB. So, more struggle!

Lets take the other case now. If you do your MBA in US from a top tier school. Your debt at the end is around $100K. It Doesn't make sense to go back to India and join a $100K job in India at this time! You will keep paying your loans for life. So, you stay back for 5 years until you pay your debt. By that time you also secure a high profile position. Now, when you try to move back to India, you will probably have even higher profile and possibly equal, if not more, salary than what you would have had if you were an ISB grad. Sounds excellent, right? Wait...

You have assumed that you will get a chance to go back to India which was at your discretion initially when you decided to stay in US for MBA. Moreover, you are hoping that you will not have home and a car debt when you decide to leave for India after five years. Not only that, your kids may no longer want to go. But, these are all future risks and may not hold true. You can also mitigate them.

So, In my opinion, If you want to go back to India now then ISB is a good choice. But, if you want to and can stay in US for a while or forever, MBA from a US school is certainly a better choice. Again, the route from US to India is easier than reverse.

The comments above are strictly my opinion and you are the better judge of your needs.......
I am back again! Things have changed since my last post. Changed Job, Moved to NYC, Entered into stock trading... one of my favorite pass time. Moreover, now I have started thinking about MBA seriously. Though many questions still remain to be answered, but, I am ready to venture.

First, lets begin with foreign language. With some research and more of my hunch, I decided to learn french. Europe is opening up to the rest of the world and I hope to have good use of french by the time I complete my MBA. Sounds interesting? Lets see...

Next, my English language skills. Man! I really need to get back to my dictionary and start referring and using the words I use to use often. I think I have really lost the touch of writing skills as well. lets see how much I can revive.

Humm... community service! This something that I really have to think about. I am not sure If there is much to back me up. Trying to do something innovative. Lets hope it works out and helps in my application.

I think I can also start looking onto some old MBA essays and start writing something about myself. After all, its so difficult to articulate your five years of achievements and work-ex.