It is talked of as the land of dream fulfillment, of cutting edge quality, of mega bucks and of life as you want it to be.
Whatever you have heard about the U.S., it's true. And getting an education there is probably the simplest and most reputable way of being a part of the great American dream. It's also eminently affordable, if done the right way. U.S. boasts of top Business schools like Harvard, Stanford and Wharton which are respected worldwide. Information on all this, and lots more, is available here.
A high degree of sophistication, a matchless charm, and above all, educational quality that’s backed by centuries of tradition : the United Kingdom is just the right place to give your career that global edge. In addition to the hallowed Oxford and Cambridge, UK has a large number of other universities which rank among the best in the world like London Business School.
One major advantage of U.K. MBA is its duration which is one year as compared to the two years system in US and Canada. Also, unlike those in other countries, most UK universities recognize the Indian system of 3 year graduation.
If you are one of those who seek a high quality of life above anything else, Canada is the place for you. It has been consistently ranked by the UN as the number one country in the world to live in. Having a large Asian Diaspora of students, Canada offers a truly international educational experience. Furthermore, the Canadian MBA degree is instantly recognized around the world as being of the highest standard.
And you get all this at a remarkably low cost - both in terms of cost of education and the cost of living. Tuition fees for international students in Canada are much lower than comparable countries. Canada may just be the place of your dreams. This site gives you an extensive insight into how you can turn your dream into reality.
Australia has emerged as a popular destination for higher education because of its strong educational infrastructure, a high quality of life, and relatively lower expenses. Australian degrees are gaining increased acceptance in the global arena, particularly in the Pacific rim countries. Institutes like Melbourne Business School have been ranked among the best in the world. A peaceful and relaxed atmosphere, together with the cosmopolitan charisma of cities like Sydney and Melbourne – Australia could be the ideal destination for you.
Combining the benefits of a developed country with the charm of a quiet and peaceful countryside, New Zealand offers some distinct advantages over other countries as a destination for education. An important one of which is the affordability - getting a degree in NZ actually works out to be cheaper than many courses in India.
Another significant advantage is the welcoming nature of the New Zealanders and the relative ease in getting there : NZ has recently opened its doors to students from South East Asia. Getting yourself an education in New Zealand can change your life forever – this site tells you how you can do it.
Which country
should you do your MBA from?
With universities from so many countries aggressively marketing their MBA degree in India, it often becomes difficult to decide which should be your final destination. While considering this, it is important to remember that the presentations and seminars conducted by the foreign universities are purely marketing exercises, and would reveal only the rosy picture about the universities. In such a scenario, it becomes crucial to make an objective assessment of the various options you have. Finally, it has to be your decision, as you are the only one being affected by it. We can help you decide by presenting a few facts, and throwing up the criteria that you ought to consider.
1. Eligibility
This is the first thing to look at. The requirements vary with each university,
and there's always some flexibility in the system. However, the generally
accepted norms are as follows:
| US/Canada | Australia/NZ | UK | |
| Eligibility | Min. 4 yrs education after 10+2 | 3-year graduation accepted | 3-year graduation accepted |
| GMAT | Essential | Not required for most B-schools | Recommended |
| Work experience | Recommended/Reqd for most schools | Essential | Essential |
2. Your
potential
How realistically you can assess yourself counts a lot. With some introspection
and self-analysis, you should be able to pinpoint your strengths and weaknesses,
and decide where you're headed for.
If you think you have the calibre to get
into the top B-schools like Harvard and Wharton, the choice is easy. In
addition to the top US B-schools, you can also consider the best European
schools like London Business School and INSEAD, France. The advantage of
Europe is that you complete your MBA in a year. But of course, it's difficult
to match the might of the Harvard Business School.
A mid-tier B-school in the US is still
better than most mid-tier B-schools in other parts of the world. So if you
consider yourself to be above average but not top of the league, the U.S.
should be your first choice.
If you're just average or slightly below,
and keen on getting a global MBA degree, it'll probably make more sense to
look at options other than the U.S., viz. Canada, Australia, or New Zealand.
Of course, you need to look at the other factors also.
Our ratings, based on our perceptions and experience:
| Business Schools |
Infozee rankings |
| Top 5 Schools in U.S. |
Tier 1 |
|
10-15 ranked schools in U.S. Top 3 schools in Europe Indian Institute of Management (IIM's) |
Tier 2 |
| 15-25 schools in U.S. |
Tier 3 |
|
25-50 schools in U.S. Business Schools in Canada Business Schools in U.K. |
Tier 4 |
|
Other Business Schools in U.S.A. Business Schools in Canada Business Schools in Australia Business Schools in New Zealand |
Tier 5 |
3. Job Prospects
How realistically you can assess yourself counts a lot. With some introspection
and self-analysis, you should be able to pinpoint your strengths and weaknesses,
and decide where you're headed for.
| Australia | Canada | New Zealand | U.K. | U.S.A. | |
| Chances of employment | Fair | Good | Fair | Fair | Good |
| Work Permit | Not so easy | Easy | Fair | For 2 years | Easy |
4. Life after MBA
What you intend to do after completing your MBA has a strong bearing on your
choice of a destination.
If you've decided that you'll stay back
and do a job, you do not have much choice beyond the U.S. and Canada. These
are the only two countries where you can get unconditional employment.
However, getting a job is not always easy.
Getting a work permit in Australia is very difficult.
The UK has recently allowed international MBA students to work there for a
limited period of two years provided they get a job.
If you're keen on coming back, or have
certain obligations (like a family business) which compel you to return, you
could choose any of the countries that best suits your budget, time, and
temperament.
If you are undecided on this, U.S. or Canada are still the best choices. You get the opportunity to work there, and can always return if you so wish.
5. Cost
The tuition fees may vary greatly depending on the institute. We here compare
the approximate average expenses of doing an MBA in various
countries.
Cost Figures in Indian Rupees (Lakhs)
| Australia | Canada | New Zealand | U.K. | U.S. (Public) | U.S. (Private) | |
|
Tuition Fees (full cost) |
6.15 | 9.30 | 6.00 | 6.15 | 10.35 | 19.35 |
| Living Costs (annual) | 3.20 | 3.10 | 1.40 | 3.70 | 5.40 | 5.40 |
| Duration | 12-18 months | 18-24 months | 12-15 months | 1 year | 2 years | 2 years |
| Total Cost | 10.12 | 15.50 | 7.75 | 10.15 | 21.15 | 30.15 |
|
Note:
For the
latest conversion rates, Check out |
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6. Life, as
you see it
For many people, this is the bottomline. We've known students who've chosen New
Zealand over anywhere else, because they wanted a "relaxed" life. However, this
is totally a matter of individual perception. Doing an MBA in the U.S. or U.K.
is quite a demanding and strenuous proposition, whereas the scene in South
Pacific is quite different. The choice is yours!
SUMMARY
The table below ranks the "hot destinations"
on various criteria, with "*" being the least favorable and "*****" the most
favorable. These ranks are based on our own perceptions, so may have an element
of subjectivity.
| Australia | Canada | New Zealand | U.K. | U.S.A. | |
| Quality of education | * * * | * * * | * * * | * * * * * | * * * * * |
| Job scene in same country | * | * * * * * | * * | * * * | * * * * * |
| Cost | * * * | * * | * * * * * | * * * * | * |
| Admission process | * * * * * | * * * | * * * | * * * * * | * |
| Immigration / job permit prospects | * | * * * * * | * * | * | * * * * * |
| Quality of life | * * * * | * * * * * | * * * * | * * * | * * * * |
| Case Study: Aman Gupta's story on how he made it to Wharton |
| This story is meant to describe the MBA admission process in the U.S. The name of the person, and some facts have been changed to conceal the identity of the person. |
Aman Gupta's
story on how he made it to Wharton.
(This story is meant to
describe the MBA admission process in the U.S. The person was an Infozee client
and got an admission in a top school in U.S. The name of the person, and some
facts have been changed to conceal the identity of the person.)
Two years
earlier I wasn't sure if I wanted
an MBA at all. I was enjoying my work. My job required me to travel and I was
always on the move. Each of my projects lasted for not more than a few months,
and I moved on to a different country for every new project. Life was fun and
the money was good too.
But then I met a friend and that meeting changed my life. I decided what I
wanted to do next, I wanted to take up an MBA and experience the learning to be
a business leader in the future.
In the following pages I
share with you my experiences in working towards an MBA in one of the top
business schools in the world. It can be a tough ask, but once I decided to go
for it and knew that the returns were worth a few sacrifices the journey became
exciting too.
The applications can be very thought provoking. I learnt so much about myself
while writing my essays that I seem to be a better person because of it. I know
much more about myself and get a feeling that I'm more in control of what I
want.
I'm sure my story will help others like me who are either on the crossroads and deciding to take the plunge, or are already into it and need help on some specific issues.
Deciding to apply
I passed out of REC Suratkal
in 1995. I was a good student and considered my ability to apply my learning to
real life situations as my greatest strength. I got an opportunity to work with
TCS immediately after college. It was a dream job for me and I was excited.
The excitement continued when after two years at office, I started handling
onsite projects at different locations in Europe and U.S..
My bosses at TCS also appreciated my work and I was seen as one of the bright
guys with a great future in the company. My earnings were always on the increase
and so were my responsibilities at work. The toughest and the most challenging
projects were given to me and I didn't let the company down.
In one of my visits to the U.S., I met my elder brother's friend to hand over a
packet of goodies from his mother. I visited his place for Lunch that Sunday
afternoon and I thank god I made the effort to go that day.
Vivek ran his own Management consulting and training firm out of Milwaukee,
Wisconsin. He was the expert in understanding the 'people' aspect of business.
He was alone that day and on my request agreed to discuss my career. We spent a
good three hours after lunch and here is what we discussed after he understood
what I was into.
Vivek: How ambitious are you?
I : I want the best things in life, want to be very successful at work,
and as I have recently concluded, I want to be the best at what I do. I get the
kicks from doing things which I myself didn't know I could do.
Vivek: How long do you think you can continue getting the kicks in your
present job?
I: I'm not so sure. As of now the traveling gives me the kicks.
Finishing my projects before time gives me the kicks, surprising my customers on
what we as a company can do gives me the kicks. I don't think it will stay this
way for ever. But I guess I will evolve and learn to do other things that will
keep offering me the kicks.
Vivek: What about
your job responsibilities? How have they changed over time?
I : When I started, I was assigned projects to work on, I only worked to
meet my targets and rarely looked outside of what I was supposed to do. I had a
deadline and objectives to meet. I worked day in and day out, trying to complete
my job.
Now, its not just my efforts that I'm concerned about but that of my team
members as well. I plan the over all project execution, know about the
individual capabilities of my team members and utilize their skills to achieve
project objectives. I spend time with my team members, help them build skills
that they lack.
I also work hard planning my meeting with my bosses. I tell them about where I
see opportunities in the future, how we can exploit them, how we need to prepare
and what extra skills need to be built. I particularly enjoy this aspect of my
work and take it rather seriously.
Vivek: Do you have any fears right now about the work you are doing.
I : I would like to believe that I don't, but there are some.
I look at my bosses operate and I'm not so sure if I'll be able to be like them.
Shoulder responsibilities the way they do. I try to put myself in their shoes
and the feeling is not very comforting.
I also get to interact with the senior management of our customer companies, and
some of the people I work with are brilliant. They are able to consider all
angles at the same time when taking a decision.
Hearts of hearts I know I want to be like them but fear if I will be able to
make it.
Vivek: Where does the
fear lie, in you being able to manage technical work as the stakes get bigger or
manage the managing aspect of work?
I : The managing aspect of work. I was used to working on a project and
closing my eyes to the rest of the world. All that mattered was the work I was
into. But things have changed now. I require to put my efforts into much more. I
have changed a lot already, but I know I have to change much more to reach the
level I aspire to.
Vivek: You certainly need to keep changing to meet the new demands of
your work, but I guess your answer lies in building skills you presently lack
and focus on learning things that you think your bosses have and you don't.
Things that you wish you possess when you are in your boss's shoes.
I: I guess you are right.
Vivek: Those things that you are referring to are called 'management
skills'. Every one needs them more and more as they move up the ladder. Go get
yourself a management degree, Aman.
This convinced me that I needed an MBA and I decided to go for it after that day
Scheduling
I spent about a month
collecting all the information I needed about getting an MBA in the U.S.A. It
wasn't just an MBA from anywhere that I was aiming for, I wanted the best degree
on offer to set me up for a great career ahead.
These are the notes I referred to when making my schedule. I will not share my
schedule because you ought to make one that suits your needs.
Tests:
- I need to register for a test date. GGetting test dates can be difficult
during the peak periods between June to January. It's wise to register at least
three months in advance.
- I need to request GMAT and TOEFL bulletinns which can be requested online. I
have to keep a month to get the forms, get a dollar draft made and send the form
to the required address.
Start the test registration work at least four months before the test date.
- Immediately familiarize myself with the ccontents of the tests and set my self
a target score so that I can schedule how long I need to prepare before taking
the tests.
University application deadlines:
- Universities have about two deadlines forr international students. The first is
somewhere between October end and early December for most good universities and
the second between January and March. It's better for International applicants
to apply before the first deadline as it improves their chances of admission.
- Universities would want my applications ccomplete in all respects before the
deadline. This includes the GMAT and TOEFL score reports, which may take about a
month to reach the university after I take the test.
So, the test registration work should start at least five months before the
university's first application deadline.
Preparing documents to accompany my application:
I need to submit the following documents -
1. School and college mark sheets (called transcripts) - Some universities issue
official transcripts in a format required by U.S. Universities. Otherwise,
photocopies signed and attested by university registrar or Principal works
alright.
I would need to visit my university for this.
2. Recommendation letters - I need to identify people I know well and who will
be willing to spend time in writing my recommendations. Most universities have
their own formats of recommendation letters. I must send the format and request
for recommendations at least three months prior to university application
deadlines. I have to start speaking to my recommenders immediately.
3. The GMAT and TOEFL score reports have to be sent directly through ETS (the
company that conducts the tests). I can name five universities at the time of
taking the test. I need to decide the universities I have to apply to before
taking my GMAT and TOEFL. In case there are more than five universities I wish
to apply to I must fill out the additional score reports form in the GMAT
bulletin (The booklet I use to register for the test). I have to do this
immediately after I take the test. Probably send out the request the day after
taking the test. I need to get a dollar draft made or use a credit card to make
payment for test registration and additional score reporting.
4. Financial documents like a bank statement and Affidavit of Support need to
accompany my application. Bank statement must be got from a Bank where my
sponsor has an account showing funds to support my expenses during the period of
study. Affidavit of Support is to be made on a legal stamp paper showing that my
sponsor will fund my tuition and living expenses for my study.
5. Essays take time to write. I have to download university application forms as
soon as they are available, get familiar with the essay questions and set aside
at least two months to write essays.
6. Finally, the documents have to be couriered to the universities, I have to
keep at least 15 days for the courier to reach the universities after I dispatch.
Working on applications: Universities release their applications by the
month of June or July for the preceding year's Fall semester intake. I have to
start downloading application forms as early as I can, probably by July.
Short listing universities: I have to decide where to apply by the same
time, by about July end, so that I have enough time to prepare for their
applications.
The above information
allowed me to set a schedule which I followed successfully.
There are activities to be completed after sending out applications, you would
be in the groove to handle them as they come.
Taking the tests
The top schools require
applicants to be good at everything they do. So, they expect them to have good
scores.
I was told a 720+ is a bare minimum in the GMAT if I'm targeting the top-10
schools. I set my self a target of 760, and got a 740. I made sure that no
school rejected me for a low GMAT. I know now that a high GMAT cannot get one an
admission on its own. But a low GMAT can get one a reject on its own.
I started my GMAT preparation by taking a practice test. I analysed my
performance and I identified topics which made me feel uncomfortable. I used the
course content of the Crack-GMAT prep package as my syllabus. I referred to the
Crack-Gmat course and also studied from the Kaplan guide. I also took the ETS
tests along with the Crack-GMAT tests.
I spent two and a half months, studying about four hours every day after office.
I kept the Saturdays and Sundays to analyze my progress and identify weak areas.
The math section was easy for me. I had to work harder for the the verbal and
comprehension sections and practice was the key in these sections. The Crack-GMAT
tutorials are rather good in this area. The reasoning section is good too.
I attribute my score to all the analysis I carried out about where I need to put
that extra effort. If you are targeting 650, you don't need to do much, just
study the material with you and go for the test. But for a 750, you need to
really take care of the finer points. This requires identifying areas where you
are likely to make a mistake and brushing every single concept in that topic.
TOEFL was easier. Frankly, I didn't spend too much time on it. Picked up the
Barron's guide and a CD that a friend handed over to me.
Selecting Universities
There are three factors that
influenced my selection of universities to apply:
1. Craving factor: Top Schools.
2. Sanity factor: Which ones fit your long term career needs?
3. Safety factor: Where can you get in?
I was told to consider each of the above factors before selecting the final list
of universities to apply.
I chose:
- Harvard and Wharton as I wanted to be in one of these schools.
- Thunderbird and Moore because I wanted Innternational Business.
- Vanderbilt and Carnegie Mellon, as I was told that I would get one of them.
I got Wharton, Thunderbird and Vanderbilt.
I think that had I not got Wharton, Thunderbird and Vanderbilt were good schools
to go to.
But believe me this Craving/Sanity/Safety theory is a handy one to use when
selecting your own set of schools.
While selecting on the basis of the sanity factor, all the research you do to
find schools for your needs, comes in really handy when you answer, "Why you
chose our school?" question for your essays.
Writing Application Essays
As I look back this was the
best part in the whole exercise of applying for admission. It seemed difficult
before I got into it. But while I was working on the essays it allowed me to
visit parts of me that were previously unexplored. I'm a better person because
of it and know myself much better.
I started by addressing these questions which I found on Infozee. They were very
useful in getting me to think in the right manner.
Write down all your past accomplishments - academic, extra curricular, social contributions, sports - whatever you've done well in life. Also write down all the things that you feel or care for strongly.
What is it that you want to do in life? What is the career you want to choose for yourself in the future and why?
Write down the area that you want to study further in. How will taking up this course of study help you achieve your long term career goals that you described above?
Now, write down why should you have the life that you want? Why should you get all the things you listed above? What qualifies you to have all the success you desire.
Once I completed this initial exercise, writing answers to the essay questions of almost all schools seemed extremely easy.
Recommendations
The first question I had
about getting recommendations was that since it is unlikely that the university
will contact my recommender, why shouldn't I write my own recommendation and
have it signed by some one senior at office?
I researched at my end and found that:
- My recommender is likely to receive a thaank you note from the university.
- Admission committees who read applicationns day in and day out can figure out
if the recommendation is authentic, 4 times out of 5.
- An honest recommendation, assessingg you objectively, even highlighting some
points about you that may not be very positive, hold more value than a self
written recommendation that shows what a great person you are.
I however did take time from my recommenders to discuss my career till now. I
highlighted to them points I was planning to project through my essays. For
instance, I wanted one of my recommenders to focus on my communication and
interpersonal skills. I gave her a brief describing the presentations I had made
to my customers and the feedback I got from them, about my ability to look at
difficult situations objectively and to keep my bosses and my team members
informed about my understanding on the situations. About the relationships I had
built with two of our customers who had informed me of their future projects
even before they officially approached companies for proposals.
So, even though they wrote my recommendations on their own, I was able to
influence what they should write.
To allow them to make an honest assessment and write what they wanted to, I had
asked them to seal the recommendations and hand them over to me. I then sent the
recommendation without knowing what they had actually written.
The strategy seemed to work for me, and I believe it should work for every one.
Almost anyone will also tell you that it doesn't matter who your recommender is,
just make sure the person knows you well. Only then will he/she be able to write
about you in detail. There's no point getting a recommendation from your
Managing Director if he doesn't know you well. If your General Manager has
worked with you and knows you well, his recommendation has more value than that
of your Managing Director.
Financing my MBA
When I thought in terms of
Returns on Investments, spending Rs. 40 - 50 lacs in two years wasn't a bad
decision at all. I would recover this money in no time after I graduate. But
still the money needed to be arranged, and it's no small sum this. I almost
laughed out when I was told that I'll have to show this sum in my "SAVINGS BANK
ACCOUNT" to get a visa. Even if I had this kind of money why would I keep it in
a savings account?
But, like any other problem in life, I knew there was a way around it waiting
for me to discover it.
I knew I could do one of the following:
- Get a loan from a Bank in India, but thatt's only for a maximum of Rs. 15 lacs.
- Apply for a scholarship, but then when yoou are aiming for the top schools,
getting an admission is big, leave alone a scholarship. I had heard that it was
nearly impossible for international students to get a scholarship. Some of the
top schools do consider international students for scholarships, but these are
purely based on your application and are not need based. You compete with local
U.S. applicants for a scholarship.
- Get a loan from a bank in the U.S., but tthat would need co-signing by a person
in the U.S.. Technically it's the same as borrowing the money from the person in
the U.S., it's that person's responsibility to pay back and not yours.
- There are some top schools which have arrrangements with banks in the U.S. who
offer loans even to international students without a co-signor, based on their
admission. Wharton has a loan like this. Its very convenient one doesn't have to
repay till six months after graduation and it takes care of almost all expenses.
More importantly this loan also can be used to get a visa.
There are some other universities also which offer the loan facility to
international students based on a co-signor in the student's home country.
However this loan cannot be used to show expenses for obtaining a visa.
The best bet for you is to wait for admission and speak to the international
office in your university, who will be able to help you with the available
options.
And remember there's always a way out. I haven't heard of any one who got
admitted to the top schools but was unable to make it because of his inability
to finance the expenses.
Just go ahead, get an admission and your options will reveal themselves to you.
Keep this issue in your mind, but don't let it bog you down.
Getting my visa
There are two aspects I
needed to convince the visa officers about when being interviewed.
- I have the necessary funds to finance my study
- I'm not a potential immigrant.
The first was not a problem for me. I had a loan through the university which
was considered proof for my ability to pay. But the loans offered through other
universities (other than Wharton) are normally not considered by visa officers.
You have to show funds for at least one year of all expenses in your savings
account and sufficient financial ability to generate funds for the second year
of study.
The "potential immigrant" bit is a little difficult to understand. One's
supposed to provide reasons for returning back to India after study. But most of
us will not be returning home, at least not immediately after completing the
course. So, what makes visa officers offer visas to so many of us?
That we're not returning home may not actually be a secret, the visa officers
probably know about it. Knowing this, there job may actually be to select
students who they may not mind having around in their country, working for their
companies.
While this theory may or may not be true, you have to go for your visa with a
convincing story about why you would want to return back to India after
completing your course. So, put on your creative caps and think of an original
story that will compel the visa officer to offer you the visa.
Of course they will not take you on face value, you need to take financial and
other documentation to make your story convincing.
Preparing to leave
After I had listed things to carry and booked my tickets I wanted to get my self to understand what I was getting into, one of the most important phase of life. ,