MBA Crystal Ball

Hi Shantanu,

//What is the reason behind so many students goin on for MBA in india. When i asked one of them, he said there are jobs available in whatsoever specialisation u go for.

I'm guessing your question is not about why Indian students prefer Indian bschools over international. It's more about why the demand is going up, right?

If that's correct, then there are many reasons:

- Basic graduation is no longer a differentiator. Most coveted jobs that pay well ask for something beyond a basic degree. So many feel the need to add an extra qualification.

So far so good. The issue is when that quest for an extra degree becomes more of a quick-fix formality rather than a serious pursuit. So everyone flocks to the thousands of medium-to-low quality institutes to get their 'advanced' qualifications.

I'd think it's less about the demand for (mediocre?) professionals and more about getting a slight edge in the race for jobs.

// But, most colleges are not producing quality degree holders, and if most of their students are getting jobs (although not good), how far are they goin to survive?? In short, how is the scenario in future according to you?

The question to ask the guys who claim they've got jobs:
- What kind of jobs have they got?
- Has the employer even considered the additional skills they bring to the organization?
- Do these guys have any future in the company or is it just a stop-gap solution till they find something that pays a few thousand more?
- Could they have got this job without an MBA?

Unless MBA aspirants start asking these basic questions before they joing any program, the future isn't going to be too different from what it is right now. A small percentage of MBA grads will get all the malai (cream) and the others will look at them with envy and curse their luck.

Hii Mbacrystallball:

yaa you guessed it right...
and true it is just about a slight edge in jobs instead of really
getting deep into the carrer of management. And there is no no point in doing an MBA thruogh a medium (or low) institute just to mention it in your resume!!!!!
thank you for your reply

Hi MBA Crystalball,

I have secured conditional offer in St. Gallen, Switzerland.

Can you tell me how good the college actually is ?

Thanks and Regards,

Hi Vrungupta,

// I have secured conditional offer in St. Gallen, Switzerland.
Can you tell me how good the college actually is ?

I'm afraid we can't help out with this one, buddy.

From their website, the class profile seems to be pretty decent.

Average age: 30
Average work experience: 6 years
Average GMAT score: 683
Number of nationalities: 24

Your best bet would be to check with current students and alumni to find out more about St. Gallen University.

The only other Swiss MBA option that we've written extensively about on our blog is IMD Switzerland.

Hi Crystal Ball Team,

I am on cross-roads at the moment and in desperate need of some advice. Kindly help?

Here is my profile chronologically:
- Metallurgical Engineer from IIT Kharagpur. Was captain of many sports teams and organizing teams (Lots & lots of leadership experience here)
- Worked for 3 years in an investment bank (one of the top 10 investment banks in India). Its a local bank not Bulge bracket
- GMAT Score: 710 (Q50, V36) - Exam taken recently

Here is my major question:
Since January 2012, I have been working with an NGO and have started my own business.I have also been applying for pre-MBA Private Equity Jobs.

Just wanted to ask whether it would be good to project myself as:
1) an entrepreneur since Jan 2012 with NGO as side work
2) As someone working with NGO full time and running my venture by the side
3) Try to look for jobs in PE, and get a job, move there and then apply?

I want to apply in Round 1 this year (Oct 2012). I want to attend an ivy league school.

One more minor question: Should I re-take GMAT? Is 710 too low for an Indian?

My long term goal is to work in a PE or a management consultancy and then start my own firm few years down the line.

Please let me know your thoughts.

Regards,
Desperate MBA applicant

Hi Zing122,

//Just wanted to ask whether it would be good to project myself as:
1) an entrepreneur since Jan 2012 with NGO as side work
2) As someone working with NGO full time and running my venture by the side
3) Try to look for jobs in PE, and get a job, move there and then apply?

You haven't shared what you do at the NGO or what the startup is about. How much progress have you made since you started both? Or for that matter, what you did in your Investment Banking avatar.

The issue as I see it is this. You've had only about 3-4 months in your post Investment Banking role. When you start our applications, you'd still have less than 9 months (as you are targetting Round 1 bschool application deadlines) of work to show in either of those new roles.

The other uncertainty is - are any of your new roles aligned with your Private Equity goals?

If not, no matter what current profession you write in your MBA essays, the bigger query would be - why did you leave the Investment bank for something that you don't see yourself doing after the MBA.

Help me understand this better, buddy.

//One more minor question: Should I re-take GMAT? Is 710 too low for an Indian?

This one is easier to handle. Yes, for the schools and the career option you have in mind, a 30-40 jump could help.

Hi,

First of all, many thanks for your reply. On the GMAT, will try to re-take if I have time.

I didn't include details in the first post, so that I could keep it short. Here's the deal:
- Investment Banking: Worked on and closed deals from multiple different sectors.
- NGO: Have built a platform for underprivileged kids' e-learning (to be launched among 40kids)
- Startup: On my way to starting my e-learning e-commerce website.

I think I can build a story about how I saw deals in the education sector, worked in NGO on developing e-learning for kids and then started my company to make money out of e-learning thing.

Actually, my goal is this: get some operational experience now, leave the company for MBA and let my partners run it. When I am done with the MBA, work for a few years in PE, so that I can build global relationships and get international experience which would help me in taking my company international. My long term goal is to build an international company.

But the biggest problem is, I might not have much to show for my efforts in terms of revenues etc when I apply.

What do you think? Whether this is a plan that would sound compelling to Top 10 schools in the world or I am better off getting a job again in an IB / PE?

Please help!

Regards,
Desperate MBA candidate

Hi Zing122,

//I didn't include details in the first post, so that I could keep it short. Here's the deal:

Thanks for the additional information. It addresses one of the two open questions.

1. Your plan to transition into Private Equity jobs does not raise eyebrows now, as you've already got hands-on experience in managing Mergers & Acquisition deals.

2. The two internet based assignments you have taken up (with the NGO and your own startup), are breaking up the smooth <Mergers & Acquisitions --> Private Equity --> Top MBA> story.

//Actually, my goal is this: get some operational experience now, leave the company for MBA and let my partners run it.

The way startups work are very different from established firms. So the 'operational' work wouldn't directly be relevant for Private Equity (PE) firms. Also, if you are part of the investment team, it'll be more of a financial role rather than operational.

//When I am done with the MBA, work for a few years in PE, so that I can build global relationships and get international experience which would help me in taking my company international.

Be careful in how you project that, as you might be mixing up two different operating models. Taking a startup to the next level would be more of a venture capital (VC) story, rather than private equity.

//But the biggest problem is, I might not have much to show for my efforts in terms of revenues etc when I apply.

True. But the silver lining is, at least you are full time into it. So your story would have more credibility that the thousands of others who talk about starting the big think only after their MBA.

//What do you think? Whether this is a plan that would sound compelling to Top 10 schools in the world or I am better off getting a job again in an IB / PE?

I don't think you should aim for too many career changes at this stage. Even if you get into a PE fund now, you'd face the same issue at the time of applications: very little time to show any real accomplishments.

Continue doing what you are doing and see how best you can create a compelling story about your transition, goals etc.

Hii,

Thank you for your reply. Really appreciate all the help and guidance.

One more query. Apart from my earlier list of US schools, should i also focus on schools in Asia (ISB, NUS). Is it easier to get a post study work visa in Singapore? Do big firms recruit from here? Is it worth applying to UK B-Schools given the visa restrictions now??

Thanking you in anticipation

Barks aka MBA Dreamer..hah

Hi Barks,

//One more query.

My primitive mathematical skills tell me there's more than one.

//Apart from my earlier list of US schools, should i also focus on schools in Asia (ISB, NUS).

ISB you could, but 1 year would finish off too quickly. For the Singpaore based universities, you could wait for a year more.

//Is it easier to get a post study work visa in Singapore? Do big firms recruit from here? Is it worth applying to UK B-Schools given the visa restrictions now??

Big companies come to all the top schools. But getting a job is tougher than getting a visa. not vice versa. So focus all your might in convincing an employer who can then go the extra distance of managing the visa formalities for you.