IMD Switzerland MBA (1 year)
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Re: IMD Switzerland MBA (1 year)
Post by abhishek » September 11th, 2012, 10:44 pm
Hi Hari
Thanks for the wonderful insight into IMD.
My profile, I am working as Product Manager for a US MNC and has 10 years of exp. Recently appeared for GMAT and planning for apply next year.
My question is even though placement statistics looks quite encouraging, passing out month is Dec which generally is a non-hiring period in Europe( where most of the students get placed). How does it impact incase one is not able to secure a job when course finsihes and are companies happy to sponsor work visa easliy given work restriction to non-eu candidates?
Finally I hope you can provide some insight into ROI given the higher fees cost.
Many thanks again for you time and inputs.
Regards
Abhishek
Thanks for the wonderful insight into IMD.
My profile, I am working as Product Manager for a US MNC and has 10 years of exp. Recently appeared for GMAT and planning for apply next year.
My question is even though placement statistics looks quite encouraging, passing out month is Dec which generally is a non-hiring period in Europe( where most of the students get placed). How does it impact incase one is not able to secure a job when course finsihes and are companies happy to sponsor work visa easliy given work restriction to non-eu candidates?
Finally I hope you can provide some insight into ROI given the higher fees cost.
Many thanks again for you time and inputs.
Regards
Abhishek
Re: IMD Switzerland MBA (1 year)
Post by airvinzi » January 16th, 2013, 2:27 pm
Hello Hari,
Thank you very much for the great service.
I would like to know the financing options to complete this year.
I understand from IMD's website and your post that it requires 120000CHF to complete this program. 60000 would be given from the loan. would we have to shell out the remaining 60000 from our own? Its a whopping amount INR.
What I am looking for here is do we have any other option to fund this other 60000 too, if one is willing to take this 70 laks worth of risk?
Thank you.
Thank you very much for the great service.
I would like to know the financing options to complete this year.
I understand from IMD's website and your post that it requires 120000CHF to complete this program. 60000 would be given from the loan. would we have to shell out the remaining 60000 from our own? Its a whopping amount INR.
What I am looking for here is do we have any other option to fund this other 60000 too, if one is willing to take this 70 laks worth of risk?
Thank you.
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- Posts: 14
- Joined: May 25th, 2012, 4:58 pm
Re: IMD Switzerland MBA (1 year)
Post by baccardisprite » January 19th, 2013, 12:07 pm
Hi Abhishek,abhishek wrote:Hi Hari
My question is even though placement statistics looks quite encouraging, passing out month is Dec which generally is a non-hiring period in Europe( where most of the students get placed). How does it impact incase one is not able to secure a job when course finsihes and are companies happy to sponsor work visa easliy given work restriction to non-eu candidates?
Finally I hope you can provide some insight into ROI given the higher fees cost. Many thanks again for you time and inputs.
Regards
Abhishek
Actually, most of the EU moves in a Calendar Year budgeting, so December is a pretty good month to graduate. Most companies will have their business plans, headcount and hiring budgets sorted out by the middle of the previous year (example, by Q3 2012 for 2013); so any new hires can start by the January of the new year. This is NOT an issue.
The Non-EU restriction is there, but companies are able to secure visas for employees they really want. Non-EU candidates with strong functional experience for the job at hand (for companies wanting to grow globally), along with language skills, and experience - will be valuable to companies. If the company wants you, they will find a way to hire you and get that Visa, or find alternatives like sending you to a diff location while they work on the Visa. You've got to convince the company to want you.
ROI, I could tell you ROI in 4-5-6-20 years, and it wouldn't matter. IMD will cost you about $130-140K in total attendance costs over a year. If you get hired anywhere outside India, you'd average the same figure as a base salary (pre-tax). You'd need to assign about 15-20% of the (annually rising) base figure towards servicing any loan(s), so payback of loan is about 5-8 years. If you are borrowing in India, add a couple of years to the payback to higher interest on your Indian loan.
Hope that helps
Baccardisprite
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- Posts: 14
- Joined: May 25th, 2012, 4:58 pm
Re: IMD Switzerland MBA (1 year)
Post by baccardisprite » January 19th, 2013, 12:33 pm
Hi Airvinzi,airvinzi wrote:Hello Hari,
Thank you very much for the great service.
I would like to know the financing options to complete this year.
I understand from IMD's website and your post that it requires 120000CHF to complete this program. 60000 would be given from the loan. would we have to shell out the remaining 60000 from our own? Its a whopping amount INR.
What I am looking for here is do we have any other option to fund this other 60000 too, if one is willing to take this 70 laks worth of risk?
Thank you.
Yes, the loan figure is CHF 65K now, but is applied against the full tuition costs of CHF 85000. Then you have living costs from between CHF 35000-45000 for a single person or a couple. So a cost of CHF 120-130K, which is about INR 70-75L.
Options
1. Personal savings, I would encourage you to put in about INR 10-12L on your own (about CHF 18-20K); to cover against Indian Loans which will incur >11-12% interest if not more
2. Indian Loans - think these are max INR 20L (so about CHF 33-35K), but I'd try and use the personal savings to minimize this amount.
3. IMD Scholarships - at least 10 of these (out of about 16 available), valued between CHF 25-40K, that Indian applicants are eligible for. This is pretty generous considering the small size of the class.
4. IMD loans - CHF 65K
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While the scholarship is something you can aim for, I would say if you really want to be here, you have options available. Just ensure your personal equity contribution is strong to cover against having to borrow money from an Indian bank.
Another option is a company like Prodigy Finance (www.prodigyfinance.com). Best to write to them and ask if & when IMD is included in the list of schools whose MBAs are eligible for loan funding.
Worth the risk - people take even bigger risk going to Top US Schools, where the attendance costs now routine touch $160-180K + 2 years of lost salary.... so it's all relative.
Hope that helps
All the best
Baccardisprite
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- Posts: 1
- Joined: April 16th, 2013, 9:55 am
Re: IMD Switzerland MBA (1 year)
Post by Priya Choubey » April 16th, 2013, 10:05 am
Hi Hari,
I currently work as business head in liaison office of a German garment brand LERROS. I have work experience of 11 years, GMAT score of 620, and would like to do a one year MBA due to which Europe is the obvious choice. Moreover, IMD has a good name in general management and is industry focused which helps. Since I have worked in the manufacturing side of this trade for quite sometime now, I would like to have the experience and future exposure in buying and sourcing side. I feel MBA would help me achieve this goal and Europe being fashion conscious and hub for a lot many brands, I can have good job opportunities.
Need your feedback...
Thanks,
Priya
I currently work as business head in liaison office of a German garment brand LERROS. I have work experience of 11 years, GMAT score of 620, and would like to do a one year MBA due to which Europe is the obvious choice. Moreover, IMD has a good name in general management and is industry focused which helps. Since I have worked in the manufacturing side of this trade for quite sometime now, I would like to have the experience and future exposure in buying and sourcing side. I feel MBA would help me achieve this goal and Europe being fashion conscious and hub for a lot many brands, I can have good job opportunities.
Need your feedback...
Thanks,
Priya