MBA Crystal Ball

curiosity wrote:Thanks for such an amazing forum.
Please, throw some light on my questions:-

Hi Rahul,

Here's a general article on average costs for MS in US.

You can check US News for details on MS courses, specialisations, rankings etc.

For scholarships, you'll have to convince the Admissions Committeee via your SoP that you are better than most others applying for the course. Here's more about writing a good Statement of Purpose (SoP).

There is no bond to stay back in the US. In contrast, the bigger challenge is to find a job in the US and get work permit sponsorship.

ankshuman007 wrote:I would like to know the difference between Masters in Marketing and MBA (Marketing).

In my responses, I'll assume Masters = MiM.

This article should help: Difference between MBA and Masters degree.

ankshuman007 wrote:Is work experience a must to apply for Masters in Marketing, since I am planning to move soon after grad?

For MiM, it's not a must. However, be aware that it's tough for international students to get front-office marketing jobs due to cultural differences.

ankshuman007 wrote:What's the job prospect (long-term with a view of obtaining PR) for Masters in Marketing in Australia?

I'm not the right person to comment on PR related topics.

ankshuman007 wrote:Which are the best universities in the country for masters (marketing)? Alternatively, is Masters in Management (MiM) a good option too?

Here's the list of the best MiM programs in the world.

Thank you so much for the prompt reply.

By Masters I meant 'Masters of Marketing' in the entire question. Only the last part meant MiM.
Apologize for the inconvenience. Could you please reframe the answer?
Thanks

ankshuman007 wrote:By Masters I meant 'Masters of Marketing' in the entire question. Only the last part meant MiM.
Apologize for the inconvenience. Could you please reframe the answer?
Thanks

Sorry for not being clear earlier. What I meant was that I was clubbing all non-MBA Masters programs (MS, MiM etc that are business focussed and accept freshers) into one category for my answer.

The course names differ across regions. MiM is more popular in Europe, mainstream Masters (MS) programs are the norm in USA.

Hello, thanks for the reply.

May I know the criteria and eligibility for CEMS MiM course at IIM Calcutta? (It isn't mentioned on their website)
Secondly, I've heard many times that BMS cover most of the portion of MBA. Is it true? Would recruiters value students with BMS and MBA degree anywhere (as in less preference)? Is masters a better alternative for us?

ankshuman007 wrote:May I know the criteria and eligibility for CEMS MiM course at IIM Calcutta?

I'm not aware of it, Ankshuman. Better to check with their admissions office.

ankshuman007 wrote:Would recruiters value students with BMS and MBA degree anywhere (as in less preference)? Is masters a better alternative for us?

Unless it's an an equally strong brand (like IIT), recruiters won't care much about the earlier degree. They'll value your pre-MBA experience more.

Masters is a good option for those who don't have experience. However, it's not an alternative to an MBA. They serve different purposes.

Could you give tips on how grad student can start to study for GMAT/CAT/IELTS at home (without coaching)?

And thanks a lot MBA CrystalBall for clearing my previous doubts! You guys are superb! :)

ankshuman007 wrote:Could you give tips on how grad student can start to study for GMAT/CAT/IELTS at home (without coaching)?

Most applicants manage it independently using the official guides and popular test prep books.

For instance, here's a list of the top GMAT prep books most use.

Before I get to my confusion, a quick intro:
I am working in core mechanical product development for the last 2 years after completing my B.Tech in Mechanical Engg (non IIT/NIT).

I am facing a unique dilemma between MS in the US and an MBA in India since I find that I like both the technical side of my job which involves analysis and simulations and the management side which involves coordinating and discussing with cross functional teams for executing project deliverables. I have looked into the financial aspects of both and find that the risks involved in MS are scaring me. I come from a middle class family with modest income and a 1 BHK flat is our only asset with no other substantial savings/investments apart from my father's retirement nest egg.

From what I've read, the avg cost of an MS can go up to 43 lakhs (source: MBA Crystal Ball) and even then there is no job guarantee and even if I do manage to get a job, there is the H1B visa lottery to contend with. If I go to the US for MS, I will have to keep our house papers as collateral for this kind of amount. So I simply cannot afford to return to India with such a big loan on my shoulders.

However at the same time, I see a lot of my friends and former classmates going for an MS to the US. I spoke to some of them and they said that the job market there is currently good, even for Mechanical engineers. I saw several posts on Quora where people who are working in US after their MS were saying that though there is a struggle involved, almost everyone gets a job and hardly anyone they know has had to return to India for lack of jobs (Source:https://www.quora.com/Since-a-huge-numb ... k-to-India & https://www.quora.com/How-difficult-is- ... from-India). I also found H1B holders posting online that they landed in the US even without any funding and did RA/TA or got scholarships and turned out fine. One such H1B holder friend of mine had to spend 10 lakhs in total for his MS since he got a scholarship and subsequently even got a job. I am unable to make up my mind about taking this risk.

As opposed to the risks associated with an MS in the US, an MBA in India looks less risky since I am confident that I can crack a top 20 ranked college. The fees are more manageable and all top notch colleges have almost 100% guaranteed placements. But I am getting the feeling that I may miss out on an opportunity to live the American Dream if I go for an MBA in India.

Please help me with your advice as I have already spent a lot of time just thinking and researching about this. Kindly excuse the big write up

Thanks and Regards

ashutosh525 wrote:Before I get to my confusion, a quick intro:
I am working in core mechanical product development for the last 2 years after completing my B.Tech in Mechanical Engg (non IIT/NIT).

I am facing a unique dilemma between MS in the US and an MBA in India since I find that I like both the technical side of my job which involves analysis and simulations and the management side which involves coordinating and discussing with cross functional teams for executing project deliverables. I have looked into the financial aspects of both and find that the risks involved in MS are scaring me. I come from a middle class family with modest income and a

<<snip>>

opportunity to live the American Dream if I go for an MBA in India.

Please help me with your advice as I have already spent a lot of time just thinking and researching about this. Kindly excuse the big write up :)

Thanks and Regards

Stepping in here Ashutosh525.

The question between MS and MBA is rarely that of 'or'. There is hardly any similarity in terms of career the two can get you. As you already seem to know, one is purely technical (sometimes otherwise but not in the same league) while another is business oriented.

Instead of putting the constraint first (of H1B which is daunting but still ok; check out if you will qualify for STEM), decide your career priorities. Yes, MBA in India would rarely take you outside. The question though is the work content itself. If you like technical stuff, then nothing can be further than doing an MBA.

The costs are high, but student loans aren't super tough to get.

Hope this helps some.

Cheers,