Distance MBA?

[anm]

MBAs are supposed to run someone else's business
Asli - agree with the incorrect notation of loss. people make a big figure in mind and then not able to take the plunge due to this mental block.

EMIs/ bills need to be paid for and that's the biggest issue. If some student loan can cover EMIs/ bills too for the period of MBA, that would be fantastic for senior folks

 

[asliarun]

I don't agree to it as you will surely be losing the earning potential of 1 year and that will be whatever is your salary. The other fixed cost like housing loan, fees for kids, car loan will continue as outflow for the 1 year that you are at the business school.



Not necessarily. Not every MBA aspires to be an entrepreneur. I also know of MBAs from the premier B-schools (IIMA and ISB) who are just doing average in their career so doing an MBA from the top B school itself does not guarantee a long term pay-off.

You may not be an entrepreneur after doing an MBA, but you definitely need the same mindset - taking risks, networking, thinking strategically, thinking about revenue and profits, etc. But bottom line is , if you aspirento be a leader in any organization, and if you are too afraid to take calculated risks, it really doesn't sound like the profile that an MBA needs.

Note that I'm not saying this is good or bad. Personally I value passion, hard work, focus, and ability to think long term way more. But the value an MBA adds to an organization is what I mentioned above. Or so I think.

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As far as the monthly cost and outgo you mentioned, I don't know what to say. Now it is getting very subjective I guess. So yeah, if you or anyone else is that heavily under debt that most of your income goes away in paying off loans etc. I don't know what to say. It is a difficult situation to be in.

But even financially speaking, your MBA investment would pay itself off more than 20 times over your future career. Will your house be worth that much?? If not, why would you let your EMI affect your MBA decision? In fact, the MBA thinking would recommend you to sell your house and go "all in" on your MBA even purely as an investment choice.

 

[MZB]

Stay Hungry, Stay Foolish !!!

 

[Santy]

I have interviewed a dozen MBA candidates so far who did full time MBA at A***y university and honestly, none of them were employable at the salary they were expecting.

 

[MZB]

I have interviewed a dozen MBA candidates so far who did full time MBA at A***y university and honestly, none of them were employable at the salary they were expecting.

I have worked with MBA's from premium institute . Both as their Immediate Mgr and reportee . It is so much of fun to work with them.

 

[rikhi22s]

As far as the monthly cost and outgo you mentioned, I don't know what to say. Now it is getting very subjective I guess. So yeah, if you or anyone else is that heavily under debt that most of your income goes away in paying off loans etc. I don't know what to say. It is a difficult situation to be in.

But even financially speaking, your MBA investment would pay itself off more than 20 times over your future career. Will your house be worth that much?? If not, why would you let your EMI affect your MBA decision? In fact, the MBA thinking would recommend you to sell your house and go "all in" on your MBA even purely as an investment choice.

Hi asliarun - can you please elaborate on the "20 times over your future career" part? I spoke to 2 of my college juniors who did full-time MBA after working close to 10 years. As per them, the maximum increment that you can expect is 40% over your previous salary. The 2X increment happens only in your current salary is less than 10 lacs. Additionally, as per them, placement for candidates who have more than 10 years becomes a little iffy as they are not looking for just 'a' job but 'the' job.
On the debt part, I don't want to comment as it is a little personal so one really can't say if it is a bad/good situation to be in.

 

[asliarun]

Hi asliarun - can you please elaborate on the "20 times over your future career" part? I spoke to 2 of my college juniors who did full-time MBA after working close to 10 years. As per them, the maximum increment that you can expect is 40% over your previous salary. The 2X increment happens only in your current salary is less than 10 lacs. Additionally, as per them, placement for candidates who have more than 10 years becomes a little iffy as they are not looking for just 'a' job but 'the' job.
On the debt part, I don't want to comment as it is a little personal so one really can't say if it is a bad/good situation to be in.

Rikhi, an MBA is an initial boost, it won't directly take anyone to the top or even close to it. It gives you a shot at getting into senior management if you can demonstrate the other qualities for a few years. But if you make it, and many do, you reach a much higher salary bracket where your initial MBA loan becomes immaterial.

This was the calculated risk I was talking about.

On a side note, even with a 40% immediate salary increase and assuming no other increase for the next several years, worst case, the so called opportunity cost would be paid off in 5 years for a one year fulltime MBA . Practically a lot sooner if you include bonuses, yearly salary increases, and increased foreign travel.

 

[rikhi22s]

Rikhi, an MBA is an initial boost, it won't directly take anyone to the top or even close to it. It gives you a shot at getting into senior management if you can demonstrate the other qualities for a few years. But if you make it, and many do, you reach a much higher salary bracket where your initial MBA loan becomes immaterial.

This was the calculated risk I was talking about.

On a side note, even with a 40% immediate salary increase and assuming no other increase for the next several years, worst case, the so called opportunity cost would be paid off in 5 years for a one year fulltime MBA . Practically a lot sooner if you include bonuses, yearly salary increases, and increased foreign travel.

You rightly said that MBA will give you the initial boost. Post that, it is 'you' who will decide the fate of your career. 25% to 30% hike can be attained by jumping your job as well. Leaving the thread with the last note which came from my junior who just completed his MBA from XLRI - "Nowadays MBA does not promise you a cushy job or a fat pay package but it will help you in creating a large network of professionals and a degree from a top Institute which may help you in the long run"

 

[GeorgeO]

MBA no longer a passport to a successful career, B-school grads struggle to find good jobs - The Economic Times

 

[GeorgeO]

I think the best educational institutions have their own market, unlike the lower ranked ones. Places like Amity, ILPM and Icfai Bus School(which euphemistically calls itself IBS to confuse people with ISB) are running a business, and their students are buying a degree without( either them or their parents) conducting due diligence. Many of these places spend a huge proportion of the ri revenues on advertising, money that could be better spent on faculty, infrastructure and other essentials. The case of ILPMs shenanigans came under scrutiny in the Economic Times a few months ago.