The first topic in our online series of Careers & Conversations was ‘Pursuing an MBA in the US’ with queries answered by NIranjan, alumnus of Babson College, 2012 and is now a real estate professional with Srija Developers and can be reached on twitter at @EecoValley
Here a few highlights from the discussion:
1. Prerequisites for a good university:
- GMAT score
- Work experience
- Recommendations from previous employers
- Bachelors score/grades
- Respective university essays
- Documents/certificates with regards to extracurricular and other activities
- Other docs may vary as per university requirements
2. 16 years of education is not compulsory for most of the colleges. Make sure you go through all the requirements before you apply.
3. Work experience is important and compulsory for all good MBA programs. Having work experience helps you relate to the business world and it would greatly contribute to your classroom learning.
4. It is good to pursue internships before and also during your MBA program. Apart from helping you network, they enhance your own learning and growth.
5. Major criteria for MBA programs at good schools is GMAT score, quality of work experience and how different is the candidate’s profile from the rest of the applicants and how much can he/she contribute to class.
6. The minimum work experience criteria varies from university to university. Good programs ask for 5 years of experience while a few schools also take freshers ( few in the east coast especially)
7. If you are a fresher, you can consider courses like Masters in Financial Engineering, Management Information Systems, MEM etc..
8. Tuition expense may be around 1300$ per credit or the total tuition fee may be around Rs. 60L approx. However, it depends on school, number of credits you chose etc . Other expenses will include living, travel, food, medical insurance, books etc. Make sure you include them when making your financial plans.
9. You can choose your specialisation and subjects after the 1st Semester.
When applying to schools, the MBA admissions team would be very keen on knowing why would you like to pursue an MBA, How would it add value to your profile and how you will benefit by studying at their university. Hence, it will be good to mention subject, specialisation planned in your application process and your Statement of Purpose.
Few Queries from the discussion:
I am interested in Pursuing MBA soon after I graduate next summer. The only experience I have is an internship at Government establishment and work at the startup me and my friends have founded. I'm involved in both technical and business development there. Is work experience necessary to pursue MBA in US? Is it advisable to get startup/corporate experience after graduating and then pursue MBA or soon after graduation? And if I go soon after my graduation, what kind of pressure should I expect?
Work experience is compulsory for most of the good schools. In fact HBS has a program called 2+2, wherein one can apply for their 2 year MBA program in your final year of college and assure a seat after 2 years of work ex. Otherwise, you can look at MBA from other schools that do not require work experience.
It is good to have work experience as it helps you during and after MBA- in terms of relating classroom learning to the real business world.
Your experience of technical/business development sounds diverse- it is good to have diverse work experience in your area of interest..
If you pursue MBA after graduation ,you may experience difference in terms of thought process, relating class roll learning to real world and contributing to the classroom etc. Coping up might vary from person to person.
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