Videshi v/s Swadeshi MBA

With all the time on my hands these days, I can now afford to post twice in one day :)

There has been some heated debate on the ISB group about whether to go for an MBA from the US in these troubled times. I too have sailed in the same boat until last week and can very well identify with the conflict. Having been admitted to UCLA Anderson and CMU Tepper, in addition to ISB, I was momentarily unsure about which option to pursue.

To tell you the truth, this is an inherently personal choice. I had given the GMAT only so that I could apply to ISB. Later, I had to consider the question of what to do if I didn't get in and that's when I started researching US universities. Gradually, I came to respect and admire some of the schools.

Even before I started applying to US universities, I was cognizant of the cost factor involved. Shelling out 60-70 lacs for a two-year course would be a challenge. Therefore, I had divided my applications into 3 categories:

1. "Dream" schools such as Wharton, Sloan, Stanford, where I would have gone irrespective of the cost
2. "Schol" schools where I would have gone if the admission was accompanied by a good scholarship
3. "Safeties" where I would have gone if not admitted anywhere else

As it turned out, I made it to schools falling in Cat 2, but the scholarship did not exceed USD 20,000. For a while, I was elated with the admits. However, when I went back to the basics, I realized that:

• I wanted to stay in India
• I wanted a quick turnaround post-MBA
• I wanted a cost-effective course without compromising quality

ISB seems to fit this bill perfectly. Given the present economic scenario, I'm concerned about the following:

1. Placements: I have heard of students from UCLA, Darden, Tuck etc being unable to find jobs. International students find it difficult anyway since most companies are unwilling to get into the visa tangle and don't always earn close to 6 figures.
2. Internships: For career changers like me, internships play an important role. As companies become cautious, it will become difficult to locate relevant internships, thereby directly affecting my chances of securing the job I want
3. Funding: I don't have any rich relatives in the US. Without any non-co-signor loans being made available by universities (after Citi withdrew the CitiAssist program) and the lack of sizeable scholarships, I would find it virtually impossible to cobble together the required amount. Of course, I could apply to schools like Marshall and Kelley, but the quality of the program would suffer, an option I am not prepared to accept.
4. Visas: The lottery system gives no guarantees of getting a visa after your MBA. Worst case scenario - Come back to India with a HUGE loan on your shoulders.
5. Indian Alumni & Brand Awareness: The strength of the brand and alumni associations in India is likely to be small when compared to ISB and IIMs. The benefit I would accrue is likely to be minimal.
6. Time & RoI: I would be spending the better part of the next 10 years under a mountain of liabilities. Plus, a two year course would be more time consuming.
   

when it comes to plonking for a US MBA. Therefore, keeping all things in mind, I'm 99% certain about going to ISB this year, ahead of other US-based universities. I have spoken to current students, past students, prospective students, professors, directors, industry peers and almost everyone seems to be in agreement with my logic.

As someone on the PG forums put it - ISB, the place to be :)