Posted by - amany2k8 - on 17 August 2012 - 1:44pm

• Posted by - amany2k8 - on 18 August 2012 - 8:00am

  Thanx for the prompt reply..but a doubt still lingers my mind that
  1.If I get a work ex of 3 yrs in Manufacturing (which I'm currently into ) will that After MBA give me a position better than a fresher would get (considering India produces more fresh MBA with no work ex..)
  2.I'm targeting ISB Hyderabad,LBS and other 1 year MBA programs..Is it the right approach or I should go for 2 year MBA programs..?
  3.Considering my finances being quite meagre to afford the cost of MBA program,What should I do to boost my chances of getting a scholarship?

  Reply

  • Posted by - Thomas Graf - on 18 August 2012 - 12:32pm

    Hi there,

    thank you for your questions.

    1.If I get a work ex of 3 yrs in Manufacturing (which I'm currently into ) will that After MBA give me a position better than a fresher would get (considering India produces more fresh MBA with no work ex..)

    This is very difficult to answer. In general, graduates from Master in Management (MIM) programs have no or only little work experience. As a consequence, they find job entry positions after graduating. In other words: They start their career.

    MBA students, in contrast, are people with three, four, or more years of professional experience. Accordingl, they apply for and get offered different positions after graduating - more senior positions, often with leadership or project management responsibility. In other words: They develop their career and receive a higher salary than MIM graduates.

    So, in your case it should be similar. After having three years of work experience you are in a different position than right niw. You have more experience and competence, and you can tell future employers about your successful projects. Accordingly, you will have a different job profile than today and therefore apply for different positions.

    No one will be able to answer whether - in the long run - a MIM now or an MBA in some years will create greater benefits for you. It simply depends on too many factors. Therefore, I suggest you to consider your current career and job situation.

    • If you are happy or reasonably satusfied with it, keep on working, gain experience and finally go for an MBA.
    • If you feel unsatisfied - and usually unsatisfied people will not perform as good as motivated people - than consider a postgraduate education now. Keep in mind that you may still be able to do an MBA in some years - even if you decide for a MIM now.

    2.I'm targeting ISB Hyderabad,LBS and other 1 year MBA programs..Is it the right approach or I should go for 2 year MBA programs..?

    If you resources are limited, I would go for a one-year MBA. In Europe, one year MBA programs are common. In the US, MBA programs typically run two years. In India, I don't know what is normal or accepted from companies. This leads to teh key question: What are your favorite future employers? If you have some firms in your mind, maybe you can try to find out whether they recruit at the school of your interest. Maybe you can even ask them if they have a preference of people form one-year MBA or two-year MBA programs. My guess is that they don't care. More important for them probably will be the reputation of a school.

    3.Considering my finances being quite meagre to afford the cost of MBA program,What should I do to boost my chances of getting a scholarship?

    In general, there are two types of scholarship:

    • Merit-based scholarships are granted because of some extraordinary skills or competencies that someone has. Very often, a high GMAT score (should be minimum of 650) can help you get a scholarship.
    • Need-based scholarships in contrast are granted when a school wants a student - for example because they have too few people from a specific industry background or cultural area - but the student simply does not have the financial resources.

    So, the idea is: Scholarships are not granted without something in exchange. You need to give the school a reason to do so. Hence, the best that you can do is: Reach a good GMAT score (minimum 650). Apply for schools that have a financial aid section on their website and that offer several scholarships. Apply for mor ethan one scholarship if allowed. And do your best infulfilling the requirements (e.g. write excellent essays if needed).

    As an alternative, you could talk to the HR department of your current employer. Maybe they support some of their employees, particularly when they show an excellent performance and need to be bound to the company somehow.

    Best wishes
    Thomas

    Reply

• Posted by - Thomas Graf - on 17 August 2012 - 4:11pm

  Hi there,

  thanks for your questions.

  First of all, an Executive MBA is NOT an option for you right now. This program type is for people with 7, 8, 10, or 12 years of professional experience and several years in a leadership position. On average, these students are 36, 38, or even 40 years old. So, for the moment you can ignore that option - which makes it easier for you to choose. :)

  Your options right now are:

  1. 1. Start a Master in Management (MIM) now or in the near future. These programs are for recent graduates with no or only little professioal experience.
  2. Keep on working a bit more until you have 3 years or more of prof experience and do a fulltime MBA.
  3. Keep on working without another degree; try to move on in your current firm and maybe change the employer after a while. Whether you do a part-time MBA or even an EMBA in the future is something that you can decide in a few years.

  The London Business School (LBS) is one of the most renowned institutions in Europe and beyond. When you ask me whether the MIM program there "is good" I have to answer: Any program at LBS is "good" and definitely also the MIM program. If you manage to get in, if you manage to cover the costs (e.g. you could ask for financial aid), you will profit from a great education, reputation and network.

  This is my personal opinion and I don't know the statistics about how fast the LBS graduates find a job or how long it takes until they have received the full returns of their expenses. I recommend you to contact the LBS career office for that. But the reputation of the LBS is so strong that I take its quality for very likely (if not for granted).

  Best wishes
  Thomas

  Reply