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For every Jobs (Apple) there is a Donald Trump (The Trump Organization), a Sheryl Sandberg (Facebook), a Warren Buffet (Berkshire Hathaway) and closer to home, an Anand Mahindra (Mahindra & Mahindra). While the list of the former cluster (college dropouts/those without MBA degrees) may dwindle, that of the second lot (influential leaders armed with a global MBA degrees) continues to swell.
Child prodigies like Bill Gates and Mark Zuckerberg are rare and difficult to cultivate using traditional education methods – ask Harvard, they tried! If you believe you belong to their tribe, I urge you not to read ahead. However, if you are contemplating an MBA from a global school, but are unsure about its benefits, read on.
I am a Harvard Business School graduate and founder of a boutique study abroad and career advisory, ReachIvy. Two years at business school, made me dismiss any doubts I had about the efficacy of a global MBA, given the high monetary investment, opportunity cost and time involved..
First, at school I had access to some of the finest minds in the world. My classmates came from various parts of the world spanning over 100 countries including Haiti and Latvia. I had an Olympic silver medalist as a teammate on a business plan competition team once who drove us crazy with his zeal to win! The diversity of classmates was baffling; not once did we experience ‘group think’, making each discussion challenging and engaging. Only an international MBA program brings such an eclectic mix of people together.
This diversity makes for an outstanding cultural and learning experience – a necessity in today’s ‘flat-world’. A globalized world also mandates an understanding of how business is done globally. Global B-schools organize trips across the world for students to learn firsthand from industry leaders and experts. I joined several such ‘learning trips’, joining my classmates in Japan, Mexico and California building strong cross-cultural expertise.
Top global schools become hubs for top global talent – be it students, academicians or guest lecturers. My Professors came from different parts of the world – we had a Chilean Professor who taught us about the debt crisis in Latin America and a Russian Finance wizard who taught us the nuances of a building a robust financial model. The guidance doesn’t end at University. During my 5 year reunion in Boston this year, my professor helped my address a critical professional problem and connected me to another faculty member who is currently advising me with my business. Professors and even Dean have been very accessible; it is quintessentially American to have no barriers between students and faculty.
Moreover, In India, the average age for an MBA is between 21-23 years, whereas in the USA it is 27 years and Europe it is 29. Naturally, my classmates came with rich professional experience, adding significant value to classroom discussions. They were also clear about their career goals by this stage and hence very focused on their industries. My classroom had experts on Private Equity, Consulting, Energy, Retail, Media, Fashion etc. exposing us to a wide range of perspectives.
The relationships you cultivate on campus continue to strengthen over time. Post graduating, each time I confront a business dilemma or consider tapping into international markets, I quickly ping a classmate and immediately reach a resolution. I have access to the world’s greatest minds; they are only an email away. The MBA has equipped me with an extremely supportive professional network in almost every corner of the world. Even on a personal level it is terrific to have friends you can reach out to when traveling abroad for pleasure. I have explored the tiny lanes of Kyoto, sipped the bitterest tequila, visited off beat historical relics and spent several memorable evenings with classmates across the world.
Commensurately, my home aptly has the moniker of an international hostel, as friends stop by from across the globe regularly. How can one put a value to these experiences?
However, if you are looking to evaluate the experience, let me provide a numerical justification as well. A USNews report dated June 4, 2015 mentioned, “Stanford University is the No. 1 business school where graduates are employed within three months after graduation. Graduates who attended full-time earned an average of $129,618.” This is a sharp contrast to $20,000 that Indian postgraduates are offered as starting salary. Therefore, although the Initial investment is higher (top global school average annual cost is approximately $72,500 whereas an MBA from an Indian school costs approximately INR 20,00,000), I suggest looking at your global education as an investment over a longer time horizon.
It has now been over five years since I graduated; I understand and appreciate the value of my degree even more with each passing day
Chart on MBA students starting salary in 2013
The article has been written by Vibha Kagzi.
Vibha is the CEO and Founder of ReachIvy, a boutique educational advisory that helps aspiring students get accepted into top ranked educational institutions globally.
Vibha holds an MBA from the Harvard Business School and a Bachelor of Science from Carnegie Mellon University. She has also pursued courses at the University of California, Berkeley, the London School of Economics and the Indian School of Business.
ReachIvy offer college application resume writing services to aspiring students willing to study abroad.
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