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you remind me of #FAKELUD
on the low chance that you genuinely have a shot at these places, IIMA is much more rigorous but US is more prestigious (also more expensive), have a look at the QS rankings
Buddy, it looks like OP already has a both places if he’s making a choice. No need to have such sour grapes since you have no achievements of your own. Moderator should ideally ban this fool.
Dhan hi sabse keemti h assume karte h to
Dono behtareen university h. Jo scholarship de vaha nikal lo.
Agar scholarship na mile to:
Aap ne Booth chale jaana hai agar US me rehna hai aur finance me career banana h.
Aap ne Yale jaana hai agar US me non-finance me job karni h (also has a higher perceived value outside US).
India me settle hona h to vilayati degree ka kya fayda jab report aap IIM grad ko karoge.
Bhari karz na utha kar padhna h lekin top salary chahiye to aap ne IIMA jaana h agar top international recruitment opportunity convert karne ka konfidens h.
US me job nhi karni ya H1B lottery ka Darr h to mat jaao paraya dhan utha ke.
Pehle se dhanwan ho to fir kis baat ki chinta.
Assuming money is the most important factor, both US universities are top notch. M7 are the best business schools in the world. That being said whichever gives you a scholarship should be the go to school because recruiting and alumni reach are identical except in a few niches.
In case you don't get a scholarship -
Choose Booth if you want to work in finance.
If you want to work in non-finance industry then go for Yale as it has a higher perceived value outside US.
Graduating with crores of debt puts serious constraints on your ability to explore and experiment. So your risk appetite will be very limited unless you pay off that debt.
If you are planning to settle down in India then a foreign MBA is of little use except for the prestige. Prestige doesn't get you a higher pay or quicker promotions. Your manager will most likely be an IIM graduate. Plus that debt will be very hard to pay off with and Indian salary and might throw off your life completely.
If you don't want to take on debt but still want a competitive international compensation (USD 100K+), target IIMA. Keep in mind that such roles are scarce (<10) and you'll be placed in a non-democratic country (UAE; Hong Kong, which I know is not a country; and Singapore).
Also, please keep in mind that working in USA as an Indian is tricky. You're at the mercy of H1B lottery. Companies like Wipro and Infosys fill out multiple sponsorships for the same candidate in every lottery. As far as green card (permanent residence) is concerned, the waitlist for Indians had gone beyond 15 years last time I checked.
Lastly if you're wealthy enough, don't pay heed to this comment.
P.S. HSW is part of the M7.
The only reason for getting a foreign MBA is either to settle outside, or wanting a foreign degree, or having flexibility later in life to work in a foreign country. Foreign degree in India fetches you the same compensation as an IIM degree/diploma. Even with a foreign MBA you will be hired for the same position as an IIM grad. The only difference will be that you'll have spent more than 5x amount as an IIM grad.
There might be some outliers but this is the general trend.
Do not get a foreign MBA if your main priority is working in India.
Never said either IIMA or M7 is better. My point is M7 makes sense if you settle abroad which I have reiterated multiple times. IIM makes sense if you plan on settling in India.
Coming to your ROI point:
In absolute terms, yes M7 obviously beats IIM. Big fkn surprise. Average salary in USA is USD 70K, which is more than Rs. 50LPA. So absolute comparison makes little to no sense. So yeah, one can guess that Harvard grads are probably gonna earn more than IIMA if they settle abroad and earn in USD. Also pls note, there is absolutely no way a fresh Harvard graduate entering the workforce is going to earn that same amount in India. Those big packages are only for the US market.
The specific point of ROI should be considered with respect to the total expenses:
In USA, tuition plus other living expenses at an M7 are gonna run you at least USD 200K and the average compensation post MBA will be around USD 180-220K (Base + joining bonus + performance payout). Your ROI in the first year comes out to be 0.9 to 1.1.
IIMA, tuition plus other living expenses are gonna run 28Lakhs and the average compensation post MBA will be around 30 to 34LPA (Total CTC). Your ROI in the first year comes out to be 1.07 to 1.2.
As you can see the ROI is better in a certain college.
So it boils down to like I've mentioned numerous times before, that the ideal college depends on where you want to work and settle.
Don't admire my perseverance. Just read up more.
Not an expert on competitive exams.
Your point about Raghuram Rajan is fallacious at best. Raghuram Rajan left his teaching job to become RBI Governor. He is an example of a non-conventional post MBA career trajectory. People have different aspirations. If they want to go and earn in USD after an M7 MBA, great. If they want to go to IIMA, great. If they want to go to USA to experience the culture, get the degree, pay off the debt, come back to India and earn in INR, great. If they want to go to an M7 and return to India expecting a higher salary than an IIMA grad, good luck.
Hope the OP got what he's looking for. Imma quit this thread.
You must be the first person graduating from Harvard and coming back to India but earning the same massive US industry standard package.Startups can be opened by anyone, yours is a stupid take with all due respect.
Can't imagine, sorry.
Agreed with the prestige statement brooooo.
You gave me a tip, I'll give you one. Focus on your reading comprehension, you can really use it.
In India (perception value), it's IIMA>Yale>Booth
Booth>Yale>IIM A.
Also, M7>T15>Top European MBA>IIM ABC> Other Tier 1 B Schools in India.
This is a no brainer. What you choose depends on what you can afford... A Ferrari is better than a BMW, it's a fact but what can you afford?
In all the top US B Schools Scholarships and Fellowships are generous( 30-90% of the class). So if you have scholarship anywhere north of 50% simply go, get a part time job, do whatever you want but go.
If you get a scholarship below 50% go but be aware that to repay such loans you have to work in top cities of the world for 5yrs atleast.
The diversity in top us b schools is excellent. You will come across a few ex MBB Engagement Managers, Ex IB VPs etc.
Coming back to India, even an IIM recruiter will prefer a top foreign MBA over an Indian MBA keeping all other things like performance and skills equal.
This is because MBA is pursued for a brand and not for skill, for skills you have zillions of rigorous in depth professional programmes. And there won't be a reason why one MBA guy would be preferred over another, if it was not for a brand.
Ask yourself the following questions:- Why do IIM ABC students compete like barbarians to get a simple student exchange? Why do IIM ABC grads pursue a 2nd MBA abroad after 5 plus yrs or work experience? Why do top Indian B Schools prefer foreign educated faculty?
No ifs and buts we are still in colonial hangover.
An IIM MBA is not even an MBA in India and abroad. It is more of a PGP or MiM.
Top executives abroad itself ,are critical about Indian MBAs.
Getting into a top B School in India is more of a gamble.
That being said you won't find New York level compensations in Gurgaon.
Your progress depends more on your performance.
But a foreign MBA offers more prestige and options.
I see most of IIT grads bagging Indian seats at M7 schools. Off late, I have seen a few NLU grads going for H/S/W MBA. Having researched on various forums like Reddit, my general impression is that M7 schools mostly recruit from elite Indian schools such IIT, BITS and SRCC.
Now I understand NLUs are also elite law programs and command good respect in the country, however, I was just worried if my admission chances would be hurt because the adcoms would probably not be aware of the existence of NLUs in India.
Also, most of us work at domestic law firms. Howsoever good they maybe, but adcoms in US b schools wouldn’t be aware of these firms.
No matter what B Schools tell GMAT is primarily important. 730+ scores for Indians perhaps. Then other scores like GRE, TOEFL etc.
Then quality of work experience. Were you given early promotions, etc. And type of work like were you a corporate lawyer. Amount of work like 3+ yrs.
Then your statements and recommendation letters. I doubt whether adcoms will be unaware of NLUs and firms, they must be having a list of target schools and programmes and they must be aware of NLUs. But things are not as simple as branding.
Your chances infact might increase because you add to the diversity of a MBA programme as a LLB Lawyer.
For now get a Excell GMAT score. Leverage your work exp. Write excellent essays. Get excellent LORs. I don't see anything that stands in your way. Infact foreign B Schools get lesser applications than IIM A.
Look at Satya Nadella.
Look at Shantanu Narayen Haas MBA.
However, if you wish to come back to India, IIMA should be your first priority. While its true that the real asset B-schools is its prestige and cohort you studied with, IIM-A should do finely given the fact that most biggies in biggie companies in India are an alumnus of IIM ABC!
What if you get a partial ride with fellowship in M7>T15>Europe MBAs. These days these types of fellowships are not uncommon as I mentioned earlier. It just depends on your affordability.
And even if you don't get a scholarship working abroad(in top cities in the west) for 5yrs isn't a bad option, but it is not for everyone.
It would also be worth factoring non financial aspects like staying away from family, working in a new culture, adjusting in a new environment also.
Let's take an example, there is one Private Equity opening in Mumbai 2 candidates with identical soft and hard skills. One is from Booth other is from IIM A. Booth MBA is the clear win. There would be 50 other IIM A candidates the firm would have encountered, but a Booth Candidate clearly sets himself apart from all other candidates.
Talking about Indian Big Shots being from IIM A it's mainly because those Indians who go abroad for a top MBA stay abroad and become biggies abroad in global HQs and he will be superior to the Indian IIM Biggies [lots of famous cases]. (99% of the time). Not that a top foreign MBA can't become a biggie in India, for all you know he will become a biggie faster.
But if you are a person short of funds, if you don't have any goals of immediately working abroad for next 5+yrs simply stick to an Indian B School.
Today many senior professionals I spoke with consider an Indian MBA( which is not an MBA in most of the cases) as an Insult even though they get high salaries. Mostly youngsters fresh out of Grad school with negligible experience and skills get into to IIM ABC after a CAT lottery.
What I want to say is Global can any day become local, but a local can't be global anyday. ( deliberately wrote it wrong grammatically).
Ask yourself a few more questions where would a top millionaire, billionaire, industrialist or a top corporate tycoon send his children for an MBA? Even though his company including senior management will be filled with IIM grads.
Why did Indira Nooyi pick Yale? Why is she critical about Indian B Schools?
No offense to IIMs, they have the geographic advantage. But the world is much bigger than IIM ABC. There are much better options.
There are much better work locations apart from Mumbai Bangalore and Gurgaon.
Also when I said that an IIM A should do fine, it was purely out of financial concerns. I'm not actually comparing M7 with Indian B Schools. Also the main question I don't think is answered here is:
Is OP doing an MBA purely for the money bracket, and if yes, a money bracket with respect to where? From my understanding, if OP intended to settle outside India, the choices would have become way easier. While it is true that global has the potential to become local any day, it is also true that the packages that are bagged by IIM ABC grads are mostly top-notch with very little wiggle room (pardon me if there are instances that prove otherwise. Not aware of the same). In this light, IIM A just makes more sense economically.
Pardon me if I came off harsh, but that was not my intention. And could you please elaborate on what OP is? I'm not good at abbreviations.
Apart from money being the primary reason to do an MBA another reason is sheer prestige that is unquantifiable. The hardships too are unquabtifiable.
As far as the packages are concerned I don't see a reason why a top foreign MBA candidate won't be hired in India for the same package. But as I already mentioned one can't expect NY level compensation in Gurgaon.
Hey its fine! Not harsh at all.