Do I need an MBA?

The following was a comment on the Stanford ding and other updates post. I couldn't resist responding to it and have decided to post my reply rather than leave a comment.

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"I am going to provide a different perspective as a sanity check.

Don't get an MBA. I just finished mine at one of the schools in your blog, and I can definitely tell you that it was not worth the investment of time, money, and the opportunity cost of doing something else with your life. I have a lot of Indian friends that have not found a job (or received a crappy job offer) that graduated. And the benefit of networking and "connections" is helpful, but it is also a lot of hype since your connections are worried about their own jobs.

You can get close to 90% of the MBA experience by going to your library to read a few books on corporate finance, operations, and marketing strategy. And you can make just as valuable connections by joining professional associations."
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Edit: Anon, would it be possible for us to touch base? Please drop me a mail (ashwanthp@gmail.com).
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Thank you for your comment. "Do I need an MBA?" is something that I have pondered over for many months and I can write my longest post yet as the answer. For now, I'll keep it brief. My reasons for an MBA-

1. New Challenges.

2. International exposure and outlook.

3. The networking.

4. Strategy Consulting. Hell, getting into consulting after an MBA is tough. Imagine trying to switch careers without a management degree. However, I don't intend to stick with consulting for too long. I'd like to start my own firm and the consulting stint will help in the preparation.

5. Above all, the BRAND. When I speak, I'd like everyone to listen. An MBA from a TOP school will at least make people stand up and take notice.

It is for these reasons that I have been extremely selective with my schools. The ones that I have chosen are highly reputed and have stood the test of time.

It may be true that the theoretical experience can be gained by visiting a library but I am not sure if professionals like us will have the time to do it. It requires dedication and a sustained effort. I'd be better off learning about corporate finance and strategy for 10 hours a day, in a classroom, rather than 5 hours a week. More so, if my intentions are to make a career out of them.

Yes, you can make valuable connections by joining professional associations but the bonding wouldn't be the same. The levels of commitment would differ. A friend, whom you have spent two years of your life studying with, will be much closer to you than an acquaintance from your "Round Table of Money-makers". I hope you get the difference.

There are pros and cons of doing an MBA but it is a significant investment, nevertheless, of both time and money. It is imperative that you plan well before taking the plunge. I wish you well and hope your friends find the jobs that they desire.

Cheers

Stanford ding and other updates

The big news is that the Stanford admission decisions for Round 1 are out and I, unfortunately, do not fit in their scheme of things. I am not disappointed though. A call from Stanford would have been a bonus in any case. I am, nevertheless, glad that I applied there. Their application process sure did make me think deep and hard and connect with my inner self. I attended the Ross Waitlist Online Chat today. It was hosted by Linda Abraham of the Accepted.com fame and had members of the adcom and current students taking questions. A nice initiative. The chat's transcript will be available online in a week's time. I'll post the link as soon as it comes alive.

Onto other news now. My team and I played in a soccer tournament a little over a week ago. We finished Runners-up. We did bag some of the big individual prizes though. My teammate won the 'Golden Boot' for ending the tournament as the highest goal scorer. Yours truly bagged the 'Best Goalkeeper of the Tournament' award. Then, on Sunday we played Satyam Computers in our first match of a corporate cricket tournament. We won quite easily but I didn't contribute much. Had an off-day. We are playing the State Bank of Hyderabad this Saturday in our first match of another tournament. Hope I score a few runs there.

Moving onto dance - I'll be dancing, with my team, on-stage at HICC Novotel, Hyderabad, on Jan 30th. Will be performing the salsa and the merengue. I'll try and upload pictures of the dance, if possible. Work has been rather hectic. I have a deadline to meet on Jan 30th (yep. same day as the dance). So you can imagine the kind of schedule that I have before me. I am having to balance work, dance and sports but the good part is that I am enjoying it. It has taken my mind off the recent disappointments.

Oh...before I end...did I mention that I am applying to a couple of European schools? More on that in a later post at a later time.

Waitlisted at Ross

It is, at least, better than a ding! More painful though :(.

I have already mailed the adcom that I'd like to remain on the waitlist and be considered for admission this fall. I don't have a choice. I haven't applied to any other school because I was quite confident about my chances at Ross and Darden. Darden, as fellow applicants from India would know, has hardly issued interview invites to Indian applicants - a terrible letdown. News from Stanford, though unlikely, will be a bonus.

The Ross adcom, along with current students who got admits after being placed on the waitlist, will be participating in an online chat (Jan 22nd 1 PM EST) where they will be taking questions from the waitlisted candidates - a terrific initiative. A Google group, for the waitlisted candidates, will be formed after Jan 20th.

It will be good to discuss plans and strategies with fellow applicants. Talking about strategies, I found this blog on one of the forums. It belongs to a current Ross student who converted the waitlist into an admit. Nice read.