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Thread: MBA in the US

  1. #1

    MBA in the US

    If anybody needs any guidence/help on MBA in the US, most welcome. I am currently pursuing my MBA from the Univ. of Texas at Austin.

    You can reach me at anurag.kadyan@mba04.bus.utexas.edu

    Cheers
    Anurag

  2. #2
    Dear Anurag
    It's great that u are pursuing MBA. I am an engineering graduate and presently working in India. As a part of my career objective I am very much intrested to pursue MBA. I need ur help in this regard, but the same time I have to adjust with my economic constraints too.

  3. #3
    Hi Satyaveer,

    I am glad that you are thinking of pursuing an MBA. If you are planning to pursue it in the US, then the need for finances depend on what kind of schools you want to get into.

    Most of the schools in the top 25 rankings are very costly ($65K-$110K) and donot have enough financial aid for international students. Some schools in the top 10 bracket like Stanford, Michigan, etc have tie up with banks which give loans to international students without any guarantee, and that too upto the total cost of education.

    But if you wanna go into 2nd tier schools, there are a lot of chances of getting financial aid. I know Vivek Rattan who is doing mba from Baylor University here in US and is getting full aid.

    I hope this helps. In case you have any specific issues, i will be glad to address them.

    -Anurag

  4. #4
    Hi Anurag,
    I am Viraj and i was interested in knowing the kind of expenses invloved in a MBA course at UT, I have been working from last 7 years..what are the options for the family in austin while i do the MBA.

    Regards

    Viraj


    Anurag Kadyan (Oct 16, 2002 09:36 p.m.):
    If anybody needs any guidence/help on MBA in the US, most welcome. I am currently pursuing my MBA from the Univ. of Texas at Austin.

    You can reach me at anurag.kadyan@mba04.bus.utexas.edu

    Cheers
    Anurag

  5. #5
    Hi Viraj,

    The cost of education in UT is as follows (per annum):

    Tuition & Fees: $25K
    Approx Books & Laptop (one time): $4K
    Approx Living (bachelors): $10K

    As far as family is concerned, I can ask other people who have moved their families to Austin, send me your specific concerns on that issue.

    -Anurag

  6. #6
    Daki roz nayi photo padwa se ke. pichle bar koi aur thi eb koi aur. chal have fun

  7. #7
    Thats a good spirit. Keep up the good work.

  8. #8
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    Hi Anurag ,

    That is a great spirit ..very helpful and nice..

    Best Regards
    sandeep

  9. #9
    Sabhi Jat bhaiyo,Bahno ko ram ram,
    I am also doing my MBA in US just 90 miles from Anurag saab, Aur apne kisi bhi bhai ko agar mai kisi tarah se help kar sakta hun to mujhe badi khushi hogi.......I am baylor university, Texas, (its one of those rare universities which does give funding to international students in MBA).
    Take care
    friend
    vivek rattan

  10. #10
    Dear Vivak ratan & ANURAG
    This is good news.
    Can you give me more information about funding & admission to MBA in this university.

    Cheers
    Jay Jawan Jay Kisan Jay Shaheed

  11. #11
    Dear Dudee ji,

    In the top 20-25 ranked business schools, it is very difficult to get any financial aid or scholarship. But there are a few schools in this list like stanford, univ of michigan, Univ of North Carolina, Wharton, etc, who have tie up with banks. These banks give full cost of education loans to international students without any co-signer or guarantee.

    Then rest Vivek can add to it.

    -Anurag

  12. #12
    A recent article in BusinessWeek paints a gloomy picture for International Students in US B Schools. Posting it here as it is not accessible to all through their site.

    -Anurag

    The article follows:

    ------------------------------------------
    Yanking the Welcome Mat for Foreign MBAs
    Suddenly, they face big obstacles in the U.S.
    -------------------------------------------

    Alberto Fumo is the type of student business schools crave. His high marks and international experience landed the budding financier admission offers at Yale University's School of Management and Cornell University's Johnson School. But the Italian native chose London Business School rather than face a new trifecta of trouble with a U.S. MBA: an imminent drop in work visas, a hiring slowdown for MBAs, and less school financial aid.

    After a decade-long buildup of overseas applicants seeking the prestige--and salary--of a U.S. business degree, B-schools are concerned about the growing wariness of others like Fumo. In the 1990s, international students became the fastest-growing pool of prospective MBA students, helping push total applications to record highs in 2001. Now, in short order, the weak economy, coupled with a looming drop in the availability of H-1B work visas, is taking its toll. International enrollment at BusinessWeek's Top 30 schools slipped from 32% in 2000 to 30% in 2002 and is estimated to go lower yet in 2004. The ultimate concern for U.S. B-schools is the new unwelcome mat driving away the world's best candidates. "What is that going to do 10 years from now to the talent pool?" wonders Vijay Govindarajan, strategy professor at Dartmouth's Amos Tuck school.

    The pipeline may get a lot thinner soon. In October, 2003, a law increasing the number of H-1B visas is set to expire, chopping available H-1Bs from 195,000 a year to 65,000. The business lobby is poised to fight to maintain the number, but with the economy soft, it's likely to be an uphill battle. While MBAs would still make up a small portion of the allotment, if all visas are issued before students get to commencement, jobless foreign grads will have no choice but to head home.

    That's if they get here in the first place. Admissions officers urge foreigners to apply early to cope with delays in State Dept. background checks. "There are some places in the world where we have special concerns," says a State Dept. spokesman. Europeans have reported little trouble; applicants from the Middle East and China can expect tie-ups.

    Massive debt, which can exceed $100,000 at top private schools, is also a problem. Repayment is a high hurdle if you hail from a country where $5,000 is a good yearly wage. They're not supposed to say so when they apply for the student F-1 visa, but many foreign students--especially those from developing nations--plan to stay in the U.S. after graduation to help pay down their debt. But suddenly, staying stateside is far from guaranteed. Companies with tight budgets and hiring slowdowns are beginning to cut down on hiring non-U.S. candidates. It can cost upwards of $10,000 in administrative expenses and legal fees to sponsor one foreign applicant through the visa process. And since September 11, there's no guarantee the recruit will be approved by the Immigration & Naturalization Service.

    Already, at the University of California at Los Angeles' Anderson School, only 15% of companies recruiting on campus say they'll consider a foreigner. Many consumer-products outfits--like Johnson & Johnson (JNJ ) and Procter & Gamble Co. (PG )--that recruit generalists are sticking to U.S. hires. "Those types of positions would be very difficult to bring in" on a visa, says David Wittenberg, director of investment evaluation at Weyerhaeuser Co. (WY )

    To make matters worse, B-schools have become less generous with loans. At the University of Virginia's Darden School, loans given without a co-signer will be capped at $34,000 a year, covering only tuition. As its default rates rise, University of Pennsylvania's Wharton School, long considered among the most generous to foreign students, also capped loans and upped interest charges this fall.

    The changed climate has made foreign students even more anxious in a tight job market. One student at Darden found that most consulting companies wouldn't consider him for positions in U.S. offices. He recently sent out about 25 résumés for summer internship positions and is still hopeful he'll get one. "I wouldn't be able to pay off my debt if I had to go back to [my home country]," he laments.

    B-school deans across the country are crossing their fingers for an economic turnaround. Otherwise, they'll watch a decade's worth of work recruiting foreign students evaporate. "If this happens, we are the losers," says Govindarajan. It would be a setback felt around the world.
    ---------------------------------------

  13. #13
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    Hi all...here is an article that was published subsequent to a controversy regarding value of MBA programs

    Value of MBA Questioned, Journal article argues advanced business education doesn't pay

    BOSTON -- These should be heady days for American business schools, with more than 100,000 new students arriving on campus, eager to sit out a weak economy and emerge from the cocoon two years later with a fattened salary.

    But despite the strong demand, some MBA programs are feeling uneasy about a new article by two researchers at Stanford's Graduate School of Business who call into question the value of the degree.

    Surveying decades of research, Jeffrey Pfeffer and Christina Fong argue that, with the possible exception of the most elite programs, master's degrees in business administration teach little of real use in the business world. They say the degree has little effect on salaries in the long run.

    The article has provoked a public relations counterattack from some in the multibillion-dollar MBA industry who bristled at the wide-ranging critique, which appears next month in the debut issue of the journal Academy of Management Learning and Education.

    Pfeffer began looking at the value of MBAs in the mid-1970s when he was at the University of California at Berkeley, said Jack Brittain, dean of the David Eccles School of Business at the University of Utah.

    "He was my MBA adviser at the time. And what he found was that a person's social background and the wealth of their family played a role in helping them succeed in business," he said.

    But what a good quality MBA program does is provide those who do not come from that kind of background the knowledge to play the business game, Brittain said. "It helps open doors that otherwise wouldn't be open."

    The Pfeffer/Fong article lays into everything from a mollycoddling teaching culture to an outdated curriculum. It also questions whether the explosion in the popularity of MBAs has diluted their value. In 1956, only 3,200 MBAs were awarded; today that number has grown more than 35-fold.

    At the University of Utah this year, enrollment in the business school's four MBA programs is up 25 percent over last year.

    The article even notes that 40 percent of U.S. chief executives mentioned in a Fortune magazine article called "Why CEOs Fail" had MBAs. And the researchers cite one report that characterizes life at one top business school as a two-year networking and bonding ritual.

    "Obviously, all MBA programs are not equal," said Jim Stice, director of Brigham Young University's MBA program. "You can find an MBA program on the back of some matchbook covers."

    At BYU, many of the students enter the MBA program seeking the opportunity to change careers, Stice said.

    "They are not necessarily trying to get a boost for their existing careers. And it is our goal to help them develop that new skill set they need to go out and make a difference in their own lives and their communities," he said.

    Students can take on as much as $100,000 in debt to pay for a two-year program, the article notes.

    In response, the Graduate Management Admission Council (GMAC) sent out results of a study showing U.S. MBA graduates reported an average starting salary of $77,000, up from an average of $50,000 before they pursued the degree.

    The GMAC also noted that global demand to take its GMAT, the admissions test most business schools use, was up 13 percent in the first half of the year, and officials say it has jumped even faster in the past month. Some schools have encouraged news media interviews with officials hoping to make their case, and some deans have chimed in with op-ed pieces in newspapers.

    "The harsh reality is the demand for the MBA is incredibly strong, it's 100 years old and it isn't a fad," said Dave Wilson, GMAC president.

    The article notes how many top executives do not have MBAs. But critics say that is not the point. Sure, some people succeed without MBAs, they say, but think how many use an MBA to go further than they otherwise could.

    Pfeffer acknowledged some of the criticism, saying there is certainly value in the networking that is often part of getting an MBA, and that salary is an imperfect measurement of the degree's value.

    But, he said in an interview: "The question which I believe remains unanswered . . . is do you learn anything at business school?"

    The real problem, he says, is that no one in the business education industry is asking such tough questions.

    But even some who criticize the article's conclusions say it raises some important issues.

    "An MBA may no longer be enough," said Louis Lataif, dean of the School of Management at Boston University. "There are too many of them out there. . . . There are lots and lots of schools in the MBA business who in fact may not be adding value."

  14. #14
    Hi Sushil,

    Thanks a lot for such a good article. These articles are giving insights and lets hope something good happens to the economy

    cheers
    Anurag

  15. #15
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    Please find hereunder a good source for information regarding business schools in North Amercia:

    http://www.businessweek.com/bschools/index.html

  16. #16
    good going anurag!!!
    jaat ke thaath

  17. #17
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    Can you guess who am i.

    If you need clue then reply

  18. #18
    Sarla Choudhry (Jan 01, 2003 11:19 a.m.):
    Can you guess who am i.

    If you need clue then reply
    I am replying.........
    Everyone thinks of changing the world, but no one thinks of changing himself.

  19. #19
    CAN YOU GUESS-------
    WHO I AM-!!!!!!!!!!!!
    I AM REPLYING TOO !!!!!!!

    WELCOME SARLA
    HAPPY NEW YEAR 2003
    Jay Jawan Jay Kisan Jay Shaheed

  20. #20
    Hi Sarla ji,

    Clue ki bahut sakht zaroorat hai, uske bina guess maarna mushkil hai.

    -Anurag

    Sarla Choudhry (Jan 01, 2003 11:19 a.m.):
    Can you guess who am i.

    If you need clue then reply

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