It was sometime around Jan 2008 when I began to research on the Business school rankings n stuff like that. I was very sure of one thing, that I will be going abroad to do my MBA. Thinking about the list of probable countries where one can pursue MBA from, there were not many which came to my mind. Its always the same list :- US , Canada, UK, Australia.
These are the major factors to consider while choosing a B-School/Country:
- The Institute and it’s MBA course’s reputation worldwide (Rank in global top-100, Group of eight, Group of 13, Affiliations etc..)
- Cost of Education – (A major factor for me considering the big risk involved in spending a humongous amount of money)
- Country’s Economy, Job market, Immigration/Work Visa options – (Obviously no one would want to return empty handed.. )
It’s well known that US and Canada are the dream destination for management studies due to their economy and availability of management jobs aplenty. I said to myself that for sure, I am not going to give GMAT. I have tried this thing before, i.e.. preparing for a competitive exam. When I start on a long term preparation I have a tendency to lose momentum in due course.. But this time I am motivated to make this happen, hence no distractions – Shortest Path Fisrt!
US and Canadian B-Schools are very specific about GMAT score, and most of the better ones demand a score of about 700 to 740. I thought I would try to get into a B-School based on my work experience and IELTS score alone, In that case the possible destinations are UK and Australia. I had a small no-no for US as I knew the cost of education is way too high, exceeding the max loan limit for education loans in India. 🙂
On getting some clarity on the destination countries, We (Me, Raja and Pras) started to research B-Schools in those countries which are reputed and listed consistently in top100 global lists. We had got a list of 6 to 8 B-schools from Australia and 9 B-Schools from UK. Pras had even searched for EU B-Schools which accept without GMAT.
With a list of possible B-Schools ready, we started to do research on the most important part of all (according to me at least 😀 ) :- Work Visa and Immigration options. I would list down the post MBA options in the two countries as follows..
- International Graduates Scheme [Link]
- Highly Skilled Migrant Program (HSMP) [Link]
For applying to the first scheme where you are allowed to work for a period of 12 months in the UK after graduation, You must have graduated from a list of 50 B-Schools. Unfortunately the only good B-School with no-GMAT listed in that list of 50 is Bradford. So that pretty much reduced the option of studying in UK to just one B-School – Bradford Univ. School of Management.
- PR (Permanent Residence) – Work permit [Link]
- Graduate Skilled Temporary Visa – TR 1187i (Temporary Residence) [Link] for 1.5 years.
Any student who has completed 2 years of graduate studies in one University in Australia is eligible to apply for the PR directly or He can take a TR and work for 1.5 years till the PR gets processed. Well this sounded a bit promising that the other options. At least here I have a guarantee of working for sometime to get back the money I spent on my education. After that I can reduce the risks, and even come back to India with a international work experience.
With all this in mind I decided on Australia as the destination for my MBA. There is a lot of hurdles to cross, including a major hurdle called passport (I know.. I was stupid not to have got it done earlier). As of today 13-02-08 I’ve listed down what all needs to be done before applying for admissions.
- Passport 😦 I just hate myself for not getting this done long back.
- Professional resume and Statement of purpose (I am gonna put lot of work into these)
- Prepare and take IELTS test. (Target 7+ in all bands)
- Recommendation letters from 5+ people in professional career. (Thankfully not from my Professors 😛 )
- Document readiness for Grad applications and Student visa.
- Education loan for tuition fees for the whole course.
- A little bit of self development in terms of :- Business acumen, Current affairs, Self confidence and Presenting ourself better.. err..things like that.
thats where I stand now… it will be present tense from now on 🙂 .. I believe that writing this blog will keep me self motivated, and help me in having the momentum stable throughout.
And, The Journey Continues…