Re: IBA or LUMS
to phoenixdesi
big bro i know you know english quite well n ur sense ov aesthetics 4 da lang is also worth admirin......... but da main issue ov concern here is to resolve a person's prb not 2 pinpoint on grammatical mistakes. i thnk m not talkin in a community ov eng grammar or rather takin an eng lang xam. u also hav understood wat i meant n if u wr tht much gud den u mite hav come up wid a nice suggestion. but u hav truly chgd da course ov discussion wid ur iirrelevant quote here.........
i thnk i know wat kind ov communication skills r needed 4 an mba 2 possess, n u need not to remind me tht (bsides deres always a diff b/w writin a letter 2 da principal ov ur college n making a discussion 2 a frnd if u know tht...........
so it is requested tht if sumone has smthg worth mentionin den he shud participate in dis thread, others r requested 2 keep outside......... thnx!
Irfan
That is fine. You don’t have to change your communication style but do think about what your "big bro" said. And you have also made a good point. Even though you asked a question in an African language, somehow I was able to comprehend it and therefore I should have responded to your queries. So here is my candid response.
Speaking of doing a MS either from LUMS or IBA, frankly speaking I cannot provide you with valuable information as I am not aware of both programs in detail. I do have friends from both programs and there seems to be a general consensus that LUMS has newer facilities and better faculty whereas IBA, by virtue of its age, possesses a better alumni network. Considering your intended major (Economics or Finance) is sort of academic (as compared to studying strategic analysis, general management, business development, human resources etc), it is important to pay attention to the quality of faculty, course material and quantitative rigor. Here in USA, kids who do MS in Econ/Finance from top institutions are sort of quantitative jocks who end up developing complicated financial models for PE/HF/IM firms or IB. I am not sure about the Pakistani market. But I hope you get the idea. (PE= Private Equity, HF=Hedge Fund, IM= Investment Management, IB= Investment Banking)
But here is the question that you should ask yourself. Why a MS, why NOW and what are my SHORT TERM and LONG TERM goals? As cliché as it sounds but an honest answer to these questions would definitely help you. Where would you like to work post-MS and in which industry? Karachi, go for IBA but if you want to work in Lahore/Islamabad, LUMS would be a better option. If you want to work in the Middle East, both of these schools may help you but outside Middle East, probably not. Don’t listen to “exceptions” such as a cousin of friend of mine got a job with Glodman from LUMS or XYZ from IBA is working for a PE/HF in Singapore. While these stories might be true, more often than not, those folks have landed these sought after jobs by virtue of luck/networks and not through school’s regular recruiting process. Considering that you are focusing on Economics/Finance, you are probably going to end up in Karachi (if you want to sty in pak) and IBA would definitely help you in getting a job with an IB/IM firm.
While we are on this topic (irfan, this section does not apply to your situation. It is just an observation), let me also say that it is always hard for me to comprehend why folks in Pak and India go to an MBA school without earning enough experience (at least 4 years)? Unlike engineering/medicine/law, MBA is not an academic degree and its main use is to help you switching your career, develop contacts and polish your communication/presentation skills. And of course the quality of class room discussion/networking circle would be of much higher caliber if your peers are experienced. This is precisely why top firms hire MBAs from IIMs (India) as analysts not associates and majority of guys from IIM, LUMS and IBA end up doing another MBA from USA/UK/INSEAD if they intend to work internationally.
I would say, don’t rush. Take your time. Do your MS, go work for few years and then make a decision about doing an MBA. Good Luck.