Re: Spending $200,000 on a MBA?
For the last couple of months I have been planning and researching on doing a MBA from the States. I have completed my essays/personal statement/letter of recommendations etc. In short everything is in line except for the GMAT which I will be giving in a month or two. My work experience is diverse (Public Sector, MNC job & entrepreneurial) and international (Middle East and Pakistan) so I feel that I have a pretty good chance at landing an admission at a top 10 ranking uni in the States.
I will only be applying to top schools like Wharton/Harvard/Booth/Columbia/Stanford/Stern. The expected bill is around $200,000 (around $170,000 for 2 years as stated on their websites + $30,000 for other miscellaneous expenses). Why am I going for a MBA? I have always wanted that international exposure and since I couldn’t go for study abroad during my bachelors (due to various reasons), now is the chance. Plus and most importantly, I have always wanted to work for an investment bank like Goldman Sachs/JP Morgan/Morgan Stanely etc. So much so that I am willing to forgo my current business and incur huge opportunity costs for a chance to work for these firms.
Now the issue is that a couple of friends say that a MBA from these top schools wont guarantee you a $100k/year job (or even a job at all). This is pretty surprising, considering the careers stats on the websites of these schools. I realize that those stats may not depict the true picture, therefore I am posting this here to ask all of you (who are in the States or know someone). Can a Pakistani easily get a job in the States after a MBA from these schools? Do firms/investment banks hire foreigners (especially Pakistanis) or do they prefer local Americans? Is work visa/H1 a hassle firms want to avoid? In short, would I be wasting my $200,000 if I decide for a MBA from these schools or not?
if i was in your shoes, i would give it a shot. the risk is quite low when we are talking about loan of 200k at graduate level. if you are able to secure MBA from one of top10 school, 100k+ is a starting. in the coming decades the dividends will keep rolling.
… and think about what x2 wrote.