Change. That’s the central theme of this blog. Change as it applies to the country, the economy and the ‘system’. There’s another change that India is witnessing, this time at an individual level.
After spending a few years in cushy jobs, Indian professionals are preparing themselves for a transformation. And it’s not too difficult to understand why. We’ve got some real good talent coming out of our education system. After completing their graduation – in science, commerce, engineering et al – many join the industry in technical roles. Beyond that the cycle is predictable – spend many years at the bottom rung and aim to gradually move up the corporate ladder. This process might take years, or decades. For many, the opportunities to grow vertically are limited and languishing at the bottom of the corporate pyramid isn’t easy. A majority grin and bear it.
The impatient ones start job-hopping in the hope that the 20% hike in their next salary would help them go through the rigmarole for a few more years before they find the perfect job that they can retire in.
Some ambitious folks quit the rat race and start something of their own. Within that adventurous group, some succeed in first sustaining their business in the first few years and then taking it on a high growth path. Others who aren’t as successful wind up their entrepreneurial pursuits and get back to the comfortable and predictable corporate world. And the cycle repeats.
Apart from these, there’s another growing breed of folks who are ambitious AND impatient. And they think they have a new tool that can help facilitate the change that they so badly want – the international MBA. Whether they are aiming for a career change, better designations, fat pay-checks (with fatter bonuses) or simply the good life in the land of opportunities, an international MBA starts appearing like a short-cut to everything that they long for in their current jobs. Well, to be fair, the good MBA programs could make a positive difference in some of these areas. And I’m saying that from personal experience. The issue is when these expectations become unrealistic and impractical.
An international MBA can be very expensive and the return on investment could be tricky to calculate. Apart from the tuition fees, there’s the cost of living and many other smaller expenses that pile up over time. Cost is just one aspect. The prospect of leaving the motherland and all your contacts behind, means you are in an alien country looking for jobs (and a work permit) after graduation. Business cycles will play a key role in whether you get a job or are forced to return back to the welcoming arms of your home country. With a big education loan on the head, that can generate a lot of stress. Change can be good, when it is planned well. Change for the sake of change can be dangerous.
So if you are one of those ambitious AND impatient people hoping to create a big impact on a global scale, my only piece of advice is this. Don’t get swayed by the marketing hype, the jazzy testimonials and the super-cool websites professing the magical powers of the MBA degree. It can be a double-edged sword. When used well, it can help you fight & win battles in the corporate and entrepreneurial world. If you jump in without carrying out the background research, it could end up in hara-kiri. Choose wisely, live long and prosper!
Article by Sameer Kamat
Sameer Kamat is the founder of MBA Crystal Ball, an admissions consulting venture. He completed his MBA from the University of Cambridge on a double scholarship. He is also the author of Beyond The MBA Hype, described in the media as a book that ‘systematically and effectively demolishes the notion that an MBA is a magic wand that will change your life.’
