g_nikhil7 Sayshi, this is a very informative thread .... i wanted to ask you about a section where you wrote about freshers just out of college not sure about what they want to do in life .... well, i am one of them and would be grateful if u could help me out. i am currently in my final year doing my bachelors in business (3 yr course) ... In the long run around 4-5 yrs from now i am looking forward to become an entrepreneur and setting up my own business probably a manufacturing concern or somethin (not yet decided). i wanted to go for MBA in finance in a top university abroad and then work for 1-2 years to gain industry exposure. But as far as i have heard one needs atleast 2-3 yrs of work experience to apply for an MBA abroad. Please tell me if there are any good universities accepting freshers with good scores for an MBA? if i get a very good score in GMAT, is there any chance of getting into a good b-school? i have often heard that nothing can replace an MBA .... but i dont think it is true... What are the other alternative courses i could opt for considering my future goals. (maybe in finance field , manufacturing)? and what are the job prospects after finishing the course? further more i have heard that US is the best for further education esp for MBA or finance... please advice which countries should i target ?
- If you're thinking about an MBA straight out of college, give the CAT, and do it in India.
- If you want to go for an MBA abroad, but right out of college - you will NOT get into a top or reknowned program even with a good GMAT; because the MBA is by global concept post-experience education that turns technocrats into business managers / leaders! That concept has been twisted in India, which is an entirely different discussion. All I know is, it doesn't work outside India!
- The "nothing-can-replace-an-MBA" is just ****! I have an MBA, yet know a lot of smart(er) and successful colleagues / friends who don't. Always remember that education doesn't make you a better professional, it merely helps you upskill towards becoming a better one - a tool for a job, a means to an end!!!
- If you want to become an entrepreneur in the field of manufacturing, you need (over the next 5-6 years) experience and education towards that end. Since this is manufacturing - try getting a job (no matter the pay) in a small to medium, but entrepreneur owned manufacturing company!! Use your parent's / family connections if these are available / possible.
- Work for 4-5 years, learn the ropes - while educating yourself in finance through a distance learning M.Sc in Finance or ACMA or ICWA or similar. After 5 years - go for a proper and true-blue top MBA. Then work in a corporate environment for 3-4 years and then look to start your own business. You can actually use this period to judge whether entrepreneurship is really something you have passion for.
- Unless you're tremendously rich or tremendously lucky - you'll need about 8-10 years of hard work before being professionally, and financially capable of starting your own business.
Good luck
Cheers...