Hi baccardisprite, I'm new to this forum but have been following your tips on foreign admissions. I'm a business analyst, fresh out of engineeing, working with an analytics driven firm. I gave my gmat first attempt this year and got a 700. I was looking at getting some international exposure in terms of education and work and I'm interested in continuing in analytics/consulting/operations research.
I'm looking at applying for fall 2013 for the following courses:
LSE- Msc Decision Sciences and Warwick- Msc Analytics and Consulting
Waiting till 2013 gives me a solid 1.5+ experience in analytics. Could you suggest other such courses (preferably 1 year) keeping my aim of being in strategy consulting in mind? I read the article you posted, and that adds to my conerns of getting a job out there. Makes me wonder if its worthwhile spending so much? What do you suggest? Looking forward to your 2 cents worth. Thanks a ton! :)
Both programs offer good academic quality, delivered by strong departments in reknowned universities, that will also (hopefully) possess career services departments to train you in conducting an effective job search.
The last bit is obviously important - because the UK Government will abolish the post-study work visa rules for non-EU/EFTA students graduating degrees in the UK. The work-visa itself didn't make getting jobs easier, it just allowed employers to recruit non-EU/EFTA graduates without the legal / logistical hassles and expense to "sponsor" a work visa. The abolition of the post-study work visa from April 2012, means that graduates will have to not only find a job, but also convince the employer to "sponsor" a work-visa. The 2nd part is obviously more difficult (in some industries and jobs, next to impossible) at a time when the high unemployment in a near-recessionary environment means a lot of locals/EU/EFTA candidates are available, at reasonable salaries (CTC), and budgetary constraints. Most industries will face this problem of plenty, and will simply not bother with considering / interviewing (leave alone offering) non-EU/EFTA candidates with no/low experience. As for the Strategy Consulting firms - their business model is dependent on a strong economy as well. So you will find that the McKinseys, BCG's and Bains are constraining hiring in the EU. While that opens opportunities for the Operations Consulting specialists like the Accentures, PWCs and Deloittes; who by the way - also face the same problems of plenty right now.
Unless you have the financial cushion to return to India after having made the INR 20-25L investment to study in the UK, I wouldn't recommend going to the UK right now. IF you want to get out, then think about Canada, which (until / unless the policy changes) appears to allow Graduates to apply for and work in Canada for a period after graduation without the headache of having to find a work-visa sponsor. Check www.cic.gc.ca for more details.
You could try the following - work in your firm for 3 years, gain experience, a bag of skills around Decision Sciences & Analytics for multiple client industries; then move into a corporate / consulting firm where you further hone your skills in a true client facing environment (am talking the Accentures / Deloitte's here).
Alternatively, try gaining entry into the Corporate / Marketing / Strategic planning team of a major firm within the industries you serve now (transferable skills and knowledge). Then go for the right education (MBA or Quasi-MBA) from a really top school that will open doors for you to the Consulting firms.
In this period, do two things to complement your skills:
1. Gain a professionally endorsed qualification useful in Decision Systems and Analytics - think about CIMA (Chartered Institute of Management Accountants - www.cimaglobal.com), which is the UK/Commonwealth equal of India's ICWA. This a globally recognized Management Accounting qualification, that requires you to pass a set of exams in 3 stages, gain professional experience in a hard core financial / analytics role. It can be taken by distance learning (you need to be motivated), is quite affordable, and logistically feasible if you have a British Council presence in your city.
2. Learn a foreign language to intermediate fluency. Let's just say it doubles your attraction factor to the consulting firms.
It does sound a more difficult path to Strategy Consulting, but believe me you will have a lot more to offer to consultants & their clients, with the benefit of experience than without.
If you're in a tearing rush to enter Strategy Consulting now, work hard for the CAT/Similar, get into one of the Top 4 IIMs, JB, SPJ, MDI, IMT, FMS - hit the top 5% of the class and you'll probably get what you want.
Decision Science will teach you that you can't influence risk very much. You can however manage exposure and ability / strategic preparedness to counter the adverse effects of risk. That exactly what I recommend you do with your career.
Hope that helps you, and apologies if it's not what you wanted to hear.
All the best
Baccardisprite
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