Chasing the MBA Dream as a young applicant

I am a young applicant trying to figure out my way in this complex MBA journey.

I am learning so much in this process and I thought of blogging about it. I hope this blog will help others on their journey.

Contemplating.. The Decision to get an MBA

Summing up the US MBA admissions process

Do I really want an MBA?

MBA Rankings and β€˜Fit’

How many Business Schools do I apply to?

DIY : Figuring out which B-Schools to apply to

MBA School Choices!

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MBA and Masters Program Choices!

So After a lot of random ramblings, I have decided to apply to several programs, a mix of MBA programs and specialized masters programs that can help me achieve my goals. I have decided to be super ambitious and go ahead and apply to HBS, other M7 programs, specialized masters programs including those at Stanford, Columbia and Carnegie Mellon. I have a couple safety schools too, but I do not want to attend any school out of the top 25. The ROI doesn’t make sense and it won’t open the opportunities I am looking for.

 

It isΒ a crazy number of schools. Also I plan on applying to ALL these schools in Round 1. Wish me luck! πŸ˜›

I have been introspecting and researching this whole process for one year. I think I will be able to put together a good application for all these schools. Additionally, I am drawn to each of these schools for various reasons – For some, its about the cost of attendance, for others its about the west coast presence in Tech. Some are dream schools, some have a strong focus on innovation, some have a great alumni network I would love to be part of, some are perfect for the kind of job roles I want to land post-MBA. There are just too many factors in this decision and I will have a clearer picture on where I can attend only once I get admission decisions and if any admits, the financial aid.

If this backfires and I don’t make it, I’ll still view it as a positive experience. At least I tried my best to chase my MBA dream. I’ll never regret not applying or keep thinking ‘What if..’ 10 years later πŸ˜€

How many Business Schools do I apply to?

Every time I come across a profile of some one who has applied only to one or two schools, I feel a sense of panic within me. How on earth do I narrow down my school selection to one, two or at the most five schools?!

Like sure, maybe there are only a few schools that are my absolute dream schools, but what happens If I get accepted nowhere. :O I have seen way too many blogs of re-applicants who didn’t make it the first time. I do not think I have it in me to go through another year of this stressful application process.

So I sat down and did a LOT of introspection. I thought about every possible scenario and came up with a plan. But first let me talk about how I arrived at my conclusion.

Some things about me and how they factor into my decision:

  • I currently work in India, but My family will be in LA next year, so I probably will want to make a move to the US anyway. It looks unlikely that I will move there through my company, so I need to consider alternatives, if I don’t get into an MBA program of my choice.
  • I am from the Tech industry and I am looking to stay in Tech post-MBA. I want to be in either LA or the Bay Area ultimately, so schools with a strong West-coast presence make more sense.
  • My family will be in LA. I want to be able to visit them at least every couple months if not more frequently. I also might need to keep traveling to the Bay area while hunting for jobs and internships since that’s my target destination. Connectivity is a major factor. I will be looking at schools that have an airport nearby with easy connectivity to LA and the Bay area.
  • In the event I do not get an MBA, I might stay in the technical area of product development instead of moving to the management track. If that happens, I would need to look for opportunities to improve my technical expertise and grow, either on the job or through courses online or maybe even a master’s in a particular domain. However, this is the worst-case scenario when I cannot get an MBA and cannot go down the management track. So that’s my backup plan πŸ˜€ For now, MBA all the way!
  • Financial aid – I earn very less when my income is converted into dollars. Now, by purchasing power parity I am quite happy with my income here in India, but since I will be paying tuition and fees in dollars I definitely need some good financial package if I want to attend. I can take on loans, but again since I have almost no savings, it makes me very uncomfortable to have debt upwards of 150k at this age. I’m only 22 and I don’t want to be tied down with such a huge financial burden at an age I want to live my life and have fun πŸ˜€
  • Returning to India – I do not know how long I want to live in the US. Yes, I know that’s unusual, but I am actually open to returning here or elsewhere in the long term. If I don’t live in the US, it will be even tougher to pay back the loans, so I need minimal debt. That way I have the mobility to move anywhere I want, at any time. I don’t want to be tied down due to financial burden.
  • I personally have several reasons to believe that this is the perfect time for me to head to B-school. I know I might have higher odds with more work experience, but right now I am absolutely positive I want to start my MBA program in Fall 2017. Β If I’m unhappy with the admission results, I will accept the outcome, and move on to other things in life πŸ™‚ But while I am trying, I will give it my best! πŸ™‚Β So, It’s now or never!!

So I have decided to apply to some of my dream schools which are ambitious and the world’s most prestigious, schools I absolutely love and also have a moderate chance of getting accepted to based on stats and schools where I might be above the average stats, but I think I really will love being a part of the school culture, and also have chances for getting a scholarship!

Either way, If I get accepted to any of these, I will be very happy to attend, and I can’t go wrong with my decision πŸ™‚

If I do not get accepted, I will look for jobs in Tech in the US next year!