Tuesday, August 4, 2009

Is it a change of trends?

Browsing about colleges, I came across this BW article today. The fact that it dates back to March makes some of the facts a little less relevant and wrong as of today(most of the fin. companies like Goldman Sachs, State Street have already paid back their TARP duns are not subject to the H1-B restrictions anymore). But overall, it conveys the truth about the changing attitudes of international applicants to US B Schools.

The undisputable fact that a 2 year study at a US B-School is painfully costly seems to play a major role in the attitude of applicants of today's hard economic times. Lets face the fact here, times are tough and Americans are not willing to proclaim their land as "land of oppurtunities" anymore,especially not for foreigners. They want to emply their own citizens first (the EAWA act , remember!). Investing around $100K into your education in this scenario and without any prospects of getting a monthly salary in $ denomination does seems like a huge huge risk, especially when your family is involved(like with my case).

But then , the ROI is not bad at all, even if an interational student doesnot land with a job in US, he/she can very well go back to his/her home country where a MBA from a top 25 US B School is still a rarity. The Indian and Chinese students have seem to taken this hint as way back as 2004-5. And with perfectly desirable B Schools like ISB at home, most of the Indian applicants are shifting their focus too. After all,you spend way less money than you do in US (compare $30K to $100K ) but still end up with the same employment prospects.

All said and done, it is up to you and only you to choose which is best for you. I'm only hoping that this trend continues to make international students a coveted prospect by most US b-Schools,in which case I am at a benefit. :D

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