Is entrepreneurship for everyone? Is an MBA abroad better than one obtained in India? Is post-graduation in computer applications worth doing?
Get Ahead columnist Rashmi Bansal tried making sense of these and a whole lot of other questions for readers at a recent chat.
Also Read: 'MBA is not a magic mantra'
For those who missed it, here's the transcript:
Vikram asked, Hi Rashmi, I am an avid reader of some of your articles. I had a question on Indian vs Foreign MBA - considering $100k salaries as the norm and much better working and living conditions... is the IIM option advisable? (only few are the jackpot holders ...).... an IIT Grad
Rashmi answers, hi Vikram Yes, a foreign MBA may appear to have better returns but remember this: The $ 100 k salaries accrue to grads from the top 10-15 b schools in the US and a handful in Europe. The cost of getting this MBA would also be close to $100 k. Of course, loans are generally available - Top b schools abroad require abt 4-5 years work ex. The average age is 28. Hence if you wish to do an MBA within 2-3 years of graduating, IIMs remain your best bet.The cost of the degree is abt Rs 5 lakhs and while not all students get fabulous dollar salaries, you do have a shot at them!
cg asked, Hello,pls suggest me whether i should do some job during the 1 year break that i am taking b4 goin for MS or should i do some courses instead.I am into final year IT from VJTI,mumbai and hav excellent credentials till now.around 20 companies hav visited our campus n i dint apply for any.but now i feel i should work for a year.a break of 1 year is imminent for me.please please reply back.....
Rashmi answers, hi CG I think a year of work ex would do you good. Enough of studying -- learn what the real world is about!
Vineet asked, How common is it for corporates today to sponser a MBA from abroad ( Costs a ton) for its employees?
Rashmi answers, hi Vineet A 1 or 2 year MBA? Very unlikely that a corporate would sponsor. Companies may sponsor you for a short term, say 6 weeks to 3 month course but a full MBA kind of signals that you want to move on. Be honest, would you really want to come back and work for the same company? Better you plan to take a loan to finance your studies.
andy asked, hi rashmi, i have done my BE in ENTCE and PGDM in information systems, and have 6 months exp in IT Recruiting. any prospects for me. the pay package here is pathetic!
Rashmi answers, hi Andy You have to ask yourself why you accepted this job in tehe first place. Was it the only option you had ?Or was it a conscious choice? Either way, there's no point crying over the pay now. Think of what you have learnt here, update your resume and apply for jobs elsewhere. You could also request to meet yr boss and HR head and communicate your dissatisfaction to them.They may offer you an increased package if they value your services, else you know it's time to move on. Good luck!
neeti asked, hello!! I have done BBA and I ws pursuing MBA-IT from pune but i left that course in between bcoz of some reason..I'm tech savvy .. i knw java, oracle, PHP , networking.. so i'm preparing for CCNA right now planning to give my certification exam this month.. and have planned to go for CCNP after this.. can u suggest me what shud i pursue with this as a post-graduation MBA or MCA .. i can't think of a regular one i'm planning for distance educatation.. can u suggest me which one is gud MBA or MCA and from where if through distance..
Rashmi answers, hi Neeti It's unclear to me what is your career goal. Do yo wish to be a software programmer or a manager ?Please think about that before enrolling for more courses. I'd say work for a bit and then go for an MBA if you still feel attracted to a managerial position. And if you do, try for full time. An MCA may be redundant once you are actually in teh software industry. You'll figure it out once you're there if u really need it !
cg asked, thanks a lot!1 last question,is it that if i learn SAP first and then do my MS,my knowledge in SAP would be 'outdated' and ill have to learn it again???
Rashmi answers, Knowledge is never a 'waste' but it may not directly benefit you considering you're planning to do an MS. Sure, things may change -- SAP may go out of fashion - but if you feel you want to know what it's all about, join the course. Don't be afraid of 'learning again'? It's a necessary skill in today's fast changing world!
samuelss asked, hi ... i v jus completed my BSc IT ... i v been offered a job as a junior programmer tabulation services... its a tool to code marker research software like quantum. wats the future for tab programmers.. can u plz explain???
Rashmi answers, hi Samuel I have no idea what the scope for this role is but I think if you're getting a toehold in the industry, take it! After all BSc IT grads are not as sought after as BEs or MCAs. I am sure once you're in the company you can graduate to other job profiles - or switch jobs in time.
Vivek asked, Hi Rashmi, I've completed B.Com and currently have over 4 yrs of experience. Now I want to persue of PGDBA through Symbiosis Institute of Distance Learning, Pune. I want to know whether that course is recognized in job market or not.
Rashmi answers, hi Vivek Time and again I have only one thing to say about distance MBA : do it for personal growth.For knowledge. It does not carry much weight on your resume. That is the sad truth. As in your immediate job prospects will not suddenly perk up because of the degree. But perhaps the very fact that you are striving to improve yourself, learn new things will give you more confidence and drive. And that could work wonders. Last bit of advice: check out a part time MBA program if possible. While even part time MBAs come nowhere close to full time when it comes to 'branding', you get a better learning experience.
EngineerDoctor asked, HI rasnhi. I am an MBBS lady doc with 3 yearss exp but unable to crack PG. Now Im married. Im getting DGO in Maharastra for 8 lacs. Other option is changing profession to MBA or may be IPR. What du suggest?
Rashmi answers, hi ED Why do you wish to change your profession ? For money or because you don't like medicine at all ? If you enjoy being a doctor, I'd say bear the initial struggle and don't switch professions. I think even without a PG it is very possible to build a good practice. It just takes some perseverance and good inter personal skills. Good luck, doc !
vkaul123 asked, i have 6 years experience in HR (recruitment, generalist and trg/dev) in decent companies. I feel a strong inclination towards teaching though not inclined for a PHD /Fellowship at this point of time. How are the scope of academics in b-schools for non-phd person with 6 yrs of exp ?
Rashmi answers, hi VK Except for IIMs where a PhD is compulsory , you could teach anywhere.In fact people of your background and experience are very valuable and sought after these days by b schools ! A good idea may be to start as a visiting faculty at a b school in your city. If you enjoy the experience, then consider joining academics full time !
pearl asked, Hi Rashmi, do you think a BSc is relevent today
Rashmi answers, hi Pearl I think the purpose of degrees like BSc and BA is to expand our minds, teach us to be logical and learn to express our thoughts and ideas. So yes, B Sc is 'relevant'. Of course, you would have to opt for a PG - either related to your field of study or outside it (MBA, media etc).
Amit Tated 57 asked, Hi Rashmi I completed my CA and also CS Inter.I had also completed DISA and will be giving CISA in December and CS Final .I am currently working with small BPO as to pass away the time and would gain some experience also and would u suggest that is it Ok with qualification or I should go for part time MBA since it would not be possible full time for me.And currently if looking for future my area of interest is going in BIG4 for Information System auditing
Rashmi answers, hi Amit I think after a CA qualification you should work full time at least 2-3 years and then think of MBA. Not part time but full time.Or you could work abt 5 years and then opt ISB/ IIM's PGPX/ MBA abroad.
rajeshz asked, hi rashmi, i am a big fan of ur blogs. i am a management student myself at NM in Bombay and id like to know if Finance and IT is a good combination for getting into a. Consulting and b. Investment Banking? Thanks...
Rashmi answers, hi Rajeshz Thanks for applying makhan. Re: consulting/ I banking.Well the sad truth is there are limited numbers of such jobs and here it's more about brand name. The most prestigious consultants and I banks will recruit from IIM/ XLRI/ FMS. They will proudly say, "We visit only Bajaj... ". So forget the profile bit.. you guys need to convince them to come to your campus in the first place.
vaishali asked, hi rashmi, am working in hotel as executive Secretary from last 6 years.but know i think that there is no growth for me. i am bonded with this only. how can i go further in this line and earn good salary
Rashmi answers, hi Vaishali Well I think your best bet is to try and contiunue working as an exec secretary but for a more high profile person. How does on get such a job? I don't know.. you have to be resourceful. Network, spread the word. There is a lot of demand for a good exec. secretary - you could even draw up a list of 50-100 people who you would like to work for and send them your resume. I know this sounds very... unconventional but you have nothing to lose. Let me know when something works out!
Nisha asked, Hi I am B.Tech(IT) from Delhi, and has got an experience of around 1.3 years (still working) in C#, Asp.Net,VB.net,SQL Server 2000,MY SQL,MSAccess and associated Microsoft Technologies, i am looking for a job but not getting what should I do
Rashmi answers, hi Nisha It sometimes takes a while to land a job but given the current market conditions I have no doubt you soon will! Your best bet is ot network - with your friends, seniors and others already in IT. Many jobs keep opening up and they would get to know first as these days IT companies have employee referral schemes. ie there is an incentive to refer a suitable candidate. Also register on job sites and independently submit your CV to as many companies as possible - in many cases you can do so online itself. Good luck !
vidds asked, I have about 10 years experience in advertitising and brand building. Now i want to get into the teaching line. But I just have a distance education MBA. How do I enter this line....Should I do someother course to enter this field
Rashmi answers, MBA is not necessary to teach in a bschool. Experience counts, as do communication skills and a passion for teaching. Approach some local BBA/BMS/MBA colleges and try to geta stint as a visiting faculty first. No more degrees required !
ANUPAM asked, hi rashimi i m doing my ca final with my articleship i want to pursue mba in finance is it a right decision.secound thing i want to know is that is the right time to join mba .and the good univesrsity.what is ur opinion about IIPM
Rashmi answers, hi Anupam If you expect to clear your CA soon, please set your sights on an MBA from schools such as IIMs/ XLRI/ FMS/ SP Jain/ MDI/ Bajaj. I would not recommend IIPM
Ashish shukla asked, What are the job prospects after completing MBA(I.T) from an average UK university(TOP 100). What are the chances of getting a good job in software industry of UK.I have over 1 yr of IT experience.Please comment.
Rashmi answers, hi Ashish I would not go for a top 100 university.. why aren't you setting your sights higher ? It is now possible to work in the UK after completing one's degree, for a limited time period. But you can never count on it. Check with friends and seniors on the post MBA job scene.
222 asked, Hi Rashmi: What Enmity you have with the course CHARTERED aCCOUNTANCY? Aap toh hath dhokar nai Naha Dho kar Piche Pad Gai. Mera CA Final ka 1 Group clear karna hai.
Rashmi answers, hi 222 No enmity with anyone. Just an observation on the reasons why MBA has become more attractive to the average 18 year old than the CA. I think any profession you take up out of passion for it and patiently pursue reaps rewards. CA included !
Parminder asked, Hello Madam, My brother has done B.Tech in Electronics and Communication Engg in 2005. Later he did MCSE on Windows Server 2003 and CCNA, but is still struggling to get the job of System/Network Administrator or hardware/netwroking job. How should he try to get a better job.
Rashmi answers, hi Parminder Everyone has to struggle for a while. It's part of life. Don't bail out the moment things appear a little tough. Hang in there, keep learning and growing. How to get a better job ?In this day and age of online job sites.. I don't have to tell ya !
KRISHNA asked, I have 20 years experience as an Executive Secretary and due to professional jelaousy, I was forced to resign from my current job. I am working for one of the top 10 industralist of India and he is one among the wealthiest in the world. Please let me know whether I should hunt for a new job in the same field or I should opt for other line
Rashmi answers, hi Krishna Can your current employer provide you a reference? Assuming your relationship with him is not ruined, please request for one and find something in the same field - if you enjoye what you do. Good luck !
sanjay_mgm asked, Is it worth going for E-MBA conducted thru satellite tranmission in Hughes Directway classroom
Rashmi answers, The institutes Hughes has tied up with are quite prestigious, so there is some value. Nowhere near the full time programs but better than most of the part time courses offered. Only issue is the cost is high and you have to devote your Sundays to attending VSAT lectures
somrup asked, Hi Rashmi, this is somrup from bangalore. I work for an IT company. I plan to do an MBA. Planiing to do it from ISB or singapore NUS. Is finance a good option for it guys?
Rashmi answers, hi Somrup Whether a subject is a good option or bad one depends on where you want to be in the future. And what turns you on!
shubha asked, hi Rashmi, I am writing to u at the last moment.I am an Industrial Engineer but u will be surprised to know i am working in a hospital.I have developed interest in this field.But,i sometimes give a thought as to what i am doing in a hospital.as i hv just started my career,i sometimes think of change.Please guide me .I am very much confused.Now,at present i am even thinking of post graduation in Helath Care Management.
Rashmi answers, hi Shubha So what if you are an engineer... you've stumbled upon something that you enjoy. Stick with it. A health care or hospital management degree is a good idea
Ajay asked, Rashmi, would you encourage or discourage young minds taking on the journey of entrepreneurship ? We have put together a 2 day conference on Technopreneurship ( http://technopreneurship.itvidya.com ) , am looking for young entrepreneurs to speak, can you recommend any ?
Rashmi answers, Entreprenreurship is a good option for people who are comfortable with taking risks (as in no fixed paychecks in initial phase). People who are very confident, resourceful and flexible. It's never a desk job and there's never a guarantee that you will become Bill Gates. Also you cannot count on venture capital funding. But the environment has never been better for entrepreneurship than it is today in India... those who have a dream, it is worth taking that chance. You don't want to think 20 years from now 'what could have been..' Email me separately re: yr conference
Rashmi says, It was nice chatting with you all. Given that I am neither All Knowing nor a robot who can type at the stupendous rate questions are thrown at me, pardon the fact that I cannot answer you all! Have a great day and goodbye
RASHMI'S COLUMNS
Rashmi Bansal is a graduate of IIM Ahmedabad and founder-editor of the popular youth magazine JAM (www.jammag.com).
She can be reached at rashmi@jammag.com