MiM in 2014 Queries

Application & Admission
  • Posted by dkrgod on 11/14/13 11:15pm

    Hi MiM Compass,
    Guess what, I'm from India too. Hope you're not sick of us :) I have a lot of questions!

    Profile:
    10th: 90.26% (State Board, Maharashtra)
    12th: 82.83% (State Board, Maharashtra)
    B.Tech: 6.5/10 (Mechanical Engineering., IIT Bombay)
    GMAT: 710
    TOEFL: (On 23rd Nov)
    Work Ex: Currently 16 months (At the Consulting function of a Big 4 Audit firm)

    Attempted CAT (aptitude test for Indian b-school) 3 years in a row. 99.76 the first time, 98.62 last year. Awaiting this year's results. Not very hopeful about it. MBA in the US is unlikely as it requires ~5 years of work experience. Decided to apply for MiM.

    Objective: Get the best possible management education at least possible cost

    Expectation

    • Improve soft skills, gain business knowledge, build a strong network with batchmates
    • Employment in Europe
    • Should be able to pay off my student loan in under 10 years

    Career goals

    • Stick to consulting for a few years
    • Entrepreneurship once debts don't weigh me down

    Questions:

    1. What are my chances of getting an admission at one of the top ranked MiM programs (according to FT: http://rankings.ft.com/businessschoolrankings/masters-in-management-2013) - St. Gallen, ESCP Europe, WHU Beisheim, HEC Paris?
    2. What are the job prospects after MiM? I don't speak any European language. I've learnt a bit of French and probably can grasp it over 2 years.
    3. How many schools should I apply to for getting at least 1-2 admits?
    4. wrt Question 3 above, I'm constrained by application fees. Can someone lead me to universities that don't charge application fees? I found no mention of application fees in some German schools (Mannheim, HHL Leipzig).
    5. How much does an MBA add to one's profile after an MiM? In other words, can I stop my formal education after an MiM and just do my job to get promoted?

    Suggestion for Thomas: Seeing the many queries from India, why don't you join pagalguy? http://www.pagalguy.com/home MiM discussion there is pretty weak right now.

    • DK

    • Posted by Thomas Graf on 11/15/13 1:54pm

      Hi there,

      thank you for your questions.

      "What are my chances of getting an admission at one of the top ranked MiM programs?"
      Have you checked the schools' websites already? For example, have you checked the GMAT average scores (often you can find them in the FAQ section). If not, I recommend you to do that.

      Keep also in mind that some of the schools you mentioned are very selective and most often take the academic achievements as most important criterion. As for your GMAT, you are fine - "fine" means NOT a guarantee but that you are within the schools' range (at HEC, for instance, 710 is average). I am not sure about your GPA of 6.5/10 - this could be a problem at some schools. I would try to write excellent essays and make sure that the interviews run well.

      "What are the job prospects after MiM? I don't speak any European language. I've learnt a bit of French and probably can grasp it over 2 years."
      Jo prospects depend on many things - e.g. the industry you apply, your interviews the employer etc. In general, however, they are very good. 86 percent of the MIM graduates seem to find a job within 3 months - most of them in consulting, financial service firms and entrepreneurship. Have a look at our MIM Survey 2013. If you want to work in Europe, speaking a local language wouldn't hurt, though... I recommend you screening the schools' websites for career statistics - and also talk to their career office (where do their graduates work after the MIM?).

      "How many schools should I apply to for getting at least 1-2 admits?"
      I would apply at 3-5 schools. It is always good to have alternatives. On the other hand, application takes resources and applying at too many becomes inefficient.

      "wrt Question 3 above, I'm constrained by application fees. Can someone lead me to universities that don't charge application fees? I found no mention of application fees in some German schools (Mannheim, HHL Leipzig)."
      I cannot imagine any school not charging these fees as working through your application takes time for them. HHL, for example, charges 100 EUR: http://www.hhl.de/en/programs/full-time-msc-program/#6.

      "How much does an MBA add to one's profile after an MiM? In other words, can I stop my formal education after an MiM and just do my job to get promoted?"
      Well, first of all you may want to consider an MBA instead of a MIM. You have 16 months of work experience now. Hence, in September when you start your Master, you will have more than 2 years. Many schools would accept you then. The MBA has the advantages that you learn from your classmates' professional experience and that companies come to campus with advanced positions. By contrast, MIM students have no or only little work experience and qualify for job entry positions.

      How will an MBA add? First of all, it will refresh some of your basic management knowledge and bring it on an updated level, assuming that our knowledge on management changes and develops over time. Second, it may push your management knowledge and capabilities further by case studies and very practical perspectives, your classmates experience (VERY IMPORTANT!!!! I learnt about 50% from my classmates in my MBA), and leadership seminars. Thirdly, it may provide you with a decent network of alumni. Fourth, the degree "MBA" may be much more appreciated by some employers as a prestigious title than a Master of Science. Finally, the MBA may give your career a new direction based on everything that I mentioned before and the schools' career service.

      By the way: You don't need to decide NOW if you do an MBA LATER. All you need to do NOW is to decide what's the best education now for you. If you decide for the MIM and if in some years you have the feeling or need that an MBA would be good, you can do it - full-time or part-time.

      Best wishes
      Thomas

      by Thomas Graf

      • Posted by Thomas Graf on 11/18/13 12:35pm

        Hi there again,

        in the meantime I have checked the Mannheim Business School (by the way, you can do this too when it comes to future inquiries - just send an email). Indeed, they don't charge registration fees - lucky you!

        I am surprised about that: Though I I have not done any statistical assessment of how many schools charge fees, from my daily work I would guess that the vast majority charges these fees in fact.

        If you find out about more schools not charging fees, please post them here.

        best wishes
        Thomas

        By Thomas Graf

        • Posted by dkrgod on 11/18/13 1:04pm

          Thanks a lot for your replies!
          I've gone through multiple college websites. They're not always very user friendly and not all the information is in English (especially with German schools), So I'm not sure if they charge an application fee or not. I'll just shoot an email the next time I get stuck.

          I know NUS doesn't charge an application fee. I was told here that Frankfurt School of Finance and Management doesn't.

          I don't know how significant 100 Euros is for an average European student but for someone in India, it's ~INR 8500 That's more than my monthly house rent!

    • Posted by dkrgod on 12/09/13 7:18am

      Hi again,
      I told my friend who is also interested in pursuing a management degree about MiM programmes. He said his friend couldn't get a work permit after completing his MiM and had to come back to India to look for work.

      Does this happen often? How difficult/easy is it for Indians to get a work permit after completing an MiM with a university like say HEC Paris?

      Is it necessary to find a job while studying to increase one's chances of getting a work permit?

    • Posted by Thomas Graf on 12/09/13 10:06am

      Hi there,

      as I said above... in general (86 percent), most people find a job within 3 months. And in the same survey, we found that 50 percent of these jobs are found in the same country where the university is placed (means 50% abroad).

      I do understand your concerns of course, and getting in touch with your target school is a must in my opinion. The key question is: Does the program have experience with placing people of your nationality in the past? You be able to find information on student demographics and career statistics on the school's website, and then call or email them to get in contact with a current and an ex student who has the same nationality as you.

      As for the VISA or work permit, I recommend contacting your embassy in the respective country.

      And yes, I indeed recommend looking for companies already during the program. For example, you may want to consider programs with a practical period (even if these programs may last a bit longer), e.g. an internship or in-company project, where you get into contact with a potential future employer.

      Best wishes
      Thomas

      by Thomas Graf