Hi All,
I received offer from IE IMBA April-2012 intake with scholarship. I understand that IE is one of the best school in the world and features among top schools in every MBA ranking. But I am in some dilemma about accepting the offer primarily due to financial reasons.
IE IMBA tuition fees + 1 year personal expenses costs around $100K. A whopping amount for someone like me. I understand that most of the programs in Europe will cost almost same. I am just worried about because,
1) difficulty for non-Europeans to get a job in Europe. Is it really bad for non-Europeans to get a job? I have worked in US for 4 years so want to know, how is the placement of IE graduates in NA? Do US companies recruit at IE for US market?
2) I am sure no one has $100K in account so everyone must go for some or the other loan option. Similarly I may have to take loan of $40K. This is a big financial responsibility for me, like almost everyone. Is it worth to take this much of loan for IE program? Will I at least get some job that will allow me to repay loan and make some progress in career? The scariest thought for me is to be unemployed for few months after MBA.
3) I am from IT background. Mostly I have done IT consulting and project management. I would like to move into technology consulting. Most of top consulting firms have high tech consulting practice and I think I will be a good fit for that practice with my technology background, international exposure and IE IMBA. What do you guys think about my chances to get into consulting? Am I being unrealistic?
My profile:
IT Indian Male (IIM...so I am lucky to get into IE from such a competitive applicant pool)
GMAT : 710 (49/38)
WE : 8 years in IT. mostly in lead position. worked for Fortune 500 companies in India & US.
Post MBA : Want to move into technology consulting. As the saying goes 'aim for stars and you will at least land on moon'. I am aiming for McKinsey/BCG and hope to at least land into Deloitte/E&Y (no offence intended. I truly respect these companies too).
Please advise.
Thanks in advance!
Dilemma in accepting IE offer
Posted Jan 23, 2012 18:37
I received offer from IE IMBA April-2012 intake with scholarship. I understand that IE is one of the best school in the world and features among top schools in every MBA ranking. But I am in some dilemma about accepting the offer primarily due to financial reasons.
IE IMBA tuition fees + 1 year personal expenses costs around $100K. A whopping amount for someone like me. I understand that most of the programs in Europe will cost almost same. I am just worried about because,
1) difficulty for non-Europeans to get a job in Europe. Is it really bad for non-Europeans to get a job? I have worked in US for 4 years so want to know, how is the placement of IE graduates in NA? Do US companies recruit at IE for US market?
2) I am sure no one has $100K in account so everyone must go for some or the other loan option. Similarly I may have to take loan of $40K. This is a big financial responsibility for me, like almost everyone. Is it worth to take this much of loan for IE program? Will I at least get some job that will allow me to repay loan and make some progress in career? The scariest thought for me is to be unemployed for few months after MBA.
3) I am from IT background. Mostly I have done IT consulting and project management. I would like to move into technology consulting. Most of top consulting firms have high tech consulting practice and I think I will be a good fit for that practice with my technology background, international exposure and IE IMBA. What do you guys think about my chances to get into consulting? Am I being unrealistic?
My profile:
IT Indian Male (IIM...so I am lucky to get into IE from such a competitive applicant pool)
GMAT : 710 (49/38)
WE : 8 years in IT. mostly in lead position. worked for Fortune 500 companies in India & US.
Post MBA : Want to move into technology consulting. As the saying goes 'aim for stars and you will at least land on moon'. I am aiming for McKinsey/BCG and hope to at least land into Deloitte/E&Y (no offence intended. I truly respect these companies too).
Please advise.
Thanks in advance!
Posted Jan 23, 2012 21:45
hi,
well.. IE costs 60000e, leaving in Madrid won't cost you 40000e! (or are you a big spender??? :-)
By the way...you are indian, you work in US: why are you targeting a spanish school?
well.. IE costs 60000e, leaving in Madrid won't cost you 40000e! (or are you a big spender??? :-)
By the way...you are indian, you work in US: why are you targeting a spanish school?
Posted Jan 23, 2012 22:29
Thanks for your reply.
I am really a careful money spender if not a miser. But I was talking in US dollar terms. In USD terms IE IMBA fees is $80K and I assume living expenses of $20K (~15K euros) for a year.
Frankly, I did not apply to any of US schools because I have 8 years of experience and I am already past 30. A 1 year program suits me well so I can get back into workforce quickly. Plus European programs are 'relatively inexpensive'.
I am really a careful money spender if not a miser. But I was talking in US dollar terms. In USD terms IE IMBA fees is $80K and I assume living expenses of $20K (~15K euros) for a year.
Frankly, I did not apply to any of US schools because I have 8 years of experience and I am already past 30. A 1 year program suits me well so I can get back into workforce quickly. Plus European programs are 'relatively inexpensive'.
Posted Jan 23, 2012 22:32
I'm not an expert or a councellor but If I were you I'd try INSEAD (will cost the same.. and will give you much more chances in consulting)
Posted Jan 24, 2012 20:30
Posted Jan 24, 2012 22:23
Unless you speak Spanish and want to work in Latin America, don't study in Spain. Of course US firms recruit at IE, but for the Spanish-speaking world. Study where you want to work. There *are* one year MBAs in the US (Florida, Pittsburgh, the MSIA at Purdue etc) so if the US is your target don't go to Europe.
Posted Feb 03, 2012 11:45
I too don?t see any point in enrolling in Spain.
Posted Feb 03, 2012 21:37
I too don?t see any point in enrolling in Spain.
That's a rather sweeping comment. Graduates of the top Spanish business schools are earning great salaries in Latin America.
That's a rather sweeping comment. Graduates of the top Spanish business schools are earning great salaries in Latin America.
Posted Feb 03, 2012 23:19
I too don?t see any point in enrolling in Spain.
That's a rather sweeping comment. Graduates of the top Spanish business schools are earning great salaries in Latin America.
And there are niches in Spain where Spanish-speaking managers can make good money: the auto industry, hospitality/tourism as well. But I'd say that somebody who studies in Spain to work in Latin America is doing it backwards: there are some good, less expensive programs in Latin America that would probably be more appropriate.
That's a rather sweeping comment. Graduates of the top Spanish business schools are earning great salaries in Latin America. </blockquote>
And there are niches in Spain where Spanish-speaking managers can make good money: the auto industry, hospitality/tourism as well. But I'd say that somebody who studies in Spain to work in Latin America is doing it backwards: there are some good, less expensive programs in Latin America that would probably be more appropriate.
Posted Feb 04, 2012 00:21
Thanks guys for your perspective.
I made up my mind to join IE Nov intake. I spoke to IE alumni and current students. Almost everyone agrees that IE IMBA is indeed great program in terms of teaching quality, curriculum and international exposure. There is scope to improve career services. I believe US economy is already improving and may be in a great shape by the time I graduate. A stronger US economy will have positive effect on world economy including EU.
I agree with Duncan that Spain is not really the best option looking at the current situation. But I am sure it's economy and reputation of IE will improve even further by 2014. Fingers crossed :-)
I made up my mind to join IE Nov intake. I spoke to IE alumni and current students. Almost everyone agrees that IE IMBA is indeed great program in terms of teaching quality, curriculum and international exposure. There is scope to improve career services. I believe US economy is already improving and may be in a great shape by the time I graduate. A stronger US economy will have positive effect on world economy including EU.
I agree with Duncan that Spain is not really the best option looking at the current situation. But I am sure it's economy and reputation of IE will improve even further by 2014. Fingers crossed :-)
Posted Feb 07, 2012 18:34
But I am sure it's economy and reputation of IE will improve even further by 2014. Fingers crossed :-)
True, and 2014 is a long way off in terms of what can happen in Europe - I think a lot will be played out this year with all the upcoming elections.
And if it's the case that there's an upturn in Spain this year or next, you'll be at the ground floor of a potential growth spurt.
True, and 2014 is a long way off in terms of what can happen in Europe - I think a lot will be played out this year with all the upcoming elections.
And if it's the case that there's an upturn in Spain this year or next, you'll be at the ground floor of a potential growth spurt.
Posted May 27, 2018 09:47
Thanks guys for your perspective.
I made up my mind to join IE Nov intake. I spoke to IE alumni and current students. Almost everyone agrees that IE IMBA is indeed great program in terms of teaching quality, curriculum and international exposure. There is scope to improve career services. I believe US economy is already improving and may be in a great shape by the time I graduate. A stronger US economy will have positive effect on world economy including EU.
I agree with Duncan that Spain is not really the best option looking at the current situation. But I am sure it's economy and reputation of IE will improve even further by 2014. Fingers crossed :-)
Hi Praveen,
Interested to know how it worked out for you in terms of return on investment.
Please share your experience and details of achievements post MBA program.
Thanks.
I made up my mind to join IE Nov intake. I spoke to IE alumni and current students. Almost everyone agrees that IE IMBA is indeed great program in terms of teaching quality, curriculum and international exposure. There is scope to improve career services. I believe US economy is already improving and may be in a great shape by the time I graduate. A stronger US economy will have positive effect on world economy including EU.
I agree with Duncan that Spain is not really the best option looking at the current situation. But I am sure it's economy and reputation of IE will improve even further by 2014. Fingers crossed :-)[/quote]
Hi Praveen,
Interested to know how it worked out for you in terms of return on investment.
Please share your experience and details of achievements post MBA program.
Thanks.
Posted May 29, 2018 21:08
An MBA from IE generally leads to solid ROI (108% salary increase after three years, according to the 2017 FT MBA ranking.) But that depends on a lot of things - what industry / location you are interested in going into, primarily.
Speaking Spanish fluently would obviously help a lot with landing a job in the country after the MBA as well.
Speaking Spanish fluently would obviously help a lot with landing a job in the country after the MBA as well.
Related Business Schools
Other Related Content
Calling All German MBA Hopefuls: Join the e-fellows MBA Days in Frankfurt and Hamburg
News Oct 12, 2023
Iberian Dreams: MBA Programs in Spain
Article Dec 04, 2014
Leveraging entrepreneurship, Spanish business schools stay strong in the wake of the financial crisis
Hot Discussions
-
MBA Strathclyde vs Aston vs NTU
Apr 17, 2024 607 13 -
Oxford executive diplomas
Apr 01, 2024 264 9 -
Cambridge Judge vs RSM
Apr 09, 2024 267 7 -
Healthcare and finance
Mar 27, 2024 192 3 -
Any guesses as to why several schools are reporting big increases in applications?
Mar 30, 2024 230 3 -
Take GMAT again?
Apr 23 02:15 AM 85 3 -
City or Manchester for MiF?
Apr 09, 2024 142 1 -
Two MBAs for the price of one
Apr 12, 2024 196 1