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Utsav
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What are mmy chances of gettinto inseaad & getting a job

Postby Utsav » Thu, 06 Mar 2014 11:48 pm

What is my chance of getting through INSEAD & getting a job in Singapore only?
Background: Age 31,will be 32 in January 2015 if I were to get in. GMAT Score 680. I've got a Masters in Finance & Accounting followed by a CPA. I've worked in two of the big four & now work in a bank.Career & salary are stagnating for the last two years hence I hope an MBA from INSEAD will help me land a high paying job. I won't do consulting as there's no life but something high paying will be good.
What are my chances? Also if I do my MBA how easy or difficult will it be for me to return to Singapore with a high paying job?
I hold an EP, btw my PR application has been rejected thrice, my salary is around SGD 100000.

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Postby Wd40 » Fri, 07 Mar 2014 12:16 am

Very recently I read a quote which I liked a lot:

If you are smart enough to earn an MBA, you are smart enough not to pursue one
:)

I would save the money instead and do something more constructive out of it.

http://globalislander.blogspot.sg/2014/ ... lemma.html

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the lynx
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Re: What are mmy chances of gettinto inseaad & getting a

Postby the lynx » Fri, 07 Mar 2014 8:55 am

Utsav wrote:What is my chance of getting through INSEAD & getting a job in Singapore only?
Background: Age 31,will be 32 in January 2015 if I were to get in. GMAT Score 680. I've got a Masters in Finance & Accounting followed by a CPA. I've worked in two of the big four & now work in a bank.Career & salary are stagnating for the last two years hence I hope an MBA from INSEAD will help me land a high paying job. I won't do consulting as there's no life but something high paying will be good.
What are my chances? Also if I do my MBA how easy or difficult will it be for me to return to Singapore with a high paying job?
I hold an EP, btw my PR application has been rejected thrice, my salary is around SGD 100000.


I don't want to be a downer but there is a Malaysian girl in one company I know of who studied MBA in Australia just to land a job as purchasing executive in a SME, being paid (God forbid) less than SGD4k per month.

The days of glorified MBAs have come to an end.

I'd suggest you look for greener pastures in other countries where you get higher paying job and more stability without wasting your time and money. By the time you re-enter working life after MBA, you'll find yourself competing against younger MBA holders.

Just my advice. I hope I'm wrong.

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Postby Wd40 » Fri, 07 Mar 2014 9:11 am

+1 to what Lynx said. You must know what you are trying to achieve before embarking on an MBA journey. Some people doing Engineering and then couple of years in IT and then do MBA to break into the financial world. Some people do MBA to get from like a senior manager level to a director level jump.

From your profile, you are already 31 and have a masters in finance and CPA and already into banking. After doing the MBA you are only setting yourself behind what you already are.

I would say that this is a phase where the banking industry is adjusting itself and lots and lots of experienced good people are going to lose their jobs and you just need to wait it out see through this transition. If you go and do an MBA there are already much more experienced people out of jobs in the market why would they hire an MBA fresher?

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Re: What are mmy chances of gettinto inseaad & getting a

Postby BillyB » Fri, 07 Mar 2014 9:16 am

Utsav wrote:What is my chance of getting through INSEAD & getting a job in Singapore only?
Background: Age 31,will be 32 in January 2015 if I were to get in. GMAT Score 680. I've got a Masters in Finance & Accounting followed by a CPA. I've worked in two of the big four & now work in a bank.Career & salary are stagnating for the last two years hence I hope an MBA from INSEAD will help me land a high paying job. I won't do consulting as there's no life but something high paying will be good.
What are my chances? Also if I do my MBA how easy or difficult will it be for me to return to Singapore with a high paying job?
I hold an EP, btw my PR application has been rejected thrice, my salary is around SGD 100000.


I'd start by asking your bank if they will support you on the course and if it will fast-track your career? But it's also worth bearing in mind that finance jobs are traditionally lower paid than other functions within a bank....

If you're doing an MBA for the sole reason of pulling in more money, in my opinion you're doing it for the wrong reasons. If you want to move into a leadership role, then that's a different story.

I wouldn't necessarily rule out consulting, but at a smaller, niche firm. Working for the big 4, with all the politics and process isn't for everyone, whereas smaller firms often pay higher for specialised knowledge / experience and offer a more hands-on and varied project environment.

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Postby Beeroclock » Fri, 07 Mar 2014 9:57 am

I'm also with lynx and wd40. I've seen research suggesting MBA from top tier school is a good investment but IMO it's a huge risk. The cost and time required huge.

What do you want to get out of it ?

1. Knowledge/skills: As per good will hunting, you'll drop a hundred and fifty grand on an education you could've got for a dollar fifty in late charges at the public library.

2. Networking: oft cited as the main benefit but I wonder how much tangible value it really creates, and also to the extent you can still network a lot without doing a MBA (try linkedin, colleagues, industry events, etc etc)

3. Upgrading your CV : Thhe crux of whether the "investment" pays off or not. Will your employer (both company overall and hiring manager) give weight to your MBA to award you the better job/ higher pay/more power etc etc that you hope for. As per BillyB, this is where it pays to get a specific steer in advance to at least reduce your risk. But if you are just hoping it will work out then I reckon the odds are stacked against. Employers are progressively valuing these qualifications less, and the supply of MBA graduates is more abundant nowadays.

Sorry my advice is on the negative side, but I've seen a lot of people left poor and frustrated after completing degrees (not just MBA's) so I think it pays to really think through the pros/cons and your motivations before embarking.

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Postby Wd40 » Fri, 07 Mar 2014 11:18 am

Also I wonder when you say salary stagnating at 100K. May be you have earned too much too soon, in your field. This article that I shared in the initial post tells that junior product control jobs earn like US$ 40-55k a year in Singapore.

I also make around 100k and I dont think I am worth that much in the current market conditions. Salaries dont necessarily have to always go up. Sometimes they go up too fast during boom times and due to the way the Singapore dollar has appreciated and you then need to readjust to the new normal.

May be you should consider internal mobility. May be relocate with your bank to a cheaper location like India or eastern europe where there are lots of potential for internal mobility and then you could build your career in a function thats growing faster.

You are already within the industry and there are lots of MBA grads out there who will be glad to be in your position.

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Postby midlet2013 » Fri, 07 Mar 2014 12:26 pm

One should study where one wants to work. If you can afford INSEAD, then why not study in a bigger economy.

Instead of trying to do everything to live in Singapore, do everything to succeed at what you do.

A degree wont get you a higher salary. Genuinely liking what you do and being good at what is a better way.

MBA is good if it adds value to you. If you just wanna buy a degree and think it will pay off, it may not.

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Postby Addadude » Fri, 07 Mar 2014 12:30 pm

Not to be too kaypoh (nosey), but I'm pretty sure the OP's wife started a related thread about a month ago.

Said thread got totally out of hand and was subsequently locked with some knuckle rapping from our esteemed mods.

Might want to be diplomatic with this one!
"Both politicians and nappies need to be changed regularly, and for the same reasons."

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Postby the lynx » Fri, 07 Mar 2014 1:04 pm

Addadude wrote:Not to be too kaypoh (nosey), but I'm pretty sure the OP's wife started a related thread about a month ago.

Said thread got totally out of hand and was subsequently locked with some knuckle rapping from our esteemed mods.

Might want to be diplomatic with this one!


I had my thoughts and you confirmed it!

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Re: What are mmy chances of gettinto inseaad & getting a

Postby rajagainstthemachine » Fri, 07 Mar 2014 1:29 pm

Utsav wrote:What is my chance of getting through INSEAD & getting a job in Singapore only?
Background: Age 31,will be 32 in January 2015 if I were to get in. GMAT Score 680. I've got a Masters in Finance & Accounting followed by a CPA. I've worked in two of the big four & now work in a bank.Career & salary are stagnating for the last two years hence I hope an MBA from INSEAD will help me land a high paying job. I won't do consulting as there's no life but something high paying will be good.
What are my chances? Also if I do my MBA how easy or difficult will it be for me to return to Singapore with a high paying job?
I hold an EP, btw my PR application has been rejected thrice, my salary is around SGD 100000.


Inferences:

1.You are 31 and almost middle aged and dying/dead

2. You have a bad attitude as you don't want to do consulting as there is no life... what a shame.. all those other consultants probably don't have it as good as you.

3. 100,000 yes you are stagnant, maybe you should just quit and fall and die on your sword and hang your head in shame..

4. your life is incomplete.. you haven't worked in two others out of the big four yet.


Conclusion:

you don't need an MBA, you need a carrot and someone to dangle it at the other end.
To get there early is on time and showing up on time is late

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Re: What are mmy chances of gettinto inseaad & getting a

Postby BillyB » Fri, 07 Mar 2014 3:09 pm

rajagainstthemachine wrote:
Utsav wrote:What is my chance of getting through INSEAD & getting a job in Singapore only?
Background: Age 31,will be 32 in January 2015 if I were to get in. GMAT Score 680. I've got a Masters in Finance & Accounting followed by a CPA. I've worked in two of the big four & now work in a bank.Career & salary are stagnating for the last two years hence I hope an MBA from INSEAD will help me land a high paying job. I won't do consulting as there's no life but something high paying will be good.
What are my chances? Also if I do my MBA how easy or difficult will it be for me to return to Singapore with a high paying job?
I hold an EP, btw my PR application has been rejected thrice, my salary is around SGD 100000.


Inferences:

1.You are 31 and almost middle aged and dying/dead

2. You have a bad attitude as you don't want to do consulting as there is no life... what a shame.. all those other consultants probably don't have it as good as you.

3. 100,000 yes you are stagnant, maybe you should just quit and fall and die on your sword and hang your head in shame..

4. your life is incomplete.. you haven't worked in two others out of the big four yet.


Conclusion:

you don't need an MBA, you need a carrot and someone to dangle it at the other end.


Say what you really think next time!

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Postby beppi » Fri, 07 Mar 2014 4:12 pm

The best (probably only) way to advance in a career is to be good at what you're doing.
To achieve this, money is probably the worst motivator, as it always only lasts a short while before you get used to it and see others who earn even more.
A much better way is to like what you do.
So, do you LIKE to learn the methods of business administration through an MBA?

I personally thought about the same, too, and although I am quite interested in these topics, I decided that right now, I prefer to do what I am best at (and that is not studying). I can always enter an MBA course later, if I still want to (FYI: I am 47 years old, and not mainly motivated by money).

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Postby Beeroclock » Fri, 07 Mar 2014 5:00 pm

Lots of good advice and mostly consistent themes.

I reckon of all the degrees though, MBA likely has the highest proportion of people doing it not because they have a genuine passion/interest/excitement in business administration, but purely for money/promotion/status reasons.

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Postby Wd40 » Fri, 07 Mar 2014 8:32 pm

beppi wrote:The best (probably only) way to advance in a career is to be good at what you're doing.
To achieve this, money is probably the worst motivator, as it always only lasts a short while before you get used to it and see others who earn even more.
A much better way is to like what you do.
So, do you LIKE to learn the methods of business administration through an MBA?

I personally thought about the same, too, and although I am quite interested in these topics, I decided that right now, I prefer to do what I am best at (and that is not studying). I can always enter an MBA course later, if I still want to (FYI: I am 47 years old, and not mainly motivated by money).


Beppi, excellent post. The key thing is to get to the stage where you are not motivated by money and that is actually a state of mind. Different people take different amounts of time to get there. Its also about being content with what you have. I am glad I have got to that state of mind now(I am aged 34 btw).

Liking what you do is again a very relative thing. The 1st job that I worked in was in a call centre. I clearly hated it. I hated the fact that I had to wear a headset and listen to customers complaints for 8 hrs. I probably hated it because I knew I can do better than that. Now I am IT and it was dream to get into IT and the fact that I got into it and was able to just last there for this long has made me content enough. But I know plenty of my colleagues who are not as content. They are hungry for more and they think being a developer for like even 5 years is a big disgrace.

So its a very philosophical thing and I guess I need to be older to understand it.


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