Friday, July 25, 2008

US MBA - One year Vs. Two year, Finance, Reco letters

I have attended informative session conducted by Duke university's Fuqua school of business over the weekend in Pune, India. I got a chance to interact with Alumni and School's Regional Directors for India. Following were the important points which I inferred from that session:

One year Vs. Two year MBA :
If you are looking for the career switch then you should better be looking for 2 year MBA program. For example, if you want to switch your career from Software Engineer to Market Analyst then you need to significant amount of time in business school to learn all the concepts of the area you want to be in after the MBA. Two year programs usually have an internship where the actual career switch might happens. In second year of MBA, you will have internship where you put the concepts which you have learnt into application. In many cases, you may be getting an offer from the company where you did your internship. If you want to enhance your current profile then one year MBA may be the good option. In case you want to be in the same career path but looking for improvements then programs like One year MBA, Executive MBA, etc seems to be the better option. Of course, this my personal opinion.

Financing your MBA:
Two year MBA in a decent college may cost you around $90,000. If you got into good university, you are not required to worry about these expenses as you can easily get the loan. Most of the universities have contacts with the banks and you can get the loan as soon as you reach the campus. For the amount of $900000, you may required to pay an approximate EMI of $550 for 20 years. In your I-20, you can just mention that you will be taking loan to finance your MBA. If you get a cosigner who is US citizen or permanent resident then you can get the loan for cheaper interest rates.

Recommendation Letters:
You are required to submit two recommendation letters from your profession. One of them should be from your immediate supervisor/manger. If you can not get reco from your immediate manger for the reasons like current job security, company not encouraging higher education, etc. then you need to give proper justification for the same. In case you want to submit more than two recommendation letters then you should check if it's really adding a value. I got the positive answer for my question - Can I submit reco letter (in-addition to two recos from my profession) from my professor for the Teaching Assistant-ship which I have done during the MTech.

Miscellaneous:
University may ask you to take TOEFL exam to evaluate your interpersonal skills, language skills, etc. You may be called for an interview to test the same. If you have multiple GMAT scores then you need to mention which one you want the university to consider.

Tuesday, July 08, 2008

What is First name, last name and mother's maiden name ?

I have seen people getting confused about naming conventions in applications, etc. Here is brief discussion about standard naming convention...

Last name indicates the family to which the person belongs, also called as family name. Depending on the culture, family name may appear in last part of a person's name or in first part of the person's name.

First name is a name given to a person, as opposed to an inherited one such as a family name.

Mother's maiden name is family name of the mother prior to her marriage. And "married name" is name after her marriage. Lot of firms use "mother's maiden name" as a kind of password.