Good morning!
The decision to do a Master’s or an MBA is an expensive one.
All this week I’ve been thinking about a strange comparison - LVMH and Harvard Business School.
LVMH Moët Hennessy Louis Vuitton commonly known as LVMH, is a French multinational holding company and conglomerate specializing in luxury goods. They own luxury brands like LV, Tiffany, Dior, Bulgari etc. The usual suspects.
So why was I thinking of Harvard and Louis Vuitton??
One is a luxury brand, and the other… is also a luxury brand. Higher education is not seen as a right anymore. It is a luxury, one few can afford. In the past five decades, the price of college has risen 1,600%. Meanwhile, sub-10% acceptance rates are viewed as a feature not a bug.
Exorbitant prices. Exclusive customer base with high barrier to entry. Sounds familiar?
Universities are unfortunately becoming more and more like luxury brands.
They are focused too much on attracting only a certain clientele under the garb of meritocracy and not enough on teaching the maximum number of people. The question facing higher education is not "Who?". It’s "How Many?". The answer should be … "More." Specifically, lower cost, increased volume
Unfortunately, the ridiculous pricing of Master’s and MBA programs has reached Indian shores as well. This is what we shall touch upon in this edition along with how to choose a master’s program!
Let’s dive in 🤿
🚨 Notable upcoming deadlines 🚨
Round 1 deadlines for top MBA programs are literally 50 days away (September)
Round 2 and deadlines for 2025 Masters programs are 150 days away (December)
IMD Switzerland → 15th August
HEC Paris → 19th August
Cambridge → 27th August
Considering applying for 2025 or 2026 intake?
Are Indian MBAs too expensive?
It costs > 40Lacs to study at ISB. 25-30 to study at IIMs.
The cost of MBA in India is ridiculous!
This is at par with global standards - NUS in Singapore costs ~40L. Oxford costs ~70L.
I’ll demonstrate how insanely ridiculous this is with GDP per capita - India’s GDP per capita is USD 2410. Singapores GDP per capita is USD 82807.
34x.
Education costing the same in such economically disparate countries is crazy.
So then the following questions arise -
1. Is the quality of education and the MBA experience at indian schools at par with global standards?
2. Are the student outcomes at indian schools at par with outcomes at top schools abroad?
My opinion is that the quality and mba experience of international mba programs is miles ahead of indian counterparts.
But when it comes to outcomes there’s room for nuance - if your goal has always been to stay in india and build a career here then the Indian b-schools are a better fit. Especially if you have less than 3 years work experience.
But if you want international exposure, actual diversity and international opportunities- there’s no question. You should apply outside.
The truly unfortunate part of all this is that anyone who can’t afford international MBA programs is effectively being priced out at indian business schools as well.
It’s just too damn expensive.
How to choose the right Master’s 🎯
Choosing the right master's program is a significant decision and a daunting task that can impact your career and personal growth. There are many factors to consider, such as your career goals, area of expertise, and the cost of tuition. However, with a bit of research and soul-searching, you can find a program that’s right for you.
Here are a few tips to help you choose the right master’s for you:-Â
1. Self-Reflection - When thinking about pursuing a master's degree, it's essential to start with some self-reflection. Take the time to understand your career aspirations, and strengths, and assess where further education could benefit you. Reflect on whether you want to advance in your current field, change careers, or specialize further.
2. Research Extensively - After that, it's time for extensive research. Look into a wide range of programs offered by different institutions. Check online and offline reviews, and have conversations with alumni to get a feel for the programs. It's important to research the curriculum, course offerings, and specializations to ensure they align with your interests and goals.
3. Align with Career Goals - Next, make sure the program aligns with your career goals. Look at the profiles of past graduates and where they are now. Consider the program's specialization areas and whether they are relevant to your field.
4. Evaluate Program Structure and Flexibility - Consider the program's duration, course requirements, and whether it offers the flexibility to design your own curriculum. It's also crucial to consider whether the program offers part-time or online learning options, especially if you have other commitments.
5. Consider Cost and Financial Support - Calculate the total cost of the master's degree, including tuition, fees, books, and living expenses. Investigate whether the institution offers scholarships, financial aid, or alumni discounts. It's important to weigh the potential return on investment against the cost of education.
6. Investigate Faculty and Class Size - Research the faculty members and their expertise. Consider whether smaller class sizes and lower student-to-faculty ratios would result in a more engaging learning environment and provide more personalized attention.
7. Look for Internship and Networking Opportunities - Check if the program offers internships, industry connections, and professional development workshops. These opportunities can provide practical experience and help you build a strong professional network, which is invaluable for your career growth.
In conclusion, choosing the right master's program requires careful consideration and thorough research. It will be your terminal (final) degree in all probability- do it from the right place and for the right reasons.
What are we reading at Base Camp?
Book - Invisible Women by Caroline Criado Perez - From economic development, to healthcare, to education and public policy, we rely on data to allocate resources and make crucial decisions. But because so much data fails to take into account gender, because it treats men as the default and women as atypical, bias and discrimination are baked into our systems. And women pay tremendous costs for this bias, in time, money, and often with their lives.Perez investigates the shocking root cause of gender inequality and research in Invisible Women​, diving into women’s lives at home, the workplace, the public square, the doctor’s office, and more.
How Birkenstock became India’s Bata- In just five years, Birkenstock—once labelled as "ugly"—has become one of the fastest-growing footwear brands in India, with FY2024 sales reaching Rs 200 crore.
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See you next month!
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