Your MBA Career

It is never to early to start planning you career search Get familiar with the process: check yoour school’s placement office. Get all the material you can, meet the staff, and learn about their procedures. Don’t miss their workshops. Browse through ForeignMBA.com’s Getting a Job section: You will get a clear picture of what the process looks like, and what kind of resources are available. Talk to 2nd year MBAs: They will tell you what to expect, and will guide you through some of the important decisions. Plan your Curriculum: Although most schools impose a mandatory core curriculum, you should still start planning your future choices, as they can significantly impact your career search. Consider choices like dual degrees, taking courses at other schools and improving other language skills. Plan your extra-curricular activities: Joining clubs, student government and other organizations can improve your leadership skills and your resume. Start researching companies and careers: Begin with ForeignMBA’s Company Research section. Start putting together your resume: You have plenty of time before your polished resume is due for distribution by the Placement Office. However, you can start gathering your information and putting it all together. Have you considered entrepreneurship ? If this is something you are considering, you need to start working right ahead – you need to find other student’s with similar interests, find out about Business Plan competitions, and so on. Read full...

Your Health during the MBA

Staying healthy while in the US Insurance: Not only it is extremely important to have medical insurance coverage (medical treatment is extremely expensive in the US), but it is also a requirement for your student’s visa. The International office will recommend an adequate insurance program, and arrange the paperwork. Medical care: Make sure you understand who to turn to in case of a medical problem: If you have a life-threatening emergency, call 911 (anywhere in the US, anytime). They will contact the paramedics, police, or the appropriate person. If you have a medical emergency, go to the location recommended by your insurance plan – usually the University’s infirmary or the Emergency Room at the local hospital. For other consultations, your insurance plan should provide you with a list of physicians and/or nurses to visit. Food: One of the major complaints foreign students have is the food. Compared to other nationalities, Americans tend to eat more fast or junk food. However, with a little discipline, you can maintain a healthy diet: Ask about the University’s meal plans – they usually provide healthy, balanced food. Look for healthy food – most restaurants and supermarkets now offer healthy food choices (low fat, low cholesterol, low sodium). Do as much cooking at home as possible. Not only home cooked meals taste better, but are less expensive. Fitness: Staying fit is extremely important, even if the tight schedule seems to make it impossible. Fortunately, the MBA environment makes it relatively easy: Try walking or biking to school Participate in the B-School sports events Participate in University wide sports events (a typical US University has teams and facilities for most sports). Read full...

Your finances during the MBA

Taking care of your money while in the US Personal Finances Resources: Although it may not be very high in your to-do list, taking care of your personal finances is extremely important. The following sites should help: Understanding and Controlling Your Finances, by Marshall Brain Quicken.com The Money section at Edupass.org Financial Aid: Although limited for international students, new programs and opportunities are emerging to finance your MBA. Make sure you check regularly the Financing your MBA section and you keep in touch with the Financial aid person at your school. Keep in mind that new financing opportunities arise frequently when a country or region is going through a financial crisis. The checking account: The checking account and its ATM/Debit card are the center of your finances. Keep the following in mind: Consider online banking at Compubank. Online banking is convenient, safe and inexpensive. Other online banks include Net.B@nk. Check Gomez Advisor’s on-line Banking ranking If you still prefer old fashiones banking, choose a well known bank (FDIC insured), with a branch near the School or near home. Find an account offering automatic payments. This feature will let you pay your bills online, directly from your account, simplifying your finances significantly. Learn everything you need about banking @ bankrate.com Building credit: Credit is extremely important in the US, especially for young professionals.If you decide to stay in this country, you will need it for everything from financing your consumer spending (credit cards) to buying a car and a home. It is a must to build and keep a good credit standing. Once you get your social security number, every transaction involving some sort of credit will be monitored by credit bureaus. To build credit: start with a credit card...

Your first weeks in the US for an MBA

Before classes begin Find a place to live – if you have done so, check in at your new house. Sign the lease and move in. Check in with your school and/or International office. There is usually information you need to get, paperwork to fill, and so on. Locate and check in at your country’s nearest consulate. Find them at Foreign Consular Offices in the United States. They are the ones to contact for travel information, emergencies, voting, and so on. Arrange your medical insurance – at the International Office. See Your Health Arrange all the utilities: Power and water – usually just a phone call away. Often arranged by your lanlord. Phone – some local phone companies will want to verify your credit record. Since you probably don’t have one, you will need to fax them a copy of your passport. It will take a couple of days. Cable TV – will usually take a few days (or weeks!). Even more annoying – you have to be there for the installation, and they will tell you the day, but not the exact time they’re coming. Buy furniture and appliances. Before you buy, consider renting (e.g. furniture) and pay a visit to all the garage sales you can. Where to buy: Furniture.com Buy your B-School tools, books and supplies: Palm Pilot: An almost mandatory tool to keep up with contacts, interviews, and so on.   Palm IIIxe Our Price: $249.00 Palm Vx Our Price: $399.00   Computer: Although all B-Schools have big and modern computer laboratories, most students choose to buy one. With current prices, most students can afford it. Many schools now require students to have a notebook, which by the way are very useful. Computer: Dell Computers/Software:...

Before you leave for the US to get an MBA

What you need to do before you travel Read carefully (and save) the acceptance material sent by the B-School/University. It usually contains most of the information you will need to get settled, including travel information, Visa processing, housing details, and more. It should be your primary source of information. Pay the deposit to ensure your place. Visit the Campus if you didn’t visit it for the interview (and if you can afford it!). The earlier you visit, the better – you might be able to get the most sought after apartments. Many schools invite accepted students for a campus visit – it is very useful for networking, and also a lot of fun! Check the School’s web page regularly – many have a section especially designed for recently admitted students, where you can find plenty of useful and updated information. Talk to your friends, family and colleagues. Let them all know what you are up to, and strive to keep in contact with them. Remember, even if you are planning on working in the US, maintaining a network in your country is extremely important (e.g. you job in the US could be related to your home country). Try leaving your employer in the best terms possible, even if returning to work for them is out of the question. Get your Visa. This is usually pretty straightforward: you provide proof of having funds to cover for tuition and expenses, the University issues an I-20, with it you get your F-1 Visa at your local US Consulate. The Admissions office and/or the University’s International Center should be able to help with any exception and/or problem you might encounter in this process. Carefully plan your trip. A few things to keep in...

How much will your MBA cost?

The information you need to get a rough estimate The schools’ web-sites and application’s material should give you a very good idea of what to expect to spend for your MBA. Here is a very rough estimate (for the a 2-year full-time program): Min Range Max Range Comment Your Estimate Application $250 $700 Includes: GMAT, TOEFL, Application fees $ Tuition $20,000 $50,000 2 years at $10,000 – $25,000 $ Other Expenses $20 $200 Includes: registration and fees $ Books & Computer $1,000 $5,000 Notice many schools REQUIRE a Laptop $ Living Expenses $22,000 $66,000 Includes: housing, food and transportation (22 months at $1,000 – $3,000) $ Medical Insurance $1,000 $6,000 Notice it is mandatory for foreign students $ Internship ($24,000) $0 Your salary: 3 months at $8,500 – 0 $ Foregone Wages $24,000 $120,000 2 years at 12,000 – 60,000 $ TOTAL $44,270 $247,900 $ Other costs to consider: Traveling from and to your home country, calling your home country, moving expenses (or the cost of buying everything again), winter clothing, interviewing clothing, and so on. As you can see, the total cost of the MBA can vary widely from person to person. It basically depends on: The school you chose. See the different tuition and expenses costs for the top schools. The location. Living in big cities (New York, Chicago, Los Angeles) can make a big difference compared to small towns. Find out about the best places to live in the US, and compare the cost between cities, from Money magazine. Your lifestyle. Your intended lifestyle can make a big difference. Bringing partners (spouses, kids, etc), having a car, living alone or sharing an apartment, are decisions you will need to make. Read full...

Choosing the right school

Criteria you should carefully research before applying to a business school No single school is the best for everyone. The following are some of the criteria you shoul consider when choosing the school that’s right for you ACADEMICS Although many academic aspects are similar among B-school, the are some differences you should carefully research about: Case Study Vs Lecture Vs Practical Training: Most B-schools use a combination of the three, but some rely more heavily on one. Make sure you understand the three methods, which one you like best, and where the schools stand. Examples: Harvard and Virginia are almost 100% case studies, whereas Chicago and MIT are famous for being more lecture-oriented. Competitiveness Vs Cooperativeness: Most B-schools these days emphasize team-work. However, the environment in some of them put a lot of pressure on the individual to exceed. Some very competitive schools are Harvard and Chicago, whereas Northwestern, Duke and Dartmouth seem more cooperative. Concentrations: In most schools, you have to choose and stick to a particular concentration. While most offer Finance, Marketing and Operations, others are more difficult to find, like Management Information Systems, Human Resources and Health Care. Some schools, like Michigan, are very flexible in the concentration. Core courses: Some schools try to keep core courses to the minimum. Others have a full year and more. Some let you wave core courses based on previous school work or placement exams, others don’t. Electives: Take a look at the electives offered, and make sure they fit your requirements. Be aware that the most popular electives fill quickly, and it may be hard to get in. Faculty: Professors’ quantity and quality, as well as their dedication to teaching and research, can be an important criteria. Lookout to...