Should I Try I-Banking/Management Consulting in India?
So basically, if I don't get anything over here in the states, do you think it might be worth trying to do banking at a big firm in India, getting an MBA, and then working in the states? I have relatives that may know people with good jobs in India, but my networking is very limited over here (especially since I'm at a non-target), so could this be acceptable? Is it any less competitive over there vs here? I don't care about compensation, I just want to get in somehow, even if it means going abroad. Another advantage of this is that my friends, who attend good targets (I know people at Wharton Jerome Fisher, Columbia, UPenn, etc.) and are a year behind me will be higher up on the corporate ladder and may be able to help me network into a bank at the states.
So do you think this is an acceptable path, or will going abroad hurt me for MBA admissions therefore destroying my plan?
Jerome Fisher?
http://lmgtfy.com/?q=upenn+jerome+fisher
I would question what you would learn in an Indian firm, though MAYBE an Indian office of a US firm. Also the culture and environment is VERY different to the USA. Not to mention language issues, though you mention connections through relatives, so language may not be an issue?
Also, I don’t know how much benefit you would get from experience in India when you try to transition back to the US. I think you would do much better focussing on US opportunities, even if they are thin on the ground.
Indecently, I worked with a woman who was born in Australia to an Indian family. A couple of years ago she decided to do a “roots” style visit to the “home country”. She went there with high hopes, but hated her time there and cut the trip short. Just highlighting that it’s a very different experience to a first world, western country.
Well when I mean an Indian firm, I mean, for example, Goldman Sachs in Mumbai, or McKinsey's office in Mumbai, not some random Indian boutique. I realize that cultural differences will be there, but isn't that part of the experience/fun? Language won't be an issue because everyone who's anyone knows English in India, and I can communicate well enough in Hindi that it won't be an issue.
I'm definitely looking for US opportunities first, but there is no guarantee that I'll get them, which is why I'm seriously considering this option as a backup. Plus, with the regulations to the financial industry and the fact that India is an emerging market while the US is falling, it might be a good experience for me. Also, my parents are looking to move back to India, and I want to reconnect with my relatives there, so I wouldn't be completely unhappy if I were stuck there for my career either.
Recognise your point about US firms in India, but they will still have a very different culture / approach / deal flow, etc than a US office. If you see that as “part of the fun” then that’s great. In terms of leveraging this time in India into a US opportunity, I think you will find it tough going. But if you want to fill some time and have fun, then enjoy it by all means.
language should not be an issue since almost everyone of your concern would speak English in addition to Hindi...and if you are confident of getting offers at Goldman /McKinsey then u can consider taking those..later you can pursue a top MBA in USA or in India at Indian School of Business where major I banks recruit for their US offices...many Indians get similar experience and come to the states for MBA and land a job ... As to how competitive it is over there..pretty much the same..unless you are from a top college in India or have some great connection, its pretty difficult...but an American education is regarded highly
see this guys profile..he didnt even have a conventional pre MBA experience for Ibanking http://www.linkedin.com/pub/anant-gupta/7/7b/b8
may be top mba is the key
I can assure you that getting in GS/MS or MBB in India will just be as tough.
Dont for one minute think that it will be a "back-up"
You should start researching the ppl that work there. I can guarantee that a large number go to target univs here in the states and this trend will only increase.
work hard in your studies and focus on your goals is the best advice I can give you. There is no short-cuts.
I suppose, but the only reason "target" really makes a difference here is because of the contacts you get (at least from what I've seen). I agree that in general, the best ivy leaguers are smarter than the best state schoolers, but I think that the the top state schoolers can easily compete with the average ivy leaguers. The problem is, people like me don't have the contacts, and our career services are of no use, which makes it very difficult to break in. I realize that this route isn't necessarily a "short-cut" but I'm really starting to believe this is my best option since I have the advantage of the network over there.
That's why I was thinking about giving India a shot since I have relatives there who just might be able to help me and, while target schools would be appreciated there, I get the sense that its less of a big deal. As someone mentioned, people think highly of American education in general, and, since the pay is not as good as the US, it should be slightly (even if its not a huge difference) less competitive since a lot of the smart internationals all try to make it in the US. Plus, as I said before, compensation isn't a big deal to me. I'd work 80 hr weeks for 30k base and no bonus at GS or any BB because I want to break in and could care less about money initially.
I realize that this isn't necessarily ideal experience for MBAs since they usually take US GS/McKinsey dudes, but I'm hoping I can leverage this as international experience, which will make me stand out a bit from the typical US guys. Finally, I have been to India, I agree its a totally different lifestyle, but again, I don't see why one shouldn't try something different. In my mind, it will be a good experience, I'll have relatives to support me, and plus, not everywhere in India is a slum. There are good areas, and very rich people there, its just that because the distribution of wealth is horrendous, you notice the slums a lot more.
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