A casual remark by an acquaintance of mine on a late Friday evening after yet another depressing week at work had me ponder over my age old conundrum of whether to do my MBA or not.. She was mentioning about how she felt that I should actually go for my MBA as I was still young. (Glad to know that pretty women think I look young but that’s not the point of this blog and will save it for another day).
I have probably thought through this as often as left threaten to withdraw support to the government and have been discussing this with my dearest and nearest ever since I finished my CA. I have always wanted to do an MBA. I have never really known why but it just sounded pretty cool when I was a kid. Given that I grew up playing cricket it could also have been because it meant that I can push taking that all important career decision a few years later in life and be the care free lad that I grew up to be. Sometime during my high school, it suddenly struck me that my family had no Accountants and I would do really well to be the first one in my family. I could also prove a point to all those souls who have always believed I would turn out to be this good for nothing spoilt brat. Nothing has given me more pleasure than proving people wrong! So CA it was once I finished high school. (See the pattern, I have made all important choices in my life for the wrong reason! Hey but I turned out fine so you can’t blame me).
I finished my CA and got my dream job with Citi with a pay that a fresher can only dream about. More importantly Citi was a supposed to be a day 1 placement with the top management institutes. (Also my mom and dad are bankers so I keep thinking banking is in my blood!). So I postponed my MBA for a few years for I wanted to get some work experience.
I have always thrived in life with the help of a few sounding boards in my life. These are people who are pretty close to me or I have a lot of respect for these individuals. For eg. SJ/RM/BN from Citi,my mom/T/B on the personal front and to a lesser extent R in Bermuda. SJ who I consider as a mentor always keeps insisting that a CA should not do an Indian MBA as the value of an Indian CA and MBA is not linear. He is so convincing that he sold that argument to me. (After 5 years I believe he couldn’t have been more right- The man is unbelievable). I have to make a mention that T and my mom have always wanted me to do an MBA.
Another pertinent thing is the mortgage that I have. I didn’t want to buy a property in 2004 as I was still harboring my MBA dreams but mom and dad were quite insistent that we had to buy a property (To be fair to them they had no clue about my dreams). I did end up getting a property the value of which has gone up by atleast 3 times. In hind sight it is probably the best decision I have ever made or my dad has made for me. But the fact that I am still in debt keeping playing in mind that I don’t have the guts to quit my reasonably paying job (Trust me its never enough!) as it gives me that security that I long for.
Another issue which might seem pretty trivial to most but is ultra important to me is the fact that I have always wanted to quit active employment at 40. I have for long periods of time not been sure about what I wanted to do when I will do after retiring from active employment and was thinking about starting a sports consultancy company. Now I have a more concrete plan as in I want to start a NGO. The whole point being I can’t afford to quit my job and lose 3 years of income and still retire at 40.
It’s been 5 years since I started working and I have still not been able to make up my mind. Maybe I will find some other wrong reason which will actually push me over the line and I will end up doing my MBA. Here’s to looking for that reason!
Cheers
S
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6 comments:
After my Masters, I thought that was the last of the formal degrees that i will ever be studying for. But to be frank, in the last year of so, I have been entertaining thoughts of doing an MBA.
As for where and why - I believe an MBA is more of what we as students can take out of it rather than what an institution has on offer. So i wont be too bothered about where I do it from. And another things for sure, if and when i do an MBA, it will be Part time, outside of work and not by giving up my job. The simple reason being that i believe theres a lot more to be learnt in 2 years on the job, than an MBA can offer.
On a lighter note, I always feel "Edhukku Yembi Yembi A padikanum".
Its never too late! Am contemplating one too, but not before that sense of financial security that i have been lacking all along gets achieved. I've a mortgage too and a few smaller loans and my dad is retired and mom is inching to take a voluntary with no sizeable settlement to cover the loans
But one thing i recently understood is that its never late. My cousin is 29 and she got married abt 20 months back. They spent a neat year going around the world and living life. Her hubby is now doing MBA and she's working. She's cotemplating hers a few months after he completes. Its hell to live apart and meet weekends and run a marriage. But if it is to do an MBA its still not too late.
We do have a lot of time. Unfortunately it matters if you wanna settle down at 40 and then work at ur own pace. U for long know that i've been one of those who harbour the same feelings and is trying to get there! MBA helps u get there faster and if you're doing it for the money, where u do matters.. If ur doing it for ur "betterment as a person of mutitudinal capabilities" it really doesn't coz just coz ur in H or S u can't become one unless u try
Pramod,
A completely different perspective to MBA and need to do it. Interesting!
Dhindal,
The need of personal enrichment is hindered by the fact that I want to retire early. As explained the money factor is big too
I think it matters where you do MBA from, the greater the institution the better it is. I did not gain much from my MBA apart from interpersonal and presentation skills. You also have an option of your employer sponsoring your MBA especially in the US (but no under the current circumstances)
As my MBA friends would suggest, I think the MBA degree is essentially a waste of time...but of course, that is a very strong personal opinion! I think that management skills to some extent are in-born & come with experience, not so much studying or reading articles. Likewise, same with marketing/sales skills...you can have all the theories in the world but if you cant relate to the people, it is pointless really! But then again, I prolly have spent enough time listening to mgmt consultants' bull*hit and HR initiatives the last year or so (due to our company being taken over & commencement of integration activities) so I am probably very cynical indeed! Retiring at 40 is ambitious, lets see in 15 years time...although more shrewd investments may ensure your dream becomes a reality!
My 2 cents on this S :-
1. yes, I do agree with SJ in some respects; especially, now after a brilliant stint o/s India, I think you are just RIGHTLY poised for an Intnl MBA.
2. As for the House Loan, I think considering your moolah, it must be a breeze. I don't think that must quite stop you from considering a MBA
3. If you are in a hurry! and don't want to SPEND 2+ years on MBA< then you are still well poised for a 10 Mth progm from INSEAD; They will really VALUE your Intnl experience; That way, you get to both finish early and get back to industry and also tink of retiring early;
4. I too believe that you must STRONGLY consider an MBA at this juncture - a. you are very young, b. you have a lot to show in terms of academic potential, achievemet, intnl wkex + the CFAl Honestly, think you will sell like hot cake! esp after MBA, not to deny that you won't now!!
5. as for retirement at 40, I think that's still possible as you are only in your mid twenties. ALso, may be sensible to align your MBA from thr long term if you really look to do NGO stuff. perhaps you could consider studying Social entrepreneuship; However, I don't know how you'd like to spend the next 15 odd years then! your call there
Best wishes always.
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