Dilemma about whether to pay deposit fees now or delay it

samco.me

12 24

Posted Mar 23, 2020 18:09

In light of recent Corona outbreak, I have tough decision to make about reserving seat at either BU, Cranfield or IE within given time.

A lots of current international students of US and European schools are coming back home, relying on online study mode. Not sure how much of this and direct impact due to Coronavirus spread is going to affect the coming Sep 2020 batch. There no communication yet about this from any of the schools I got selected into.

Like many other, I too have started to suffer because of declined sales in our retail family business. Moreover, now that the stock markets are recording new lows every passing day and a recession couldn't be denied in coming months, I am not sure if its wise to freeze significant amount of money as deposit to secure admission in these colleges. I am hoping to write to them to allow me more time to deposit this amount. Will it affect my admission?

Please advice what should be the right strategy for me to proceed further. Cranfields deadline is tomorrow and for IE its 17th April. For Cranfield I am yet to submit IELTS score as well, but Corona thing has prevented me from taking it due to restrictions imposed by Indian gov.

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Inactive User

728 405

Posted Mar 23, 2020 18:19

Delay.

Ask all those schools for an extension.
All the govt agencies in US, Canada and India have extended Income tax returns, mortgage payments (deferred), interest rates have been slashed not to mention closed borders in US/Canada/India/Spain/France etc..

Don't depart with your money now, unless you get a clear picture of macro economic conditions by end of April. Any currency conversions from INR to the likes of USD or Euro will be costly for you. Keep a track of Fx rates.

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samco.me

12 24

Posted Mar 23, 2020 18:28

Delay.

Ask all those schools for an extension.
All the govt agencies in US, Canada and India have extended Income tax returns, mortgage payments (deferred), interest rates have been slashed not to mention closed borders in US/Canada/India/Spain/France etc..

Don't depart with your money now, unless you get a clear picture of macro economic conditions by end of April. Any currency conversions from INR to the likes of USD or Euro will be costly for you. Keep a track of Fx rates.

Shoud I simply ask them to consider extension on account of border closure?

[quote]Delay.

Ask all those schools for an extension.
All the govt agencies in US, Canada and India have extended Income tax returns, mortgage payments (deferred), interest rates have been slashed not to mention closed borders in US/Canada/India/Spain/France etc..

Don't depart with your money now, unless you get a clear picture of macro economic conditions by end of April. Any currency conversions from INR to the likes of USD or Euro will be costly for you. Keep a track of Fx rates.[/quote]

Shoud I simply ask them to consider extension on account of border closure?

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Inactive User

728 405

Posted Mar 23, 2020 20:07

yes

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Duncan

14.013 15.475

Posted Mar 23, 2020 21:32

The online MBAs looks really attractive right now.

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Inactive User

728 405

Posted Mar 23, 2020 23:28

The online MBAs looks really attractive right now.

True, I think covid19 will accelerate the consolidation. I believe the market has changed. 2 year full time MBA formats are hard to sustain by schools outside of say US top 30.

Students (and markets) are realizing value of 1 year specialist courses like MS in Analytics. Students are also taking the opportunity cost of 2 year full-time format seriously. Without the foreign students paying top dollar - there will be a definite consolidation. Domestic students will not pay top dollar at the same time as the college needs to pay top dollar to retain good faculty. Many fulltime MBAs have shut shop since 2015, the trend will continue.

[quote]The online MBAs looks really attractive right now. [/quote]
True, I think covid19 will accelerate the consolidation. I believe the market has changed. 2 year full time MBA formats are hard to sustain by schools outside of say US top 30.

Students (and markets) are realizing value of 1 year specialist courses like MS in Analytics. Students are also taking the opportunity cost of 2 year full-time format seriously. Without the foreign students paying top dollar - there will be a definite consolidation. Domestic students will not pay top dollar at the same time as the college needs to pay top dollar to retain good faculty. Many fulltime MBAs have shut shop since 2015, the trend will continue.

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Duncan

14.013 15.475

Posted Mar 24, 2020 11:51

Yes. Thinking about this a bit more deeply, there will be more responses that just flipping to online. I think the schools in places that showed the ability to act fast and reopen universities become attractive. Hong Kong and Singapore look very attractive right now, and I would imagine that schools there (Insead, Chicago, ESSEC, EDHEC, Manchester, SP Jain. Strathclyde, Birmingham etc) could look into starting at least some full-time students on-campus at satellite campuses.

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Inactive User

2.941 1.801

Posted Mar 25, 2020 13:54

And in the end even without all of the covid19 issues, it's probably still more cost-effective for schools to run courses online, anyway.

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samco.me

12 24

Posted Mar 25, 2020 15:08

Even if reputed MBA programs bring online courses at par with the Full-time courses and new candidates begin to prefer it, will they be able to compete with full time MBAs in global job market at the moment?
More importantly, will companies prefer them over conventional MBAs. Will industry or function change remain a possibility then?

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Larry

556 212

Posted Mar 26, 2020 16:40

In some industries, yet.

But for MBA-heavy industries like consulting and finance, the hiring chains are well-established through full-time, in-class programs. I don't think that these will be replaced, or anyone will even consider that they are threatened, no matter what happens in the coming months.

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samco.me

12 24

Posted Mar 26, 2020 17:07

In some industries, yet.

But for MBA-heavy industries like consulting and finance, the hiring chains are well-established through full-time, in-class programs. I don't think that these will be replaced, or anyone will even consider that they are threatened, no matter what happens in the coming months.

Outside of these two most streams, what about other MBA relevant industries like SCM/ Operations or Coprorate management seeking General Management

[quote]In some industries, yet.

But for MBA-heavy industries like consulting and finance, the hiring chains are well-established through full-time, in-class programs. I don't think that these will be replaced, or anyone will even consider that they are threatened, no matter what happens in the coming months.[/quote]

Outside of these two most streams, what about other MBA relevant industries like SCM/ Operations or Coprorate management seeking General Management

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Duncan

14.013 15.475

Posted Mar 28, 2020 17:08

I don't see any way that online MBAs will equate the full time MBAs, for the reasons Larry describes.

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Inactive User

2.941 1.801

Posted Mar 30, 2020 15:43

In some industries, yet.

But for MBA-heavy industries like consulting and finance, the hiring chains are well-established through full-time, in-class programs. I don't think that these will be replaced, or anyone will even consider that they are threatened, no matter what happens in the coming months.

Outside of these two most streams, what about other MBA relevant industries like SCM/ Operations or Coprorate management seeking General Management

Those aren't really industries but functional roles within businesses.

In these cases, it would depend on each individual industry / company. Fortunately, you can do some research on sites like LinkedIn and company websites to get a sense of their recruiting cycles and maybe even venues.

In general though, for the industries that heavily recruit MBAs, they tend to do so from the in-class programs.

[quote][quote]In some industries, yet.

But for MBA-heavy industries like consulting and finance, the hiring chains are well-established through full-time, in-class programs. I don't think that these will be replaced, or anyone will even consider that they are threatened, no matter what happens in the coming months.[/quote]

Outside of these two most streams, what about other MBA relevant industries like SCM/ Operations or Coprorate management seeking General Management [/quote]
Those aren't really industries but functional roles within businesses.

In these cases, it would depend on each individual industry / company. Fortunately, you can do some research on sites like LinkedIn and company websites to get a sense of their recruiting cycles and maybe even venues.

In general though, for the industries that heavily recruit MBAs, they tend to do so from the in-class programs.

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