Should I accept or Let it Go ESCP MBA

Imnobatman

5 10

Posted May 14, 2023 18:43

Hi Everyone,

I'm in a sheer dilemma , I have paid the deposit i.e 5000 euros for the ESCP MBA . I come from India, and I do have a work experience of 7.8 years , which is into sales & marketing.

My post MBA career goal is to work for start-up's more into health care technology & ecommerce or logistics. I have also got some scholarship from ESCP . Here is my question, when I looked into the alumni's of the current batch on Linkedin , hardly anyone has got internships or placements. As I had opted for a loan from prodigy (the debt burden will be approx 50k USD), the feedbacks are giving me chills. When I had initially got the ESCP offer , I was elated however with the performance of the placements are giving me a scare. This is making me think , are the FT rankings even for real ? As I come from a non-tech background, I will be looking for roles in operations. I speak B1 French.

Could you pls advise ? Or should I again work for another couple of years and look for an MBA again ?? My target countries are France / Germany / Singapore.

I'm seeking for some guidance here.

Much thanks in advance

[Edited by Imnobatman on May 14, 2023]

Hi Everyone, 
 
I'm in a sheer dilemma , I have paid the deposit i.e 5000 euros for the ESCP MBA . I come from India, and I do have a work experience of 7.8 years , which is into sales & marketing.  
My post MBA career goal is to work for start-up's more into health care technology & ecommerce or logistics. I have also got some scholarship from ESCP . Here is my question, when I looked into the alumni's of the current batch on Linkedin , hardly anyone has got internships or placements. As I had opted for a loan from prodigy (the debt burden will be approx 50k USD), the feedbacks are giving me chills. When I had initially got the ESCP offer , I was elated however with the performance of the placements are giving me a scare. This is making me think , are the FT rankings even for real ?  As I come from a non-tech background, I will be looking for roles in operations. I speak B1 French.  
 
Could you pls advise ? Or should I again work for another couple of years and look for an MBA again ?? My target countries are France / Germany / Singapore. 
 
I'm seeking for some guidance here.  Much thanks in advance

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Duncan

14.013 15.475

Posted May 14, 2023 21:06

The current batch, I.e. the people who are studying?

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Andy776

256 121

Posted May 14, 2023 22:52

Without french, surrender in France or you will have to go back to India.

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Imnobatman

5 10

Posted May 15, 2023 07:25

The current batch, I.e. the people who are studying?

@Duncan - Yes, the current batch just got over with their classes (it's been a month). After having spoken to multiple people in the current batch, all are in the same boat. Thats where I'm freaking out. Some are saying Europe is going through a small recession hence this is the condition. Hence I am looking expert suggestion. I have noticed they don't return the deposit, in that case it will be a loss for me.

My goal after MBA is to work in the Europe for 5 years.

Or should I again go back and work for another two years to and re-apply to other schools. I'm 31 now.

[Edited by Imnobatman on May 15, 2023]

[quote]The current batch, I.e. the people who are studying?  [/quote] @Duncan - Yes, the current batch just got over with their classes (it's been a month). After having spoken to multiple people in the current batch, all are in the same boat. Thats where I'm freaking out. Some are saying Europe is going through a small recession hence this is the condition. Hence I am looking expert suggestion. I have noticed they don't return the deposit, in that case it will be a loss for me.  My goal after MBA is to work in the Europe for 5 years. Or should I again go back and work for another two years to and re-apply to other schools. I'm 31 now.

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Imnobatman

5 10

Posted May 15, 2023 07:29

Without french, surrender in France or you will have to go back to India.

Could you please advise on my situation , as I have paid the deposit . Thats where my pain point is of loosing out on money. The other option is to work again for 2 years and get back to GRE / GMAT. Do you think WHU / ESMT , would be better schools ?

[quote]Without french, surrender in France or you will have to go back to India. [/quote] Could you please advise on my situation , as I have paid the deposit . Thats where my pain point is of loosing out on money. The other option is to work again for 2 years and get back to GRE / GMAT. Do you think WHU / ESMT , would be better schools ?

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Duncan

14.013 15.475

Posted May 15, 2023 11:30

I think the big question here is the viability of the path from any MBA into a start-up role in Europe, for example in healthcare. In for far as any MBA can do this, ESCP is a strong choice since you speak some French. However, interest rates are limiting startup growth and, even in a growth market, MBAs are expensive.

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aslamo

720 219

Posted May 15, 2023 12:24

I think the big question here is the viability of the path from any MBA into a start-up role in Europe, for example in healthcare. In for far as any MBA can do this, ESCP is a strong choice since you speak some French. However, interest rates are limiting startup growth and, even in a growth market, MBAs are expensive.

I'd be cautious about getting an MBA specifically to target getting into a startup, be clear what kind of startup you want to target.

In early stage startups (pre-seed funding), you may be called upon to perform various different roles, sometimes outside your usual field. An MBA might help to prepare you for this but paradoxically, early stage startups often struggle to afford hiring staff, certainly at MBA level salaries.

What might suit you better is a 'scaleup', maybe one that is growing at a significant rate and already had several rounds of external funding.

The challenge as Duncan hints at above, is there has been a big shakeup in startup valuations and funding in the last year or so and there are many people who have lost their jobs as a result. Perhaps by the time you graduate the situation might have improved a bit but with interest rates likely to remain high for a while, relative to the very low rates in the last decade, the startup sector will be quite challenging.

[quote]I think the big question here is the viability of the path from any MBA into a start-up role in Europe, for example in healthcare. In for far as any MBA can do this, ESCP is a strong choice since you speak some French. However, interest rates are limiting startup growth and, even in a growth market, MBAs are expensive.  [/quote] I'd be cautious about getting an MBA specifically to target getting into a startup, be clear what kind of startup you want to target.  In early stage startups (pre-seed funding), you may be called upon to perform various different roles, sometimes outside your usual field. An MBA might help to prepare you for this but paradoxically, early stage startups often struggle to afford hiring staff, certainly at MBA level salaries. What might suit you better is a 'scaleup', maybe one that is growing at a significant rate and already had several rounds of external funding. The challenge as Duncan hints at above, is there has been a big shakeup in startup valuations and funding in the last year or so and there are many people who have lost their jobs as a result. Perhaps by the time you graduate the situation might have improved a bit but with interest rates likely to remain high for a while, relative to the very low rates in the last decade, the startup sector will be quite challenging.

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aslamo

720 219

Posted May 15, 2023 12:27

Regarding working in France, I'm not sure that even B1 level is really good enough to start with. I've worked several spells in Paris and Brussels in the logistics and tech fields and even with B2 level I still struggled at times.

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Imnobatman

5 10

Posted May 15, 2023 15:52

Regarding working in France, I'm not sure that even B1 level is really good enough to start with. I've worked several spells in Paris and Brussels in the logistics and tech fields and even with B2 level I still struggled at times.

Would you suggest me dropping the plan ? How about Germany ? Wouldn't be it same in Germany , to learn at-least B1 or B2 to be competitive in the local job market. As I'm not a tech guy, I would be looking for roles in operations or logistics or e-commerce. Would you advise me to try for WHU or ESMT Berlin and drop ESCP ? The main pain point is I would loose money.

[quote]Regarding working in France, I'm not sure that even B1 level is really good enough to start with. I've worked several spells in Paris and Brussels in the logistics and tech fields and even with B2 level I still struggled at times. [/quote] Would you suggest me dropping the plan ? How about Germany ? Wouldn't be it same in Germany , to learn at-least B1 or B2 to be competitive in the local job market. As I'm not a tech guy, I would be looking for roles in operations or logistics or e-commerce. Would you advise me to try for WHU or ESMT Berlin and drop ESCP ? The main pain point is I would loose money.

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Imnobatman

5 10

Posted May 15, 2023 15:56

I think the big question here is the viability of the path from any MBA into a start-up role in Europe, for example in healthcare. In for far as any MBA can do this, ESCP is a strong choice since you speak some French. However, interest rates are limiting startup growth and, even in a growth market, MBAs are expensive.

@Duncan - Predominantly most my work experience are with Unicorn start-up's , hence I was targeting e-commerce companies like HelloFresh , Doctolib , BackMarket or even Zalando . As I have paid the deposit, thats where I'm stuck. First option is to take the ESCP risk, the problem here is the mix & match reviews from the current batch , those who have just now completed their program. The second option would be to quit this MBA plan for another two years, and think of schools in Germany & Netherlands (RSM). To be honest ,I had WHU in my mind. But I was too late to apply for their 2023 intake.

I just can't make up my mind. As the investment is huge , hence I don't want to take another hasty step.

[Edited by Imnobatman on May 15, 2023]

[quote]I think the big question here is the viability of the path from any MBA into a start-up role in Europe, for example in healthcare. In for far as any MBA can do this, ESCP is a strong choice since you speak some French. However, interest rates are limiting startup growth and, even in a growth market, MBAs are expensive.  [/quote] @Duncan - Predominantly most my work experience are with Unicorn start-up's , hence I was targeting e-commerce companies like HelloFresh , Doctolib , BackMarket or even Zalando . As I have paid the deposit, thats where I'm stuck. First option is to take the ESCP risk, the problem here is the mix & match reviews from the current batch , those who have just now completed their program. The second option would be to quit this MBA plan for another two years, and think of schools in Germany & Netherlands (RSM). To be honest ,I had WHU in my mind. But I was too late to apply for their 2023 intake.  I just can't make up my mind. As the investment is huge , hence I don't want to take another hasty step.

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aslamo

720 219

Posted May 15, 2023 18:29

Can you speak German? If not, then I'm not sure there's much point living and studying in Germany. If France or Germany are your target countries, maybe take a year out to learn the local language. The economic situation might have improved by then and placements and intenrhsips might be a bit easier to find.

[Edited by aslamo on May 15, 2023]

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booksfreak

13 26

Posted May 17, 2023 11:16

If I am not wrong the course is from September to June (10 months). Either way, they would have just finished (the current batch). However, in the previous batch, a few of them are still struggling to find work, post-internship which is optional but I believe it's industry-specific and for people looking to change both country and industry. A majority (Indians) moved to Germany as they said it was easier for them.

What I did hear from current students and alumni is that the career service is nothing great.

[Edited by booksfreak on May 17, 2023]

If I am not wrong the course is from September to June (10 months). Either way, they would have just finished (the current batch). However, in the previous batch, a few of them are still struggling to find work, post-internship which is optional but I believe it's industry-specific and for people looking to change both country and industry.  A majority (Indians) moved to Germany as they said it was easier for them. What I did hear from current students and alumni is that the career service is nothing great.

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Imnobatman

5 10

Posted May 17, 2023 11:28

Exactly thats where its becoming very suspicious . Taking a student debt of 55,000 USD then getting to know that the current batch isn't very happy with the offerings . Many of them even said, the program isn't very established. They are still trying to figure out how to run the program. I feel like I'm lost.

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Imnobatman

5 10

Posted May 17, 2023 11:29

Can you speak German? If not, then I'm not sure there's much point living and studying in Germany. If France or Germany are your target countries, maybe take a year out to learn the local language. The economic situation might have improved by then and placements and intenrhsips might be a bit easier to find.

Well I know B1 in french, trying to get myself into B2 level. German , I only have A1 certification from Goethe . Thats about it.

[quote]Can you speak German? If not, then I'm not sure there's much point living and studying in Germany. If France or Germany are your target countries, maybe take a year out to learn the local language. The economic situation might have improved by then and placements and intenrhsips might be a bit easier to find. [/quote] Well I know B1 in french, trying to get myself into B2 level. German , I only have A1 certification from Goethe . Thats about it.

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Imnobatman

5 10

Posted May 17, 2023 11:36

If I am not wrong the course is from September to June (10 months). Either way, they would have just finished (the current batch). However, in the previous batch, a few of them are still struggling to find work, post-internship which is optional but I believe it's industry-specific and for people looking to change both country and industry. A majority (Indians) moved to Germany as they said it was easier for them.

What I did hear from current students and alumni is that the career service is nothing great.

Honestly, moving from this country to that country wouldn't help in my establishment. As this would incur more expense in travelling. Though I know its in schengen , won't incur much complexity in visa etc. But this is a cause of worry for me , as I don't have any sponsor and counting on 100% on my bank. I also got to understand some are returning back to their home country as the career support aren't that great.

[Edited by Imnobatman on May 17, 2023]

[quote]If I am not wrong the course is from September to June (10 months). Either way, they would have just finished (the current batch). However, in the previous batch, a few of them are still struggling to find work, post-internship which is optional but I believe it's industry-specific and for people looking to change both country and industry.  A majority (Indians) moved to Germany as they said it was easier for them. What I did hear from current students and alumni is that the career service is nothing great. [/quote] Honestly, moving from this country to that country wouldn't help in my establishment. As this would incur more expense in travelling. Though I know its in schengen , won't incur much complexity in visa etc. But this is a cause of worry for me , as I don't have any sponsor and counting on 100% on my bank. I also got to understand some are returning back to their home country as the career support aren't that great.

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booksfreak

13 26

Posted May 17, 2023 12:26

@Duncan if you can give your input on this? I don't know how much of this is due to the current market vs the school (ESCP). Does a better-ranked school (eg. IESE, HEC, Oxbridge, IMD) mean a sure-shot chance to better opportunities in the EU region?

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Imnobatman

5 10

Posted May 17, 2023 12:33

@Duncan - its a great question posed above , if you could take it pls. Will you consider WHU / ESMT / Manchester (Alliance) / SMU (Lee Kong Chian) / RSM / Imperial in the same league as ESCP in terms of MBA reputation ?

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Duncan

14.013 15.475

Posted May 17, 2023 20:12

I have given my answer. Reputation isn't fungible outside the rankings. Focus on goals. For this person's goals, it doesn't sound like there is an better MBA available than ESCP. The question is: Which schools are favoured by recruiters for the healthcare roles they want? The LinkedIn method I outline on my profile page is the answer.

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