I have been asked by MBA 365 to shed some light on several topics: MBA tuition financing and who should apply to international MBA programs.
MBA Tuition Financing
Unfortunately I can’t generalize for all European business schools but it appears that most schools offer financing alternatives. What I can tell you about ESADE is:
“ESADE offers MBA Student Loan Agreements for all nationalities through exclusive arrangements with large Spanish banks to specifically meet your needs. The majority of MBA candidates finance their tuition fees through student loans from lending institutions around the globe. Spanish banking institutions show their commitment to ESADE Business School by providing optimal lending terms to all ESADE MBA candidates (regardless of nationality). Our partner banks cover up to 100% of the tuition fees.”
My US classmates who have gone through La Caixa bank to obtain their loan have told me that the process was very simple and seemingly only required a signature. The ease of the process and the fact that the loan is denominated in Euros instead of US dollars, thereby eliminating the currency conversion factor, has led the majority of my US classmates to choose financing arrangements through the Spanish banks.
International Programs
My decision to attend a European MBA program was primarily driven by the pursuit of post MBA employment in Western Europe. I saw the large European alumni network and the proximity of the school to major European cities as a major advantage. What I realized upon arriving at ESADE is that international programs don’t just facilitate employment in a given location; it provides you the unique experience of being in an international community of students. When ESADE states that 47 countries are represented from the student body it is not a statistic liberally adjusted through creative ways of assigning student body countries of origin, but an accurate representation of people’s nationalities.
Yet, aside from all the soft intangible, we are here to find jobs after the MBA and to be quite frank, those wanting US based jobs will be better off attending an American MBA. The alumni network will be stronger in the US and access to recruiters will be better. That is not to say it isn’t possible to obtain a job in the United States from a European business school. I and several others have been able to obtain summer internships in the US but I feel that if you are set on living and working in the US, it would be more advantageous for your career development to attend a US MBA program with an extensive US based alumni network and corporate recruiter relationships.
Bryan,
ESADE Class of 2011
Second that. I totally agree with the bottom line, however I would also stress how much you actually get out of a truly international MBA.
You get a decent understanding of different cultures and nationalities as you can observe them on a daily basis. You really start thinking outside of your countries boundaries. You get challenged with views on subjects that would never have occurred to you.
So in the end, if you think that you need a network in your home country, then don’t go. If however you are confident enough that you will find a job anyways, go for it as this experience will definitely broaden your horizon.