Mostly every school I applied has offered me a scholarship - what will you overall conclude? If in the history if you go back in time, will you still prefer MBA in US or MBA in Canada - You asked me a very difficult question this is a very very difficult question - So hey guys, so far we know that after engineering when we get bored doing our 9-5 job which is a 12-hour shift everyday because my friends in Banglore, Hyderabad haven't seen sun-set in a very long time so in this scenario we have 2 options 1. Startup 2. MBA and startup is a tough choice because everyone knows that "father does not give girl" - saying in India and for various other reasons MBA is preferred so thats why in this video we will be talking about the best countries to do MBA in. because we know that US and Canada have the best business schools. but first, I would like to thank our sponsor SkillShare. Many kids ask me that how are you able to make such cool shots with your iPhone how did you learn cinematography from an iPhone and the secret is SkillShare you know that I have always carried movement lens and I also learned film making with the help of SkillShare on YouTube, anyone can teach us but on SkillShare you get professional courses like Photoshop, Animation and especially leadership and management, freelancing which is required to be a good manager So definitely try it out And if you are in the first 1,000 subscribers, then you will be given free 2 months trial. And if you do not like it after two months, you definitely have the option to cancel before paying a single penny So definitely try it out. - So hi guys, I want to introduce Jivesh who finished his MBA in University of British Columbia, Vancouver in Canada and he will be sharing his journey about why he didn't chose US because everyone knows that US has the best MBA school all over the world and why you chose Canada, and how was your journey? - Hello everyone, I am Jivesh I have been working as a Project manager for multiple startups in Vancouver and in San-Fransisco and I come from New Delhi. I was born and raised in New Delhi Grew in Hoscauss schooling in Vasant-Vihar went to Amity University in Noida then worked in Banglore for a bit worked in Europe, Copenhagen finally came to Vancouver to beautiful British Columbia as they say Now I am just working professionally here - That is my favourite city in my trip to North America except California but up till now my favourite city in Vancouver. And you might not know that UBC is in the top 5 business schools of Canada firstly, why didn't you chose the US and why choose Canada? - I will be very very candid and honest US Schools were my first choice but the big challenge was the tuition fee of the US MBA Schools is in the range of around $200,000-$250,000 we are talking about a 1.5 crore Rs. degree so that is a big amount to me coming from a middle-class family my father is government-employeed so I was looking at other options where I can afford an MBA and Canada, Australia had some very good options Europe had some very options but in Europe language is a barrier the country in which you go in has a local language in which you need to fluent in order to be successful businessmen in a business job basically and in North-America, Canada, US every US company is in Canada as well. so It is much more easier and obviously as you all know Rotman University, Toronto, Richard Ivey, Schulich UBC, Schulich University so these are some of the top schools. I primarily chose UBC, just for the fact that I got a scholarship here. so it made my choice a bit easier Plus, Vancouver was the only city in Canada, where snowfall is almost zero so that was a very big decision for me and a big factor for me Also, I think... just imagine that you are living in a city where you wake up seeing mountains beaches, and green trees there are very few cities in the world where you get this kind of luxury and being on the west coast, is quite relaxing, chilling and you are in connection with the nature. so I think all these factors together made me chose Canada and especially UBC Again, if you can get good scholarship and a lot of USB schools offer scholarship so if you secure your scholarship apart from all US based MBA schools their opportunities are much much much more in the US it is a normal fact because there are more companies, big tech companies, big banks lot of opportunities compared to Canada - I completely agree to your point but every student thinks that work permit in US is for one year only. you do not know if you have to go to India after a year or or else find a job in Europe or Canada. here, the people who have done MBA in the US in that video the students said that if you get a good job, companies will reallocate you all over the world it is not a big hurdle but the confidence in move that you get in Canada is incredible there. because you get PR then to why do you feel that US is a better option as compared to Canada I completely agree with whatever you said earlier no one can deny the fact but I think where the difference is that depends on what are your priorities in life so in the US you will get companies who sponsor, and can be H1B visa student for 6 years but when there are global leaders like Trump who are very passionate about their own country and in this situation you can be asked to go back home so your life is settled, you have settled according to the lifestyle there you have bought a car, have a family there and have made good friends and then all of a sudden you have to move back to India. so you get a sense of uncertainity but again as you mentioned, that 90% people are safe because big companies sponsor they make sure that we do not get into any trouble in Canada I would say the risk is not that much. So people prefer and go to Canada because Canada is a sense of security, your parents can live with you. they get permanent residency you know that you will get citizenship in 5 years whereas in the US, people wait for 15 years for a green card. It depends on the amount of risk you want to take - Have you had a feeling that you did MBA in Canada and the value of that MBA is less than MBA in the US. It is said that the average university in the US is better than average universities all over the world But top universities do not matter you are in a top university. So? - I would.. you have pressed on the hurting part. I mean yes this is true that if in graduate from average schools in the US your opportunities are as good as when you graduate from a top school in Canada. this is my opinion, personal opinion. If you study from a normal state university top global companies come and hire you there In Canada, despite studying from top schools not many companies come to your campus so that is a setback in Canada's MBA. There is not much of an impact in terms of sellability of you as a candidate but in terms of quality education I would say, there I don't see much of a difference. but, yes, opportunities like amazon that they take students from seattle state university Amazon does not come to UBC. ooooooo So thats a big problem right! you are trying... and one more thing that in Canada employers are not willing to accept your prior experience outside north america they do not give much value to it whereas in US if you are an MBA student then they look at your MBA degree your prior experience is valued here in Canada but not that much your education is what they first look at. you get opportunities on those basis I will give you a very simple example 5 years offers engineering experience in India and MBA from top 50 schools in the US you can get a job for a senior level product manager at Amazon but the same guy with 5 years experience in UBC or Rotman getting senior project manager job at Amazon in Canada might be challenging It is not easy in US as well. I am not telling if it is easy or not comparatively in Canada, it is difficult - That clearly shows that if you are in an average university in the US, even tho, you will be paying $2617 more its value is higher than MBA in Canada. - In terms of ROI in money Canada is better, but your skills will not be counted. because average schools have good competitions wow So now lets move on to MBA in Canada can you please differ in the experience needed, as in the US, 5 years is needed but in Canada do you require GMAT score, how many years of experience? I would say that average experience requires is from 3-5 years in most of the MBA schools in UFT, Ivy or even UBC candidates with a little close to 2 years experience plus-minus few months they can get a job but they don't have brilliant work experience and need a high GMAt score I would say that in GMAT score, colleges are very flexible average GMAT scores in Canadian B-schools is comparatively lower than average scores required for top US schools If you have around 650 of GMAT Score you have a fair chance But in the US, top 20 or top 10 B-schools will not give you admission on a 650 GMAT score there are some! again a low GMAT is not a decision making factor GMAT, your quality of work experience your extra-curricular activities volunteering experience these things matter a lot as well definitely, the competition in Canada is a little..I would say less compared to top US schools - got it so finally, about your scholarship journey how did you bag a scholarship Canada? - This a quite interesting story of that I got scholarship from approx. every university I applied to. and to be honest, it was a very late decision I already had offers from Indian B-schools I did not qualify for IM-Ahmedabad and ISB But I had other top 20 B- Schools That I got from CAT I had almost paid the fees of two colleges the first fee was of 1 lakh Rs It was a seat confirmation fee I did it in two places - 1 lakh Rs, not Dollars right? - No, 1 lakh Rs, it was in Rupees I had to pay and they said that they will refund it It was a 20-day window and I was waiting for Canadian B-Schools Got into UBC, McMaster, University of Alberta, Schulich these top schools were some of them. Every University had a similar response UBC was a bit inclined to value for money and again I mentioned Vancouver as a city it was a big turnaround for me so that was a reason/factor for me as well. - Okay, and what amount of scholarship did you get and what was the average expense? - I think, here in UBC you get scholarships of 2-3 different types one is a deal scholarship that is 100% and 1 or 2 students rarely get it they each get 50% and they are talent awards Talent scholarship for international students or for students who have done some contribution in a specific field It is all written on the web, but these are the three main categories I got a talent scholarship as a most valuable as an incoming candidate MBA canditate* I don't clearly remember the name That was 25% of my tuition fee which was still a lot because the fees for UBC is very less. It is around CA$80,000 you are thinking about CA$80,000 and think about US average B-School that is US$200,000 which is around CA$260,000 That is 3 times So, it's a no brainer, right? I mean, it is a situation where If you have 20 lakhs, you might buy a Brand new Honda Accord in India, whereas if you have 10 lakhs, you might go for a Honda City So, it is like that, both are good you get a bit more but depends, on how much you want to spend. - So, how much was the total expense? I... Cab? I haven't kept the record, but As a student, I was trying to make sure that the monthly expense will be less than CA$1500 So, in that rent, travel commute, food, bills, phone and stuff. I managed that for around CA$1500 for a month As a bachelor, I am married now but until last year I was able to manage up to CA$2500 I think the rent as well was a difference to me I used to live in the upper basement after that, I came to the ground level in a highrise But, I think CA$1500 to CA$1200 per month and that makes around CA$20,000 for an MBA for living During my time, fees was lesser I think it was CA$65000 dollars $CA80,000 is the price at the moment So, I got 25% scholarship in CA$65,000 so CA$50,000 was the fees and CA$20,000 for the expense I would say, CA$70,000 was the total MBA cost One important thing that you have to keep it in your mind is that that UBC's MBA is a 16-month MBA. So, the opportunity cost of doing this MBA is lower compared to places where you have a 24-months program So, you are away from the job market for 24 months here, you will be earning a job in the job market from 8 months more and the money you have lost from your last job, you won't lose it. I also think that UBC has a 4-month internship after the first 8-months of the program. So, in the summer of the next year you can go for an internship, I think that the average student internship makes the students earn from CA$4,000 to CA$6,000 which is around 16,000Rs to 24,000Rs So, you see that your total cost for MBA in 16 months is actually around CA$50,000 If you do the complete math and being very logical obviously, if you go to UBC website it will show that living cost is CS$25,000 for 16 months because they keep you in their hostels which is like CA$2,000 or CA$1,500 food is for CA$500 everything is extra there if you live as a off-campus student, you are saving a lot of money - In Rupees, we see that CA$70,000 was your fees for one year, so? - Yes, in INR if we look at the full MBA cost that my family has paid. Adding the money for the internship, I think it is around 30 lakh Rs. which is a good deal, because in India if you go to top B-Schools and do an MBA there, it is around 25-30 lakhs Rs So, I got a... For me, I got an international exposure and working in North America, I got to interactive with a very diverse class I had students with 27+ nationalities and the class size was only 100, whereas in India, MBA B-Schools class sizes are very large I was very happy, with my overall experience The things that I wanted I got in Canada for a cheaper price and more value - Wow, I feel that the value of Canada's MBA is much more but let's compare that for every dollar, you are paying, how much inturn are you getting? So how much salary do you get and what is the scope? - that is a very very good question, Harnoor because when I was a student, I saw the college website they said that the average salary was between CA$70,000-80,000 that an MBA graduate makes after the MBA. Which maybe was an old data because it is the 2015 data In modern times, when my batch graduated so I would say that that 70,000 was the minimum pay for people who had less experience and were switching streams It matters what your prior experience is If your prior experience is in the Tech industry and you are a product manager for example So, you are using your prior experience's skills So you are earning more money, but if you have done 5 years of engineering and now all of a sudden you are moving to finance so your 5 years of expereince is not creating a lot of value so you start as a new-comer just like a fresher the salary of these type of people is a bit less But, overall I would say CA$70,000-120,000 is I know people who are making and within three years of MBA there are students who are making around CA$150,000 in Canada, not a lot but but CA$100,000 average MBA makes which is really lower compared to the US candidate In the US after doing masters, students have pay of US$90,000-100,000 that is US - US$100,000 is normal in New-York and California some say that US$100,000 is the poverty line there I agree, again you have to keep in mind that Vancouver is not like San-Francisco In San-Francisco one-bedroom costs CA$4,000 In Vancouver, you can get a downtown bedroom for CA$4,000. So cost of living is high in Vancouver compared to other Canadian cities But equivalent to Toronto and lower than San-Francisco and Seattle So, I would say that ROI is very high But if you compare the US's NYU/UCLA graduate student he is making US$200,000 at Amazon in Chicago or in California So, in Canada, that is not rare and I have not heard about it - What can happen in CA$80,000 you can get the same Honda Accord instead of Honda City the difference in lifestyle won't be large - I agree, and one more thing that people forget is that more the salary more the tax bracket So I think, basic salary is not that bad in Canada compared to US Obviously, it is lower if you compared the top cities like Seattle and San-Francisco But, if you compare with other cities, Vancouver is very well paid along with Toronto as well. Toronto and Vancouver are very good cities I would say - And also one more that one should not forget is how will some-one accept a Rs.1.5 crore loan XD - Actually, they will give it because I will give you simple logic through my research In India, you should have a property The one whose price is less, let's say you have $x So 0.6 means you will get $0.6x of loan So, for example, you want a loan for Rs.1 crore or if you have a property of 1 crore, then your loan for Rs.60 lakhs will get approved from the government bank I don't know about private banks but their ROI is quite high Also, there is something called Prodigy Finance I don't know if you have heard of them They have a tie-up with some schools they give you a loan without any security so, finally, I took a loan from Prodigy Finance But, if everything is seen with talent and even very good experience because they won't trouble you they gave me money immediately But I think it was not a bad deal overall for someone who wants education those who don't want to keep property or asset in mortgage so for them this is pretty good that you approach lenders like Prodigy Finance and they will help you sponsor your journey - By the way by using the link in the description you can get commitment free loan code for your MBA in just a few minutes also, Prodigy Finance sanctions letters free of cost So definitely try it out especially in these difficult times overall, what will you conclude if in the history you go back would you still prefer MBA in the US or you happy with Canada? - you asked a very difficult question this is like a very very difficult question I would say that if I had the top 10 or top 20 US MBA schools like Harvard, Stanford, Wharton, Kellogg NYU, UCLA, Duke I would have gone there with my eyes closed But for any state university I mean no disrespect to them but But, San Hose Seattle State, Washington State So instead of these State Universities, I would prefer Canadian top Schools And I think, down the line if you are talented and if you are determined and dedicated, you can extract similar kind of success with both kinds of opportunities because Amazon is coming to Canada as well Amazon in Vancouver is hiring like crazy, Apple is opening their office Microsoft is expanding here obviously, the 220K starting salary will be 160K here but your standard of life would be equivalent I would say So, in terms of making it and really .... really... really there is a saying that "that you have taken every advantage and squeezed it". I think you will be able to do that in top MBA in Canada as well along with their bonus of security and peace of money that you won't get in the US. The extra dollars that you will get can't be competed with security and peace of mind with three years of work permit after doing a Canadian MBA No one will be able to match that - really it is a headache here, people get white hair but not a green card - That is so true I have a lot of friends who are still struggling they have money and are happy but They are not sure, that for how long they are here they cannot buy a house, because they are not sure because they can be asked to go back In Canada, you can live long term with retirement because "make Vancouver home" but it is difficult of anyone to make home in any city in the US. you can live there but you cannot make it your home. - That is true, I absolutely agree So thank you so much Jivesh for sharing It was a pleasure having you here - It was a pleasure talking to you Harnoor keep up this great work and looking forward to seeing new videos Thank you! - Sure, and we will be doing another video with you so definitely check it out on Jivesh's channel - Thank you so much he has inspired me to get active on my channel [music]
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