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Thread: Various career options in Finance

  1. #91
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    Quote Originally Posted by optimisticAL View Post
    Thanks Sougata for useful insight.
    So what I can conclude is that if anyone interested in going for higher studies to US must do serious research on the Job prospectus over there.

    To continue with this useful thread, I request people to ask more question so that we can plan for our future accordingly.
    Definitely you should do a lot of research.
    If you go to a good university, you may end up with a great job on Wall Street. So don't get discouraged after learning about the risks. There are no arbitrage opportunities in life. Higher risk can lead to higher rewards.

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    Sougata,

    In an earlier post, you had mentioned that we should minimize our debt for foreign education. What maximum amount of debt should we take?

    Thanks
    Sriram

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    Sougata can you let us know why Job at Wall street is considered so grt.
    I have seen people excited about doing job at Wall St. Can you please throw light on this and what type of work people generally do.
    By the way after hearing from so many people, I also get excited about going to Wall St

  4. #94
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    Quote Originally Posted by optimisticAL View Post
    Sougata can you let us know why Job at Wall street is considered so grt.
    I have seen people excited about doing job at Wall St. Can you please throw light on this and what type of work people generally do.
    By the way after hearing from so many people, I also get excited about going to Wall St
    One investment banker at Wall Street told me that the good thing about Wall Street was "money" and the bad thing about Wall Street was "money".

    Job profiles differ and could be interesting and challenging or very boring and monotonous. But people are attracted to Wall Street mainly because of the insane amount of money you can earn, if you are in the right organizations.

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    Nice to know about Wall Street.

  6. #96
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    MBA from Canada and Job Prospects

    Quote Originally Posted by Amitava View Post
    Thanks Sougata da for sharing our experience and views. Can u give some insight on happenings in canada?
    Quote Originally Posted by sougatab View Post
    Dear Amitava,

    I will try to reach out to some students in Canada as they'll be able to provide better information.

    Regards,
    Sougata
    Dear Amitava,

    As I had promised to reach out to some students in Canada, please find the response from Sachin Rao, an MBA graduate from Canada. --Click to view Sachin's profile.

    We are grateful to Sachin for taking out time to help DG members.

    Education:

    The Canadian education system is , in my opinion, as good as the American system. Further, the cost of education is also far less than their US counterpart. Eg: MBA@Canada ~ CAN $ 65,000 while MBA@US ~ $ 120,000 (for the good univ's...there may be some differences)

    There is a lot of cross border traffic in terms of visiting professors, seminars and functions between the 2 countries, so you get the best of both worlds.

    Career:

    Before adressing this topic, we must acknowledge that the US economy is 13 times the size of the Canadian economy while the US population is around 10 times the size of the Canadian population. So, opportunites are greater in the US.

    However, getting a Candian work visa is far easier than a US H1B. Eg: On completion of a masters degree in Canada, a student will recieve a work permit with a validity period equal to the number of years of the course.

    Currently, the job scene is Canada is not good. People are struggling to find jobs and some who do find are accepting lower salaries. The big name companies are still not in the hiring mode, so a lot of patience and perseverence is required.

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    Thanks Sougata da...u seem to have a good network!!

  8. #98
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    Quote Originally Posted by Sriram Raju View Post
    Sougata,

    In an earlier post, you had mentioned that we should minimize our debt for foreign education. What maximum amount of debt should we take?

    Thanks
    Sriram
    Sriram,

    The maximum amount of education loan that you may take depends on many factors like your current financial position, long term goals etc.

    Let's discuss a few cases:
    A. If your long-term goal is to become an entrepreneur, then minimizing the education loan is better. You wont be worrying about your next EMI payments.

    B. The two financial metrics that are important when you decide your foreign education are the loan payback period and the NPV. If you go to a top university, the NPV is generally higher than that from a third tier university. However that's difficult to calculate and will involve a lot of assumptions.

    The payback period is relatively easy to calculate.

    Let's assume you'll spend $150,000 in 2 years in US. Let's also assume that you'll get $50,000 from your parents, internships, some scholarships and personal savings. So you'll need to take a loan of $100,000. Generally it's difficult to get that from India. So you'll need an US cosignor (in most cases except a few universities) with good credit history to get a low interest loan.

    You can assume a salary of $120,000 (unless you get investment banking with large bonuses) . Also use a tax rate of 40% for US. Depending on your standard of living, you'll have to understand what'll be your net cash inflow per month.

    Depending on the interest rate and the term of the loan, you can calculate the EMI.

    Also consider the risks:
    A. Not getting a job in US
    B. Losing the job after a few years

    Some people have taken nearly 5-7 years to pay back the loans. It'll be different in every case. If you want to keep the option to return to India open, then make sure that you can pay the loan EMI with Indian salaries.

    Regards,
    Sougata

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    Thnx Sougata for grt post.

    Is it possible to get decent Job in India just after I complete my education/MBA in US? I mean can I directly give interviews for positions based in India.
    Also generally how much scholarship can we get from US universities(in % of total cost) and on what criteria/s it depends?
    Please if you can provide some detail on this as I know everyone is targeting for scholarships

  10. #100
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    Quote Originally Posted by optimisticAL View Post
    Thnx Sougata for grt post.

    Is it possible to get decent Job in India just after I complete my education/MBA in US? I mean can I directly give interviews for positions based in India.
    Also generally how much scholarship can we get from US universities(in % of total cost) and on what criteria/s it depends?
    Please if you can provide some detail on this as I know everyone is targeting for scholarships
    Yes, it's definitely possible to come back to India after your MBA. I have seen many MBA students from US returning to India immediately after finishing the course. This trend has increased recently as there are more opportunities in Asia compared to the western world.

    Scholarships depend on your profile and GMAT score etc. It's very difficult to get scholarships in top 5-10 universities. If you go for a college that's 20+ rank, then the chance of scholarship will increase. So there is a trade-off between high rank and more free money (i.e. scholarship).

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