Obtaining an MBA overseas has been a lifetime dream of many students in developing countries, with the appeal often coming from the expectation of high income after graduation
business
Description
A
Cost-Benefit Analysis of Doing an MBA for International Students
from
Vietnam
Jane Smith
Graduate Student, Centennial College
Abstract: Obtaining an MBA overseas has been a
lifetime dream of many students in developing countries, with the appeal often
coming from the expectation of high income after graduation. However, due to
the changes in the labor market in North America resulted from the financial
meltdown in 2009, the likelihood of obtaining a managerial position upon
graduation is becoming much smaller than before (Jain and Stopford 2011), while
the cost of an MBA program is steadily increasing (Allen, 2011). This paper
presents the costs and benefits of pursuing an MBA in North America
specifically for international students from Vietnam. It suggests that unless
the prospective students already secure certain managerial positions either
back home or in the new environment in North America, the costs of an MBA might
outweigh the benefits. The paper also suggests alternative educational plans
for students who want to obtain foreign education.
Keywords: MBA,
business education, international students, employment, Vietnam
Background
According to
Allen (2011), the current recession in the United States made it more difficult
to obtain an MBA, while the number of MBA programs is increasing. The author
also noted that to get a managerial job, it is more important to have
“entrepreneurial thinking” than skills sets and education.
1.
The Current Labor Market for MBA Graduates in North America: Not promising
Having an MBA was often seen as a ticket to having
high-paying managerial jobs. However, since the collapse of the housing market
in the United States in 2008 and the subsequent global financial crisis, unemployment
has become more serious in the overall economy in North America (provide
source). Potential jobs for MBA graduates has also diminished significantly
both for local and international students (provide source).
