One of our readers, Kiran, raised some questions regarding PhD, MBA, impact of work experience, and salary after MBA.
1) I am not well financially but I want to do PhD after pursuing an MBA in the USA.
Believe it or not, US education is expensive. It is not just for you, almost everyone is in your situation. So you must be prepared to a lot from your loan or savings to pursue studies in the U.S..
You have to be prepared to spend substantial amount of money for the full duration of an MBA program, in case you don’t get any financial aid or part time jobs.
2) I have completed a master’s degree in human resource management from India (GITAM College-Visakhapatnam). I have 4.5 yrs of experience out of which I worked with B & H for 2.3 years and 2.6 years with Spens Retail Limited. My designation is assistant HR manager. Will I get any jobs for pursing an MBA in the U.S. and to do PhD simultaneously?
We have said several time before about the vast job opportunities after completing any degree in the US. If you put enough effort and have a skills set, you will find a job in America.
One cannot expect to just study for 2 to 3 days before the exam to pass the semester and then say that you have good skills. You must be willing go the extra mile to learn all that it takes to get a job.
Yes, you can find a job after completing an MBA. But if you want to do PhD, you must do it as a full time student. A PhD program can take around 4 to 5 years when done full time.
So if you do PhD part time, you will likely be in school for 10 years or more. But why do you want to study MBA and then do PhD? Why not apply for PhD directly, since you already have a master’s degree.
3) If yes, what kind of jobs would they be which are related to human resource management? If no, kindly let me know the kinds of jobs can I expect.
If you do MBA in HR, you will get jobs in HR. These include jobs like HR recruiter, HR specialist, HR manager, and so on.
4) What is the process to be admitted to MBA? What kind of tests or screening do I need to go through?
You have to take the GMAT (some schools accept GRE, too) and TOEFL (or IELTS or PTEA).
5) Kindly send me any model test papers for preparing for the MBA entrance test.
There are many websites where you can find good resources for GMAT preparation.
6) How much money do I need to spend to pursue an MBA degree?
Financial aid for MBA is limited when compared to master’s degrees in engineering or in other fields of study. So be prepared to spend considerable money from your pockets for around 2 to 2.5 years.
The entire MBA program (including your living expenses) can cost anywhere from $40,000 to $100,00. If you get some part time jobs, these will help cover for your living expenses.
- Stanford MBA – 1st Year fees – $80,000
- NC State MBA – 2 years – $53,000
7) Is there any placement surety after the completion of an MBA?
This was already answered in Question 2. If you graduated from one of the top MBA schools, then your job is almost guaranteed with a good salary.
8) How much money can I earn while I’m still in my studies?
Part time jobs will pay around $7 to $15 per hour. You can work for a maximum 20 hours per week. Also, you can do 1 or 2 semesters of internship, which will pay full time income.
9) After completion of my MBA, how much can I expect to earn?
It all depends on the company, your job location and the type of job you’ll have. Most likely, you’ll earn around $50,000 to $100,000 per year.
10) While studying, can I get any accommodation? How much do I need to get $ if I qualified for pursuing MBA.
I didn’t fully understand this particular question. Of course, you need a place to stay in while studying, but I’m not sure why you are worried about finding a place to stay while studying MBA as everyone always find one.