Scholarship Blues

Just finished one of the most grueling jobs I've ever undertaken and sleep is seeming to be a luxury to pine for... good preparation for an intensive MBA, I suppose.
So after about 125 hours of little or no sleep I find myself sitting in front of the comp in my first free hour in a month, hoping to find the motivation to get started on my scholarship essays...
even the prospect of winning close to all my tuition is not making the gray cells work and I find myself drifting to this blog and of others, in hopes to feel connected to my goal of an MBA...
After months of obsessing about little apart from an admit decision, I find myself drifting on a fast track life without a moments pause to wonder - how did I find myself here? is this really my dream? is this going to realize my ambitions? c est la vie....
Am i having doubts about doing an MBA? no not really...just after the entire gamut of feelings experienced in the process of gaining an admit, I'm feeling a bit disconnected...life is going on and August is feeling far removed...almost a morning dream whose details you cant quite grasp


And as those scholarship essays beckon but little seems to flow out.... except an ardent desire to be on the beaches of goa with hubby dearest, just sitting, doing nothing and staring at the sun... re energizing the stars in our eyes

Home, at last

My house hunt is officially over! Haven't seen the place & don't even know too much about it but its lovely. With the domicile in my hands, the next stop is at the visa office.
I spoke to the Consulate officer & have fixed an appointment for 27th of April, 2007. She thinks I'm very early...wanted to tell her it would have been earlier if she wasn't going on a holiday!
She had such a cute accent! Dying to start my French lessons in the coming week. Have found a private tutor too....

Sounds like I'm really working hard to get there but honestly the picture is quite the opposite. Another classmate from Bombay chased me down, did all the hard work and even paid the agent fees while I sat on my fat arse and sounded worried. So thanks K....it'll be fun to be roomies, even though I haven't met you yet

More news is that I'm suddenlt swamped with work. Currently producing the most challenging production of my life - it'll be a film to remember...hopefully my swansong to Production!
Keep watching...it'll feature v prominently here in these pages :) - my blog so I'm totally allowed to blow my own horn...

Comment Ci, Comment Ca

Almost a month to the last post..but I'm back now. This year has been whizzing past,leaving me completely unfettered. I have no clue if I made sense but I was dying to use this word today, for some strange reasons which I rather not elaborate or else this post will be something else all together.
As evident from the title I have started learning my third language and after a strenous three hours i'm fast losing hope. French is just....too strange. its spelled wierd, its spoken weirder and after listening to it my brain on reflex does a quick shut down. So the self teaching route is proving tricky and i have decided to enlist the help of an expert though haven't quite managed to fit him/her into my tight schedule.
Though I'm sounding oh so busy I still have countless hours to fret about my life and dream all sorts of MBA dreams, you know the ones I'm sure, the dreams which are mostly about $$$ and some more $$$... :)
Sound so materialistic but there is another phenomenon underfoot. Absolutely unexpected from an MBA aspirant on the way to selling her soul (or so it is viewed in my culturally artistic group of peers), I am experiencing a spiritual epiphany! No, no god babble sorta stuff but more on the universe and the world of dreams etc etc. Gosh I was thinking not to write this, fearing I may sound quite the freak but it just escapes me.
Maybe like a big new year party, its the impending change and the fact that life as I know it will be altered significantly that is bringing it all on. And I'm wondering if any of you out there are having similar thoughts?
I shall explain. I've always been a sucker for signs and omens and sometimes just dream them up to convince myself that I'm on the right path but it works for me. I'm also suddenly a huge believer in the universal laws, though if you ask me I wont really be able to explain it. All I know is that if you want something so bad that it feels more like a need... it just happens. And that we can alter the world we live in by just altering the way we think or look at the world.... Ok I know I've lost you be now so wont go on, but indulge me a bit further.
On Monday morning, the day I usually hate as I run around with to-do lists etc I woke up feeling unexplicable happy. Not given to early mornings at all, this was rather unnatural. So I drive to work and without even knowing it, I'm totally grooving to the music and loving the world. Almost like a mild high of a loving drug. I wonder to myself whats happening to me, why this behavior? The song on the radio changes & this is what it says-
"Nayi Subah, nayi disha
Kyu mein hawaanon mein ghum raha hon?
Naya sama, naya jahan
Ab mein jahan se kadam mila chal raha hon"

{Translation - New dawn, new roads. Why am feeling like I'm on clouds? A new world and I'm ready to walk in step with the universe. (As close as I could manage)}

A red light and i stop. The car in front of me has a sticker, it says
"Angels are watching over you"

Hmmm, I asked a question in my mind and I get an answer in the universe. I laugh and look away, only to find myself parked next to a billboard showing a man on a hammock and a few angel fairies blowing him kisses. Never mind that the billboard was actually selling booze but the whole thing gave me goosebumps. And made my day too.

The unwelcome 'welcome' call

Some freakish moments- received an email yesterday from the associate director of the MBA program stating she wanted to review some information!
Had a sleepless night & imagined various sets of problems & complications.
Got a call at 9:30 am with a cheery voiced woman which dissolved my fears. It was a welcome call! Short, sweet and v friendly. I already feel like this place was meant for me.

What they failed in on their acceptance package they made up with this call.
The acceptance package was barely 3 pages of basic quality paper with a handwritten congratulations & signature. I think they should have carried the marketing effort onwards with a brochure of activities & life on campus. After all some percentage of the applicants must have had other offers too. Sounds shallow and yes no one bases their decisions on the quality of paper & images but I do feel it pays to whet the appetite...what say?

Cost of an INSEAD mba

Some back of the envelop calculations regarding the impending cost of an INSEAD MBA:

Cost of Tuition Euro 48,800
Business Fundamental Euro 1200
Cost of Living Euro 20,000

Additional Costs

Laptop Euro 1000
Air Flights Euro 1000
Wharton/Campus Exchange ???
Miscellaneous Euro 3000

Total Cost Euro 75,000 approx.

I don't yet have the figures for the cost of campus exchange but do realize that its not factored into the average cost of living provided by the school. Miscellaneous covers visa charges, medical insurance, travel insurance, books and other factors for which no exact figure is known.

As of now with my Indian salary I only make approx. Euro 20,000 pre tax. Obviously this means there is a huge gap which can not be filled without aid & loans.
So here's the clincher, according to the Forbes's ROI calculator for MBA'a ...you can check it out here

I get a 5 year MBA gain of approx. Euro 2,25,000!!!


Its calculated based on 2003 average salary indications & a rate of growth of approx 11.6% based on the batch of 2000.
Of course the return is spectacular given my pre MBA salary is in Indian rupees while the average post MBA salary is in Euro/dollars
But before I blow my horn, a few key factors to consider:

• Average salary does not always translate to what one can expect, especially with global recruiting
• The rate of growth is also largely dependent on the conditions of the economy at large
• I have no clue if they have taken taxes into consideration, after tax its a completely different story.

I wish there was a clause by which all b-schools had to declare the range of salaries for all employed grads - from the lowest to the highest with mean, median and mode figures provided. Self employed entrepreneurs would be exempt.
It would help us make more efficient decisions (something we are going to learn during our mba, right?) and not just be swayed by the gigantic reputations of the schools and ranking in all the publications - of course those too are dependent on the same factors but some data would be insightful

The Storm after the admit

So the CFA plan is canned...at least for now. Between Feb and August one has to master a foreign language or at the very least learn enough to pass a test by the fiercely protective Franco-phones.
One also has to work to keep skin on the bones, though any dreams of saving enough to last a season on foreign shores, with decidedly unfair currency exchange, is fast evaporating.

And another strange emotion is taking grip. After months of anxious applications and awaiting judgment day, a weird calm has descended. With it have the doubts - will this investment be a wise decision, will I get a good job, will the diversity work for or against me, will I make friends or feel alienated, will i manage to cope with the workload, will I...

As I grapple with all of these issues I suddenly realize my new status amongst friend, family and colleagues - somehow my achievement is theirs, they are proud and sure, for the first time there is a unanimous feeling that my star is on the ascendant, somehow with me reaching these schools has given them a surge of hope, of change and of control over their own destiny.

I brush off the crumbs of doubts and hope the wind in my sail suddenly doesn't die out.

Reading List & CFA

So this is the reading list for INSEAD though for the year 2005. Maybe it will have some more additions.
I have a query - is anyone planning on doing the CFA? I fear I'm too late in the game but wanted to know where I can get more info on the same. I know atleast some of you have already cleared beginner levels. Anyone wanna do a informational post on the benefits, time, effort required etc.?

1. Essentials of Accounting, (9^th Edition)

Authors: Robert N. Anthony, Leslie K Breitner

Publisher: Prentice Hall

ISBN: 978-0131496934

2. Finance For Executives (3^rd Edition)

Authors: Gabriel Hawawini, Claude Viallet

Publisher: South Western College Publications

ISBN: 978-0324274318

3. Principles of Microeconomics (4^th Edition)

Author: N. Gregory Mankiw

Publisher: South Western College Publications

ISBN: 978-0324319163

It aint over...yet

Its been awhile but I'm back in the saddle again. Apart from the v airy happy feeling in my head after an admit decision, there's a whole other tornado going on in my humble little cranium.
So here's my updated list of all that I must accomplish before getting on a flight to France

• Pay the deposit. The ulcer this 10% deposit is causing me is making me wonder what the state of my digestion system will be when in debt of close to $90,000!
• Learn French. Though I'm still confused if I should make Spanish my 3rd language...may help with the Latam course and the entire emerging markets scenario. Any suggestions which would help more?
• Get the International Drivers license, even though I doubt I can afford renting a car for the whole year. But it may help on short trips across the French country side :) though my bank balance loudly lets me know that any holidays from now to July 08 are just a fantasy
  
• Figure out the list of visas I'll be needing - French, Shengen, Swizz & UK. Maybe I can get to Wharton on my tourist?
  
• Start on the pre MBA reading list. Its only about 5 books but Where's the time?
• Start an accounts 101 and a finance 101 course. Want to wiggle out of the foundation course in hopes of saving some moolah but Shall I repeat - where is the #%^& time?
• Find a house & house mates. No problem here except where is the money?
• Write all the scholarship essays. Well here is the money but guess what? I pay the deposit & then just wait & hope I get to be the lucky 20% who gets any money out at all.
• Figure out an education loan, though most of the one's on offer fall woefully short of what I really need.
  
• Shop for winter, shop for college, shop for fun. But what about that money, honey?

And some wise soul had advised that from now to August was just R&R.... no hopes on that happening. So this is the next leg of this long road, so all say Hail Mary( or whatever religious/ quasi religious/philosophical/theological expression that helps) and hop on for the ride.

Thanks

My big thank you post to the entire blogger gang (community just makes it so v serious)
I'll be starting at Fonty in Sept and I'm just overwhelmed. I started the applicant journey sometime in July and today in Jan its finally over.
Well as over as possible without taking scholarships, loans, shifting etc into account.
The funny thing is in July I had never even heard of INSEAD...yes, embarrassingly I was that naive but today it feels like the biggest thing that ever happened to me.
So now I bid adieu to the 6 odd months of applicant hell and raring to get to the other 6 odd months of getting the practical stuff into control.
INSEAD here I come!

In INSEAD!

I'm in!!!
I only had one interview and was on tenterhooks this whole week. Another friend in Bombay who interviewed with the same person was called yesterday, 2 days before the decision deadline and interviewed on the phone. She didnt tell me since she knew I'd push the panic button.
But news just got in we are both in!
I'm over the moon....Life is good and there is going to be a big celebration tonight ;)
Its been a tense week in the blogosphere with HBS and INSEAD decisions happening all at once but this is the end of my endless wait.
My applicant journey is just about getting over - now its scholarships, loans, banks and dreams of FB :)

Business & Politics

The latest news in the business dailies -
ThePawar family to buy 49% in UB breweries. Sharad Pawar is the Union agriculture minister and responsible for reducing duties on wines in Maharashtra.
Apparently this all above board. Are there no laws in this country to protect against vested interests?

Reverse Outsourcing

So while I patiently twiddle my thumbs till Jan 19th (INSEAD deadline), a little report on Reverse Outsourcing

Lately every India glossie, item song, ad commercial, print work is being adorned by foreign beauties. Coming from far away places, mostly from developed yet not economically strong nations of East Europe, Mexico and Brazil, these girls are giving the Indian models a run for their money.

Time was when a few genetically blessed chicas would rule the ramp and make hay while the sun shone on them a little more brightly than it did for the less endowed mortals.
But not any more - the foreign invation is a strong challenge - they are younger, better bodies, taller, less inhibitions and far more affordable.

So its no surprise that from small stores like Seasons & Benzer to big brands like Himalaya Aryuveda, Colgate, John Player etc have them grace their commercials. Only condition is to dye their manes black - apparently the Indian audience loves to salivate over the 'imported' talent but not if they are blonds - something about aspirations!

INSEAD interview update

An update on my INSEAD interview -
After weeks of chasing my interviewer I finally met her in the last week of December. I was peeved at being asked to keep calling and then having the appointment can celled. So went prepared to meet someone I was not going to like but came back feeling not so bad.
the interview was long and exhausting - lasted an hour and a half and I felt we covered a lot of ground. I would even say we exposed my weak areas and hopefully strengthened some otherwise weak spots. The interviewer followed the same path as others but somehow different individuals make the experience wholly dissimilar.
this interview took place in my interviewers house. I didn't ask but I think she has left her job. It started with her dog sniffing me and her daughter & friend bursting in & out. Even her husband came back and decided to move about the house in shorts. So yes the setting was most definitely not professional but the interview was.
What a contrast to my LBS one - the setting was an investment bank but the tone was uber friendly and casual. Here it was the opposite. My interviewer took her time, was very
professional and cold, though I'd like to believe she thawed by the end of it.
She didn't reveal any information regarding her feedback. She felt I was one of the most unusual candidates she had met but my 'diversity' could work for or against me since the competition was so high.
Oh well as again time will tell...
(Have to say though she had some great art on her walls, maybe all the culture you pick up after INSEAD and hopefully a job too which can afford it all :)

2007 & the world is the same

The New Year is here and so are the lists. Resolutions, to-do's, trends and whats in store lists.
I love lists so no guesses on what I did on the first morning of the new year...in bed in my pj's with at least 3 dailies and read thru all the supplements. Ooh the simple joys of life!
So here's my list...no resolutions but what I in my rather short sighted, ill informed, hastily put-together way think will be the trend for 2007:
- the big brands & corporations will bend backwards to reach any consumer they may not have already bombarded with their so called 'USP' They will have interactive platforms, 60 sec spots, jingles, billboards, events and even sales to push up that bottomline- everything infact except actually working on their product or improving their service. No need for that if the PR is in overdrive.
Think Big Play Small- SME companies will continue to feel threatened & look apprehensive and act scared. They'll even win all the sympathy with photo ops of cutsie cuddly mom & pop store owners outside giant cold large retailer. But secretly they too will find the balance sheet not too bad. Large corporations on the other hand will bring out their own devices to make people part with their money & they too will find the going smooth.
- Indian companies will continue to buy out never-before-heard of companies in their bid for global domination. The pink dailies will froth over with excitement on the exotic locales these companies are going.(Reports of executives in Brazil, Switzerland, Belgium negotiating multi million dollar take over bids will keep us green with envy). In all the hype & hoopla no one will check on the health of these so called strategic investments for awhile and no one will question why on earth we are suddenly so damn good at running an enterprise which has been in deep trouble.
- Economists will disagree on everything from slow downs to safe landings to growth projections and inflation worries. But whenever in doubt will put yet another India growth story on front page news and relax in the feel good haze.
- MBA salaries will make headlines & the competition will become intense. This will be the road to the city of gold but it will suddenly find the traffic a trifle too much to handle.

Finally the real main trend will be Duality and everything in between. While sometimes we will find consumerism on the rise, at another we'll see more socialists on the streets of Paris - giving up a warm bed but not their revelry.
Chavez will enjoy the attention his remarks will bring him and Bush will give him adequate competition in stupid sound bytes.
The Indian economy will grow yet it will isolate its own large majority.
We will sign trade treaties with our neighbors but mistrust them completely. For all the trade growth, we will see a far higher growth in our defense purchases.
Salaries will go up and so will our EMI's.
You will enjoy greater connectivity with the world yet find no time for a family life.
Web 2.0 will have to work harder to find new shining stars or find itself in the midst of another small bubble...
SRK will hunt out all of AB's old shoes and try to fill them.

Alladin & the genie

Been having some very interesting conversations lately. My boss is on a spiritual trip nowadays so work hours often sprinkled with deep insightful talk.

He started telling me about the Alladin concept - basically a reworked Alchemist theme. The idea is to see yourself as Alladin and the whole world as your genie. Every thought you have strokes the lamp and the genie i.e. the world goes out there to make it happen. I think the Little Prince also speaks about this. So we have to be very careful & discipline our minds not to let ourselves down by negative thinking because that just might be the wish that is granted today.

I'm still upset though, I honestly had my hopes up on LBS but somehow my genie didn't get the message. But a firm believer in destiny that I am, I suppose there is a grand scheme in place... there is some place else I need to be.

Dinged by LBS

Win some Lose some....
Dinged at LBS. This was my number one choice but I suppose destiny has other plans. Somehow I'm still in a daze, just don't understand what went wrong. Probably the interview.
I dont think I have the energy to go thru R2 applications. So its goodbye to London from me

Hey guys, little late in posting but good news is always welcome
I'm through to ISB!
This means no matter what I am going to school next year, even if where is still open for discussion.
LBS will send out its decision tomorrow and that will decide the fate.

A little economics

5 days for decision day at ISB
9 days for decision day at LBS
Insead interview - still awaiting response from interviewer
So in the meantime, I've nothing to do apart from a whole lot of work and a whole lot of day dreaming and a whole lot of twiddling my thumbs looking at R2 apps...
Did pick up 'Free Lunch' by David Smith, a sort od Eco for dummies just to get the studies going. Having fun with it right now since most of it is nowadays all over the papers and doesnt require too much brain power...with holiday season around some serious lack of the aforementioned :)
On an interesting though disturbing note - read a UN study which qoutes the following statistics
1% of the world's population owns approx. 40% of the world's wealth.
The top 10% own over 85% of the world's wealth
The bottom 50% own ...hold your breath... only 1% of the wealth of the worlds

Its rather disgusting, the inequality obviously proves the trickle effect doesnt work. This has been going on for so long but with all the laws and good intentions and experiments with socialism, capitalist, left & right - nothing has worked.
So congrats to all who read this blog - it only takes assets worth $2200 to make it to the top 10% but do spare a thought about the world...

Interview over & out of my hands

Thanks to all for all the wishes, I hope to meet some of you at some school on some continent, in some country under some circumstances.
I started the MBA journey in June and I have no clarifications on any of the 'some's listed above :)
So now for the interview update.
I met an alum from LBS, an investment banker (expected that) and he turned out be very nice. He was extremely open and chatty and very welcoming. The interview was in his office, the investment floor of a large bank. Interesting lace though I've been to one before when the floor was abuzz and alive with action. My interview of course was at the end of the day and the space was rather quiet.
We started with the most common of all Q's - why mba? I started my rehearsed, rehashed line he smiled and said 'I'm hearing jargon now"
Quickly changed tactics and relaxed since he seemed humorous. The q's were all of the expected kind but were framed more conversationally. I have no clue if I answered it well or not coz once I get chatty, well I get chatty.
The case presentation was interesting and I hope I fared well though on second thoughts I may have messed up understanding the basic issue. Hope not. V much like GMAT AWA.
All in all it took a little over an hour.
I asked a lot of questions especially regarding financial planning for LBS,London life, exchange programs,oppertunities. I suppose the problem was that I was meeting someone who wwas available to talk about my dream school and the questions just kept pouring out. I'm hoping I didnt mess it up.

Its out of my hands now and I've started counting down to Dec 19th already (17 full days to go)

About to interview

So the big LBS interview is today, well actually in another 1.5 hours and what am I doing? Blogging, after too many days. Its like a comfort zone you turn to in stressful circumstances. It helps to know that somewhere in the world strangers are going thru much the same thing and actually understand your views right now, much better than the loved ones.
I've been feeling a bit disconnected lately, work has been hectic and with everything changing, including my comp from a PC to a Mac so life is just a big merry go round.
Ok time to go and best of luck to myself and everyone else out there...