MBA in USA: Salary, Fees | Journey To 100% Scholarship

Summary

Arpit, an MBA student at Georgia Tech, shares his unique journey from engineering to finance. After graduating from NIT Bhopal and working in software engineering, he realized his passion for finance, passing the CFA and working in stock market investing. He applied to multiple international MBA programs, eventually receiving a full scholarship to Georgia Tech due to his distinctive background. Arpit discusses his experiences in the competitive finance industry, including the culture at Wall Street, and emphasizes the importance of standing out with a diverse profile when applying for top schools. His story highlights resilience, passion, and the pursuit of career alignment.

Takeaways

• 😀 Arpit's journey began with struggles in high school, including not qualifying for IIT, but he persevered and got into NIT Bhopal, where his life and personality transformed.
• 😀 Despite excelling in software engineering and getting promotions, Arpit realized his passion was in finance, particularly investing in stocks, which led him to leave his job and pursue a career change.
• 😀 Arpit's determination and interest in finance led him to wander the streets of Mumbai, seeking internship opportunities in the finance industry, even without a formal degree in the field.
• 😀 Arpit eventually worked in equity capital markets, doing IPOs, but felt he would need an MBA to advance in his career, leading him to apply to international MBA programs.
• 😀 He faced difficulty applying to Indian IIMs due to his four years of work experience, as the standard IIM recruitment model favors applicants with less experience.
• 😀 Arpit applied to Georgia Tech, knowing a professor there whose books he had studied, and was awarded a full scholarship, which he credits to his unique profile and background in both software and finance.
• 😀 He contrasted Georgia Tech's environment with the more prestigious Ivy League schools, noting that while the latter prefer overachievers, Georgia Tech valued his distinct skill set.
• 😀 Arpit's GMAT score of 720 and his 7.5 GPA were not exceptional by top-tier standards, but his diverse background and real-world experience set him apart from others applying to Georgia Tech.
• 😀 The Wall Street culture is cutthroat and highly competitive, as Arpit learned through his interactions there, with an emphasis on self-interest and ruthless advancement.
• 😀 While Arpit found Wall Street's culture difficult, he emphasized his passion for stock investing and his desire for a career that involves interacting with people, such as consulting or business development roles.
• 😀 Arpit's scholarship experience at Georgia Tech reflects the growing trend of competitive MBA scholarships, which often reward applicants with a unique mix of work experience and skills, rather than just academic credentials.

Q & A

What motivated Arpit to pursue an MBA after working in software engineering?

Arpit realized that his true passion lay in finance, particularly stock market investing. Despite achieving success in his software engineering role at Verizon, he wanted a career where he could interact with people, rather than being stuck in front of a computer coding for long hours.

How did Arpit manage to secure a full scholarship at Georgia Tech?

Arpit's profile stood out due to his unique combination of experience in software engineering and banking. While top schools typically look for over-achievers from prestigious institutions like IIT or Goldman Sachs, his diverse background was appealing to Georgia Tech, which gave him the scholarship to encourage him to join.

Why does Arpit find Wall Street’s culture cutthroat?

Arpit describes Wall Street’s culture as highly competitive and focused on self-interest, where people are willing to throw others 'under a bus' to advance their careers. He contrasts this with the more supportive environments of companies like Google and Microsoft.

What was Arpit’s initial experience with the stock market?

Arpit became interested in stock market investing during his software engineering career. He started small, saving and investing in stocks, and gradually developed a genuine passion for finance, eventually deciding to pursue a career in it, even though the profits were initially minimal.

Why did Arpit feel the need to move out of India for an MBA?

Arpit believed that with four years of work experience, it would be difficult to secure a place at an Indian IIM, where most applicants have less than two years of experience. His friends advised him to apply abroad, where the minimum experience required for MBA programs is usually higher.

What is the cost of an MBA at Georgia Tech, and how does it compare to other schools?

The cost of an MBA at Georgia Tech is around $80,000 for two years, covering tuition and living expenses. This is significantly lower than other private universities, such as Georgetown University, which charges about $150,000 for tuition alone.

What did Arpit learn during his time at NIT Bhopal?

Arpit describes his college experience at NIT Bhopal as transformative. Initially a studious, introverted person, he became more confident and extroverted through extracurricular activities and social interactions. His time there helped shape his personality and broaden his horizons beyond academics.

What is Arpit's opinion on the culture of investment banking?

Arpit finds the culture in investment banking to be aggressive and demanding, where the focus is primarily on individual success. While he values mentorship and learning opportunities, he feels that the pressure and expectations are high, and that the environment is not conducive to personal growth or work-life balance.

What role did Arpit’s CFA qualification play in his career?

Arpit used his CFA qualification as a stepping stone to transition from software engineering to the finance industry. Although it wasn't enough on its own to secure a role in investment banking, it helped him gain credibility and experience in the finance sector, eventually leading him to work in equity capital markets.

How did Arpit handle the job search after quitting his software engineering role?

After quitting his software engineering job, Arpit took a proactive approach to job searching. He moved to Mumbai, the finance capital of India, and persistently sought internships by directly approaching companies and HR departments, despite not having a strong finance-related academic background.