As we all saw the world economy(especially US economy) succumb, it also brought down the employment opportunities along with it. It has raised a lots of speculation among the people who are planning their higher studies abroad. Below is the report of an expert analyst who is also a member of Student selection committee in US in one of the renowned Universities(He does not want to reveal his identity as his views might also be controversial ). Hope it helps in the shaping of your FUTURE
1) The rules of the game have changed - This morning's job report talks about more than 1.2 million jobs in 2008, 2.5 million jobs in 2009 and a total of 5.7 million jobs since the recession began on December 2007. Given all this, I will just use the well known adage and cautionary statement, "Past Performance (of a program) does not predict the future", especially in this market.
2) Focus on compensation - Every one of us wants to do well after having invested in anything including a graduate program. But, this focus on starting salary alone is frankly somewhat unappealing and disheartening (as a person of Indian origin). People should be asking questions about what companies and careers do you get into, and what the prospects of those careers are in over a 10 to 20 year period! To provide a quote that I often use, "It is not where you start (in terms of salary) that matters, it is where you end!".
3) Sense of entitlement - I get the feeling that most of you somehow have this mentality that says, "If I am investing xxxK, I deserve to get a job that pays yyyyK". There are thoughts about loans to be paid off etc. Just remember that everyone who goes to graduate business school (all the US students) has loans. During good times, maybe the programs and the employers can help fulfill this dream for you. However, for the next 2 -3 years you will be seeking a job in a foreign country, during tough economic conditions, where US students (maybe some who may not be as qualified as you) are also seeking jobs! So are all the people who got laid off and will continue to get laid off as the economy worsens. So PLEASE PLEASE, get out of this mentality that any program or you as a person can somehow overcome all these barriers.
Between the H1 quota problems, the economic downturn and any other factors that may emerge, I would encourage all of you to ask yourself the question, "WHY AM I REALLY GOING ABROAD?". Ask yourself the question, "DO I REALLY NEED TO GO THIS YEAR?". Ask yourself the question, "IF I HAVE TO END UP BACK IN INDIA, WILL I BE OK WITH THAT?". Hopefully some of the answers to these questions will help you get a better sense of your risk tolerance and you will make the smart decision.
It is NOT life as usual here in the United States. It is time for many of you to think about what you can achieve in your home country, instead of this desire to "flee" it.
You can throw stones at my arguments or criticize me as someone who is unnecessarily scaring you. You can choose to ignore my advice completely. But, I felt it my moral obligation to share these few words with you all!
Courtesy: Edulix.com &the register.co.uk
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