Is it worth of doing MBA after BE(CSE)?

MBA from UCT...worth it?

• I am from India and I have been accepted into the Graduate School of Business, University of Cape Town, MBA Full Time program.  Acceptance into the GSB-UCT MBA full time program ranks as one of the high points of my life and it thrills me beyond anything has in the recent past. But now that I have been accepted, I have some second thoughts revolving around cost, the job prospect, the future etc... Whatever I have saved will be enough to cover my living expenses but for the tuition, i would have to get a loan (about USD 40K).  I have a set of retired parents and I shudder at the prospect of asking them to dig into their hard-earned savings to help me pursue my goals. But, the fact is, world economy is precariously poised and a little jolt could send it plummeting into abyss. While I want to be optimistic about the future, I have to be a little pragmatic and ensure that I am not struggling for survival when and if the dreaded economic trough arrives. Being in a massive debt or worse, putting my parents under a massive debt is definitely not in my plans for a rainy day. Now, is the MBA program from UCT worth the risk? Is it worth taking out that loan? I would ideally want a job that pays me enough to pay off the loan in about an year or so. So...I would probably need a job outside India.  How difficult is it for Foreign UCT Graduates to find jobs in South Africa? How is UCT perceived outside of South Africa? Would it be possible to get a job in another country based on a MBA degree from Cape Town? Let me know! :)

• Answer:

  The UCT MBA is arguably the best in Africa and amongst the best in the world. It enjoys an excellent reputation in South Africa and UCT as a University is well recognised globally. Congratulations on getting in. But that's the stuff you already know. Job prospects in South Africa are generally limited but the country faces a severe skills shortage. Sounds like a dichotomy but it is effectively a First World Economy (Services heavy, reliant on knowledge workers etc) with a developing world Labour force. So if you bring the right skills to the table getting a Job is not that tough as a foreigner. Be prepared for a strenuous work permit process (Job Advertisement, Rejected Candidates CV's, Police Clearance Certificates from every country you have lived in). An MBA essentially gets you your first job and gives you a network. UCT provides you with a solid South African Network. Depending on your experience you would be a perfect candidate for a South African company entering/with an existing presence in India. Everything from finance (Old Mutual), retail (Shoprite-Checkers), Quick Service Retail (Debonairs), Media & Entertainment (Naspers - OLX, MXIT etc) have a presence in India plus International Giants like GM, Unilever, Volkswagen etc cross cultivate their developing world staff so for them you maybe an interesting candidate based on your prior experience. But you are playing on probabilities here essentially if you are able to network locally and have relatively scarce skills its more likely than not that you will get a job post MBA.  I would not advise on taking a loan to do it unless you have a similar amount saved for a rainy day as a fail safe because who knows where the economy will be in 2 years time. The risk is immense and prospects on the local economy vary enormously depending on who you speak to. If you have gotten into a decent Indian program rather stick to that Indian company's only recognise Indian Qualifications at a premium (and a few select international programs). Long term with increased SA-India trade a UCT MBA will help a lot on in establishing a South African network that you can leverage later. It is an exceptionally well tailored course and is generally attended by experienced professionals in SA. So you will be attending classes withe the country's next set of business leaders. However your eventual decision will be based on what is the alternative?