How do people generally finance their MBA from IIMs/ISB and will working in the financial domain before MBA really help? (Please see details)

1) Financing: You don't need to worry too much about getting loans. At least at IIM-A, you can get loans without involving your parents at all, that too on the campus itself. It's pretty much hassle-free. 2.) Job It's really up to you. Both kinds of people do come here, and are equally successful. It's about your personal interest. As far as the finance factor goes, it's also about what you want to do post-MBA. If you are interested in starting-up, you should try to minimise your loans as far as possible. Otherwise, it shouldn't be too big a concern in the large scheme of things. 3.) FMS I wouldn't advise that. Although nobody can deny that FMS is a good college, even students over there would vouch that the old IIMs are a class apart. Of course, the practically negligible fees looks very attractive, but if you do make it to IIM-ABC, you wouldn't want to miss out on that opportunity. This is just my opinion. You can cross that bridge when it comes, by talking to pass-outs from these colleges and then coming to a decision. If you focus on getting into the IIMs, you should be able to make it to FMS anyway.

I think if you do manage to get in to a tier I institute, getting a collateral free loan should not be a problem. Generally, it is not a good idea to choose jobs based on salary :) Just take the exam, get through a tier I institute. Loan melas are there... and this is collateral free loan. ROI is rather good for tier I institutes. You are worrying unnecessarily. My 2 cents :)

I joined ISB after working for 6 years. I sponsored my MBA completely with a loan. The loans process was very easy. Many banks were ready to give me a loan without collateral (ISB has tie ups with many banks that offer loans for the course) I did not have to sign on any collateral, but it is essential to submit documentation of your and your parents property details. These are only for the banks records and not used a collateral. In my class about 60% or more people financed their ISB education with an education loan. Almost no one rejects an ISB admit because of the high fees. (Or at least that's what I have seen). The financial institutions lending to top institutes in India really do a good job of getting you a hassle free, collateral free loan. About looking for job vs pursuing an MBA, I would personally recommend working for a few years before going for the MBA. I believe that a few years at work really beings the MBA content in perspective. That is very useful when you are taking the course. Also the class discussions at ISB (and most good b-schools) will expect you to draw upon your experience and you'll be able to relate to these discussions better with some work experience. As far as saving for your MBA goes, there are ups and downs to sponsoring your MBA by your savings vs a loan. This really is an individual decision and is less important than the bigger scheme of things: namely planning your pre MBA and post MBA career. Keep that as the more important thing in your plan than the finances. Hope it helps. All the best with the MBA :)