Student Diaries: ROI Of An MISB Education – Look Beneath The Surface
Okay so it’s that time of the year again – March. March comes with the end of winter, the promise of spring and, of course, the be all and end all of our student lives – exams and admission season!
With admissions for B-schools on full form, I’ve been having several discussions with potential applicants for the selection criteria of a good business school and in most of these conversations, we end up talking for hours about ROI. In my opinion, this ‘ROI’ is a very used and abused term in all our discussions, so I decided to apply my newly acquired accounting knowledge (Haha yes, I’m totally showing off my MISB Bocconi learning here since I have no background in accounting) to further investigate some accounting terms in the context of investment decisions with regards to a PGPB program.
Let’s start with the often used and abused ROI – ROI is defined as “the amount of return on an investment about the investment’s cost.” To calculate ROI, the benefit (or return) of investment is divided by the cost of the investment, and the result is expressed as a percentage or a ratio. So students typically look potential salaries post the PGPB vis a vis the cost of the program which includes fees, living expenses and the opportunity costs of leaving a job.
However, since the PGPB is an investment – and investments lead to the creation of assets. An asset is defined as anything tangible or intangible that can be owned or controlled to produce value and that is held to have positive economic value is considered an asset.
Let us now think about it in terms of a Post Graduate Program. We constantly compare the tangible piece – the economic returns in terms of salaries post recruitment opportunities after the program. So what MISB offers is in terms of the tangible context is comparable if not better than other business programs.
What I did want to address the intangible piece of the definition – What are the intangibles that MISB creates for you, that can have value in your life?
Let’s start with the faculty interactions – How many students can claim to have one on one conversations and played TT and foosball matches with professors who have authored several books, are leading authorities in their fields, sit on the boards of several companies and are consulting with some of the most reputable corporates in the world? For that matter How many students can claim to have had the most interesting conversation on meditation and mental stimulation over a drink with the Strategy Guru Robert Grant, and then been introduced to a boy because you were too shy to talk to him yourself, so he went and showed you how it’s done? I can! Why am I talking about this “silly” thing here – well it gave me an insight into the humility that goes hand in hand with success and forced me to face my fears head on, which was the creation of personal value for me right there.
Let’s also talk about the specialization semester in Milan – I am looking forward to this because like all international colleges, this goes beyond learning. The education process is an experience in living a different lifestyle and culture and hopefully exporting some Indian goodwill abroad! It also promises to be a life-changing event – travel and living in cultures that are different from yours gives you perspectives and insights that always add value to your life
Finally, I wanted to conclude with the freedom and sense of responsibility that MISB inculcates in you. How many colleges can vouch for engaging the students to such an extent that they willingly spend their free time extolling its virtues? ( Look at me writing this blog here, look at the responses to your questions on the student blogs and groups and holding coffee sessions where you can interact with them?) How many colleges give you the freedom to be yourself, and pursue your interests – ranging from the choice of a large variety specializations to CDS actively researching your career interests to bring your dream company on board for placements? These are all indications that MISB is the place for you to explore yourself – your capabilities, hopes, and dreams.
Here’s the last thought I want to leave you with – while considering returns on your investment in a PGPB program, salaries are important. But also, consider that you’re making a long-term investment in yourself and that the creation of a personal brand and that the intangibles associated with this program will be as essential in driving your growth and success. So whichever program you choose, I urge you to consider all of these before making a final decision.