A friend told me to help find out how much he will need financially to get HBS MBA. Though he needs a little less than $200,000 to complete the 2 year programme, but having N40m will just be fine so that he doesn't really on any grants or aids.

Frankly speaking, I don't think it makes much sense to hustle such amount only to give it to an Ivy league school.

I would rather start a business with the money and see if I can triple it in 3 years so I can go back to Harvard with better capital base.

What do you think?

No wonder I didnt go to Harvard!
N40m?! If I have such an amount, getting a Harvard degree will not, should not and cannot cross my mind.
[s]I'll seriously start respecting any Harvard graduate I see[/s]
e no easy.

Before? yes. Now, i don't think it's worth it that much. The top IBs that used to crave for Ivy grads seem not to be in good shape now. So, taking such risk with that huge amount of money may not be ideal. Also, it depends on why he needs the harvard MBA; ego or huge salary with mouth watering bonus?

If i must go to harvard it has to be company sponsored, scholarship or that i happen to fall into a financial windfall. I can't risk 40m just to get harvard kpali I am aware that harvard education opens a lot of doors and bestows a lot of respect to the holder. However, it will be most valued when it is on sponsorship or scholarship or anything close to that.

I don't know if an Msc from harvard opens the same door as much as the MBA, i would have recommended the Msc which seem relatively cheaper. Harvard education is like playing a lottery now, you either lose or gain.

chamber2:

Before? yes. Now, i don't think it's worth it that much. The top IBs that used to crave for Ivy grads seem not to be in good shape now. So, taking such risk with that huge amount of money may not be ideal. Also, it depends on why he needs the harvard MBA; ego or huge salary with mouth watering bonus?

If i must go to harvard it has to be company sponsored, scholarship or that i happen to fall into a financial windfall. I can't risk 40m just to get harvard kpali I am aware that harvard education opens a lot of doors and bestows a lot of respect to the holder. However, it will be most valued when it is on sponsorship or scholarship or anything close to that.

I don't know if an Msc from harvard opens the same door as much as the MBA, i would have recommended the Msc which seem relatively cheaper. Harvard education is like playing a lottery now, you either lose or gain.

If the OP is targeting the BB IBs, then I imagine that an MSc will not count that much. As you know, BSc or MSc or both-experience=IB analyst=small salary and meager benefits. But MBA + or - experience=IB associate=better salary and benefits. The total amount received last year by each associate at JP Morgan was $300K, while analysts did not receive up to half of this amount.

There is this HBS chick who used to be the Head of Financial Research at Zenith Capital. The chick was just on 1-2Milla per month. Do you know how many years it will take to recoup the money she spent  to study at HBS?  For me sha, I will not invest such money in HBS when scholarship boku brekete.

@OP, what is your friend's profile like? Has he been admitted yet? With a GMAT score of above 740, she/he should be able to get at least 30-50% off that huge amount. I know a chick who attended Emory Uni for her MBA and paid nothing! Tell your friend to open eyes and search for funding because they are available.

There is an Ivy league MBA grad I know who is a nairalander. He also works for one of these BBs in the US. I hope he sees this thread and comments on how to get fee abatement from all them these Ivys.

For me, like I said, never! Scholarship never finish for this world.

Yours truly,
T22.

Odunnu:

No wonder I didnt go to Harvard!
N40m?! If I have such an amount, getting a Harvard degree will not, should not and cannot cross my mind.
[s]I'll seriously start respecting any Harvard graduate I see[/s]
e no easy.

That is why they are very, very few in Naija's workforce. The ones available get promoted rapidly. Even Ox-bridge grads are multiple times more than them. They are like the faces of the companies where they work. They also have huge egos and believe they can get into any and every organization they desire. If you meet some of them in an occasion, they will introduce themselves to you as HBS grads.

E no easy sha. HBS is a very big one, so I can understand them.

If I have lots of cash to spare, I can just go for the experience and the networking.
I would be mad to borrow money to do that, just for the so-called promise of an IB job. IB ko, Okene ni

But for someone taking 3rd world money to go to Harvard, that sounds just wrong

tanimola22:

That is why they are very, very few in Naija's workforce. The ones available get promoted rapidly. Even Ox-bridge grads are multiple times more than them. They are like the faces of the companies where they work. They also have huge egos and believe they can get into any and every organization they desire. If you meet some of them in an occasion, they will introduce themselves to you as HBS grads.

E no easy sha. HBS is a very big one, so I can understand them.

You'd be very surprised how many HBS MBAs are working in Nigeria these days.

Harvard rarely offers MSc (MS in the states)

Loads of top MBAs give financial aid to the academically capable especially from underrepresented regions like Africa

If you are not young (Like in your 20s or early 30s) it would not be easy to get an associate position in a BB. Harvard or not these people tend to be more willing to hire a young crowd except maybe you had prior experience in IB as an analyst (this is what i heard from family friends who did an MBA at top ten school s but ended up coming back to nigeria). They pointed out that most of the people being headhunted for those positions where the younger folks.

SEFAGO:

Harvard rarely offers MSc (MS in the states)

Loads of top MBAs give financial aid to the academically capable especially from underrepresented regions like Africa

If you are not young (Like in your 20s or early 30s) it would not be easy to get an associate position in a BB. Harvard or not these people tend to be more willing to hire a young crowd except maybe you had prior experience in IB as an analyst (this is what i heard from family friends who did an MBA at top ten school s but ended up coming back to nigeria). They pointed out that most of the people being headhunted for those positions where the younger folks.

I am just getting to know that age is also an issue in the States. Interesting. Naija is not left alone on this one.

Yes of course!!


The look on Papa Nkechi's face when I come back with the paper is priceless,
in fact he will waive the bride price, forget the fact I'm Hausa and rename the town!

_{You can get some hbs weekend certificate course for less than $50k ask many Senior bank managers in Nigeria
and those nddc members}

tanimola22:


I am just getting to know that age is also an issue in the States. Interesting. Naija is not left alone on this one.

I dont know if age is an issue per se but I think most people past a certain age do not see the point of working long hours when they can get a comfy 9-6 job in nigeria with company car and loads of benefit. Whats the point of working for money you will not enjoy

Dis Guy:

Yes of course!!


The look on Papa Nkechi's face when I come back with the paper is priceless,
in fact he will waive the bride price, forget the fact I'm Hausa and rename the town!

_{You can get some hbs weekend certificate course for less than $50k ask many Senior bank managers in Nigeria
and those nddc members}

No normal and informed person takes those "executive education" courses seriously

SEFAGO:


No normal and informed person takes those "executive education" courses seriously

these are already senior executives, the are not searching for jobs or promotion, just the Havard name

if you read bios on company website (for some weird reason, i find myself doing this even after the NSE crashed) you'll notice their 'training both home and abroad' it wont exactly say what programmes the went for

I doubt Elumelu and co left their office for 2 years

I would rather start a business with the money and see if I can triple it in 3 years so I can go back to Harvard with better capital base.

with 120milla, you can start your own boutique invesment company, employ loads of top graduates

Dis Guy:

these are already senior executives, the are not searching for jobs or promotion, just the Havard name

if you read bios on company website (for some weird reason, i find myself doing this even after the NSE crashed) you'll notice their 'training both home and abroad' it wont exactly say what programmes the went for

I doubt Elumelu and co left their office for 2 years

SEFAGO is talking from the Yankee Student perspective.

I've attended a couple of those 'executive programs' over the last couple of years. Nice time away from the office in my view , and it helps to shape your strategic viewpoint, if you have been in line or middle management for a while.

IMHO, HBS is a waste of time and money for Nigerians, especially if what you're looking for is a job in Nigeria. If you intend to get 'top-rated' experience internationally, well, sure if you have the money or the funding. If not, I'm sure there are equally sound, much cheaper, if less prestigious, programs around. One size can't possibly fit all.

I know someone who went to Columbia and came back to his very same job in Nigeria. Another person is working in the same procurement job, after a Harvard MBA, competing with Naija grads that don't even have a graduate degree . I wonder how they both feel about that

Though I know a few peeps who were sponsored by Access Bank to do the Sloan Fellow thingie, an executive MBA or MS Management program that you do at MIT for a year. They came back to join the bank.

Remember that most academic programs are crammed with tons of useless information anyways.

SEFAGO is talking from the Yankee Student perspective.

LOL keep making yourself happy with google .

An MBA is not seen as academic and no one does an MBA for the classes or really to learn anything of value. Its name branding and people know that when go and do an MBA. I still never understand why people keep on bring up the class content issue like its rocket science.

I meant those executive education programs do not get you recruited for anything neither are they a major addition in your CV. The MBA brand is what makes Harvard business School elite and the executive education is just a money spinner for them for people gullible enough to pay for them.

IMHO, HBS is a waste of time and money for Nigerians, especially if what you're looking for is a job in Nigeria. If you intend to get 'top-rated' experience internationally, well, sure if you have the money or the funding. If not, I'm sure there are equally sound, much cheaper, if less prestigious, programs around. One size can't possibly fit all.

Enjoy your ignorance and lack of exposure. Ignorance is indeed bliss.

Remember that most academic programs are crammed with tons of useless information anyways.

And for chrissake no respectable person really considers an MBA an "academic" program. I dont blame you sha for your disdain for education.

The people you listed below are just lazy people and exception to the rules it does not mean that they are the general case of nigerians who go to HBS or CBS.

SEFAGO:

LOL keep making yourself happy with google  .

An MBA is not seen as academic and no one does an MBA for the classes or really to learn anything of value. Its name branding and people know that when go and do an MBA. I still never understand why people keep on bring up the class content issue like its rocket science.

I meant those executive education programs do not get you recruited for anything neither are they a major addition in your CV. The MBA brand is what makes Harvard business School elite and the executive education is just a money spinner for them for people gullible enough to pay for them.

Enjoy your ignorance and lack of exposure. Ignorance is indeed bliss.

And for chrissake no respectable person really considers an MBA an "academic" program. I dont blame you sha for your disdain for education.

The people you listed below are just lazy people and exception to the rules it does not mean that they are the general case of nigerians who go to HBS or CBS.

You didnt read the other part of that quote or perhaps you didnt consider it useful?

HBS is a waste of time and money for Nigerians, especially if what you're looking for is a job in Nigeria

Do you honestly think Nigerian companies can pay HBS MBA salaries?

It's like going to the RADA just to get into Nollywood

SEFAGO:

LOL keep making yourself happy with google  .

An MBA is not seen as academic and no one does an MBA for the classes or really to learn anything of value. Its name branding and people know that when go and do an MBA. I still never understand why people keep on bring up the class content issue like its rocket science.

I meant those executive education programs do not get you recruited for anything neither are they a major addition in your CV. The MBA brand is what makes Harvard business School elite and the executive education is just a money spinner for them for people gullible enough to pay for them.

Enjoy your ignorance and lack of exposure. Ignorance is indeed bliss.

And for chrissake no respectable person really considers an MBA an "academic" program. I dont blame you sha for your disdain for education.

The people you listed below are just lazy people and exception to the rules it does not mean that they are the general case of nigerians who go to HBS or CBS.

LOL@ your reaction to my 'student' jibe. Well, don't blame me. You always jump on all these Ivy-League-School threads, and are very quick with opinions about schools across the globe. I can't help but conclude that you still attend one Not like that is such a bad thing really.


Some of us are like Ade Bendel, you know, so you won't blame us for our ignorance of these matters. Ignorance is bliss jare

Moni we no get,
Book we no sabi

Dis Guy:

You didnt read the other part of that quote or perhaps you didnt consider it useful?

HBS is a waste of time and money for Nigerians, especially if what you're looking for is a job in Nigeria

Do you honestly think Nigerian companies can pay HBS MBA salaries?

It's like going to the RADA just to get into Nollywood

I did. That statement is not really true, and his second qualification is not either. Infact its the main reason I stuck in the thread, I had this discussion with a friend like day ago so it was coincidental this came up. He was asking me the point of such an MBA if your major gain is (networking) is useless in Nigeria when you can network more at Lagos Business school. I pointed out that might be true but lets put this in context- if you get into HBS its likely you have strong work experience, its very likely you have a gameplan and a reason for going there. Its not a waste for these individuals. It means there is a lot you can do with the brand. the average salary out of an MBA is 100K, I bet a lot of Nigerian companies can pay that (Sebi i dey read Nairaland).How do all of you build your houses in Lekki, VI et al. by mortgage?

What about multinationals and their extensions (Mckinsey is in Nigeria, some foreign private equity firms)- you think they will not be able to pay a good salary? Oil companies? kini big deal about 12-14 million Naira a year.

Moni we no get,
Book we no sabi

No personal attack, but you tend to always try and downplay anything foreign and remotely academic. You also make your claims based on casual observations- basically gross generalization.

Ok, I will give my 2 cents on this topic. Some fundamental questions need to be answered by the poster? Is your friend already in the states or is he still in Naija? Is this N40M from sweat equity or is he a “trust fund baby”. What field does he intend to pursue after HBS? I-baking, P/E, VC, Consulting or corporate role?
Recently, HBS has been “biased” towards younger candidates, a friend of mine was rejected after having going the 2+2 route (analayst/Associate- in an IB) and got some PE experience and he was only 28. The tend to go for the 24-27yrs old crowd (disclaimer- my friend is a white male) B-schools tend to want to diversify their candidate pool and you friend’s age should not hinder him since he is black male and that will be favorable in the admissions process, provided he aces his GMAT and has a lot of extracurricular/leadership activities. HBS best prepares you for the corporate management/consulting kind of roles, they are known for their case study approach. So if your boy wants to get up the corporate ladder then HBS is a no brainer. If on the other hand he wants to do the I-Bank route – I will highly recommend he goes to Wharton, Booth, or Columbia since there are known for their rigorous finance curriculum. Wharton and Booth rule trading bullpens in NYC so you have a strong alumni base. If he wants to be an entrepreneur or work for VC/PE, Stanford is the way to go.

As someone already pointed out, an MBA is not academic per say, its all about NETWORKING and building your brand, your networks take you a long way. With all the regulations and all the Europe wahala going on now, I will not bank on I-banking jobs to be a safe bet, you might get hired and get laid off 9 months later ( UBS did this to their analyst class two years ago) and word on the street is that there will be more layoffs.

So it really depends on what he wants to do post b-school that really matters. His ROI might not be worthwhile if he goes back to naija because there are other candidates with same qualifications that he will have to compete with. If he is using daddy’s money then he should go for it, I am sure daddy can get him a job once he is done.

If he has the skill set, I will say he should just be a straight up entrepreneur, that money can be easily tripled in 12 months. If he wants to triple that money in 1 month – then he can be a trader. Hope this helps.

SEFAGO:

I did. That statement is not really true, and his second qualification is not either. Infact its the main reason I stuck in the thread, I had this discussion with a friend like day ago so it was coincidental this came up. He was asking me the point of such an MBA if your major gain is (networking) is useless in Nigeria when you can network more at Lagos Business school. I pointed out that might be true but lets put this in context- if you get into HBS its likely you have strong work experience, its very likely you have a gameplan and a reason for going there. Its not a waste for these individuals. It means there is a lot you can do with the brand. the average salary out of an MBA is 100K, I bet a lot of Nigerian companies can pay that (Sebi i dey read Nairaland).How do all of you build your houses in Lekki, VI et al. by mortgage?

What about multinationals and their extensions (Mckinsey is in Nigeria, some foreign private equity firms)- you think they will not be able to pay a good salary? Oil companies? kini big deal about 12-14 million Naira a year.


No personal attack, but you tend to always try and downplay anything foreign and remotely academic. You also make your claims based on casual observations- basically gross generalization.

You see now why I think you're a student.
You only think in one direction. Ivy League College = bulge bracket PE firm or Big 5 Consulting. In Nigeria?
Those skills or qualifications are not as valued in Nigeria as you think. There are lots of Ivy League MBAs in the system, PhDs even. They don't walk into senior management jobs, not by a long shot, not without experience.

McKinsey is not even big in Nigeria. They are only doing specialty projects for MNCs like mine. We routinely use them, Booz, Accenture, even European consulting shops like Detecon. But how many local corporates, the banks, the Oandos, the Saharas or Zenons, even the Glos, would engage Mckinsey? Not because of their rates, and I've used them on some of my projects. They simply don't see the value in those things.

Also, 12-14 million is not anything special in Nigeria, not any more. I once did a 2-year contract at a telco in this same Africa, on a 700-euro-a-day rate. And that was 5 years ago, and I am certainly not an exception. An Ivy league MBA had nothing to do with that.

Oh, by the way, no offence taken. Plus I don't necessarily set out to downplay foreign education. I just find the aggressive oversell interesting, especially on Nairaland, and from folks like you. Interesting because I live and work in the real world.

^ Ok you are correct.

Have fun

My brother go ahead you are in the right path ,spent the money and acquire the necessary skills and be at the top.
it is a worthwhile career path.knowledge is power ,you can give what you dont have ,you only give what you have.
The MBA is knowledge base.Go for it ,remember my destiny is different for any other destiny.Business ,Business what business?
Please,dont forget that what you about to do is also scholatic business i.e business of intelectual and use to make money.
Business at high level.i pray that the good Lord will see you through in Jesus name.

AjanleKoko:

You see now why I think you're a student.
You only think in one direction. Ivy League College = bulge bracket PE firm or Big 5 Consulting. In Nigeria?
Those skills or qualifications are not as valued in Nigeria as you think. There are lots of Ivy League MBAs in the system, PhDs even. They don't walk into senior management jobs, not by a long shot, not without experience.

McKinsey is not even big in Nigeria. They are only doing specialty projects for MNCs like mine. We routinely use them, Booz, Accenture, even European consulting shops like Detecon. But how many local corporates, the banks, the Oandos, the Saharas or Zenons, even the Glos, would engage Mckinsey? Not because of their rates, and I've used them on some of my projects. They simply don't see the value in those things.

Also, 12-14 million is not anything special in Nigeria, not any more. I once did a 2-year contract at a telco in this same Africa, on a 700-euro-a-day rate. And that was 5 years ago, and I am certainly not an exception. An Ivy league MBA had nothing to do with that.

Oh, by the way, no offence taken. Plus I don't necessarily set out to downplay foreign education. I just find the aggressive oversell interesting, especially on Nairaland, and from folks like you. Interesting because I live and work in the real world.

How many days did the contract last? 240x2x700? I want to multiply!

AjanleKoko:

LOL@ your reaction to my 'student' jibe. Well, don't blame me. You always jump on all these Ivy-League-School threads, and are very quick with opinions about schools across the globe. I can't help but conclude that you still attend one Not like that is such a bad thing really.


Some of us are like Ade Bendel, you know, so you won't blame us for our ignorance of these matters. Ignorance is bliss jare

Moni we no get,
Book we no sabi

Spot on!

we had this seminar last week on business acumen

and this was a big topic - the fact that what you learn in all these western business schools does not work in nigeria

its like a training on prince2 - prince 2 means projects in controlled environments . automatically, the engineers pointed out the fail.

nigeria, and most of africa is not a controlled environment - so 80% of the stuff in prince 2 goes out the window

MTN vs vodacom or was it vodafone was cited as another example. voda came in with their fancy western business models and concluded that they couldn't make it in nigeria. MTN didn't go that route - and the rest is history - they grew from an SA third stringer to a force across africa.

ajanlekkoko has said it imho - hbs is for networking. 90% of what you are taught there is not designed for chaotic third world societies, with radically different demographics etal.

How many Harvard MBA does Bill Gates, Adenuga, Dangote, d <30yr old founder/owner of facebook have?
What exactly is in your mind?

Hello ,
In this world we live in ,One can not rule out the fact that  it is a learning world,Anyone who is not learning will sooner or later become obsolete.
The most powerful president in the world Obama is still learning and it is this learning that makes him powerful.infact to be quite honest the world has changed and is changing every day.Life itself is not fair and difficult it is only divine wisdom that distinguishes one and so Human brain is limited.If it does not work for
you that does not mean it will not work for another.No matter what paper qualification one obtain that does not mean one can not succed if
God favour comes into  a life.The best teacher is the holy spirit.My friend pray about it and hear clearly from God and What ever  the owner of the Universe tells you obey.
Thank You

oyb:

we had this seminar last week on business acumen

and this was a big topic - the fact that what you learn in all these western business schools does not work in nigeria

its like a training on prince2 - prince 2 means projects in controlled environments . automatically, the engineers pointed out the fail.

nigeria, and most of africa is not a controlled environment - so 80% of the stuff in prince 2 goes out the window

MTN vs vodacom or was it vodafone was cited as another example. voda came in with their fancy western business models and concluded that they couldn't make it in nigeria. MTN didn't go that route - and the rest is history - they grew from an SA third stringer to a force across africa.

ajanlekkoko has said it imho - hbs is for networking. 90% of what you are taught there is not designed for chaotic third world societies, with radically different demographics etal.

Actually MTN was a second stringer
But, still on point. I'll even go further to say, many of these so-called A-list schools are creating convenience programs that seem to cater to some specific perceived 'needs'.

For example, all of a sudden there are so many schools offering 'specialist' MBAs in Infotech, and Energy. Why would you need to get a specialised MBA in IT, or in Petroleum? Doesn't the word 'specialist' even render the whole MBA argument moot?

Me I have many Ivy League alumni colleagues sha.

go get the degree then come back an makes all the dollars you need

It is worth it only if i would be making 10 million naira per day.

No one tells the truth about student loans and interest rates , you won't enjoy your salary because you have soo much student loans to pay back.


If you have a job and don't need a Harvard MBA good for you, Some Nigerians will do some certificate courses at Harvard and then try to [b]exaggerate [/b]that they did an MBA at Harvard, I know a girl doing a certifiicate course in Human Resources and she always lies that she is going for an MBA.

If you plan to work in Nigeria you can get away with this LIE, Anyways,, if you can't afford it, don't go BUT if you get a scholarship to go, you better take it. The experience is worth it. Lots of educated girls who are very Hot and like to fcck, no strings attach!

Amongst the Ivy League, Wharton ranks high in the least employable graduates , So don't waste your time going to Wharton, unless someone is paying for it of course,


Since the recession NO ONE IS HIRING, you are better off with an MS in information management systems than an MBA in Finance unless you plan to work for the Nigerian government directly, Bank jobs are nothing to write home about. They are not fun and very stressful.

Dude. You've only crossed one of the hurdles (that's raising the capital), the bigger huddle is getting admitted. There are thousands out there with much more money to burn but have been denied admission. Will I even call raising the money a hurdle? lol