For everyone exploring I-Banking, first you have to make sure you understand exactly what Investment Banking is and what it's not. Try to understand what the entry level jobs are and exactly what Analysts/Associates do at that level. You should also know that in the developed economies it is a roughly 10 to 12 year apprenticeship to truly become an Investment Banker. If you still like it after getting all these information, then maybe you have a shot at it. It's may not be as sexy as you think. Of course you can also pursue it as a means to other ends.

X-factoria:

SEFAGO:

In the past, many of the Ivy League schools have private loan schemes for international students that would not require a co-signer. But lately, a good number of them have cancelled the scheme. However, schools like Emory and Kenan-Flagler still do the loan schemes for their international students without co-signer and country of origin bias.

If one is looking to get some international work experience, then an MBA in Europe may not be really worth it because of this EU thing. You may likely not hook a job within a reasonable time. Just as you concluded, the US MBA programs are the most attractive is terms of quality and post MBA prospects.

OP:

Are you even sure that HBS would offer you admission in the first place? Those Ivy League schools would always tell you that, money is the least of your problem. Although I know that some of their students find their ways there because their family has got an endowment there, but 90% of their students made it there because of their quality. Attending Havard is not just about you having the money, you need to be of their expected quality.

About the job prospects, you will only be disappointed if you do not allow Havard to pass through you. If you leverage the alumni networks and the reps of the Havard MBA, you CANNOT be stranded!

Finally, a well informed poster.

I see some insightful comments to this interesting and often controversial topic about the value of an Ivy League MBA (or any MBA for that matter). Unfortunately, many commentators appear to be limited by what they see around them locally in imagining the possibilities and the doors that can be opened through a powerful global network.

olawalebab:

is there no school that give scholarship for the programme? be in Nigeria or Abroad

There are many. Many of them are looking to diversify their programs and I've observed a focus on Africa lately. Many of them have in fact been coming to Lagos to make presentations.

The only catch is that your application has to be stellar! You'll be competing with a lot of other outstanding applicants as you can imagine.

tanimola22:


That is interesting. Do the loans cover every cost? What is the mode of repayment? Abeg expatiate upon the student loans.

Thanks,

It depends on the school. Some will give you enough money to cover everything. In which case you'll have an incredible amount of debt when you are done. Some others will only provide loan for tuition, books and computer while you'll be expected to fund your living and feeding expenses. They'll need you to show financial proof that you can cover whatever they are not funding.

aribisala0:

IS THIS STILL THE CASE? 2011

Yes it is. A lot of the funding dried up during the credit crunch circa 08 and 09 but they are back now. This should be one of the most important things to check on the school's website. For most of the top schools, no co-signing is required.

chamber2:

One thing with top MBA programs is the cost. So high. People like me, with lots of family and personal financial commitments will not afford, even after working for many years. My strategy is to get my MBA from any decent school and then later go for an Msc in a top school. I think MSC from a top school will be pretty cheaper compare to the MBA. At least the top 10-20 will be okay. The cost of these cut throat MBA programs can be very scary. I would rather do my MSC in a Nigerian university than to attend ''anyhow'' school abroad.

Most Top 20 MBA programs in the US have student loans for International Students as long as they make you an admission offer.

Good questions asked by the poster but it may be too serious for this forum.

fs:

When people are talking about bankers in Nigeria, what type of bankers exactly? Investment bankers? Bankers that work at branches of commercial banks? I get confused. Over here, those two are very very different and bankers that work at commercial banks definitely do not work long hours. Investment bankers do work long hours in many countries though. So my question is what type of bankers are these?

@fs - When folks in Nigeria talk about banking, it is generally about commercial banking. I've done commercial banking in Nigeria and Investment Banking Stateside. Like someone rightly said, some of the long hours can be attributed to deliberate decisions to stay back at work to beat traffic while at other times, it's just a couple of random stuffs that may not be absolutely necessary. A bank I worked for back in the day actually made it mandatory for everyone to show up at work at the Victoria Island head office every Saturday. Of course, they scrapped the idea when they found that the phone bills went through the roof over the weekend as employees merely seized the opportunity to chat away at the bank's expense (cell phones were not prevalent then) and nothing was really getting done. I doubt if Diamondbank's pronouncement will really change the culture. Those that need to work late will work late. Maybe putting in "face time" to look good to the boss will reduce though.

I think a clear distinction should be made between Bankers and Bank workers. Bank workers do not need to work late. Maybe the actual bankers in frontline revenue generating roles need to put in a little more time since it is a universally competitive industry. To whom much is given, much should be expected right?

I didn't think it was possible but I found 16 hour workdays to be routine in Investment Banking in the western world. Of course we cannot compare this to commercial banking in Nigeria. The stakes are much higher in investment Banking and this probably a discussion for another thread.

Sorry you lost your job. Welcome to the reality you have been hearing about all over the world. Job cuts are probably a strange phenomenon in Naija but in the western world, they are always so quick to layoff at the slightest sign of business downturn. Keep your head up and you'll land something else soon.

For those considering moving to the US or UK, these are some of the realities you'll have to be ready to deal with. There is no such thing as job security around here.

Without a doubt, it's Ife! There is something about the school that drives you to succeed even years after leaving. Forget about the fact that having "extra" is almost standard and we pioneered the use of okada on campus before the rest of the country caught on. I run into Great Ife Alums in highly competitive positions in the US and UK all the time.

Great Gbosa!