[tweetmeme source=”akhilsethi” only_single=false] For over a century, US has been the largest economy in the world, but if we see the last 30 years or so, we are observing that the economic power is shifting from the West to the East now, especially towards China and India. The world economy is changing from a uni-polar one with the emergence of China and later, maybe after a decade or so, it will change to a tri-polar one with the emergence of India.
According to a report released by PricewaterhouseCoopers (PWC), in 2008, India to grow to almost 90% of US economy by 2050 and China to overtake US economy by 2025 & will continue to grow to around 130% of the size of the US by 2050.
My reason for quoting all this is to show how important China and India will be in the next 20-25 years and working in these two countries could prove to be very useful. Yesterday, I read an article on importance of having work experience in China and how it will be helpful to boost your career. The article suggested that working in China, knowing how the business is done, connecting with the business community and knowing how to solve business problems here, will definitely be valuable for your professional career.
Now comes, why doing mba is important now in these countries. Firstly, the quality of mba schools in both the countries is getting better and better. With the advent of economic growth, the govt. of both the countries is investing heavily in infrastructure as well on the quality of education. We all know Kapil Sibal is taking some bold initiatives to change the present state of higher education in India.
Apart from it, another reason that can be stated is the growing domestic salaries received by the mba graduates in both China and India. If we adjust the salaries of mba graduates with purchasing power parity (PPP), we can conclude that these salaries are on par with those earned by the graduates of top b-schools of the west. Also, unlike in the U.S., state- and family-owned enterprises constitute the large majority of corporations in both China and India. In both economies, market realities too are radically different from those in the U.S. Leading indigenous mba programs are able to provide much greater exposure to these contextual realities than Harvard or Stanford ever could.
As an mba graduate, I can say that the teaching methodology, the case studies, the faculties all will equip students of doing business in these countries & familiarize them with those contextual realities. And since these countries are rapidly growing, they will provide immense opportunities in different sectors to start your professional career.
What are your opinion friends, whether there is any difference….. in doing mba from China/India or it doesn’t matter much…..or doing an mba from US is more beneficial……???