In a free-wheeling interview, Sameer Kamat, founder of MBA Crystal Ball and author of ‘Beyond the MBA Hype’ shares his journey. And offers unbiased advice to those who are thinking of walking down that path.
Tell me a little bit about yourself.
I’m a computer engineer from VESIT (Mumbai) and after that I joind Citicorp. Worked in India and abroad on multiple assignments and then decided to move beyond pure technical work. So I joined PricewaterhouseCoopers in their management consulting division.
Why MBA?
In my consulting role, though the client, geography and technology changed with every project, essentially it was more of the same. That’s when I started researching options, and an international MBA seemed like a good way to change careers.
Did you focus only on top schools abroad?
My professional work involved a substantial amount of global travel. So I figured it would be logical to continue the international exposure by getting into a top bschool abroad where the class profile would be very diverse and international.
What was your GMAT score?
I’m not good at standardized tests. For someone from a tech/engineering/male background [considered to be the toughest applicant pool when it comes to global MBA applications] my GMAT score was quite low (below 700). So I knew that the rest of my application strategy had to be really strong.
How did you shortlist and decide where to apply?
This was the most confusing part. In India, the CAT score plays a significant role in getting interview calls from bschools. For international MBA programs, GMAT is important. But there are other aspects that are equally, if not more important.
Many of these are quite subjective, like the concept of ‘Fit’. It’s like a compatibility test where you need to convince the school that you are both made for each other. Plus there are factors such as post-MBA plans, professional background, number of years of work experience.
Considering all these, I felt I would not ‘fit’ into a 2-year program. A 1-year program in the UK would provide the RoI (Return on Investment) I was looking for.
Why Cambridge Judge and how was the experience?
My medium-to-long term plans were to get back to India. So I wanted a brand that was strong enough to get me a job abroad as well as in India. The University of Cambridge has been around for over 8 centuries and it’s a very well respected brand in India as well.
I was also drawn by the personality of the MBA program. Compared to the veterans in the MBA industry, this program is relatively young. It’s more collaborative than many others, and there’s a strong focus on experiential learning. Though you still have to be on your toes and compete with other extremely talented folks for grades, internships and jobs.
I got the opportunity to interact with entrepreneurs, I-bankers, scientists, management consultants, Olympic level sportsmen, iconic business leaders and Nobel prize winners. It was a fantastic experience.
How did you fund your education and how did you manage the EMI repayments?
I was lucky to have got 2 scholarships at Cambridge. That took care of a considerable chunk of the financing. Plus the bschool had a tie-up with a UK bank to provide education loans for accepted candidates.
Did you work in the UK or come back immediately?
After completing my MBA, I had a few options to stay back in the UK – with my former employer (but in a more business-focused role), with a strategy consulting firm (where I did my internship) and with a startup (that my team helped during the program). This was before the recession, so the job market was a little better. I had planned to work there for a few years, repay the GBP loan and then get back to India.
But due to a twist in the tale, I ended up accepting a job that brought me back to India immediately after graduation.
I was in India for a short vacation when I came across a team that was setting up a new office in India and they were looking for folks for their corporate finance work. The German Managing Director who interviewed me made the role sound interesting, so I decided to make a complete career change and start my post-MBA career directly in India. I worked in the area of Mergers & Acquisitions for 5 years after my MBA.
When did you start the website MBA Crystal Ball? Why do it?
When I was applying to bschools, I considered myself to be a dark horse. Most stats weren’t working in my favour (age, test scores, professional background). So I had put in extra efforts to ensure that my application was water-tight – right from thinking about the rationale for an MBA, the post-MBA career plans, explaining what made my profile unique while competing in the tough applicant pool.
After graduating, I started helping others who needed a helping hand in doing exactly what I had done for myself. I did it for free (it was more a passion than a business idea for me) and they started getting into the top schools.
The right mentoring can make a lot of difference when the competition is global and intense. Though Indian applicants are strong at cracking standardized tests, our education system doesn’t prepare us to tackle abstract and introspective questions that are part of the MBA application process.
The concept of MBA admissions consulting is relatively new in India and I felt maybe this was something where I can make a small difference.
How and when did you quit your job to focus on it full time?
Outside India, the premium admissions consulting model is well-established and attracts high-caliber talent (top MBA grads who’ve also done well in the business world). In India, it is mostly taken up as a part-time activity. That’s how I started off as well.
I created a product (it’s called the MBA Mock Application Process or in short - MBA MAP). It simulates an application process for the top-100 schools and provides chances of getting into each. That got an encouraging response (cost: Rs 9000/ $ 250). It might be the only Indian product in the admissions consulting field to have been ‘exported’ to other countries. I realized that the only way I could do justice to it would be if I focused on it on a full-time basis. So I quit my M&A job about a year back to manage MBA Crystal Ball.
Does the site make money for you yet? What’s the kind of traffic you get?
I don’t use the site to make money. In fact, there was no website for a pretty long time. Most folks reached out to us (and our services) due to word-of-mouth publicity. When folks started asking for my website URL, rather than giving creative answers each time, I guessed an easier option would be to create a simple website. So I got a domain (http://www.mbacrystalball.com/) registered and launched the site.
We get several thousand hits from candidates who are seriously considering a career transformation or just curious about evaluating career growth options. So we use the site more as a platform to share broader ideas. On our blog you’ll find content that sometimes has absolutely nothing to do with the services we provide. We recently published about non-MBA careers, like social service, teaching jobs. You’ll also find a guest post by a Gladrags model on careers in the glamour business.
When did the idea of a book come?
I wrote ‘Beyond The MBA Hype’ in 2006 after I had completed my MBA. When I was applying to bschools, most of the articles I read in newspapers and websites were about how an MBA will have a magical effect on the candidate’s career, financial status and life. And I really wondered how much of that was true and how much was hype.
After having gone through the experience I thought somebody needed to also share aspects that never got talked about – the education, building new skills, internships, the career hunt from an Indian candidate’s perspective (most books on this topic are written by international authors).
The book was not created to promote MBA Crystal Ball (it didn’t exist, at the time). In fact, those who’ve read ‘Beyond The MBA Hype’ tell me I shouldn’t have got it published as it is detrimental to my business interests. Instead of pushing more prospective aspirants to apply blindly to the top schools (and fill our coffers), the book recommends exactly the opposite.
The basic message is to step back and evaluate simpler, easier and less risky options to reach their goals.
How easy (or difficult) was it, to get published?
‘Beyond The MBA Hype’ has taken over 5 years to get published. I initially tried to get it published in the US, thinking that’s where the MBA market is. Publishers and literary agents who liked the concept turned it down saying a first time author without a saleable name would be a tough sell.
So I changed focus to India, not knowing if there would be any takers, as the international MBA market is extremely small and niche.
Fortunately, I found a good literary agent who sold it to HarperCollins. For new authors struggling to get published and going through a similar roller coaster ride, I share tips on my personal site: (http://www.sameerkamat.com/)
Who is your core target audience?
- Professionals with 2-10 years work experience, who are thinking of ways to take their career to the next level.
- Recent graduates who’ve not been lucky with the Indian MBA entrance exams (CAT, plus all the variations) and are thinking of applying to international MBA programs.
- Anybody who’s stagnated (frustrated) in their current job and thinking that an overseas MBA might be an easy way out.
How has the book been received?
Considering the initial apprehensions, it’s done exceedingly well. The first print got sold out in under 3 months, the second print-run is out.
Given the weak economic situation globally, would you advise people to look at an MBA abroad?
The message in the book is more relevant today than it was when I wrote it. The global economic situation should force MBA applicants to really get their game-plan sorted out.
Having said that, an investment in quality education is the best one can make as you are investing in yourself. So there’s more incentive to see yourself being successful. A well-designed MBA plan with risk scenarios clearly identified and mitigated is the best way to approach it.
For MBA applicants, I’d say do your homework, choose your schools well, put a best-case and worst-case career plan in place and go for it only when you are really confident.
Do you recommend 2 year or 1 year programs?
Both have their pros and cons. The profile and the career aspirations of the candidate should influence the choice. Where you want to work will also play a big role in choosing the school. Managing transnational placements is becoming tougher. Consider the average class profile for each school you are applying to, see if/how you’d fit in.
Is it possible to get a job in the US or Europe for a fresh, non-citizen MBA?
Possible? Yes. Easy? No.
The recruiter has to have a strong reason to go the extra distance and sponsor the international candidate’s work-permit. For complete career changers, it’s become more difficult.
The good part is that a ‘fresh’ MBA in an international MBA program comes in with an average of 4-5 years work-ex. So pre-MBA experience and skills can be leveraged while job hunting.
If instead, you return to India does the global alumni network help in finding a job?
They can, but in a soft economy there are limitations to what they can do. So I’d say, don’t depend only on the alumni network. Reach out to anyone and everyone who can help.
What’s the typical profile of people who get into top 20 bschools internationally?
For 2 year US-format programs: Average age: 26-27, Average work-experience: 4-5 years, Nationality: 60-70% American, rest international, Gender Mix: 70% Male, Communication skills: Excellent, Body mass index: Varies
Any application tips for those who aim for such schools?
Start early. Find out how the application process works. Don’t over-focus on the GMAT. Spend time thinking about post-MBA goals. Research schools that will help you get there. Know what the school will and more importantly, will NOT do for you.
Is it worth attending a 2nd or 3rd rung bschool abroad or should one drop the idea altogether?
Bschool rankings have their own yardstick to judge schools. A candidate’s yardstick may be very different. So, whether a school is rung 2 or 3 is a very subjective viewpoint. There are many excellent schools in India that might not figure on the top rankings. I went to a local ( ‘unhyped’) engineering college that doesn’t feature in any domestic or global rankings. But it gave me a good education and I did pretty well for myself career wise.
Extending that logic, I’d say don’t shortlist or discard Bschools purely on the basis of rankings or location. In the book, I use the term ‘good’ Bschools, without really defining it in absolute terms. Go to schools that are ‘good’ from your perspective.
For instance, Harvard is a great school. But is it great for everyone? For me it wasn’t even on the radar, as my secret desire was to quit the corporate world before I was 40 and start something entrepreneurial of my own (mission accomplished!). The theoretical idea of pumping close to a crore into an MBA program would make my heart miss a few beats.
Any advice for those in ‘decent’ jobs eg today but who still have the itch for MBA? Should they hold on to their jobs or invest 2 years in an MBA (India or abroad).
A top MBA is designed to take those in ‘decent’ and ‘good’ jobs and get them ‘better’ jobs. So for the high-potential ones who’ve weighed the pros and cons, it can be a great tool. But I’d recommend not looking at the MBA as an end in itself. Think about what it’ll help you achieve.
Going back to your analogy, my recommendation would be to evaluate the reason for the itch, and think if going abroad to buy a Rs 50 lakh itch relief powder is the only solution. Or would a warm neem-water bath at home cure it…
Only you can decide...And Sameer's book, might help you do that.
Rashmi adds: I first met Sameer Kamat around 3 years ago, in my neighbourhood park. He was working with Siemens at the time, and also writing a book. I gave him some advice on how to get it published.
We’d meet off and on and I would get status updates.
Publisher mil gaya hai – But they want rewrites – Date of release decided – Date of release delayed. Finally, one day Sameer asked if he could come over to my house - to give me a signed copy.
I’m happy for Sameer. I think he’s a guy who set a goal and then persevered, to achieve it. He has clarity and focus, which is what we all need. Whether we all need an MBA - is another matter altogether :)
What I like is that Sameer charges the student upfront, for unbiased advice. Unlike most admission consultants who take a 'cut' from universities. I wish his business model and his book the very best.
And yes, I hope to bump into him one of these days - walking fast and purposefully - in the sector 17 park :)
