So here are the pros and cons of INSEAD and Harvard MBA
Pros of INSEAD MBA
1) At Harvard a person shells out 227200 USD more than what he would at INSEAD.
2) An INSEAD MBA grad gains additional one year experience in comparison to Harvard MBA grad. Typically from both the schools company hires for the same position.
3) Much diverse and bigger network at INSEAD than at Harvard.
4) Global placements at INSEAD compared to Harvard. Person has much more flexibility in terms of the place he wants to work at.
Cons of INSEAD MBA
1) Much more hectic schedule at INSEAD as compared to Harvard.
2) Career switch difficult at INSEAD, when the economy is not doing well.
Statistics above shows average costs and can vary depending to job and function. Specially the opportunity cost will vary widely between people working in different countries.
4 comments:
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There is one issue with your analysis. you can not have the opportunity cost and the salary mentioned together, unfortunately.
There are more issues than simply including both the opportunity cost and the salary. Lets start with the inclusion of the opportunity cost in the first place. If you would like to include it, you must exclude from it the living expenses you would incur while obtaining that salary. Likewise, the second year's salary from INSEAD can be included, but only the amount that is ABOVE the opportunity cost. As it is now, the MBA is shown to be earning 200,000, and 100% of the MBA's first year salary will go to paying for the degree. I highly doubt that is realistic. Leaving all other numbers constant and factoring in a 70,000 cost of living, Harvard appears to be less than twice as expensive as INSEAD, but again, that is leaving all other numbers constant, and quite frankly I find the estimated pre-MBA salary too high. (Any error in overestimating it is doubled when calculating the opportunity cost for Harvard since it is a two year program.) An additional concern I have with these numbers is whether or not the starting salaries will actually be comparable, and more importantly, if the salaries will remain comparable for the life of the MBA's career. If Harvard MBAs ultimately achieve higher salaries than INSEAD MBAs, the lifetime increases in salary should be factored into the equation as the extra year of work was for INSEAD. I could go on, but I won't.
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