Well, this solely depends where you are in your career and where do you go to school? Last evening, I was talking with a friend from Kellogg and I incidently asked two questions listed above.

Some companies are very strict about whom do they hire? Specially in i-banking space. recruitment to a great extent is by invitation only and forced applications generally do not go anywhere. Some corporates like PNC, etc follow the same rule. They typically do not hire non GC/PR. However, it is also true that if the candidate is really good and offers a great deal, the same companies have been known to hire people and get them H1b / GC. So this is on case by case basis.

The biggest issue is, when will the economy rebound? From what I have learnt till now, there is no assurance that 2008 or 2009 or 2010 will see rebound. Fact is, BIRC are the countries that are growing at a super fast pace. Other countries, whether it is US or countries in Western Europe are all in recession/slowdown. If this is the criteria for MBA, then it certainly makes sense to apply to schools like AIM, IIMs, etc. But, even then, there are no reservations that things will be same 2 years from now.

I guess in the end, you will have to decide why do you want to do MBA? If the reason is purely economic, you might be better off looking at market growth/opportunities after graduation etc. US schools with their high fees, and fleeting opportunities might not be a good fit. On the other hand, if you are looking at starting your own firm, building network with thousands of proven alums, etc.. you might want to consider US schools.

Disclaimer - This is just my opinion and may or maynot align with your opinions.

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I think although things are dull right now, one needs to also consider long term perspectives when they are thinking about MBA. How long will the recession last? no one really knows.

Like LDoit pointed out, if the aim is to network and make new contacts, start a firm or learn to start a firm or probably a career change say from IT to marketing , it may still be a viable option, given especially that dollar is cheaper so the costs of an international MBA would go down.

Lets discuss more, interesting topic Scifi, having second thoughts?

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If companies prefer green card holders more than H1, then recession can mean a lot worse. We need some return on investments.

Although we might be joining for enterpreneual reasons or networking, but we need to get a decent jobs to pay off the loans initially [cost is heavy]. I guess over a year we need to see how the job market is for non-green card holders and if there are sufficient then it would be a good idea.

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my take is that:

costwise it is cheap for you (for foreigners). I earn in $ so does not make much difference. I can loan at cheaper rate. I do not completely agree that there are more MBA holders joining the school. Infact with credit crunch, less companies sponsor MBAs. Employees when not sure about the job, may not be that much ready to invest in soaring MBA fees. (is there any stats where you can really check, how many applicants apply each year)

coming to the main point, it will be good to start at a low point. joining the school now, economy may be better by the time you really put something on the resume.

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Thanks guys for participating.

 LDoit, no need for disclaimers, your opinions are welcome. The part of the reason I started this debate was to get some opinions from the MBA community in the hopes that I would start thinking a bit positive.

sudgie, you are right I guess ...since in the recent time [I just read this] the period of recessions have been 2-3 years, its probably a good time to get an MBA ....by the end of 2 years market will be better. 

However, one thing still discourages me is the opinions that companies prefer green card holders/citizens more than H1 (international) candidates and it looks true as well.  

 More opinions are welcome! 

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Ok here are my opinion:

- MBA is a specialization which will help you in longer term, even if you have some problems in the shorter term

 - The problems with H1 is going to remain steady - it is always present. Economic problems do put a question on the placements for H1, but the exact nature of the whole impact needs to quantified before stating as a reason to going for MBA.

- In fact if you pass the better part of recession studying you will be least bothered by the consequences.

- When you talk about ROI, you have to understand how exactly you define ROI. If you want ROI within couple years of placement, woah thats difficult even when the economy is booming. Its like a 5-10 year plan ... slowly and steadily

- As Loi said, you CANNOT undermine  the power of networking. The ROI on networking cannot really be quantified can it? But then it is a very critical factor especially with globalization and everything. 

- Last but not the least, MBAs receive the training to have a seasoned thinking which makes the best out of the worst. If one has problems surviving after MBA, he probably didnt learn there that well.  

In the end, define ROI correctly and you will have much clearer view of what you want to do. make sure your definition of ROI is practical and applies to current and long term scenarios.

What say guys 

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Nicely put Guardian.  Great ideas guys.

In fact, most Career Counsellors in their articles (online of course), unanimously agree that the best way to invest during a recession is to sharpen your skill sets for the upcoming market. One of those ways is to get a graduation in your field of specialization. Be it a Ph.D or MBA, which really add a star to your qualifications.

In fact, one of my seniors (current student in Simon, Rochestor) agrees with the fact that the market he would graduate into may not be a fit one, but if he would have had a hint of this hovering recession, he would have rather done his MBA during it, than before it. 

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