This is it. No turning back now. I have officially accepted the INSEAD Admit by paying the initial deposit of Euro 5000.
I got a pretty decent exchange rate. Almost 4% better than the rate I benchmarked against. The next payment of Euro 30000 is due in November and I am yet to figure out how to pay that. Next week is important. I will be consolidating all my savings into one account and hopefully it should be enough to pay the entire tuition fee. Scholarship results will be out by end of September so that could help too.
My savings are in 2 different currencies and with some stroke of luck, both are doing really good against Euro. Dollar deposit is up 9% while Chinese RMB deposit is up another 9% since Feb 08. I am hoping to capitalise on this unexpected gain and convert all savings to Euro.
With the first deposit, the process of being bankrupt has started. All my savings will be gone within next 6 months. I will have to borrow some money to survive the MBA year and by the time I graduate, I will be in sizeable debt.
Well...INSEAD did say "One year to challenge your thinking, change your outlook and choose your future".
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2 comments:
Hi,
How are you? Sorry if this email of mine caught you unaware. I came to know about your blog about INSEAD admission.
I am Shail, from India, currently working in UK as an IT consultant. I saw your blog about INSEAD admit with a GMAT score of 660. I want to ask you if 660 can still secure a chance in INSEAD for a person with my background?
A brief overview of my profile
Age - 29
Total experience - 7 years
Education - BE, MS
Industry - IT
Achievements :
1) Launched a startup company in Bangalore - PeerMe http://www.google.co.uk/search?q=shailendra+peerme
2) Headed the startup as Director of Bangalore centre at age of 26
3) Launched another startup Zenoova for consulting services
4) Worked as Senior Manager for another startup in Bangalore
5) Currently in UK to gain some international experience
6) Very good in academics, have been gold medalist and scholarship recipient.
7) Launched another family business where I am partly involved.
My Goal :-
1) Complete MBA from INSEAD
2) To be an entrepreneur after my MBA
Reason for doing MBA
* As you can see I have been involved in launching companies, but have not gained much success. My industry background has not given me enough business exposure and that is what I want to gain from INSEAD (of course in a short span of time) for a successful startup.
I somehow took my GMAT but could not do very well due to my lack of full preparation. However if I plan to write it again it will take me good 2-3 months again since I had a break from the last attempt.
I know you must be busy and surprised to see this email. But if you can help me in figuring out if I should re-write my GMAT or just apply with exsiting 660 score for 2009 MBA admissions, it will be great !
Once again thanks and your time and advice are much appreciated.
Regards,
Shail
Hi Shail,
You definitely have an interesting profile. But interesting and strong are two different words.
When you apply with a low GMAT, your professional achievements should be outstanding. And it is for you to self-assess your application strengths.
GMAT is definitely only one aspect of the application. A low gmat + great application = Great gmat + mediocre application.
You have mentioned about startups but I really dont know how much you delivered there. Having a senior position is not as important as being someone who directly impacted the bottom line of a business.
Drop me an email if you want to discuss more.
All the best.
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