All set for next year !!

I am still alive. I know its been almost a month since I blogged but I was busy with a lot of things. Plus, I wanted to post only when everything was in place for this MBA year. And fortunately things have fallen in place over the past 4 weeks. I have also formally resigned from work and the next two weeks will be all about handing over. Then am off to a much awaited month long holiday before moving to Singapore on 1st of Jan.

I have confirmed a condo at Heritage View. Its a 3 bedroom unit which we got for SGD 4600, which seems to a very good deal, and I will be sharing it with a European tech consultant and an Asian banker. They both seem to be really fun people and am sure we will have a great time next year. We need to, especially because the world around us is falling apart and recruitment at INSEAD is totally screwed up. My advice to guys coming in for future promotions is look for a condo first and then flat mates. If you can get your hands on a good deal then people will always be willing to share it with you.

I started with one of the books from the pre-reading list and it was really a silly book. If you have read Freakonomist or Undercover Economist then you can definitely skip Principles of Microeconomics. I couldn't get my hands on the other two books which are all about hardcore financial models but am sure they are the ones which do need to be covered beforehand. But one thing worried me. You see my view is when you study something, it helps you develop new ways of looking at a situation. But in the book I read, at the end of every chapter there were silly questions like "Name the 7 models.." and honestly speaking I think that is a load of bollocks. I think education should be about reading new concepts and then applying them to a situation to show how much you have learned instead of just writing down the name of concepts you came across. I honestly hope this is not the case at INSEAD.

My finances are sorted out. Got a scholarship from INSEAD and also secured a small student loan from Prodigy Finance. Initially I was not keen for student loans but given the current economic situation, I was not too sure if I should dry up my financial resources. Don't want to be unemployed and broke. This scholarship and student loan will allow me to have a comfortable MBA year and my savings will ensure I have something to fall back on in case no recruiter shows me love next year.

There needs to be a special mention here for Prodigy Finance. What comes to your mind when you think of a Loan? For me it is, first a well dressed rep talking in some non human language about all sorts of conditions and stuff, then a truck load of papers which you need to submit for your case and finally another truck load of papers which you need to read and sign. With Prodigy, you can cut it all out. Its a very simple process and they have structured it really well.

Prodigy was started by a couple of INSEAD grads. Their view was that INSEAD looks for truly international people and often most of such people find it difficult to raise finances in their home country due to their global career or quite a lot of applicants come from emerging markets where the cost of MBA converts into a few millions. They aim to help such candidates by raising funds from INSEAD alumni, recruiters etc. and offer student loan to only those people who have already been accepted to INSEAD. Plus having themselves been through the process, they are able to look at a candidate's profile and evaluate if it will be worth anything in the market post MBA. Of course you have to do the traditional background/ credit check but even that has been simplified to a large extent. In my case for example, I have never used a credit product and a credit check on me would result in "no trace". The only catch is that they cannot guarantee a loan to every applicant as the funds they are able to raise is limited. But nonetheless they are doing an excellent job and hats off to them !!

At work, I have been officially relieved of my duties although I will continue to work for the next 2 weeks. This job has been a life changing experience for me. I came in as a clueless boy and am leaving as an ambitious, capable man. This job really broadened my perspective and gave me the balls to dream big. And I am leaving not because I am unhappy with the job but because I have set higher goals for myself which cannot be achieved from this platform.

So finally, I really am moving on to INSEAD.

By the way if you are thinking about what the recruitment scene at INSEAD is at the moment, then let me be the one to tell you this - its all fucked up at the moment. Jobs are hard to come by and even though firms are coming in, the offers aren't. I will be able to get some solid numbers on recruitment only when am at the campus but don't be surprised is recruitment at time of graduation is around 50%.