Sorry guys, I know its been ages since I blogged. I was traveling in December and landed at INSEAD Sgp on 3rd Jan and its been crazy ever since. But I do intend to improve my blog rate and give you the real scoop about life at INSEAD.
Right...so where should I start from???
Intense - You all must have heard intense and INSEAD in the same sentence a million times already. I personally thought it was an exaggeration but let me be honest here, this place is fuckin intense. 24 hrs is just not enough. It is a fact that you will be sleep deprived, knee deep in course backlog and still find a reason to party till the wee hours. And somewhere in the middle of all that, you also need to figure out your career. This place is not for the weak hearted. You need to be able to prioritise, perform under pressure and be ready to sleep 6+ hours only once a week.
But, this is an awesome school. I cant tell you how glad I am for having chosen this school.
Course - So far the course content has really impressed me. P1 is mostly about finance aka. corporate finance, accounting, prices etc. The profs are super cool (on this note of cool...I think it reflects in everything INSEAD. Profs, food court, admin staff etc.). I dont have a background in finance so am kind of struggling but the trick is to make sure you do the pre-readings and you should be fine.
Party Scene - In the first ten days I was sober only one evening. From the welcome cocktail to the Bain party to your section parties. Its hard not to get trashed or being in the mix without being a party animal. Its an awesome break. I guess everyone realises this and makes sure to make the most out of it.
Jobs - This is the tricky one. And am sure quite a few of you want to know whats the reality of the day. Well, its fucked. Plain and simple. From the class of December 2008 only about 65% got jobs and of that about 50% went back to their pre-MBA employers. There still are a couple of IBs scouting for talent but the volumes are definitely low. Consulting is steady (oh...and by the way this really is a fuckin Consultant's school. Every other person is McBain Consulting and out here on a study leave. They are sponsored too and hence they account for most of the party animals) and industry is also ok. 2009 does not look any better at this point in time and my guess is that jobs will be hard to come by. By March I should have better numbers as internship recruitment will be on full swing.
Alright fellas....I need to sleep tonight. T'row evening we have another party and I plan to get absolutely loooooosee !!
To life...!
Friday, January 16, 2009
Wednesday, November 5, 2008
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%.
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%.
Sunday, October 12, 2008
Singapore Accommodation
Having resigned last Friday, now I am working on the relocation to Singapore. And first stop is accommodation.
There are two options which are extremely popular with INSEAD participants. Dover Parkview & Heritage View are within walking distance of INSEAD, are a bit posh and because of ample demand from INSEAD are definitely overpriced. I spoke to one real estate agent over the weekend and he mentioned that one other reason for them being pricey is because quite a few landlords have had bad experiences with INSEAD students and hence they want a premium for taking the risk.
Anyways, at these two places you are looking at about SGD 4500-5000 for 3 bedroom apartments. Other option could be Normanton Park which is a 5 minute bus ride from INSEAD. It is significantly cheaper and lacks the Club Med feel which Heritag & Dover have to offer. Normanton Park goes for about SGD 3500-4000 for 3 bedroom units. Third option could be Clementi, which is one subway/ MRT stop away from INSEAD (which is by Dover stop). At Clementi, decent condos go for about SGD 3000-3500..
The cheapest option is HDB units which is available all across Singapore. These are low cost units developed by the Singapore government and go for about SGD 2000-2500 for 3 bedroom unit.
As for me, I am preparing a list of all available options and then will look for fellow INSEADers to share the condo with. I am open to Dover & Heritage, second option being Normanton. Given the supply of condos around INSEAD, its not too difficult to get your hands on one. With recent economic downturn, the rentals do seem to be coming down but not so much so at Dover or Heritage.
On a different note, my wife will not be able to join me during this MBA year as she really wants to use this year to build up her professional experiences. Before taking up the assignment in China, I had little or no knowledge about what professional opportunities it could offer to my wife. Unfortunately, the opportunities were hard to come by and even the ones that came through were not as exciting. Both of us are now done with our first phase of professional life and we both want to use this MBA year to build up our future. And our post MBA goal is to see ourselves moving to an exciting place where both can pursue professional growth. I will definitely miss her a lot next year. She has been with me through thick and thin. I almost got her to kill me because of my constant nagging during the INSEAD application process. Unfortunately, next year I wont have her by my side telling me that I am an absolute champ irrespective of all the failures that I have in my kitty.
H....will miss you tons !
There are two options which are extremely popular with INSEAD participants. Dover Parkview & Heritage View are within walking distance of INSEAD, are a bit posh and because of ample demand from INSEAD are definitely overpriced. I spoke to one real estate agent over the weekend and he mentioned that one other reason for them being pricey is because quite a few landlords have had bad experiences with INSEAD students and hence they want a premium for taking the risk.
Anyways, at these two places you are looking at about SGD 4500-5000 for 3 bedroom apartments. Other option could be Normanton Park which is a 5 minute bus ride from INSEAD. It is significantly cheaper and lacks the Club Med feel which Heritag & Dover have to offer. Normanton Park goes for about SGD 3500-4000 for 3 bedroom units. Third option could be Clementi, which is one subway/ MRT stop away from INSEAD (which is by Dover stop). At Clementi, decent condos go for about SGD 3000-3500..
The cheapest option is HDB units which is available all across Singapore. These are low cost units developed by the Singapore government and go for about SGD 2000-2500 for 3 bedroom unit.
As for me, I am preparing a list of all available options and then will look for fellow INSEADers to share the condo with. I am open to Dover & Heritage, second option being Normanton. Given the supply of condos around INSEAD, its not too difficult to get your hands on one. With recent economic downturn, the rentals do seem to be coming down but not so much so at Dover or Heritage.
On a different note, my wife will not be able to join me during this MBA year as she really wants to use this year to build up her professional experiences. Before taking up the assignment in China, I had little or no knowledge about what professional opportunities it could offer to my wife. Unfortunately, the opportunities were hard to come by and even the ones that came through were not as exciting. Both of us are now done with our first phase of professional life and we both want to use this MBA year to build up our future. And our post MBA goal is to see ourselves moving to an exciting place where both can pursue professional growth. I will definitely miss her a lot next year. She has been with me through thick and thin. I almost got her to kill me because of my constant nagging during the INSEAD application process. Unfortunately, next year I wont have her by my side telling me that I am an absolute champ irrespective of all the failures that I have in my kitty.
H....will miss you tons !
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