Hey guys,
Would like to get some people's thoughts on my current situation. Also, hope some Canadians on this website can chime in here. I am taking my GMAT one more time next week after only getting a moderate score (670) recently, to put it mildly, and going to apply to US MBA programs afterwards. If I don't get a 700+ score, will still try M7 but I guess I'd probably end up in a top 15-30 school.
I mostly grew up in an East Asian nation, but also lived in the States for around 7 years when I was really little. I went to a college in my country and have job experiences mostly here, but also worked in Europe as well (not London though). I am in my early to mid-thirties (yes, very old to pursue an MBA) and I have 7 years of experience in corporate banking/credit/ratings, and I want to do LevFin after I complete my MBA program. My past/current employers are all BB banks and I am a 3rd year associate and will probably become a VP next year unless I get a crappy performance review this year. My base salary is around $85K and I got a $20K bonus for last year's performance. There seems to be a $10K bump in base until you become a VP, but I've heard that once you become a VP there's very little rise in base salary and bonus is usually bad. My base salary will level off at around $100~120K for the next 10 years, a situation which is not motivating at all from a monetary perspective. Also, I am still not married. So my thinking is, what do I have to lose by getting an MBA (low opportunity cost) and why not retool myself before its too late?
Besides, my primary reason for pursuing an MBA is to work and live in the U.S. and raise a family there. Even if I fail to get a coveted Wall Street job, I'd be very happy to take a F500 corporate job where I can earn an annual $100-200K salary.
The reason why I want to leave my country is because of the long-term economic/demographic challenges that will eventually weigh on individuals in the form of hefty taxes and lower pension benefits; very bad air pollution that I have to inhale almost every day unless the wind blows from a particular direction; geopolitical instability; and very bad educational system. I once thought about living in continental Europe, but I don't speak their language and I am not a big fan of open/unfettered immigration and liberalism. UK, after Brexit, seems to be in a perpetual decline. So, while gun shootings happening on a frequent basis is something that's really negative (I respect 2nd amendment rights though), I still think the U.S. is the best place to live in the world with the brightest future. Besides, it's the place once I lived as a permanent resident and I have some fond memories of living there.
But I've heard some horror stories about people not being able to secure H1B visas after receiving an offer because they fail to get selected on lotteries. Then I stumbled upon a top Canadian school, and on their website, they say that graduates can have a work visa for 3 years even without being able to secure a job. For me this seems to be a very safe option to me, and I initially thought that Canada is perhaps a nice country to live in. But after doing some more research, I've learned that the financial sector in Canada is overall small, and therefore there wouldn't be a lot of positions for internationals. Also, the salary seems to be not good (their top bank's VP base salaries are around U100~150K, which is not that impressive) and given their quasi-socialist system, tax rates are high and net disposable income would not be good. Also, while U.S. has its own problems around immigration, Canada seems to be at a different level. I couldn't believe when I saw majority of the population in Toronto being a foreign descent and this will only get amplified. And then xenophobia will get worse and political/social stability will be challenged and yada yada yada.
My question is, how do people feel living in Canada? Would be getting a job as an international doable after completing a Canadian MBA? Should I just stick to U.S. MBAs?
Lastly, because of my age and work experience, I am thinking about only applying to one-year programs (Kellogg, Goizueta, Mendoza). Would it be possible to secure a job as an international without an internship?
Sorry for the long post and I hope everyone has a nice week.