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406 - 123 Yonge Street

Toronto, Ontario M1A 2B3

January 15, 2017

Dr. Susan Cohen

Canada Education Support Inc.

456 University Avenue

Toronto, Ontario M1C 2D4

Dear Dr. Cohen:

Thank you for giving me the opportunity to make a presentation on to your Board of Directors on the current perspective on the benefits and costs of pursuing an MBA, with specific focus on international students from Vietnam who want to study in North America. I have always had a strong interest on this issue, as I believe that I could bring some useful perspectives on your target market in Vietnam.

(Write some more to show that you have entrepreneurial thinking that can add value/profits to the company).

I am submitting a copy of my complete report for your review before my presentation. Any comments or suggestions would be much appreciated. I look forward to the presentation next week.

Sincerely,

Jane Smith

Graduate Student

Global Business Management

Centennial College

Tel: (416) 123-4567

E-mail: [email protected]

A Cost-Benefit Analysis of Doing an MBA for International Students

from Vietnam

Jane Smith Graduate Student, Centennial College

prepared for

Canada Education Support Inc.

January 15, 2017

A Cost-Benefit Analysis of Doing an MBA for International Students

from Vietnam

Jane Smith Graduate Student, Centennial College

Abstract: Obtaining an MBA overseas has been a lifetime dream of many students in developing countries, with the appeal often coming from the expectation of high income after graduation. However, due to the changes in the labor market in North America resulted from the financial meltdown in 2009, the likelihood of obtaining a managerial position upon graduation is becoming much smaller than before (Jain and Stopford 2011), while the cost of an MBA program is steadily increasing (Allen, 2011). This paper presents the costs and benefits of pursuing an MBA in North America specifically for international students from Vietnam. It suggests that unless the prospective students already secure certain managerial positions either back home or in the new environment in North America, the costs of an MBA might outweigh the benefits. The paper also suggests alternative educational plans for students who want to obtain foreign education.

Keywords: MBA, business education, international students, employment, Vietnam

Introduction

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Background

According to Allen (2011), the current recession in the United States made it more difficult to obtain an MBA, while the number of MBA programs is increasing. The author also noted that to get a managerial job, it is more important to have “entrepreneurial thinking” than skills sets and education.

Source: The Economist(2005).

1. The Current Labor Market for MBA Graduates in North America: Not promising

Having an MBA was often seen as a ticket to having high-paying managerial jobs. However, since the collapse of the housing market in the United States in 2008 and the subsequent global financial crisis, unemployment has become more serious in the overall economy in North America (provide source). Potential jobs for MBA graduates has also diminished significantly both for local and international students (provide source).

2. A Cost-Benefit Analysis of Pursuing an MBA for International Students from Vietnam: Why an MBA Education Might Not Pay for Itself

With a per capita income of about $1,200, Vietnam is one of the fastest growing economies in Asia. International students from Vietnam have to consider the cost of pursuing an MBA (provide source and data, such as Harvard $160,000, U of T $90,000), more so than students from other countries with higher income. In addition, the Vietnamese in North America do not have the same professional networking system as other ethnic groups (Saloner, 2011) that can help them get jobs.

3)Alternative Educational Plans that Make Sense for International Students

Since the cost of pursuing an MBA is relatively higher than the benefits, international students from Vietnam can consider other studying options that are also good for job prospects. It is worth considering the fact that employers in international business do not just look at education in their hiring decisions. Stephen Green, Group CEO of HSBC, said:“We don’t look so much at what and where people have studied but rather at their drive, initiative, cultural sensitivity, and readiness to see world as their oyster.” (Green, Hassan, Immelt, Marks, and Meiland, 2003, p. 40). Therefore, students can choose business programs that are less expensive (Brain, 2016) or similar Master’s programs.

Future Research

Conclusion

Bibliography

Allen, L. (2011). MBA is Valuable Job-hunt Asset, but Down Economy Makes Getting One Harder. Central Penn Business Journal, 10/21/2011, Vol. 27 Issue 43, pp. 17-19.

Brain without Borders (2016). The Economist. Retrieved on October 7, 2017, from https://www.economist.com/news/international/21689540-australia-and-canada-seek-attract-more-foreign-students-america-and-britain-could.

Green, S., Hassan, F., Immelt, J., Marks, M., and Meiland, D. (2003). In Search of Global Leaders. Harvard Business Review, August 2003.

International Education (2005). The Economist. Retrieved on October 7, 2017, from www.economist.com/node/4405649.

Jain, S. and Stopford, J. (2011). Revamping MBA Programs for Global Competitiveness. Business Horizons. 54, 345—353.

Saloner, G. (2010). Building the Next-Generation Business Leader. McKinsey Quarterly. April 2010.