Those benefits of living in a developed country are real. However, people also derive satisfaction from their relative position in society. So, someone might be happier being in the 90th percentile in India compared to the 30th percentile in Canada, even if the measurable living standard in Canada is higher.
Was’nt talking about a transfer of wealth. I was referring to how the establishment of industries that a country has a competitive advantage in could lift its population out of poverty and improve standards of living. This is how Singapore and Malaysia developed and third world nations like ours need to follow a similar path. Improved living standards take away the incentive to migrate. that was my argument.
As for the question on fulfillment, I think it really depends on the individual. Not everyone seeks fulfillment though their careers or their relative position in society. People have different goals they wish to accomplish. Migrating to a developed country may or may not help them do that. But it’s unfair to say that majority of immigrants tend to have unfulfilled lives. Most enjoy the better quality of life and better opportunities made available for their children.
I went to Rotman for my MBA and did learn how to network and build relationships during my MBA. A LOT of my Indian classmates including myself did land jobs at FO finance and MBB, and yes, most of them are CFAs/CAs etc. and we did try to accumulate credentials.
IMO, Indians do have to accumulate credentials is because we don’t come here with strong networks or with golden spoons in our mouths. A lot of my classmates at Rotman went to UCC and schools in the States. They already had strong networks. Also, their parents were lawyers, bankers, consultants etc. They’ve got their parents hooking them up with interviews and introducing them to VPs/MDs/Partners.
This is just plain wrong. As an Indian, you yourself should stop making blanket generalizations.
You can learn to build your network and you can learn to fit into the culture. It may take time, but it definitely can be done. I didn’t have a network of any kind in Toronto, but I made it to the FO. As did at least 4 other Indians in my cohort. Funnily enough all 4 of us Indians (from India) who made it to the FO Finance (Not including corporate finance where it’s a lot easier to break in) either had a CA or a CFA, and yes, it did give us a leg up on the competition.
If OP chooses to do her MBA from Rotman/Ivey, I believe that she can definitely transition to corporate finance/corporate strategy.
Now you’re making an assumption about the majority of the population agreeing with your views.
Thanks for the insights! Great to hear some success stories from fellow South Asians! After reading all these comments i’m more inclined to pursue an MBA as long as the investment is justifiable. Coming from a developing country investing 100k+ is a real make or break decision for me.
I do have a few questions i would like to ask you about your MBA experience if you don’t mind.
Given the 100k+ you probably would’ve folked out for a Rotman MBA do you think the ROI is justifiable? And is there a major difference in compensation between FO and Corp.fin/strategy roles? A lot of people have told me that investing 100k+ is not justifiable unless if you land a FO banking position. What’s your view on this?
And what is your opinion about McGill or even Sauder? In terms of recruitment stats I think they are more or less equal (This should be discounted as Mcgill and Sauder have smaller class sizes compared to Ivey or Rotman) but you might be able to give a better opinion as an insider?
I know its a whole load of questions and my apologies for that! Thanks so much for your time in advance!!
Thanks Cooler! Can i know what your story is like? Are you currently working in Canada and if so how did you manage to land a job? I’m assuming you did an MBA?
Yes, there is a major difference in compensation between FO and Corp.fin/strategy roles
It depends on what your alternatives are. If you’re comparing a T-15 US MBA I’d say your ROI would obviously be higher there just because Canadian salaries tend to be lower. Futhermore, it’s a lot harder breaking into FO finance in Canada v/s the states just because of the size of the market there.
Not everyone who wanted FO at Rotman made it to the FO. Many had to settle for Middle/Back office roles where you probably make ~CAD $85-95K all in.
I am biased, but I would personally only recommend Ivey and Rotman to International students. I am currently on the recruiting team at my bank and as Cooler mentioned, the resumes from these two schools do go in a different pile.
McGill and Sauder are good schools too, but they can’t really compete with access that Rotman has to Bay Street. If you’re networking from Rotman, Bay street is a 10 minute subway ride away. Can’t say the same for other schools.