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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,
27. Jane Smith
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
by
Jane Smith
prepared for
Canada Education Support Inc.
28. 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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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).
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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
31. 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.
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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.