Hey Mayank, your videos are super informative and helpful! Would love it if you could do a similar comparison with students from the INSEAD and ESCP MiMs as well
Hello sir. I was calculating something and I am little confused to believe what I calculated. So to study in Europe college where fees could be 40000€ for two years. Plus living expenses would be 900€(avg) x12 x 2= 22000€ Total = 62000€. With no banks providing loans without collateral, one would go to NBFC, which would provide loan at 14-15 %. Now the amount would be 62000€ x 14% = 9000€ per year. So in 3-4 years the loan amount would get to 90000€ or even 1lakh €. Starting salaries offered in Europe ( going by least) is 2500€ per month = 30000€ per year . But 30% tax rates would reduce to 20000€ per year. But also the still living expenses would amount to 14000€ per year. Leaving the net amount saved is 5-6000€per year. How would on this amount would a student could pay back loan of 90000€ in his/her lifetime??
Hey, great question. In France, after studying at a top school (HEC/ESSEC/ESCP for eg.) you can kind of expect not €30k but more like €40k at the minimum, which after-tax boils down to around €2400 a month in-hand. With your living expenses being half of that (by living conservatively), you can save somewhere around €12-13k per year. Keep in mind €40k is for marketing/digital positions and in France. Finance and consulting pay more. It's hard getting those jobs within France but people get them in Germany, the UK, Netherlands, Belgium, Luxembourg, Dubai, etc. - again, the reputation of the school plays a big role in getting these high-paying jobs. They can pay maybe €50-70k/year and up to €80-90k in some cases (consulting in Dubai for eg). Paying back your loan is much easier with that. So my recommendation is that if you're coming here, especially on a loan, make sure you study at a top school, to increase your chances of getting a well-paying job outside France. Otherwise, if you just want to work in France, be prepared to earn less + face the challenge of finding a job here. Yes, things aren't easy - but they are not impossible. Your decision to come study here shouldn't be based _entirely_ on a financial ROI-based consideration, but I hope that my explanation cleared things up a bit. There are however other factors, such as personal goals, personal situation, and expectations from your career and life that you should consider as well. :)
Even food there in France is Damn expensive...a single meal is Rs.1500-2000 , so just meals would be 4-5 k a day on campus canteen. Khud koi ni bnata Roz roz. So food+rent = 2.5-3 lac pm. So 60 lac fees+ 40 lac expenses plus extra academic expenses. So a loan of 1-1.5 crore INR is what you should expect.Maybe max 10Lac u may get scholarship. If you're from a middle class family, don't even think of doing adventure of debt. Jobs are around 30-40k euro and Higher ones are still reserved for MBA only. Mim is the younger 21-22 yr old crowd. No one's giving them managerial or Consult positions. GO for higher MBA for those dream roles.
Can you make a video on your journey, how can potential students from other prestigious colleges can also start their blog/ YT channel or content creation via other platforms and give some tips on that maybe?
Thanks man! We did a zoom call which was recorded, and we used our cameras to record at the same time + external microphones. Arif gave me his footage, I synced everything together using sync tools in FCPX and voila!
Hey mayank I am a fresher and bcom (hons)Graduate trying to build my profile after realising that I want to pursue an mim in marketing field... Having no work ex but would try to get a good GMAT score and I m not sure about what industry I want to get in... So I want to know what are the chances?
Go for HEC is like Harvard of France. Go to HEC work for a few years and then you can leverage your experience to get great roles in India. If India is the country you love only then go for ISB.
@@arijitkar9434 This comment aged poorly. ISB MBA now costs 50 lakh (more costly than both HEC and Essec) and is currently having piss poor placements, while both HEC and ESSEC are doing great. Also, MIM is the flagship program for both HEC and Essec. Their MBA programs are nowhere near as good as their MIM
Totally changed how I viewed ESSEC. Again great content man!
This is so useful guys thanks so much! I have my ESSEC and HEC interviews this week and this helped me a lot.
Hey Mayank, your videos are super informative and helpful! Would love it if you could do a similar comparison with students from the INSEAD and ESCP MiMs as well
Can't wait for this mayank!
- Arjun Kumar
I like how mayank always gives us the specific parts in the video through the timeline (the minutes) I dont know what to call it haha
This video has so much value, especially for an undergrad looking into these programs. Thank you so much!
Thank you for all the great stuff you provide us!Keep up the good work!
Hello sir.
I was calculating something and I am little confused to believe what I calculated.
So to study in Europe college where fees could be 40000€ for two years. Plus living expenses would be 900€(avg) x12 x 2= 22000€
Total = 62000€.
With no banks providing loans without collateral, one would go to NBFC, which would provide loan at 14-15 %.
Now the amount would be 62000€ x 14% = 9000€ per year.
So in 3-4 years the loan amount would get to 90000€ or even 1lakh €.
Starting salaries offered in Europe ( going by least) is 2500€ per month = 30000€ per year . But 30% tax rates would reduce to 20000€ per year. But also the still living expenses would amount to 14000€ per year. Leaving the net amount saved is 5-6000€per year.
How would on this amount would a student could pay back loan of 90000€ in his/her lifetime??
Interesting question
Hey, great question.
In France, after studying at a top school (HEC/ESSEC/ESCP for eg.) you can kind of expect not €30k but more like €40k at the minimum, which after-tax boils down to around €2400 a month in-hand. With your living expenses being half of that (by living conservatively), you can save somewhere around €12-13k per year.
Keep in mind €40k is for marketing/digital positions and in France. Finance and consulting pay more. It's hard getting those jobs within France but people get them in Germany, the UK, Netherlands, Belgium, Luxembourg, Dubai, etc. - again, the reputation of the school plays a big role in getting these high-paying jobs. They can pay maybe €50-70k/year and up to €80-90k in some cases (consulting in Dubai for eg). Paying back your loan is much easier with that.
So my recommendation is that if you're coming here, especially on a loan, make sure you study at a top school, to increase your chances of getting a well-paying job outside France. Otherwise, if you just want to work in France, be prepared to earn less + face the challenge of finding a job here.
Yes, things aren't easy - but they are not impossible. Your decision to come study here shouldn't be based _entirely_ on a financial ROI-based consideration, but I hope that my explanation cleared things up a bit. There are however other factors, such as personal goals, personal situation, and expectations from your career and life that you should consider as well. :)
@@MayankSehgal I am very thankful to you. You are a great person that you replied...🙏🥺
@@MayankSehgal Could you please explain the process of working outside France ?
Even food there in France is Damn expensive...a single meal is Rs.1500-2000 , so just meals would be 4-5 k a day on campus canteen. Khud koi ni bnata Roz roz.
So food+rent = 2.5-3 lac pm.
So 60 lac fees+ 40 lac expenses plus extra academic expenses.
So a loan of 1-1.5 crore INR is what you should expect.Maybe max 10Lac u may get scholarship.
If you're from a middle class family, don't even think of doing adventure of debt. Jobs are around 30-40k euro and Higher ones are still reserved for MBA only. Mim is the younger 21-22 yr old crowd. No one's giving them managerial or Consult positions. GO for higher MBA for those dream roles.
Amazing video guys! So informative
Thanks man!!
Thank you so much Siddharth :D
Can you make a video on your journey, how can potential students from other prestigious colleges can also start their blog/ YT channel or content creation via other platforms and give some tips on that maybe?
That’s a fantastic idea. Noted!
Very informative video! Thanks man.
Thank you Dhaval
Love this!
Brilliant video!!
Thanks man!
Kindly make a video on INSEAD MiM as it's new and not much is known about it. Getting a student from there would be great.
I find essec better but hec is better brand. essec is better for enjoying.
What are the job prospects for management students in France and in the EU in general?
I have heard apprenticeship is only for French speaking folks, is it true?
Hey Mayank , how did you record this video ? Did you use OBS ? The video looks stunning
Thanks man!
We did a zoom call which was recorded, and we used our cameras to record at the same time + external microphones. Arif gave me his footage, I synced everything together using sync tools in FCPX and voila!
@@MayankSehgal Thank you for sharing this !
Hi I am from Sri Lanka. It's possible to apply these days for Paris.
apprenticeship is applicable for student above 30?
Hey mayank I am a fresher and bcom (hons)Graduate trying to build my profile after realising that I want to pursue an mim in marketing field... Having no work ex but would try to get a good GMAT score and I m not sure about what industry I want to get in... So I want to know what are the chances?
Bro I've done my MBA from a tier 3 university I have 2 years of workX can I do mim or any other MSc in management program. Please reply
Yes u can apply
ISB or HEC or ESEEC
Go for HEC is like Harvard of France. Go to HEC work for a few years and then you can leverage your experience to get great roles in India. If India is the country you love only then go for ISB.
HEC MBA> ISB MBA> Eseec MBA
ISB MBA > HEC MIM > Eseec MIM
@@arijitkar9434 LBS mba is the best if you can finance it. However, it is rather pricey.
@@arijitkar9434 This comment aged poorly. ISB MBA now costs 50 lakh (more costly than both HEC and Essec) and is currently having piss poor placements, while both HEC and ESSEC are doing great. Also, MIM is the flagship program for both HEC and Essec. Their MBA programs are nowhere near as good as their MIM