‘To be, or not to be, that is the question.’ Oh, Hamlet! Choosing between life and death – if only you would have been alive today, we would have told you that the concern you were faced with was so primitive in nature, so uncomplicated and honestly, rather rhetoric. Try asking 21st century students because the question now is ‘To do an M.B.A. in India or abroad or to do an M.S. or to get a job.’ Now that’s a real dilemma!
Work experience does not play as important a role in MS as it does in the case of admission to MBA programs. However, the importance of work experience varies as per different factors and scenarios. Just breaking it down in points for you:
So, suppose, you have an excellent application. You have completed your bachelor’s from a renowned university, have a high GPA, a fair extra-curricular record, and the required English language test scores. In such a case, you do not need to fret about not having work experience. You can easily get an admit if your LORs and SOPs are strong along with a solid academic record.
If your academic record is not strong, prior work experience definitely amplifies your application. But in that case, your work experience needs to be relevant to the field you are applying for. Irrelevant work experience, irrespective of the duration and position, will hold no significance with respect to your application.
As you can see, in the case of an MS admit, it all boils down to the strength of your academic profile and ‘relevancy’ of your work experience.
Yes, one can get a loan up to INR 40 lakhs for MBA in Australia from private banks.
You can also get a loan of upto INR 25 lakhs from an NBFC, however, loans from NBFCs are a much costlier affair. Thus, a private bank should be your first option.