There were a range of circumstances and beliefs that built up within me over ~3 years between 2012-2014 that culminated in my decision to embark on the MBA journey:

• Inspired by MBA alumni and understanding the MBA proposition in depth

The term ‘MBA’ wasn't even on my radar until 2010. Prior to that I worked in investment banking in London and Asia and somehow I was never exposed to alumni or information about business schools. The first time I even heard of the term ‘MBA’ was thanks to my senior colleagues in 2010. I started working in a small private equity team in Sao Paulo, Brazil with a truly wonderful culture - collegiate, supportive, fun, and close-knit. In our small office of just 9 people, we really got to know each other well during my 4 years there, including socially. My two bosses were both top MBA alumni (Wharton and Stanford). My respect and appreciation for them both personally and professionally kept growing over time. Whether sharing their MBA stories over a beer, or via their conduct and leadership at work, I began to understand the MBA offering in depth. My desire grew to become part of what I perceived as a group of very high calibre and cool people.

I did not rush the MBA decision at all - it was a slow burn process to make sure I was convinced. For such a high cost investment, I naturally applied my investment analyst hat to due diligence the MBA proposition. My research to understand the MBA experience and its life implications was thorough. I spoke to probably 40+ alumni from different business schools by the time I submitted my MBA applications.

• Feeling of professional stagnation

I was in my 3rd year working at a private equity investment firm in Sao Paulo, Brazil when I started to feel as if I'm not developing enough professionally. Without haste and over a period of around one year, I explored both within the firm and in the broader PE industry in Brazil for alternative roles. Nothing clicked, and on hindsight it's clear I did not really pursue alternatives with full conviction. It felt like I was playing at a level far from my full potential.

• Doubts around which country to live in / proximity to my family

As much as I loved Brazil and its people, doubts were creeping in around the merits of remaining 12hrs flight away from family and closest friends back home in Europe. I was 28-29 years old, starting to ponder over a future where I settle down in Brazil eventually with family and kids. Is that what I consciously choose, or am I just falling into it because I happen to be drifting with that flow? Also, I had crossed the psychological threshold of spending more of my professional career in Brazil (5 years) than everywhere else in the world combined. Is this it, was I to become a Brazil / LatAm specialist? Am I becoming entrenched in the region so much so that I wouldn't be able to ‘transfer out’ should I need or want to? Why would I want to? These bigger life questions were starting to surface and I had no answers. What seemed certain to me is that with an MBA, if I do decide to go back to Europe after, it would be much easer

• Seeing the MBA as both an insurance policy and an excellent platform for change

I knew what I didn't want (where I currently was in my career), but it was much less clear what I did want. An MBA seemed like a safe bet that would open potentially many new doors that I couldn't even see then. I believed it would be a powerful platform and mobiliser for whatever change (geography, industry, role) I'd choose to pursue.

Whether I'd opt to come back to Brazil or move back home to Europe, being part of a top MBA alumni network seemed like a great insurance policy against downturns and adverse life scenarios.

• Recognition that I could learn a lot in an MBA

I concluded rapidly during my due diligence that academics was only a small part of the MBA offering, and that it's the broader experience that would offer a lot of value and expansion of perspective. Nevertheless, I was working in private equity (considered the most coveted role to have within the finance industry) with exceptional bosses to learn from. This is the dream job of many MBA graduate - so why would I leave? I also knew I couldn't take returning post-MBA to the private equity industry for granted. It took me substantial time - and becoming more humble through speaking to many MBA alumni - to bring myself to believe that I could learn and grow more in an MBA program than where I already was.

The average MBA student age at the top 3 USA business schools was ~3 years less than at INSEAD. That may not sound like much, but it means ~100% less years professional experience (at INSEAD the average # of working years was between 5 and 6). I already felt this makes a huge difference ex-ante, and this prediction proved acutely on point - there was an increased maturity and experience fellow INSEAD students brought to my whole MBA experience.

I saw London Business School as the only other non-USA competitor. Their finance focus both in student aspirations, proximity and therefore influence of London as financial hub, the big city vibe were not things I was looking for. I was looking for enrichment from a broader perspective. In addition, it was absolutely clear to me from my undergraduate experience that deeper friendships form when you don't have big city distractions around. INSEAD's campus locations and focus on diversity as its #1 value catered more this.

Of the few things that were clear for me at the time was that I had zero desire to live in the USA. This personal preference meant automatic deprioritisation of US business schools - they loosely claim they have a global footprint, but they're actually very US-centric. I think at the time ~60% of top 3 USA business schools alumni reside in the USA. That's very high for someone like me who is less interested in that region.

I was attracted to the shorter more intense one-year MBA program vs. longer duration at other b-schools. I think I would have been open to consider a longer program at an earlier stage in my life. Equally, at a later stage in my life, I could also see the merit of a longer duration program that is part-time alongside working. I was very much in an “all-in for the full experience + clean break from previous life chapter” kinda vibe :-)

And finally… what I now (I write this 9 years after graduating) consider to be by far the most important factor: fellow students. From the 40+ conversations I had with MBA alumni from the top 4 global b-schools prior to applying, it was only with INSEAD alumni that I consistently felt like “wow, they're so cool, humble, approachable and successful, I'd love to hang out with them again for chat over drinks". Cannot say the same for conversations I had with any other business school.

I believe for everyone there is a business school that fits with your aspirations and personality the most. Just need to put in the research for you to find which one that is.

Amazing, unforgettable, unrepeatable, priceless. I am not exaggerating. I went in there with accurate expectations thanks to the research I did. That it wouldn't be perfect. I won't like absolutely everyone and not everyone will like me. Not every teacher will be mind-blowing. And that the careers service won't serve me a high-paying job offer on a silver plate. But it will be all worth it.

And it was. Super intense and life enriching. An adult playground full of ambitious, driven, diverse, intelligent go-getter people from around the world. Amazing and highly bonding experiences were shared both within but mostly outside of the classroom. Lifelong friendships were forged, romantic partnerships blossomed, future colleagues and co-founders were found. Assumptions were challenged, cultural differences overcome, the navigation of trade-offs were better understood and embodied.

Such a positive experience was assured by my open-to-everything attitude and a vested interest in making it successful. I was not sponsored by a company and the program cost was very large relative to my wealth - so I was vested in making this work for me, in my way, to the max.

• Challenging:

Learning to say “no” and dealing with FOMO. It is said that during the INSEAD MBA between the 3S-s of study, sleep, socialise, you have to compromise on 1. Some people tried not to give up on anything! It's impossible not to as there are so many attractive options available all the time. Go for a fireside chat with a business leader, do that wkend startup accelerator program, hop on a flight to Bali from Singy with 40 classmates-now-friends, tag along for a company site visit, prepare for that interview, have lunch with a classmate you just met who has worked 5 years in something you're super interested in, etc.

In our greatest challenges lie the greatest rewards. At the time I did not recognise it, but on hindsight learning to deal with FOMO when feeling overwhelmed with amazing options all around me was excellent training in self-awareness. By saying no to some things, one automatically says yes to others. If I didn't know what to say no to, I was just drifting directionless without managing my energy optimally. That's part of the experience of being lost, without clarity of what is priority. It taught me a great lesson in prioritisation and that I can't do it / have it all… and to start to accept that.

• Rewarding:

The friendships formed. It is completely disproportional how deep the friendships I formed in just 1 year. Most people will never experience that again post-BMA as new chapters in life of a very different type take over.

Also, the psychological and soft classes at INSEAD were super rewarding for me, unconsciously sowing the seeds for what would later become my second career in executive and mindset coaching. I really enjoyed ‘Psychological Issues in Management’, the ‘Art of Communication’, ‘Negotiations’ classes. Reinforced in me at a deeper level that everything at the end of the day is about people.

There are natural limitations to what a business school's Career Development Centre (CDC) can do that many students do not appreciate. Therefore I witnessed many students disappointed as their expectations were not met. CDC cannot provide a red carpet to your dream internship and job. They can provide support like providing insights on recruitment info, putting on recruiting events and career fairs, talks with relevant business leaders, interview help, etc.

I did not intend to rely much on CDC for my recruitment. In fact, I started networking with people in my target industry directly BEFORE my MBA even started. That was a couple of months well spent as it's a game-changer to be able to revert to previous conversations and relationships instead of reaching out from scratch alongside many other MBA grads during the recruiting season.

Given my particular career ambitions, I did not feel CDC could help me much. I found them helpful in providing info and exposure to sectors and companies I knew nothing about and for that I was grateful. Once you start honing in on your preferred career/companies, the winning strategy is your own proactivity.

I am not a fan of this question because I think only considering the span of an entire lifetime and qualitative factors beyond financial does the question justice. And that is just not possible to calculate. The standard statistics around starting MBA graduate compensation captures only a small portion of the story. How fulfilled are people in those jobs? What portion of graduates are in the same role even just 2 years after graduating? Many further questions would need responses before this question could be even partially answered.

1. If your main criteria for choosing an MBA is financial ROI, then you have not yet understood the MBA proposition in its entirety and need to do more research and have more conversations.

2. If your main criteria for your next step in your life is financial ROI AFTER doing extensive research on the MBA experience, then do not do an MBA. There are plenty of other things in life that have a higher expected financial ROI.

3. If you have done extensive research, you'll know that your RoI is completely your responsibility. If it's the most important thing to you, from day 1 at your MBA you should focus on interview preparation and networking outside of school to work towards the highest paying job offer you can get. If it's less important to you, or you trust yourself and life that you don't need to rush with getting a high compensation job straight out of school, then you'll make the most of the MBA experience. The choice is yours.

4. Considering ROI in general, for me it was infinite. The non-financial returns on friendships, life lessons, alumni network, sheer amount of fun and travel and overall experience is immeasurably high for me. Some of that I may not have recognised in the immediate period post-graduation. And equally, some returns I am sure I am to receive in the future.

Having said all that… I can share the financial aspects of my own journey. After INSEAD I wanted to build something myself instead of joining big companies. So I joined a startup impact investment fund (thanks to a serendipitous encounter at a brunch organised by an INSEADer friend). We raised some money but not enough to launch and after 2.5 years we shut down. Considering this period of minimal income, my financial RoI of the MBA was definitely negative. Subsequently, and thanks to this impact investing and entrepreneurial experience, I landed a role where I earnt my highest ever total compensation. My earning volatility continues to this day. It's all been my choice. It not that there's an average INSEAD RoI that was imposed on me. I created my own RoI.

I found the broader INSEAD alumni network very helpful. Being part of the network massively increases your chances for that first conversation about anything, even with a cold approach. Almost everyone I solicited for informational chats or career advice was willing. My immediate closer network of my own 15D class proved highly useful as well - I even landed a part-time consulting gig shortly after graduation where I worked for a tech firm launched by a classmate!

And literally right now as I'm going through a career transition, I'm launching a new initiative around personal development. The first cohort I targeted to launch it into was the broader INSEAD network. So 9 years on, I'm still reaping new benefits of having done the MBA.

• Some truly exceptional professors whose entertaining, engaging, insightful teaching was world class

• Travelling to other countries with large groups of friends and experiences shared

I elected to start the MBA in Singapore (affectionately nicknamed ‘Singy’). One reason was that I MUCH prefer warmer climates! 😊 So avoiding Europe in the winter meant creating a year-round summer :-) and the opportunity to do leisure travel in South East Asia. Also, I suspected I would target working in Europe post-MBA, so it made sense to target being closer, in Fonty, in the second half of the year when attention shifts to recruitment.

I ended up spending the first 6 months (Period 1 - Period 3) in Singapore, then 2 months (P4) in Fonty, then 2 months (P5) in Singy again. My choice to go back to Singy in P5 evolved during the year as (i) I realised it would be cold again in Europe :-) (ii) more of my classmates-turned-friends chose Singy over Fonty for P5 (iii) I relaxed into my choice to pause spending precious MBA time on recruitment efforts and be more present instead for the last 2 months of this once-in-a-lifetime year. This was more appropriate as I did not want to work for big companies, and only they had clear postgraduate recruitment processes to be completed well in advance. I intended to just figure it all out after graduation. Which I did, because life always works out 😊

Social life was off the charts awesome. I don't think I've ever partied, travelled for fun, socialised as much in a year as during my MBA year. Sometimes I needed to say no just to take a breather! I felt more at home amongst INSEADers than in most other communities in my life. As someone who lived in 8 countries across 3 continents by 2015 (the nature of this kind of profile being the norm at INSEAD), I often felt in life I don't belong. At INSEAD, I belonged. I thrived and I felt connected.

There's just some magic created when a whole bunch of ambitious, diverse, international young adults dedicate an entire year away from their normal lives to experience something they believe is worth it.

It was thus incredibly easy to form connections with peers - and even professors. As an illustration of this in practice, some professors end up investing in companies started by their students during or after the MBA :-)

This is the unedited article I wrote exactly on this question shortly after graduation in Dec 2015, so this is a response unfiltered by time and by hindsight:

Post-INSEAD cacophony of feelings

It's all over.

The crescendo: a 407-person graduation trip to Sri Lanka. The climax: the graduation ceremony of our 15D MBA class on the 16th December in Singapore attended by ~350 students. The diminuendo: the Fontainebleau edition of the ceremony 2 days later, attended by ~150 students.

Curtains down. No encores.

It's all over.

Some students, including yours truly, went to both graduation ceremonies - if ever there was a sign of being in denial about the end... :-) My immune system finally rebelled against the sleep-deprived INSEAD-intensity I had been throwing at it. I came down with a heavy flu; I struggled through some of the final social events of this stunning INSEAD year and was forced to miss others. My body, preventing me from saying goodbye properly, clearly also in denial.

I'm now in a café in chilly Budapest. Outside, a light drizzle dances away in the misty afternoon. Pondering over the past year which flew by in a haze, I navigated through my current inharmonious and nebulous feelings:

Gratefulness - In the lottery of birth, I was born into the privileged ~0.1%, to parents who valued education. On that platform, it’s relatively “easy" to be able to embark on phenomenal journeys like INSEAD. I'm extremely lucky.

It is imperative not to take life for granted. Three friends (similar in age to me) mourned the passing away of their fathers this year. I’m alive. Both my parents are alive. I feel indebted to life.

A brother from my dear section A7 has a permanent reminder on the top of his to-do list app on his phone: “be grateful and count your blessings”. He's too right.

Richness - I'm ~EUR100,000 down, but priceless experiences and friendships up.

Emptiness - Where did the INSEAD buzz go? The inspiring conversations with fellow students to have, the latest startup ideas over which to chinwag, the flights for next weekend to book? An empty calendar feed, quiet WhatsApp chat groups and even my INSEAD email inbox seems inactive... Where is the daily trade-off between 3 conflicting and ultimately all fantastic events? Where is everyone?

Sadness - Some faces I'll never see again.. Ouch. The word "never" resonates and echoes around the empty cafe in which I'm sitting. What a monolithic, sad word that is... Maybe at a future official INSEAD reunion I can prove that word wrong. It feels harsh, the inevitability that I won't have time to stay in touch with everyone with whom I'd want.

Exhaustion - A psychological exhaustion from 12 months of compressed time in which I met more people, moved homes across continents, read more cases and used more local SIM cards than ever before. From INSEAD's famous 3'S'es, Sleep was sacrificed - Studying and Socialising was not.

Disappointment - The realisation that I'm simply unable to communicate and share the breadth and magnitude of the INSEAD experience with those who did not go through it themselves.

Excitement - It was a breathtaking year. And it's time to move on; if I would have to do another year of INSEAD now, I'd probably die - I'm too exhausted. The desire to go back out into the real world and build something meaningful feels strong. Create, instead of just consume. I can’t wait. The future shines bright with possibilities.

DO IT!!! 🙂

More seriously though, do your research and speak to as many alumni as you can from your shortlist of business schools. It will confirm whether INSEAD is the right fit for you.

Ask yourself the tough question of would you prefer to use that ~EUR100k to start your own company instead? Whether you fail or succeed, you sure as heck will learn a lot. Or take a gap year doing something completely different?

There is nothing I wish I had known before starting the program. I had done my research thoroughly.

Hell, yes!

Even if that MBA year would have cost me twice as much.

You can't put a price on such a unique experience, forming lifelong friends and such a powerful network.

Try extremely hard to gift yourself some time off before the program starts. The program, options, opportunities, and unique experience will start in 6th gear on Day 1. You want to be present for as much of it as humanly possible. The last thing you want is to:

• still be working on some project from your old job

• not feel fully recharged because you only stopped working like a week before Day 1

• ignored the admin work from INSEAD around visas, student card, accommodation, etc. Of course you inform yourself about it all once you're there. But anything you can do in advance and be on top of means just more time to play and focus on what really matters.