The worlds most affluent alumni group
Does not send their kids for a MBA
Or even for engineering.
The most affluent alumni group in the world are the IITians. They directly and indirectly control over USD 7.5 trillion of investable funds. This is more than the investment ability of most countries including China and around three times the GDP of India.
This group is also probably a seemingly inconsistent combination of middle class family background and globally affluent individuals. Besides personal wealth, they also control substantial wealth of pension funds and financial institutions through venture capital funds and private equity vehicles managed by them.
A lot of people at philanthropy events ask, “what should we get our kids to learn?”.
I think it is a very personal answer and a lot would depend on the kids strengths and inclinations. But I tried to peep into our alumni next database to find a “general” answer. The alumni next platform of the IIT Alumni Council enrols kids, parents, siblings and spouses of IIT Alumni. It started off because kids wanted social projects to work on. And those that did got into higher rated colleges than those that did not. And thus got created the worlds largest intern platform.
https://lnkd.in/gGQUKn37
Here is a summary of the general answer. With disclaimers of course that one answer cannot suit all. A lot depends on personal attributes of the individuals concerned. But as a general answer:
1. They enrol in a liberal arts or equivalent program in a college typically ranked higher than the average IIT. Few even attempt to get into IIT and almost none of those who try get in. 75%+ do an undergrad abroad. Those in India go to private universities like Ashoka in preference to old world St Xaviers or St Stephen’s. IISER is emerging as a new choice in preference to a IIT.
2. Subsequent to a four year undergrad, there are an insignificant number that pursue a MBA. Those that do enrol at IIM or a global school rated higher than a MBA
3. Most actually enrol for a MS or apply directly for a PhD. There is a wide mix in colleges chosen for a PhD. It is mostly guided by the city that the college is located in. So tech hub Silicon Valley has taken Stanford way above the upper crest Harvard. MIT is still aspirational though.
4. Liberal arts is not an arts course but a wide format which allows a student to choose subjects with a lot of flexibility. So you could major in Computer Science with a minor in music as one example. Or you could start off in science and change over to management. They can also go to the U.S. and do a MD in medicine from say Harvard or John Hopkins. Medicine and biotech are hot as PhD substitutes.
Regardless of what course or subject they take, the kids are studying harder and longer. Ai is emerging as a favourite subject and the American universities in Silicon Valley seem way ahead of the rest.
I expect a PhD in the IITs to become very popular among the liberal arts graduates.