Almost a million pesos to get a Master’s (MSc) degree in Innovation and Business from AIM. Was it worth it? Yes and No

So, friends have asked me for the fifth time if taking the MSIB, or Master of Science in Innovation & Business program at the Asian Institute of Management (AIM), was worth it. After almost two years since graduation, I thought it would be good to finally update my feedback and reflect on the program.

So, was it worth it?

The short answer is yes and no, or,
in the proverbial AIM response, “It depends.”

Let me share my thoughts below. First, remember that we have different life seasons and thresholds for measuring if something is “worth it.” Here’s some context influencing my feedback:

1. Discounted Tuition: I took the MSIB program as part of the pioneer batch in 2017. We received an inaugural discount and partial scholarship in exchange for being the MVPs, or prototypes. So, there was more uncertainty and ambiguity during our time, in exchange for a 20 to 40% discount. However, I’d say that for the second batch, the program timing, class schedule, and design were 30 to 40% better than our experience. Two to three groups from MSIB Batch 2 received funding from the Ideaspace Foundation and Cerebro Acceleration programs even before graduation. The startups they pitched were the startups they pursued as “thesis” or “capstone projects.” The program iterated the design in its third year, so we’re yet to see how it is now.

2. Company-Sponsored: I successfully pitched to my company to cover my tuition fee in exchange for a three-year bond and a future promise of growth capabilities. My “tuition fee check” arrived a few days before the start of class. Compared to taking a personal loan, I had the “safety net” of going back to work right after graduation. I’ll share more details in a future post on how I convinced our management to cover my tuition fee. This helped me manage financial risks better.

Program Iterations: The first two batches of MSIB were full-time, ten-month programs. We had classes from Monday to Friday, from 8 am to 5 pm. We even had Saturday classes and exams from time to time. But with the third batch, they became a part-time program with Friday or weekend classes.

I have mixed thoughts about whether a part-time program is better or not, considering your graduate school experience and focus. I also haven’t heard detailed feedback now that MSIB is under the “Aboitiz School of Innovation, Technology, and Entrepreneurship.” For sure, the current batch has a different take on it. I’ll update this post once I get more details when they graduate. But the class size doubled this year, so I assume the option to not resign from work (if you can’t afford giving up your payroll cash flow) works.

4. In Between Transition: The Asian Institute of Management is the premier business school in Asia, founded by Harvard Business School. It’s the number one business school of choice by Filipino executives. It’s widely known for its MBA program. During our stay, there were momentous announcements. Thanks to President and Dean Dr. Jikyeong Kang, AIM’s rebranding was just launched, the AIM incubator (named after the Filipino tech billionaire Dado Banatao) just opened, and the now internationally renowned MS in Data Science program just started. We were between the 50-year heritage of AIM as a management school with an Asian focus, and the optimism under the new leadership. This gave me a sense of optimism and momentum.

5. Innovation Theories and Bootstrap Startup Balance: Our graduate school capstone project, “Arooga Health,” allowed us to pursue further startup incubations. We received free trips and training in MaGIC Cyberjaya, Malaysia; UNDP YouthColab, Thailand; and UNDP, Beijing, China. So, my perspective on theory and practice is influenced by those experiences.

February 2020 Update: Hello! If you’re reading this in 2020, my Dentsu bond is about to end, and it’s important to note that MSIB is now a part-time program (I think Friday and Saturday classes only). The recent MSIB Batch 4 even had 60+ enrollees! The average age is also almost twice our batch’s, and it’s awesome to hear about a more diverse class from industries such as architecture, medicine, and even aerospace engineering! I guess it connected with professionals who wanted an alternative to the “perceived as traditional” MBA program, a management approach to innovation, the graduate school experience at AIM, and still get the security of a regular paycheck. I’ll write a separate post after my bond ends.

Now, going back to if it was worth it.

Yes, it is worth it if:

1. You see a Master’s degree as leverage for Academia and a Ph.D.: When I interviewed for a teaching opportunity at Benilde, I was told that having a Master’s degree put me at a significant advantage in terms of acceptance and salary. Some schools even recruit potential teachers with a Master’s degree and industry experience to gain points for school-level accreditations like PAASCU. Speaking to some young professionals on some engagements, I also get the impression that a Master’s degree is an essential stepping stone to a Ph.D.

2. Graduate school abroad or an overseas scholarship is not an option: It was during my stay at AIM that I was introduced to different business school jargon. These include AACSB (Association to Advance Collegiate Schools of Business), Ivy League schools like Yale, and different value propositions, such as how INSEAD is the “Business school for the world.” Before AIM, I’d only heard of Stanford and Harvard from the movie The Social Network, featuring the story of Facebook founder, Mark Zuckerberg. To date, AIM is no longer ranking in the top 10 graduate schools worldwide. However, AIM is a 50-year-old management school and was perceived as the Harvard of the East. I was surprised by the warm alumni welcome when we visited Singapore. You’d also get a sense of diversity, with schoolmates coming from Bhutan, India, Nepal, and Vietnam. Though Batch 1 was all Filipino, we got to interact with them as schoolmates during social gatherings, school activities, and international competitions. As one professor put it, AIM is a global management school with a focus on Asian business and society. Though schools and titles might not mean as much as they did ten years ago, a mentor affirmed that graduate school is like “networking on steroids.” Some program coordinators would even joke that some students go to graduate school to find a “life partner.” That might sound “too transactional,” but you get the drift.

3. You are looking for a competitive advantage: At some speaking engagements, I’ve noticed most introductions emphasize my completion of a Master’s degree at AIM. They seem to see it as an affirmation of mastery and grit. Although I’m a firm believer in experience and expertise over titles and certificates, putting theories into your craft gives you a better perspective. You can provide a better view of relating your work to frameworks that other managers, even in a different industry, can appreciate and learn from.

4. You are looking for a startup sandbox: If you are not sure whether to quit your job to build your startup now or continue gaining momentum climbing the corporate ladder, MSIB might be a good option. As I’ve noticed, taking graduate school or an MBA is an accelerated management trainee program. You will be exposed to different global business case studies. Each core subject is discussed in 10 to 20 sessions, and you’ll get hundreds of Harvard case studies facilitated by leaders with industry expertise or Ph.D.s. Unfortunately for me, it also has homework, group activities, and exams to move your learning from memorization to application. One of our professors, who built his own startup after an AIM MBA, put it as “graduate school as a window to take risks and build your startup. If you fail in your startup, you still have a higher market value than before taking graduate school.” The expensive lessons learned and the network you gain afterward definitely give you a better perspective and position in the workplace than those who didn’t attend graduate school.

No, it’s not worth it if:

1. You want short-term ROI: You’re after a short- to medium-term return on your money. You might be better off investing your money by learning how to trade in the stock market or starting your venture to learn by doing. As a mentor responded, depending on your life season, you might be better off mastering your craft than getting a Master’s degree.

2. You’re not prepared: You have health concerns, and you can’t take the toll of full-time graduate school, late-night work, and the emotional roller coaster of coming up with the next big startup, working with learning teams, and keeping up with the pile of readings. It won’t be a surprise if there will be breakdowns, fights, and hospital confinements from your classmates. Lack of sleep, pressure, and academic pressure can lower your immune system. Make sure you are prepared emotionally and physically!

3. You do not have a financial safety net: Some perceive education as a great equalizer, while graduate school at AIM is a privilege. Although there are available ADB scholarships and loans through Security Bank, it would still be more manageable to get “family loans.” Graduate school tuition fees and opportunity costs are staggering. It is a word that here means “deeply shocking” or “overwhelming” if you haven’t been tracking the cost of graduate school. The flagship MBA program tuition

So, is it worth spending and risking almost a million pesos for graduate studies (more than a million in 2020, including living expenses and rent) for a Master’s degree in Innovation and Business?

Yes and no.

Or it depends on your situation and context.

Will I recommend it? If you can receive a sizable scholarship or company funding, go and explore. Take the entrance exam and figure out the details from there. However, if it will be a loan from a bank and not from your parents, I’d suggest you think ten times before you’re certain. Graduate school debt is no joke. Like relationships and marriage, graduate studies have optimal times in life.

I hope the thoughts above shed some light and help you decide. If you’re still not sure whether to take it or not, feel free to send me a message. I’d be happy to give you a quick tour of AIM in Paseo de Roxas, Makati, after office hours and a brief chat about whether you should take it or not.

Hey! Thanks for reading this far. I’ve wanted to document more thoughts about my graduate school experience. These include topics such as the psychological cost of graduate studies, the hype cycle of early-stage “startup” entrepreneurship, how I got my company to pay for my MSIB tuition fee, and alternatives to taking the MSIB program.

So, if you’re interested in those topics or found value in this post, let me know in the comments below. It would be awesome to hear feedback or suggestions about future posts.

Feel free to share this with friends who might be considering or looking for a graduate school program.