Luis Miranda, MBA'89
Luis Miranda, MBA'89

Senior Associate Dean Ranjan Daniels, AM’94, recently interviewed Luis Miranda, MBA ‘89, who shared with incoming students the importance of developing resilience during challenging times. Miranda has been involved in setting up two highly successful companies—HDFC Bank and IDFC Private Equity—before he pivoted to the nonprofit and social impact space. In 2018, Miranda founded the Indian School of Public Policy (ISPP), a public policy school focusing on the design and management of institutions and rules that govern society. Through ISPP, Miranda continues to collaborate with UChicago on events to connect alumni and policy leaders in India with Harris students.

What was the process like to get to UChicago Booth from India for you?

I studied commerce in my undergraduate degree in India and trained to be a Chartered Accountant (equivalent of a CPA). My parents wanted me to get an MBA. My cousin earned his MBA from UChicago Booth, and that’s the reason I decided to apply.

There was a huge stock market crash—known as Black Monday—just a month after I started my program in September 1987. The crash had a major impact on the economy, and the job market was very tight. It was a difficult time to be a student and most of us were pretty anxious about our future.

The summer between my first and second year, I landed an internship with Citibank in New York. The relationships and networks I built during the summer led to me receiving a call to interview for a position based out of India that focused on marketing and foreign exchange. I had no desire to return back to India right away, but the job sounded exciting and interesting…. I decided to take the opportunity.  

How did you build relationships with people and develop your network?

I have been very good at connecting the dots which has further translated into the various things that I have achieved. I also built a model for networking which I termed PHORCE:

P: Positivity

H: Hard Work

O: Openness

R: Relationship Building

C: Consequences

E: Empathy

What did you see in the infrastructure space in India that attracted you to it?

The University of Chicago taught me how to think, to challenge everything and if something is broken, fix it.… When I got the opportunity to be part of the story of improving infrastructure in India, I decided to take it on as a challenge. By working in the infrastructure finance space, I came in close contact with the government, and very quickly realized that in order to be successful in business, one has to also bring the government along. Understanding policy and its intersection with enterprise is key to success in India.  

Is this the right time for students to go to school or should students keep working?

Perhaps now is the best time to go back to school as this is an ideal time to up your skills and learn something new.

Perhaps now is the best time to go back to school as this is an ideal time to up your skills and learn something new.

Students need to be flexible and agile in today’s scenario. Since the job market is going to be relatively flat in the coming term, it is wise for aspiring students to enhance their skills which will make them more employable.

What are some personal practices that you draw upon for resilience?

On a personal level, it is necessary to focus on the important things in life. Decision making becomes easier once you identify what really matters the most to you. It is important to understand that you can't fight every battle and that you need to choose your battles carefully. When you have that balance in your life, it becomes easier to be positive and resilient.

If you enjoyed this post, and would like to know more, you can watch the full interview here.

Home