Abstract: This study explores the impact of individualism and collectivism on ethical decision making process among generation Y people. It compares the decision making process be generation Y students from India, US and Thailand. It also tries to explore on change in their decision making process due to globalization and recession. It was carried out in A and B class cities of India and US and Thailand, respectively. Students doing MBA participated in this study. Study was based on their responses to a question raised to them. Two type’s behaviors were observed among generation Y. Individualist behavior predominates the US future manager compared to collectivistic behavior among Asian future manager. However, there is shift in their thinking process. The percentage 24 to 30 shift has been observed in US among students towards collectivistic behavior. This is higher in population of more than ten million in US. The ethical norms are changing in US. More individualistic approach were observed in India and Thailand. Smaller city like Raipur has more collectivistic approach compared to city like Mumbai or Bangkok. Lager cities in Asia have observed more inclination towards ethical practices among students of MBA which could be due to globalization, economic recession etc. This finding opens up new issue to all HR personnel for grooming the new managers who will be joining after completion of their MBA course.