Summary
- Reasons to study MBA abroad
- Why study MBA abroad?
- Why MBA is popular
- Why do Indian students pursue MBA abroad?
- What after MBA?
An MBA is one of the most sought-after post-graduate courses. What makes MBA so popular amongst students is the diverse knowledge one gain from doing an MBA course.
Another reason why MBA is popular among students is that it is a course that can be pursued after business-related graduation.
You need not have completed an undergraduate course in business management to pursue an MBA degree.
MBA courses are available all over the world. Many universities and colleges offer top-class MBA programs in diverse fields of interest. Many students prefer pursuing MBA from universities abroad.
What Makes Indian Students Select Foreign Countries to Pursue an MBA?
Although India offers excellent MBA programs in some of the most prestigious institutes in the country, many students prefer to pursue MBA abroad.
This is because the MBA courses in some of the most prestigious institutes in the country are very competitive offering only a few seats per year for students.
Many deserving students miss out on an opportunity to get into these prestigious MBA programs because of a shortfall of a few marks.
For employers, an MBA from a top university or college is what gives more weightage to the degree.
This is why many Indian students prefer to pursue an MBA degree from a foreign university. This may prove to be more advantageous than pursuing an MBA course in a two-tier business management school.
Now the question arises which is the best country to do an MBA?
Although many countries in the world offer the best MBA courses for students, a few countries offer bonus benefits for students.
Before we take a quick look at the countries that offer excellent MBA courses to students, let’s look at why students should choose to pursue an MBA abroad?
Students usually look to pursue their MBA abroad for more than one reason.
1. Wide Networking Base
Pursuing an MBA abroad can increase a student’s network. Students are exposed to different cultures, traditions, and people while studying abroad.
This exposes them to a large network base which could help while pursuing a career.
2. Lucrative Careers
Many countries offer attractive visa options for students to pursue a bright career on completion of the MBA course.
Doing an MBA degree from abroad often results in higher and better jobs for students rather than an MBA from a business school in India.
3. Practical Skills
MBAs from abroad are known to infuse practical knowledge rather than bookish knowledge. That is the main difference between MBA from Indian colleges and MBA from foreign universities.
Foreign MBA courses include practical knowledge and skills in the program. Students are exposed to modern business practices while pursuing MBA from abroad.
4. Global Recruiters
MBA from international institutions attract recruiters from the global market
5. Specialisation Courses
International business schools offer various specialised courses in MBA. Apart from the special courses in MBA, they offer part-time or full-time courses depending on your convenience.
Why Study MBA Abroad?
Global Networking and International Exposure: MBA students who study abroad are exposed to a variety of cultures, ideas, and business practices. A global perspective, which is essential in today’s world, is developed in prospective business leaders as a result of this worldwide experience. Additionally, students have the chance to develop a sizable international network of contacts, giving them the chance to forge relationships that will help them in their future employment.
Increased wages and ROI: This is among the most significant reasons for earning an MBA from a business school abroad. An MBA graduate from a reputable foreign business school often earns a salary that is significantly greater than an MBA graduate from an Indian business school. In comparison to India, you make twice as much money abroad. Therefore, from the viewpoint of ROI, studying for an MBA in one of the top countries is very advantageous.
Reputable Universities and Specialisations: There are reputable business schools in many countries, and they provide specialised MBA programs in a range of industries, from marketing and finance to entrepreneurship and sustainable business. Students have a variety of respectable universities to choose from when studying abroad, each with distinctive strengths and faculties. Students are empowered by the variety of possibilities to select the course of study that best suits their interests and career objectives.
Integrated Learning Environment: An immersive learning environment that goes beyond the classroom is offered by MBA study abroad programs. Students who live and study abroad must learn to adjust to unfamiliar surroundings, collaborate with people from other backgrounds, and handle practical business situations. These opportunities help develop the adaptability, cultural intelligence, and problem-solving abilities that are necessary for effective business leaders.
Business skills: As an international student, MBA students have the opportunity to gain new skills that will strengthen their resumes as well as participate in unique life experiences. By taking part in an immersive study abroad programme, they can learn or develop fluency in another country’s language at the social, intellectual, and professional levels. Additionally, they can learn how to work with various leadership and business styles to better understand.
Best Country to Study MBA for Indian Students
For Indian students, many countries offer top-class MBA programs. Some of the popular countries for MBA are:
- US
- UK
- Singapore
- Germany
- Australia
- Canada
1. United States of America
The USA is one of the best countries to study MBA for Indian students. It has the world’s most prestigious universities for MBA.
These universities in the USA offer varied and unique courses for MBA. Apart from top-of-the-class infrastructure, the colleges in the USA offer internships and immense exposure for the students.
For admissions to universities for MBA in the US, students must compulsorily clear GMAT and English examinations like TOEFL and IELTS.
Some of the popular MBA universities in the USA are:
- The Wharton School
- Stanford Graduate School of Business
- Harvard Business School
- MIT Sloan
- Kellogg School of Management
- Haas School of business
Cost of Studying – $112,000 to $130,000 per annum
Cost of Living – $900 to $1,500 per month
Popular MBA specialisations in the USA:
- MBA General Management
- MBA Entrepreneurship
- MBA International Management
2. United Kingdom
Another best country to do MBA is the United Kingdom. The UK has some of the top schools for MBA.
The exposure students get from the courses in the UK is incomparable. Students also have the opportunity to apply for jobs in the UK after completing the MBA course.
- London Business School
- Cambridge Judge Business School
- Said Business School
- Alliance Manchester Business School
Cost of Studying – € 64,000 to € 98,000 per annum
Cost of Living – £4000 to £550 per month
Popular MBA specialisations in the UK:
- MBA in Entrepreneurship
- MBA in Operations Management
- MBA in Finance
- MBA in Global Management
- MBA in Technology Management
- MBA in Engineering Management
- MBA in Management Information Systems
3. Canada
Canada is considered one of the best countries to study MBA for Indian students. Canada has some of the best colleges for MBA.
As of now, the Canadian economy is booming which means more job opportunities are available. Apart from business, many other sectors have also found a foothold in Canada like the agriculture and mining sector. This is what attracts students to the country.
- Rotman School of Management
- Schulich School of Business
- Ivey Business School
- Smith School of Business
Cost of Studying – CAD $104,000 to CAD $134,000 per annum
Cost of Living – CAD $1,245 to CAD $2000
Popular MBA specialisations in Canada:
- MBA in Project Management
- MBA in Finance and Digital Banking
- MBA in International Business Development
4. Singapore
Among the countries offering business management courses, Singapore is considered one of the best countries to study MBA for Indian Students.
There are more reasons than one for students from India to opt for MBA courses in Singapore. The first and foremost reason is the proximity to India.
Unlike the USA and UK, Singapore is closer to India. The South Asian country is reachable from India with just single and short duration flights, unlike USA and UK which require long-duration flights with possible stopovers.
Being a South Asian country students tend to feel more at home in Singapore than in any other European country. Easy access to the country is an attractive factor for students from India.
The infrastructure and facilities available in the country are par excellence. The country has a rich economy.
- Singapore Management University
- NUS Business School
- Nanyang Business School
Cost of Studying – 79362 SGD – 119044 SGD
Cost of Living – 925 SGD – 965 SGD
Popular MBA specialisations in Singapore:
- Finance
- Marketing
- Consulting
- Operations Management
- Technology-based Management
5. Germany
Till now Germany was at a disadvantage when it came to attracting foreign students because of the language barrier, but the recent trends in offering MBA in the English language have attracted several students from all over the world.
- Frankfurt School of Finance & Management
- University of Cologne – Faculty of Management, Economics and Social Sciences
- HHL- Leipzig Graduate School of Management
Now Germany is considered as one of the best countries to study MBA
Cost of Studying – €10,000 to €20,000
Cost of Living – €867 to €1000 per month
Popular MBA specialisations in Germany:
- MBA in Finance
- MBA in Entrepreneurship
- MBA in Innovation
6. Australia
Australia is also one of the best countries to study MBA abroad. The QS Global ranking rates some of Australia’s top MBA colleges.
The colleges are known for their well-experienced faculty and state-of-the-art academics and infrastructure. Australia has many Indian students already pursuing MBA in well known institutions in Australia.
- Melbourne Business School
- Monash Business School
- University of Western Australia Business School
- Australian National University
Cost of Studying – AUD $80,000 to AUD $100,000 per annum.
Cost of Living – AUD $2,835 to AUD $3,000 per month
Popular MBA specialisations in Australia:
- MBA in Finance
- MBA in Marketing
- MBA in e-commerce
- MBA in International Business
- MBA in Strategy & Leadership
Eligibility Criteria for Studying MBA Abroad:
- Students who want to enrol in an MBA programme at a foreign university must meet the requirements set forth by the University.
- Students must complete a full-time bachelor’s degree program at a reputable institution or college. Get high grades to be admitted to top-tier MBA programs abroad.
- Standardised tests GMAT and GRE are recognised by foreign universities and are necessary for MBA admission abroad. Popular language competence tests like IELTS, TOEFL, PTE, or others are required for foreign university admission.
- According to the university’s guidelines, applicants for MBA programs at universities abroad must submit a resume, reference letter, and statement of purpose.
- The main steps that students must follow to finish the application process include choosing a course or a country, evaluating their profiles, choosing a university, and submitting the necessary documents.
Now that we have considered some of the top MBA colleges in the world and answered the question of which is the best place to study MBA abroad, we must now concentrate on what you can do after the MBA degree abroad.
After completion of the MBA course abroad students can explore the job markets in the country.
Job opportunities are vast for MBA graduates as they can look at diverse industries like Information Technology, finance, real estate, and other sectors.
Foreign countries offer attractive salaries for MBA graduates. Many reputed multinational companies offer huge salary packages to fresh MBA graduates even without much work experience.
As an MBA graduate, you can find various job profiles in the market. Some of the job profiles available to MBA degree holders are:
Business Development Manager
Project Manager
Strategy manager
Finance
Marketing among others.
Contacting a Study Abroad Consultant
Students aspiring to study abroad must go through a study abroad consultant. Hiring a study abroad consultant has many advantages:
Study abroad consultants possess the skills and knowledge to place you in the right country and in the right university. Educational consultants have a lot of experience when it comes to education abroad.
They have the information and expert knowledge about all aspects of various countries including boarding and lodging details, visa requirements, and other important details.
Apart from this, study abroad consultants will assist students from the beginning till the end.
Whether it is looking for scholarships or doing the groundwork for colleges, study abroad consultants have the experience to aid you with every small detail. They make the process easy for students.
Conclusion
Management in Business Administration is one of the most sought-after courses in the country and the world. Students opt for management courses because they provide a wide platform for networking and job opportunities.
Are you ready to pursue your dream of studying abroad?
CollegeMarker study abroad consultancy is here to help you on this transforming journey with study abroad education advice.
We are ready to help you whether you want to pursue higher education in the USA, UK, Canada, Australia, or anywhere else.
Our staff of knowledgeable counsellors is committed to provide personalised support and knowledgeable advice, customised to your specific goals and academic background.
We will help you in every step of the process, from assisting with visa applications and accommodation to helping you choose the best degree and university.
Let us turn your ambitions of studying abroad into a reality rather than letting boundaries prevent you in the way of your aspirations.
Get in touch with us right now, and let’s embark on this thrilling journey together!
FAQ’s
1. Which are the best countries to study MBA abroad?
The US, UK, Canada, Singapore are some of the best countries to pursue MBA for foreign students. These countries are known for their prestigious business schools and diverse opportunities.
2. Which country offers the cheapest MBA programmes?
Germany is regarded as the county with the most affordable top MBA colleges. The cost of the MBA course for the semester is around €10,000 to €20,000.
3. How do I choose a country for my MBA?
Prior to choosing the country and university to pursue your MBA, take into account the following factors: university ranking, global accreditations, course design, tuition fees, faculties, scholarships provided by the institution, and opportunities available after graduation.
4. Is it better to do an MBA in India or abroad?
If you can afford it, earning an MBA from a university abroad is far superior to earning one from an Indian private institute or university. The return on investment is just higher.
5. Can MBA graduates from the UK get jobs in India?
Students might earn up to INR 85 lakhs to INR 1 crore per year working for reputable Indian companies after receiving MBA from the best UK universities. After receiving their MBA, students who choose to stay in the UK can request for sponsorship from a few esteemed UK universities to extend their visa.
6. Why is the United States considered the best country to study MBA?
The United States offers a wide range of renowned business schools, a diverse student body, extensive networking opportunities, and strong connections with global corporations.
7. Is IIM better than studying MBA abroad?
Even though an IIM MBA (PGP) is substantially less expensive than an international MBA and has high fees and value, achieving a high CAT score and getting accepted into the programme is exceedingly difficult.
8. Are there any scholarships offered to students studying MBA abroad?
Yes, a lot of countries and organisations provide financial aid and scholarship opportunities to draw bright foreign MBA candidates for studying.
9. What are the normal criteria for international applicants to the MBA program?
Academic transcripts, GMAT/GRE scores, letters of recommendation, statement of purpose, and English language proficiency exams like the TOEFL or IELTS will all be needed for MBA admission abroad.
10. How do the costs of an MBA program differ between various countries?
The fees for an MBA program varies based on the country, the university, and the length of the program. US MBA programmes are typically more expensive than those offered elsewhere.
11. Can I work part-time while pursuing an MBA in these countries?
Among the few countries that permit full-time students to work off campus are the UK, Australia, and Canada. They are permitted to work 20 hours per week during semesters and full-time during breaks in the UK and Australia. Check each country’s specific visa requirements to know more about this.
12. What are the prospects for foreign students after MBA in these countries?
International students frequently have good post-MBA job opportunities, particularly if they have gained useful skills and appropriate work experience during their education.
13. Which MBA specialisation has scope abroad?
An MBA specialisation in marketing management focuses on all facets of commercial advertising, business strategy, and the growth of a company’s bottom line through efficient marketing initiatives. Both in India and abroad, there are several employment opportunities in marketing management.
14. Will I get jobs after completing my MBA in the UK?
For MBA graduates, the UK has a variety of job opportunities. Job roles are available in a wide range of sectors, including banking, marketing, information technology, and management consulting. Students can even work for a commercial corporation or the government.
15. How can I get a student visa to study for an MBA in the country of my choice?
In order to be granted a student visa, you must apply to your desired MBA program, be accepted, show that you have the money to pay your tuition and living expenses, and meet all other necessary requirements.
