Since it is much more of an asset than education, the MBA is unquestionably the most renowned and sought-after degree by students all over the world. Business school is supposed to be about developing skills and perspectives in the business world, meeting new people, and studying the intangibles of management. Most students, on the other hand, are torn between pursuing an MBA in India or abroad. Let’s look at some of the factors to consider when deciding between an Indian MBA and a foreign MBA.
Table of Contents
Cost of Study – Indian MBA Vs Foreign MBA
Because of the additional expenses involved while studying abroad, the cost of education is often the decisive factor for many applicants. Getting an MBA in India is much less expensive than having one in the United States, Canada, or the United Kingdom. An MBA in India can cost anything from INR 7.5 to INR 25 lakhs, whereas an MBA abroad can cost anywhere from INR 67.17 lakhs to INR 1.04 crore. One-year programmes would be slightly less expensive, costing between $55,000 and $80,000. Furthermore, living expenses in other nations will be significantly higher than in India. This is where student loans can help. It is vital that you carefully consider the return on investment (ROI) and choose an MBA programme that is best suited to your requirements.
Top Colleges for MBA Abroad
Many people dream of doing an MBA in a foreign country, but the problem arises when deciding the country and university to attend.
So, according to the QS Global MBA Rankings, here are a handful of the best MBA abroad universities. These colleges are the most prominent when it comes to business schooling since they offer a wide range of chances and placements, as well as a robust alumni network:
| QS Global MBA Ranking | University Name |
| 1 | The Wharton School |
| 1 | Stanford Graduate School of Business |
| 3 | INSEAD |
| 3 | MIT Sloan |
| 5 | Harvard Business School |
Top 5 MBA Colleges in USA
Mention below are 5 top colleges in USA :
| World University Rankings – Full-Time MBA: Global | University Name |
| 1 | Stanford Graduate School of Business |
| 2 | Penn (Wharton) |
| 3 | MIT (Sloan) |
| 4 | Harvard Business School |
| 8 | Columbia Business School |
Read more about : MBA in USA
Top 5 MBA Colleges in UK
Mention below are 5 top colleges in UK:
| World University Rankings – Full-Time MBA: Global | University Name |
| 7 | London Business School |
| 16 | Oxford (Said) |
| 17 | Cambridge (Judge) |
| 22 | Imperial College Business School |
| 34 | Warwick Business School |
Read more about : MBA in UK
Top 5 MBA Colleges in Canada
Mention below are 5 top colleges in Canada:
| World University Rankings – Full-Time MBA: Global | University Name |
| 45 | Toronto (Rotman) |
| 59 | McGill (Desautels) |
| 66 | Queen’s University (Smith) |
| 69 | Western University (Ivey) |
| 88 | University of York (Schulich) |
Read more about : MBA in Canada
Top 5 MBA Colleges in Australia
Mention below are 5 top colleges in Australia:
| World University Rankings – Full-Time MBA: Global | University Name |
| 26 | Melbourne Business School |
| 41 | Australian Graduate School of Management |
| 73 | Monash Business School |
| 95 | Macquarie Graduate School of Management |
| 99 | UQ Business School |
Read more about : MBA in Australia
Top 5 MBA Colleges in Germany
Mention below are 5 top colleges in Germany:
| World University Rankings – Full-Time MBA: Global | University Name |
| 39 | Mannheim Business School |
| 42 | Frankfurt School of Finance & Management |
| 58 | WHU (Otto Beisheim) |
| 83 | ESMT Berlin |
| 141-150 | HHL Leipzig Graduate School of Management |
Read more about : MBA in Germany
Top Colleges in India for MBA
The best MBA colleges in India not only are listed by prominent and respected ranking organizations in India, but also by QS World Ranking, Asia Pacific Rankings, and other international ranking agencies. To obtain the greatest business academically, the following is a list of top schools and institutions in India that offer quality education at a lower cost:
- IIMs
- Indian School of Business
- XLRI Xavier School of Management
- IITs
- Management Development Institute
- SP Jain Institute of Management and Research
- Faculty of Management Studies
- SVKM`s Narsee Monjee Institute of Management Studies
- Indian Institute of Foreign Trade
- National Institutes of Technology (NIT)
- Jamnalal Bajaj Institute of Management Studies
- Symbiosis Institute of Business Management
- ICFAI Foundation for Higher Education
- Indian Institute of Foreign Trade (IIFT)
- International Management Institute
- Xavier Institute of Management (XIMB)
- Banaras Hindu University
- Amity University Noida
- Birla Institute of Management Technology
- University of Petroleum and Energy Studies
Entrance Exams for MBA
In India, the Common Admission Test, or CAT, is a widely used MBA entrance exam. CAT scores are accepted by several of India’s top business schools, including the famous IIMs. In addition to the CAT, a huge number of students take other frequent admission tests such as SNAP, XAT, NMAT by GMAC, and IIFT each year intending to study MBA and PGDM programmes at India’s leading b-schools. Applicants applying for admission to an MBA programme at a foreign university must, on the other hand, take the GRE or GMAT, which are conducted regularly and allow hopefuls to choose a suitable exam date.
Work Experience for Indian MBA vs Foreign MBA
Some B-schools accept students with no or little work experience, in contrast to most MBA programmes abroad. While several Indian business schools, such as ISB Hyderabad, IIM Ahmedabad, IIM Bangalore, XLRI, FMS, and others, accept many students with relevant job experience, this approach is not followed by other universities and colleges.
B-schools in the United States though, prefer individuals who have worked for at least 2-4 years. Top Canadian colleges, likewise, prefer candidates who’ve already worked for nearly two years. To study in Australia, you must have at least two years of work experience, but the same is accurate in any European country.
Recommended read : What is the scope of MBA?
Indian MBA vs Foreign MBA: Placements
When compared to universities abroad, Indian institutes provide more placement opportunities. Even though institutions in other countries support students in their career search, getting a job that complements your degree might be challenging.
You may have to battle and consider inferior positions, to begin with, to secure a deserving position abroad. These minor adjustments will enhance your overall experience. Regardless of where you study, you may improve your soft and hard abilities to make it easier to get employed during placements.
Indian MBA vs Foreign MBA: Salary
Besides the university you chose, the most essential component can be heavily influenced by your job, skillset, additional courses you’ve taken, and so on. However, the average pay for an MBA graduate from India is between INR 23 lakhs and INR 25 lakhs. On the other side, getting an MBA at one of the world’s top universities can earn you INR 78 lakhs.
Indian MBA vs Foreign MBA: Course structure
There are numerous similarities and contrasts between the course structures in India and overseas. While both schools’ courses cover nearly the same topics in a variety of specialisations, the manner they take is vastly different.
Through case studies of diverse corporate entities, coursework, and internships, an MBA education abroad focuses more on giving students practical expertise. Indian colleges, on the other side, offer a combination of theoretical and practical aspects. They want to instil the habit of first studying a concept and then putting that knowledge into practice.
While both systems have advantages and disadvantages, the way used by Indian universities is more exciting and engaging because students are fully informed about how to perform certain procedures or solve specific problems when they are applied.
FAQs
Ans: The answer is simple: if you can afford it, earning an MBA from a mid-level institution abroad is far superior to doing an MBA from a private institute or university in India. Simply put, there is a higher return on investment.
Ans: An abroad MBA degree can surely be a benefit for you here in India, but it can also definitely make your life easier. However, if you have obtained some international experience and subsequently returned to India for job, it will undoubtedly be more useful than merely an MBA degree.
Ans: Yes, after obtaining your MBA degree with a specialty in any stream in India, you may work anywhere in the globe.
Ans: Portugal.
Portugal is the most affordable country for pursuing an MBA. International students studying at an authorised university in Portugal can benefit from reduced tuition costs, fully financed grants, and government scholarships.
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