Study MBA AbroadOctober 19, 2023
Full Scholarship Guide to Study MBA AbroadOctober 19, 2023
MBA from Abroad vs MBA in India - Which is better?
MBA is undoubtedly the most popular and sought-after course by students across the world because it is more of an investment rather than an education. Theoretically, business school is about gaining new skills and insights into business, meeting new colleagues, and learning the intangibles of becoming a manager. However, the dilemma most students face is whether to opt for an MBA degree from India or abroad. Let’s check various aspects that are included while choosing an Indian MBA vs Foreign MBA degree.
|Indian MBA||Foreign MBA|
|Entrance Exams||CAT, IIFT, NMAT by GMAC, SNAP, XAT, GMAT||GMAT, GRE|
|Average Fees||INR 7.5 lakh – INR 25 lakh||INR 20 lakh – INR 70 lakh|
|Salary Package (Approx)||INR 18 – INR 19 lakh||INR 45 lakh|
|Work Experience required||No work experience necessary||2-3 years|
Exposure and Global Outlook
B-Schools have the most significant facets that are diversity, alumni connection, brand reorganization, global exposure, and strong industry connections. Most classmates would also have 3-4 years of work experience. They come from a variety of backgrounds like finance, high-tech, marketing, poetry, television, films, and other fields. You also get to analyze and look at problems from different perspectives. Apart from that studying MBA also gives you exposure to new cultures, languages, and also helps you become independent and make effective decisions in uncertain situations.
Being a highly interactive subject, learning in an MBA degree is influenced by peers and classmates. Business is all about learning how to sustain and grow in every season and situation. In the Indian MBA vs Foreign MBA debate, studying abroad will give you an edge when it comes to exposure and global outlook.
Cost of Study – Indian MBA Vs Foreign MBA
The cost of studying is usually the deciding factor for many students because of the extra expenses incurred abroad. Obtaining an MBA degree in India is less expensive than in countries such as the United States, Canada, and the United Kingdom. An MBA in India may cost between INR 7.5 and INR 25 lakhs, but an MBA overseas can cost between INR 67.17 lakhs and INR 1.04 crore. The one-year programs would cost slightly less in the range of $55,000 to $80,000. In addition, living expenditures in foreign countries will be much greater than in India. This is when school loans come in handy. It is critical that you thoroughly evaluate the return on investment (ROI) and select an MBA college that is best suited to your needs.
Entrance Exams for MBA
The Common Admission Test, or CAT, is a popular MBA entrance exam in India. Many of India’s top business colleges, including the prestigious IIMs, recognize CAT ratings. Other common entrance exams, such as SNAP, XAT, NMAT by GMAC, and IIFT, are taken by a large number of students each year in addition to CAT with the aim of studying MBA and PGDM programs at the best b-schools in India. On the other hand, candidates seeking admission to an MBA program at a foreign university abroad, must take the GRE and/or GMAT, which are administered on a rolling basis and enable aspirants to choose an exam date that is convenient for them.
Work Experience for Indian MBA vs Foreign MBA
In comparison to most MBA universities abroad, many Indian B-schools admit students with little or no job experience. While many b-schools in India, such as ISB Hyderabad, IIM Ahmedabad, IIM Bangalore, XLRI, FMS, and others, admit many candidates with relevant work experience, not all universities and colleges follow this policy. Universities in the United States, on the other hand, favor candidates with at least 2-4 years of work experience. Similarly, top Canadian universities favor applicants who have worked for at least two years. Work experience of at least two years is needed to study in Australia, and the same is true in any European country. As a result, depending on what stage of life you are in, you can choose whether to pursue an MBA in India or abroad.
MBA Course Structure for Indian MBA vs Foreign MBA
Let us try to understand the course structure of MBA courses in India and abroad in order to better understand the differences between Indian MBA vs Foreign MBA. The MBA course curriculum in other countries takes a more realistic approach, with students being given case studies of different business organizations to study, which make the students understand how to put what they have learned in theory into practice. In comparison to the majority of MBA programs in India, which are still more focused on the theoretical aspects, this is an interesting and engaging process.
Indian MBA vs Foreign MBA: Placements
The placements offered by Indian institutions are easily available as compared to universities abroad. Even though the universities overseas assist students in their job hunt, finding a job that matches your degree might be a little difficult. For securing your place at a deserving position abroad, you might have to struggle and consider lower positions, to begin with. These little steps will further add to your experience. Despite the location of your studies, you can enhance your soft skills and hard skills to easily be hired during placements.
Indian MBA vs Foreign MBA: Salary
Apart from the university you choose, the most important factor can severely depend on the position, skillset, extra courses you have completed, etc. However, an average salary for a student who has completed an MBA from India ranges from INR 23 lakhs-25 lakhs. On the other hand, completing your MBA from renowned universities abroad can get you a salary of INR 78 lakhs.
MBA Colleges in India vs Mid-level MBA Colleges Abroad
This is a totally different premise from the previous one. And the response is straightforward: if you can afford it, an MBA from a mid-level university abroad is preferable to an MBA from a private institute in India. Simply put, the investment yields a higher return. In reality, some international universities offer far more affordable options with better or higher returns on investment. For example, an MBA from Germany or countries like Estonia, Baltia, and more will cost you less and give you the added benefit of studying abroad, as well as a better return on investment in terms of salary and placements. Many Western European countries are in a similar situation
Indian MBA vs Foreign MBA: Pros and Cons at a Glance
|Pros of MBA in India||Cons of MBA in India|
Work experience criteria
|Poor average Salary after MBA
Courses available are limited and restricted as well
|Pros of MBA Abroad||Cons of MBA Abroad|
|Good average Salary after MBA
A plethora of course options available
|No job or placement guarantee
Cost factor Work experience criteria
Type of MBA in India vs Abroad
|Types of MBA in India||Types of MBA abroad|
|Full-time MBA||Full-time MBA|
|1-Year MBA||Executive MBA|
|Executive MBA||Part-time MBA|
|Part-time MBA||Dual MBA|
|Distance/ Online MBA||Distance/ Online MBA|
In India, management is one of the major fields chosen by undergraduates and graduates to pursue higher education. A foreign MBA is even more desirable to a great majority of Indian students and professionals. After all, a master’s degree in business administration from a foreign business school can really do a lot of great things for you as it is highly valued in India.
Obtaining an MBA degree in India is less expensive than in countries such as the United States, Canada, and the United Kingdom. An MBA in India may cost between INR 7.5 and INR 25 lakhs, but an MBA overseas can cost between INR 67.17 lakhs and INR 1.04 crore.
The answer to this question is simple- if you can afford to do MBA from abroad, from a mid-level university, it is all the way better than doing MBA from a private institute or university in India. Simply put, the return on investment is better.
Here is the list of the top 10 most popular countries for pursuing an MBA abroad:
1. United States
2. United Kingdom
6. New Zealand
Of course, they are! The MBAs of the best institutes in India are very much valid abroad. In fact, few institutes like IIM Ahmedabad, IIM Bangalore, ISB Hyderabad, and more are internationally recognized as being among the top 100 institutes in the world to do an MBA. Their degree is not only valid but highly regarded and appreciated in countries like the United States, United Kingdom, Canada, and more.
Salary can vary from organization to organization. Also, there are other factors like the university, state, economy of the country, and other economic and political factors that play an important role. But the starting package after doing MBA from a decent university or college is around Rs 2,50,000 to Rs. 3,00,000 in India.
The cheapest country to study MBA: