MBA is undoubtedly the most popular and sought-after course by students across the world because it is more of an investment rather than 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|
This Blog Includes:
- Exposure and Global Outlook
- Cost of Study – Indian MBA Vs Foreign MBA
- Entrance Exams for MBA
- Work Experience for Indian MBA vs Foreign MBA
- MBA Course Structure in India and Abroad
- Indian MBA Vs Foreign MBA – Salary
- MBA Colleges in India VS Mid-level MBA Colleges Abroad
- Top universities abroad for MBA
- Top colleges in India for MBA
Exposure and Global Outlook
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.
B-universities 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.
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. The tuition fees in universities abroad for an MBA degree costs around from around $90,000 to $1, 40,000 depending upon the university you’re applying to. The one-year programs would cost slightly less in the range of $55,000 to $80,000. The cost of living might increase expenses. India has a cheaper cost of study in the debate between studying an Indian MBA vs Foreign MBA, with the tuition fees ranging from INR 7.5 lakh – 25 lakhs depending on the university/college.
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, recognise 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 programme 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, favour candidates with at least 2-4 years of work experience. Similarly, top Canadian universities favour 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 in India and Abroad
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 organisations 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 programmes in India, which are still more focused on the theoretical aspects, this is an interesting and engaging process.
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, skill set, 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.
Must Read: Best MBA Jobs
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.
Top universities abroad for MBA
The following is a list of the best MBA colleges abroad that provide exceptional academics and training for students. With a variety of opportunities and placements along with a strong alumni network, these universities are the most notable when it comes to business education:
- Stanford Graduate School of Business, Stanford University
- The Wharton School, University of Pennsylvania
- MIT Sloan School of Management, Massachusetts Institute of Technology
- Harvard Business School
- HEC Paris
- INSEAD France
- INSEAD Singapore
- London Business School
- Columbia Business School, Columbia University
- IE Business School
- Haas School of Business, University of California Berkeley
- Booth School of Business, The University of Chicago
- IESE Business School, University of Navarra
- Esade, Ramon Llull University
- The Kellogg School of Management, Northwestern University
- Anderson School of Management, University of California, Los Angeles
- Saïd Business School, University of Oxford
- Cambridge Judge Business School, University of Cambridge
- The Yale School of Management, Yale University
- Stern School of Business, New York University
Top colleges in India for MBA
To avail of the best academics in business, the following is the list of top colleges and universities in India that provide an excellent education at a cheaper price:
- Indian School of Business
- XLRI Xavier School of Management
- 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
Must Read: Top MBA Colleges in India 2021
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.
The answer to this question is simple- if you can afford doing 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 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 in 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 organisation to organisation. Also, there are other factors like the university, state, economy of the country, and other economic and political factors 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 following were the major aspects of differences between an Indian MBA vs Foreign MBA. Deciding where you wish to get your MBA degree is crucial because it is an essential step in the business world. Hope this blog helped you understand the various distinctions clearly. If you have any confusion and need clarity or guidance, our experts at Leverage Edu will help you get admission to your desired university/ college. Join us on Facebook, LinkedIn, Instagram and Quora to stay updated with such interesting and intriguing reads.[faq]