Indian MBA vs Foreign MBA

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Indian MBA Vs Foreign MBA

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.

Must Read: Cost of MBA in USA, Cost of MBA in Germany, Cost of MBA in Canada for Indian Students

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.

Must Read: MBA Without Work Experience [Best Options Available]

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.

Must Read: MBA Syllabus: Specialisations, Curriculum & Subjects

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.

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.

Indian MBA vs Foreign MBA: Pros and Cons at a Glance

Pros of MBA in India Cons of MBA in India
Familiar milieu
Job/placement guarantee
Cost Factor
Work experience criteria
Admission 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
Personal criteria
Cost factor Work experience criteria
Admission criteria

Top Colleges for MBA Abroad

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:

Top MBA Colleges  Location  Global MBA Rankings 2021- QS
Stanford Graduate School of Business, Stanford University USA 1
Wharton School of the University of Pennsylvania USA 2
MIT Sloan School of Management USA 3
Harvard Business School, Harvard University USA 4
HEC Paris France  5
INSEAD FranceINSEAD Singapore France and Singapore 6
London Business School UK 7
Columbia Business School, Columbia University USA 8
IE Business School Spain 9
Haas School of Business, University of California, Berkeley USA 10

Also Read: Best MBA Colleges in World 2021, Rankings & More

Top 5 MBA Colleges in USA 

B-school World University Rankings – Full-Time MBA: Global
Stanford Graduate School of Business 1
Penn (Wharton) 2
MIT (Sloan) 3
Harvard Business School 4
Columbia Business School 8

Top 5 MBA Colleges in UK

B-school World University Rankings – Full-Time MBA: Global
London Business School 7
Oxford (Said) 16
Cambridge (Judge) 17
Imperial College Business School 22
Warwick Business School 34

Top 5 MBA Colleges in Canada

B-school World University Rankings – Full-Time MBA: Global
Toronto (Rotman) 45
McGill (Desautels) 59
Queen’s University (Smith) 66
Western University (Ivey) 69
University of York (Schulich) 88

Top 5 MBA Colleges in Australia

B-school World University Rankings – Full-Time MBA: Global
Melbourne Business School 26
Australian Graduate School of Management 41
Monash Business School 73
Macquarie Graduate School of Management 95
UQ Business School 99

Top 5 MBA Colleges in Germany 

B-school World University Rankings – Full Time MBA: Global
Mannheim Business School 39
Frankfurt School of Finance & Management 42
WHU (Otto Beisheim) 58
ESMT Berlin 83
HHL Leipzig Graduate School of Management 141-150

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:

  1. IIMs
  2. Indian School of Business
  3. XLRI Xavier School of Management
  4. IITs
  5. Management Development Institute
  6. SP Jain Institute of Management and Research
  7. Faculty of Management Studies
  8. SVKM`s Narsee Monjee Institute of Management Studies
  9. Indian Institute of Foreign Trade
  10.  National Institutes of Technology (NIT)
  11. Jamnalal Bajaj Institute of Management Studies
  12. Symbiosis Institute of Business Management
  13. ICFAI Foundation for Higher Education
  14. Indian Institute of Foreign Trade (IIFT)
  15. International Management Institute
  16. Xavier Institute of Management (XIMB)
  17. Banaras Hindu University
  18. Amity University Noida
  19. Birla Institute of Management Technology
  20. University of Petroleum and Energy Studies

Must Read: Top MBA Colleges in India 2021 

FAQ

Is a foreign MBA valid in India?

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.

What is the average cost of study of pursuing an Indian MBA vs Foreign MBA?

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.

Is it better to do MBA in India or abroad?

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.

Which country is best for MBA for Indian students?

Here is the list of the top 10 most popular countries for pursuing an MBA abroad:

1. United States
2. United Kingdom
3. Canada
4. Australia
5. Switzerland 
6. New Zealand 
7. Germany
8. France
9. Spain
10. Singapore

Is Indian MBA valid in the USA?

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. 

What is the starting salary after doing MBA in India?

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. 

Which is the cheapest country to study MBA?

1. Norway
2. Taiwan
3. Germany
4. France
5. Mexico
6. India
7. Argentina
8. Poland

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  FacebookLinkedIn, Instagram, and Quora to stay updated with such interesting and intriguing reads.

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