An MBA degree can open an array of opportunities for you, which is why MBA abroad for Indian students is always a good idea. But every MBA aspirant has to deal with questions like – Which is the best country for MBA for Indian students? Which are the best MBA courses abroad?
International students can find high-quality MBA degrees in countries like the USA, the UK, Canada, Germany, Australia, Singapore, and more. But in order to decide which country is the best fit for you, you should consider factors like the kind of university, MBA program, cost of living, the standard of living, and job prospects. If you’re a student from India and would like to study abroad, here are some things you need to take into account before taking the plunge.
It is not compulsory to have an undergraduate degree in business or management to apply for an MBA abroad for Indian students.
But there are a few requirements you need to meet before landing an MBA from abroad:
- Work experience (school dependent)
- Competitive GMAT Exam Score
- English language proficiency score i.e. TOEFL
- MBA essays (as required by business school)
- Recommendation letters from previous academic institutions and places of work
The admission committee of your prospective business school will analyse these documents and accordingly, convey whether or not you are invited to the business school for a face-to-face interview. Online interviews are also commonly held.
For all programs of MBA abroad for Indian students, a student visa is mandatory. The United States is one of the most popular destinations for MBA students, as almost half of the top business schools are located in the US. In order to pursue a full-time MBA program in the US, you will need an F1 visa. Similarly, for students interested in studying in the UK, a Tier 4 (General) student visa would be required. Every country has its own visa requirements, so make sure you go through them before finalizing your preferred country for MBA.
Which Is The Best Country For MBA For Indian Students?
Although there is no particular country considered the best for an MBA, we have compiled a list of countries offering excellent MBA courses for students like you to purse. Read along to see the criteria and admission details of every country.
MBA In The USA
The United States of America (USA) is one of the best, if not, the best country to pursue an MBA degree. There are countless instances of Indians who have gone on to do great things in life, because of an MBA degree from America. Let’s take a look at some of them.
Ratan Tata (Chairman, Tata Son), Ashish Nanda (Director, IIM Ahmedabad), and Jayant Sinha (Minister of State) have all graduated from Harvard Business School. Satya Nadella (CEO, Microsoft) and Dilip Sankarreddy (CEO, QuietGrowth) are alumni of the University of Chicago Booth School of Business. Sundar Pichai (CEO, Google), Sachin Pilot (Indian Politician), and Anil Ambani (Chairman, Reliance Group) were once students at Wharton Business School.
The USA offers students strong infrastructural support, internship opportunities, and exposure to the latest content and technology developments besides practical training through projects. Exposure to the business environment during internships in top companies helps students become successful future entrepreneurs and business executives.
A stark difference between an MBA in the USA and an MBA anywhere else in the world is – networking. An MBA in the USA is all about expanding your network and getting to know the right people. It is this skill that helps students become successful in their careers.
Cost Of An MBA In The USA
Indian students will find it expensive to pursue an MBA from abroad as in the case of the US, as it costs around INR 60 lakhs to 1 crore. However, there are countless post-study opportunities for students who graduate from top universities in the USA. So, this validates the high cost of investment for an MBA abroad for Indian students. Moreover, students can apply for scholarships that are provided by universities or private organisations.
Top-Ranked Business Schools In The USA
- Harvard Business School – Harvard University
- Stanford Graduate School of Business – Stanford University
- Booth School of Business – University of Chicago (UChicago)
- Wharton School of Business – University of Pennsylvania (UPENN)
- Kellogg School of Management – Northwestern University
MBA In The United Kingdom
The UK has always been a popular higher education destination for international students. One of the most popular student cities in the UK is London. It is the leading finance and banking centre in the UK and offers students excellent opportunities in the services industry. This fact mirrors the rigorous academic approach of many top MBA universities in the UK, as UK b-schools churn out highly employed graduates fit for top positions at the most powerful companies in the world. MBA abroad for Indian students is a realistic possibility in the UK, thanks to the country’s strong Indian population base. This helps Indian students to comfortably transition into the UK.
Cost Of An MBA In The UK
The cost for Indian students to pursue an MBA in the UK is around INR 40 to 65 lakhs. The cost of living is the most in London, while other UK cities like Birmingham, Edinburgh, and Manchester are less expensive. You can save a lot of money on your student accommodation in the UK if you book it through UniAcco.
Top-Ranked Business Schools In The UK
- London Business School (LBS)
- Said Business School – University of Oxford (OU)
- Cambridge Judge Business School – University of Cambridge
- Imperial College London
- Warwick Business School – University of Warwick
- Manchester Business School – University of Manchester
- Strathclyde Business School – University of Strathclyde
MBA In Canada
A complete guide to MBA abroad in Canada for Indian students is incomplete without mentioning Canada. This country is a hot favourite among Indian students because of its world-class universities and ample job opportunities. The Canadian economy is thriving in industries like manufacturing, oil and gas, agriculture, mining, and forestry, which allows Indian students to grab well-paying jobs. Canada is also known for its easy availability of good jobs and liberal immigration laws. For a two-year MBA programme, graduates can stay up to 3 years after completing their degree.
Cost Of An MBA In Canada
Indian students who wish to do their MBA abroad, often target Canada as their preferred study destination, and it’s not surprising to see why. Studying MBA courses abroad at one of the best business schools in Canada will cost you anywhere between INR 27 lakhs to 60 lakhs.
Top-Ranked Business Schools In Canada
- Schulich School Of Business – York University
- Rotman School of Management – University of Toronto
- Sauder Business School – University of British Columbia (UBC)
- Queen’s School Of Business – Queen’s University
- UNB Saint John Faculty of Business – University of New Brunswick
- Desautels Faculty of Management – McGill University
- Ivey Business School – Western University
MBA In Australia
Australia is yet another study destination that offers Indian students affordable education opportunities with no compromise on quality. Various factors like the weather being similar to India, laid-back student life, vibrant culture, and a strong Indian community make Australia an ideal destination for Indians to pursue their MBA. The business schools in Australia specialize in research training and have mandatory requirements for applicants to clear exams like GMAT, IELTS/TOEFL. Students will typically require around 550+ for GMAT, 6 overall in IELTS, and above 90 in TOEFL.
Cost Of An MBA In Australia
An MBA course in Australia generally runs for about 2 years. Indian students interested in pursuing their MBA in Australia can expect to shell out anywhere from INR 16 to 50 lakhs. Apart from tuition fees, students also need to budget for their accommodation expenses. This can work up to around INR 8 to 10 lakhs.
Top-Ranked Business Schools In Australia
- Melbourne Business School – University of Melbourne (Unimelb)
- UNSW Business School – University of New South Wales (UNSW)
- Sydney Business School – University of Wollongong (SBS)
- Macquarie Graduate School of Management – Macquarie University
- Faculty of Business and Economics – Monash University
- QUT Business School – Queensland University of Technology
- Curtin Business School – Curtin University
MBA in Germany
All public universities in Germany are free of cost to international students as they are funded by the government. This makes Germany the cheapest country to study MBA abroad for Indian students. Moreover, Germany is home to some of the best MBA universities in the world. Out of all the countries in the world, Germany is one of the leading five destinations for students from the Asia Pacific region. A stable economy, high standard of living, low cost of education, high quality of education, numerous post-study work schemes, and good job prospects in Germany are just some of the reasons why Indian students love Germany.
Cost Of An MBA In Germany
As mentioned earlier, international students can study for free at public universities in Germany. However, private universities in Germany cost around INR 9.03 lakhs annually. Since students are expected to take care of their accommodation and other living expenses, it is advisable that students have a budget of around INR 7 lakhs per year for the same.
Top-Ranked Business Schools In Germany
- EU Business School, Munich
- Munich Business School (MBS)
- Frankfurt School of Finance & Management (FS)
- Technical University of Munich (TUM)
- Reutlingen University
Scholarships And Financial Aid
There’s no denying that studying abroad can be an expensive affair but with the number of scholarships available today, international students can greatly minimise their financial burden of studying abroad.
Broadly speaking, there are two kinds of MBA scholarships –
- University-funded scholarships
- Privately funded scholarships
These scholarships are offered on either a merit-based system or a needs-based system.
Merit scholarships are given to students who have performed extremely well academically or have achieved an excellent score on the GMAT. The UniAcco Fly High Scholarship is one such merit-based scholarship that is given to students who wish to pursue higher education abroad.
Needs-based scholarships, on the other hand, are given to those who aren’t able to pay for their degree studies without external help. This is why there are many MBA scholarships offered to students from under-represented backgrounds.
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