Remember when you were younger and your oldest cousins travelled abroad to pursue an MBA? You probably decided back then that you too would pursue higher education abroad. But now that you are all grown up, you are probably unsure about MBA in Foreign Vs MBA in India. Don’t worry, we’re here to help you! Since an MBA is a big investment, in terms of your money and your time, we will highlight the main differences between an MBA in India and abroad.
Entrance Tests | MBA in Foreign Vs MBA in India
The most popular entrance test for an MBA in India is the Common Admission Test (CAT). It is a test that challenges a candidate’s verbal, logical and quantitative abilities. Many prestigious Indian B-schools like the IIMs accept CAT scores. Candidates who have cleared the cutoff score are invited to take part in a Group Discussion and Personal Interview. Other common entrance tests for an MBA in India are SNAP, XAT, NMAT by GMAC and IIFT. However, if you have plans to study abroad then there are different entrance tests for that. Candidates are required to take the GRE or GMAT which are conducted on a rolling basis and gives an aspirant a choice to pick the exam date as per his/her convenience.
Cost Of MBA | MBA in Foreign Vs MBA in India
One of the main factors of deciding where to do an MBA is cost. Pursuing an MBA in India is relatively cheaper as compared to countries like the USA, UK, Canada and Australia. The fees for an MBA in India ranges between Rs. 7.5 lakh – Rs. 25 lakh. Compare this to the cost of fees for an MBA abroad (Rs. 20 lakh – Rs. 70 lakh) and you will realise just how much more affordable an MBA from India is. Moreover, students have to shell out more money on travel and living expenses if they decide to do an MBA abroad. However, job opportunities abroad are aplenty. This is where education loans play an important role. Visit UniCreds to find an education loan that will give you the best return on investment (ROI).
Personal Development | MBA in Foreign Vs MBA in India
Studying in your home country vs studying abroad comes with its own sets of advantages and disadvantages. Students who pursue an MBA abroad get exposed to a new culture, lifestyle and opportunities. This promises tremendous personal development, as students have to fend for themselves. They will also have to learn a new language, interact with other international students, cook their own food, pay their bills and more. There’s also scope for being more independent and confident, which in turn, will broaden your horizons and help in diversifying your thoughts. These are some things an MBA experience in India just won’t give you.
Work Experience | MBA in Foreign Vs MBA in India
Business schools in India do not have strict work experience criteria. Students with little to no work experience are admitted to top Indian business schools like ISB Hyderabad, IIM Ahmedabad, IIM Bangalore. However, business schools abroad prefer selecting students with good amounts of work experience. For instance, top Canadian and US universities favour students with at least 2-3 years of work experience. Australian universities accept students with at least 2 years of experience. Therefore, depending on how many years of work experience you have under your belt, you can decide between MBA from India vs MBA Abroad.
Job Opportunities | MBA in Foreign Vs MBA in India
Indian B-schools have a campus placement process, wherein students can easily get an opportunity to interview with top companies on campus. In fact, students who fare well at top Indian business schools get multiple offers. Such is not the case abroad. The placement process works differently in other countries. The B-school usually does not guarantee a job. Students have to put in efforts and reach out and network with their dream companies in order to land a job.
Salary After MBA
There is a lot of difference between the average annual packages at IIMs, ISB, other top Indian B-schools, and the topmost business schools around the world. IIM-A graduates earn an average of Rs. 25 lakh whereas graduates of Harvard and Wharton can get an average salary of Rs. 78 lakh. Here is a breakdown of all the costs associated with MBA in Foreign Vs MBA in India –
|Parameters||MBA abroad||MBA in India|
|MBA Course Fees||Between Rs. 20 lakh – Rs. 70 lakh.||Between Rs. 7.5 lakh – Rs. 25 lakh.|
|Average Annual Salary||Around Rs. 45 lakh||Around Rs. 18 – Rs. 19 lakh.|
The course structure of MBA Colleges: India v/s Abroad is quite similar although there are some differences. Curriculum of B-schools abroad includes more hands-on learning where students are given case studies of various business entities and are asked to review those. This practical approach to learning helps students understand how to apply principles that they’ve learned theoretically into actual business practice. On the other hand, business schools in India are more focused on the theoretical aspects. That being said, many top Indian B-schools are making changes and introducing new concepts and courses in MBA curriculum.
The destination of your MBA business school will play a major role in deciding your future. Before registering for an exam, do a detailed study of universities abroad and in India and then weigh your options. We hope this blog has solved at least some of your doubts related to Should You Do an MBA in India or Abroad.
We hope you enjoyed reading this blog on The Big Question: MBA in Foreign Vs MBA in India. If you wish to read more blogs like this, here are some blogs that we think you will enjoy reading –
- Top MBA Universities In The UK
- A Complete Guide To MBA Abroad For Indian Students
- The Best Countries For MBA You Need To Check Out
When you’ve decided on a country to study in, you will need to think about your accommodation. UniAcco is a cross border student accommodation platform with high quality accommodations in over 7 countries. Call us on 000 800 040 3523 or simply write to us on email@example.com for assistance with your student accommodation abroad.