The Master of Business Administration (MBA) is one of the most in-demand postgraduate programmes worldwide. MBA graduates are in high demand today and choosing the appropriate business school is critical to establishing a successful career after graduation. More than education, it may be viewed as an investment since you can expect to be placed in a reputable firm and receive a solid profile with a proper wage package after finishing your MBA. When pursuing an MBA, it is important to consider not only your specialty but also the school of business and location from which you are pursuing it. Therefore, many aspirants are unsure whether they should get an MBA in India or overseas. Both have upsides and downsides, so let’s look at some crucial variables to see how the two degrees compare.
In this blog, we will discuss:
In India, there are several MBA admission exams; however, the Common Admission Test i.e., CAT is the most often used. It’s an exam that puts a candidate’s verbal, logical, and numerical skills to the test. CAT scores are accepted by several renowned Indian B-schools, including the IIMs. Additionally, a huge number of students take other frequent admission tests such as SNAP, XAT, NMAT by GMAC, and IIFT every year goal of pursuing MBA at leading Indian b-schools. Candidates must, however, pass examinations such as the GMAT and GRE to pursue an MBA from a foreign university. These examinations are offered on a recurring basis, allowing candidates to select an exam day that is convenient for them.
Individuals that study for an MBA in some other nations are exposed to a different environment, way of life, and prospects. They will be required to learn a new language, communicate with other foreign students, prepare their own meals, pay their expenses, and other tasks. There’s also room for you to become more self-assured and autonomous, which will help you widen your views and broaden your beliefs. As students must survive for themselves, this offers significant personal growth. These are several things that an MBA in India would not provide.
Cost of Study
One of the factors why many individuals choose to pursue their MBA from India is the expense of an MBA in a foreign land. In comparison to the United States, the United Kingdom, Canada, and Australia, an MBA in India is considerably economical. An MBA in India may cost anything from INR 7.5 to INR 25 lakhs, whereas an MBA internationally can cost from around INR 67.17 lakhs to INR 1.04 crore. This is the point at which students comprehend how much less expensive an MBA from India is. Furthermore, students who want to pursue an MBA overseas must pay extra for travel and living expenses.
Have you taken the GMAT before?
Many Indian B-schools allow students with minimal or no work experience, in contrast to most MBA programmes overseas. Leading Indian business schools such as ISB Hyderabad, IIM Ahmedabad, and IIM Bangalore accept students with little to no job experience. Universities in the United States, on the other hand, prefer individuals who have worked for nearly 2-4 years. Students having at least two years of experience are accepted by Australian institutions. As a result, you may choose between an MBA in India, or an MBA abroad based on how many years of job experience you have.
When compared to foreign universities, Indian institutes provide more employment opportunity. Students can easily obtain an opportunity to interview with prominent firms on campus at Indian B-schools, which has a campus placement procedure. Unfortunately, not all MBA institutions overseas provide students with job opportunities. While some universities may aid students in their career search, neither of them promises a placement. You may have to strive and take inferior jobs to begin with to secure a worthy position abroad. In the long-term, nonetheless, they will gain more knowledge from such roles and steadily improve their profiles.
Besides the institution you pick, the most essential component may be heavily influenced by your job, skillset, additional courses you’ve taken, and so on. However, the average yearly packages at IIMs, ISB, and other top Indian B-schools differ significantly from those at the world’s largest prestigious institutions. Candidates who complete their MBA at peak institutions such as Harvard University or the University of Pennsylvania’s Wharton School can start earning to $1,05,008 (INR 78 lakh) each year, while IIM-A graduates receive an estimate of Rs. 25 lakhs.
The location of your MBA school of business will have a significant impact on your future. Before you enroll for a test, research universities both overseas and in India and assess your possibilities. Taking help of a professional consultant is also a better idea. Hence, connect with Jamboree’s consultant over a phone call or meet them at your nearest center.