MBA in India vs MBA Abroad- What is Better?
By: Ashwini Jain
Tags: Higher Education, Technology, Education, Study Abroad, Students

Pursuing an MBA is one of the most sought-after choices by students, be it immediately after graduation or after some work experience. Being a universally recognized qualification, an MBA offers excellent prospects, both financially and experientially. However, there still lies an uncertainty in whether or not one must aim for an MBA degree from India or abroad. You can read more about the best executive MBA programs in 2020 here. Though one size never fits everyone, this article will help in enumerating the pros and cons of both- MBA in India and an MBA abroad.

Photo by Keren Levand on Unsplash

International MBA courses are high in demand for their potential to help an individual rapidly climb up the corporate ladder. The attractive salary, flexibility, and global recognition are added benefits of pursuing an MBA from an international university.

Read more about why you must consider pursuing an MBA in 2020 here.

The Entrance Examination

The CAT is among the main exams that students need to clear to gain admission in MBA courses in India. Rigorous rounds of group discussion and personal interviews follow the written exam. Other exams for entry into MBA and PGDM courses include XAT, SNAP, NMAT, IIFT, etc. On the other hand, studying abroad requires students to give the GRE and GMAT exams.

The GMAT remains the most widely considered exam from the perspective of business schools globally. Apart from the test, the applicant needs to produce well-written essays and recommendations. Find out how to write a good recommendation letter here. Besides, the organization of the exam in itself is more flexible as a student can appear for it around five times every year. This gives the candidate a greater number of chances to improve his/her score on the test. The applicants shortlisted after the first round further need to participate in an interview round for selection. Know more about MBA entrance exams abroad here.

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A Broader Perspective

Learning at an international university gives a student much-needed exposure to newer ideas, cultures, languages, and lifestyles. A student studying in India will have the advantage of comfort and familiarity with the network and culture. In contrast, a candidate abroad gets the opportunity of interacting with peers from all over the globe. This is immensely valuable, especially for a course like MBA, where practical experience and a more extensive outlook plays a pivotal role in learning. Internationally, a student grows more independent, refined, and confident. The broadened horizon gives him/her the chance to learn about diverse ideas. In addition to these, a degree from a well-reputed international school can be a massive plus on your resume. International institutions take a more hands-on approach, and a student gets to undertake several internships as a part of the training. This practice is less widespread in India.

The Cost

A significant difference in pursuing an MBA from India versus one abroad is the affordability. While an MBA course in India would cost a student between Rs. 7.5 lakhs to Rs. 25 lakhs, it would cost around Rs. 20 lakhs to Rs. 70 lakh for a student in an international university. A student needs to consider and analyze the ROI, i.e., the Return On Investment. Find a list of the best and most affordable international universities here. Besides, the living costs abroad are considerably higher than those in India and can be crucial while assessing the overall expenditure. The annual salary a student can expect after completing an MBA in India lies in the range of Rs. 20 lakhs to Rs. 25 lakhs, as opposed to approximately Rs. 40 lakhs to Rs. 50 lakhs for an international MBA degree. Candidates need to add the cost of living, study material, medical insurance, and transportation to this.

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Previous Work Experience

Most business schools in India do not require the entrants to have prior work experience at the time of admission. However, a few institutions like IIM Bangalore, IIM Ahmedabad, and ISB Hyderabad do have previous experience as a prerequisite for entry. Unlike India, students applying to MBA programs in the US should have, on average, have around 3–5 years of pre-MBA work experience while candidates who apply to the UK and Europe-based programs are expected to have a work experience of 5–6 years. Please note that the minimum work experience requirements vary from one university to another.

Career Goals

Studying in India would steer you clear of any accessory troubles such as visa issues and extra documentation. Pursuing an MBA degree abroad is recommended if you are aiming for a top business school, and you plan to settle abroad after completing the course. The US is one of the most desirable destinations for an MBA course. An MBA degree from India cannot compete with a degree from an international institute and wouldn’t be of much help if you plan to continue your work abroad.

Program Structure

There is a marked difference in the course structure in India and universities abroad. The Indian curriculum still leans heavily on theoretical learning with only minimal practical skills, though it does show signs of improvement these days. In comparison, business schools abroad take a more experiential approach. Students are involved in case studies and need to write reviews early on, thus honing their skills in these aspects. The course composition is more application based and, coupled with a multicultural environment, proves to be of tremendous benefit from the candidate’s point of view.

Employment Opportunities

An MBA degree in India offers more scope when it comes to employment opportunities after the course. Students get to appear for interviews with highly ranked companies on the campus itself. In fact, toppers tend to receive multiple offers from these firms. Contrarily, business schools abroad don’t necessarily guarantee a job after completion of the program. Students need to take efforts of their own to reach out to their dream companies and build a network of contacts. Nevertheless, they are given several opportunities throughout the course to form these connections through work and internships.

Environmental Factors

Admission to an MBA program, both in India and abroad, requires the aspirant to face a competitive atmosphere. Moreover, a student’s social setting does play a role in how well they adjust. It is easier for Indian nationals to adapt to a foreign environment if they belong to an urban background. The added factor of cultural-shock is lesser in this case. Besides, experts warn students not to apply for an international MBA degree for the mere sake of the addition to their resumes. An aspirant must look into the work visa policy before seeking admission at a foreign institution. Students are advised to do their research and carefully weigh the prospects before arriving at a final conclusion.

The Purpose

An international MBA degree from a business school of low credibility is not a noteworthy addition to your CV and is not going to play an influential role in landing you a job. In such cases, admission from an IIT or IIM is a better option as these institutions offer a curriculum on par with the international one. Another important thing to note is that it is always suggested to seek admission to a public university abroad. Experts recommend students to opt for mid-level international universities over a private university in India.

The Present Scenario

The current pandemic situation has certainly impacted students’ plans for international study and has caused many to rethink their choices. Travel has faced a huge setback due to the lockdown, and the already arduous visa application process has grown all the more complex. Moreover, freshers to the course have been forced to start their classes in the online mode. You can read the comparison between an online and offline MBA degree here. The COVID-19 has also adversely affected the employment scenario from a global standpoint, although this may change in the near future. Find a list of the best MBA courses in 2020 here.

Diversity and Exposure

Besides the advantages mentioned earlier, an MBA from an international business school will expose you to higher standards of academics, work experience, and extracurricular activities. The skills you’ll develop will remarkably augment your career goals. You will have peers from multiple backgrounds, and interacting with them will help you gain better learning and more in-depth insights into various industries globally. This is particularly useful while pursuing a course like MBA where practical application plays a crucial role in determining your expertise.

You may want to read more about the comparison of an Indian MBA degree with that of a foreign one here.