MBA is the most coveted degree worldwide preferred by students not only from business background but increasingly from engineering, social science, physics, natural science, etc. It is the ideal choice for students who wish to get to the top management position and are enthusiastic about working in corporate offices and attending boardroom meetings. The enrollment of international students in global business schools has increased to about 35% with India being the 2nd most represented country. An MBA abroad gives you direct access to be a part of one of the Fortune 500 companies while opportunities after graduating from top B-schools in India do not lag much behind.
Have you figured out is it better to do MBA in India or abroad? If you are not sure about your decision yet, read this guide to know about the difference between MBA in India and abroad and MBA from India or abroad which is better.
Suggested : Know About the MBA Fees in Australia
Global Outlook of MBA in India vs Abroad
One of the most significant features of MBA in India vs MBA abroad is the culture and lifestyle that it offers. The global outlook of an MBA India vs abroad has been one of the reasons behind the popularity of this course.
- An MBA degree has a very positive impact on the personal growth of an individual and contributes a lot to overall personality development, leadership skills, gaining confidence, becoming independent and a lot more.
- Other benefits of the MBA program are that it is highly interactive and helps you gain experience from sharing your views and thoughts.
- By enrolling in an MBA abroad, you will also learn about different languages and experiences of students.
- There will be students in your class with a lot of work experience and those from a variety of academic backgrounds who will help you get a lot of knowledge outside textbooks.
Suggested:Best countries to study MBA abroad
Entrance Exam Requirements for MBA in India vs Abroad
The choice of entrance exam primarily depends on where you are planning to take admission: Indian MBA vs foreign MBA.
- Starting with the entrance exam for MBA abroad vs MBA in India, the most common entrance exam for pursuing MBA in India is the Common Admission Test or CAT. Some universities also conduct a separate entrance test such as XAT, NMAT, IIFT, SNAP, etc. Not only MBA, these entrance exams also help you to get admission into PG Diploma in Management.
- Followed by clearing the entrance exam, you will also have to appear for a group discussion round and will be later invited for a personal interview.
- Just like CAT for admission to B-schools in India, Graduate Management Admission Test (GMAT) is taken to get admission to MBA abroad. This is a major difference between MBA in India and abroad admission requirement. Universities abroad also accept GRE scores in place of GMAT.
- GMAT is much more flexible than CAT as it is conducted on a rolling basis throughout the year and allows students to appear for the exam as per their preference. At the same time, if you have not made up your mind whether is it better to do an MBA in India or abroad, you can use your GMAT scores for admission to certain B-schools.
Work Experience Requirements for MBA in India vs Abroad
The requirements related to work experience for admission to MBA in India vs abroad are quite different. You will have several options for applying to Indian B-schools without any prior work experience mainly based on your academic records and entrance test scores. If you are applying to IIMs, ISB Hyderabad, XLRI, etc. with highly competitive class profiles then work experience will definitely add a lot of value to your application.
When you are aiming for B-schools abroad, it is best to apply with 2-3 years professional work experience to get into top universities. You will find options for an MBA without work experience but sometimes it is necessary to assess your level of preparedness, and this is one of the major differences between MBA abroad vs India.
MBA in India vs Abroad: Course Structure
The difference between MBA in India and abroad cannot be ignored while comparing which is better MBA in India or abroad. Take a look at the course structure of MBA in India vs abroad:
Basis of Comparison
MBA in India
Full-time, part-time, online
Finance, Marketing, HR, Entrepreneurship, International Business, Supply Chain, Healthcare, etc.
Finance, Marketing, HR, Entrepreneurship, Data Analytics, Digital Marketing, Consulting, Information Systems, etc.
Focuses on the theoretical aspect.
Focuses on the theoretical aspect along with practical training and exposure.
Placements after MBA in India vs Abroad
Is MBA better in India or abroad? Placements and salary prospects matter a lot in deciding MBA in India vs abroad. There is a difference between how placements are offered to MBA students in India vs abroad.
- You will find it easier to land jobs after graduating from Indian B-schools and with an excellent academic profile you will have several job opportunities waiting for you.
- The general process for campus placement in Indian B-schools is that companies interview prospective candidates and send job offers to suitable ones.
- The challenge for getting jobs after completing an MBA abroad is that you cannot simply expect to get a job offer, you will have to focus a lot on networking, enhancing your skills, taking an extra course, all while you are studying and go the extra mile to find a suitable job.
Suggested:Popular MBA Scholarships Abroad
So if you ask, is MBA better in India or abroad when it comes to placements, you will find it easier in India.
Salary after MBA in India vs Abroad
Depending on your skills, specialization, academic credentials, experience and how you perform in the interview and selection rounds, your salaries after MBA from India or abroad which is better for you will be as follows:
- You can find jobs that pay you 15,00,000-20,00,000 INR after completing MBA in India.
- If you are hired for entry level jobs, you will be paid around 8,00,000-10,00,000 INR initially.
- Graduates from IIMs can expect jobs that pay 20,00,000-30,00,000 INR.
- Job offers after MBA abroad have much higher payouts compared to India.
- Graduates from globally renowned universities can get jobs with salaries as high as 75,00,000 INR.
- Even graduates from other universities can get salary packages of 30,00,000-50,00,000 INR.
Suggested:Difference Between MS and MBA
Cost of Studying MBA in India vs Abroad
While comparing MBA in India vs abroad, at one point you will definitely ask yourself which is better MBA in India or abroad in terms of costs? Let us compare the cost of studying Indian MBA vs foreign MBA:
When it comes to the tuition fees for MBA in India vs abroad, there is a huge difference. Take a look:
- An MBA in India will cost somewhere around 7,50,000-25,00,000 INR.
- On the other hand, if you are planning to pursue an MBA abroad from countries like USA, UK, Canada or Australia, the degree will cost you 20,00,000-75,00,000 INR.
- MBA in USA is one of the costliest and the tuition fee for some of the top universities can even go up to 1,20,00,000-1,50,00,000 INR.
- MBA universities in the UK mostly offer one-year MBA programs which are comparatively less expensive for students.
Cost of Living
While considering the cost of studying Indian MBA vs foreign MBA, you will also have to account for living expenses.
- The average living expenses for a student in India is around 20,000-30,000 INR per month.
- When you are looking at the monthly living expenses for studying abroad, you will have to keep aside at least 50,000-70,000 INR per month.
Suggested:Cost of MBA in Europe
Top MBA Colleges for MBA in India vs Abroad
Is it better to study MBA in India or abroad? To answer this question, it is important to look at the top MBA colleges in India vs abroad and see how they perform in MBA rankings.
Take a look at the top 10 universities in the latest QS Global MBA rankings and see whether is it better to study MBA in India or abroad:
Stanford Graduate School of Business, USA
Harvard Business School, USA
Wharton School of Business, USA
Sloan School of Management, USA
Columbia Business School, USA
Here is a table with top 5 universities for MBA from India or abroad:
Suggested:Top 10 B-Schools in the World
Pros and Cons of MBA in India vs Abroad
To sum up the entire discussion on MBA India vs abroad, let us glance through the pros and cons of MBA from India or abroad:
MBA in India Pros:
- Affordable tuition fees compared to universities abroad.
- You can get admission easily without work experience.
- Familiar environment and hence easier to adjust.
- Process of applying and getting jobs is much easier.
MBA in India Cons:
- Average salary after MBA is not up to the mark for all graduates. Top job offers only go to a few selected students.
- Choice of specializations are limited.
- Compared to the cost of MBA in India, ROI is uncertain for most students.
- MBA in India still lacks in terms of practical exposure, applied learning and skill development.
MBA Abroad Pros:
- Higher average salary than in India.
- Scope of settling abroad.
- Diverse environment
- Global exposure
- Wide range of specializations are available.
MBA Abroad Cons:
- You may find it difficult to adapt to the culture and environment abroad.
- Work experience is an essential factor for studying MBA abroad.
- The cost of an MBA abroad is up to twice or thrice more than that in India.
- Admission process is lengthy and requires extensive paperwork.
Simply put, there is no ideal destination for pursuing an MBA abroad vs India. It depends on how much effort you put to make the best out of the opportunities available before you. Yes, of course there are factors that will affect your choice on MBA abroad vs MBA in India; most importantly the cost difference which is huge. But apart from that after weighing various factors, if not top universities some middle level B-schools abroad offer far better opportunities and ROI than India which makes MBA abroad more appropriate than India. Before making up your mind, connect with Yocket Professionals and evaluate your chances of getting in and where it will lead you in the future.
Frequently Asked Questions about MBA in India or Abroad
Ques. Is it better to do MBA in India or abroad?
Ans. If affordability is not a factor, it is better to do MBA abroad even if it is at a mid-ranked university even when simply compared on the basis of ROI.
Ques. Which country abroad is best for MBA?
Ans. Starting from USA, UK, Australia, Singapore, Canada, Germany all happen to be the best countries for MBA abroad.
Ques. Is an MBA abroad valued in India?
Ans. Yes, an MBA abroad is definitely valued in India especially by your employers. It will provide you access to better job opportunities and make your CV stand out from the others. An MBA abroad combined with some work experience will be of greater value.
Ques. Is an MBA from India valid abroad?
Ans. Yes, definitely an MBA from India is valid abroad as long as it is completed from an accredited institution.
Ques. How many Indian students go abroad to pursue MBA?
Ans. Around 250,000-300,000 Indian students go abroad to pursue MBA every year.