Perks of Studying MBA In India Vs Abroad
The pros and cons of pursuing an MBA in India versus abroad. Will the cost of studying abroad justify the return on investment? Or, will a good school in India help one land a dream job?
Many students believe an MBA to be the next logical step to accelerate their business career and entrepreneurial aspirations. However, when it comes to MBA, aspirants are often faced with certain dilemmas. One such dilemma that has attracted the attention and intrigue of MBA aspirants has been the “MBA in India vs. MBA Abroad”.
The fundamentals of business are taught in every MBA program. Accounting, economics, finance, organizational behaviour, marketing, statistics, and operations form the primary business disciplines and skills and are in the expected repertoire for any MBA. Studying abroad comes with its own set of advantages such as enabling students to get exposure to a new culture and lifestyle, opening up a window of opportunities. Top B-schools ensure learning under accomplished and published academics, sometimes even Nobel Prize winners. Similarly, the pros of pursuing an MBA in India include, along with high-quality education, the opportunity to learn from and interact with industry leaders such as CEOs, MDs, and VPs. Students who plan to pursue MBA in India will be able to develop a greater understanding of whatever is being taught in the context of Indian businesses. While pursuing MBA Abroad students will get global and cross-cultural exposure.
A lot of Indian B-schools accept students with little or no work experience as compared to most of the universities abroad. Only some top colleges of INDIA like IIM-B and ISB Hyderabad prefer a student who has 2-3 years of experience. Some colleges/universities believe that prior work experience is mandatory for MBA as students with work experience bring value to the MBA classroom and also find it easier to grasp the MBA curriculum and share more productive and matured thoughts when it comes to handling projects and work with teams. Therefore, depending on the point of life you are planning to pursue an MBA, the decision to pursue it in India or abroad can be taken.
One major factor that aspirants need to keep in mind while choosing to pursue MBA in India or MBA abroad is ROI. MBA in India can roughly cost anywhere from Rs. 3 lakh - Rs. 25 lakh while an MBA abroad may cost somewhere between Rs. 30 lakh - Rs. 70 lakh on average, of course, depending on the university or college you choose. Also, there is a significant difference between the cost of living in INDIA and Abroad. Due to the relatively moderate fee structure, the ROI (comparison between fee and placement figures) of Indian universities is very good.
Before deciding to study in a particular country, it would be worthwhile making a survey of the job opportunities in and around that can be pursued post-MBA, the various work visa-related procedures involved, the assistance received from the B-school careers team. In short, a survey that would help you figure out what your chances and odds are in securing employment at the end of your MBA journey. The placement process in Indian B-schools is relatively easier as students get an opportunity to interview with top companies on campus. All top management schools in the country have an exemplary track record of getting 100% placement with very good salaries and job roles. The B-Schools have also been quite successful in getting a number of their students placed in organizations that offer international postings. Top sectors in Placement are BFSI, Consulting, E-Commerce, IT, Operations with a variety of roles being offered.
So, while deciding “MBA in India vs. MBA Abroad” keep all the above points in mind and do not forget to consider the impact of COVID – 19.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house
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