An MBA degree is always considered as a lucrative career option. A full-time classroom-based MBA offers an immersive experience along with an accelerated career boost that other forms of learning can hardly match.One dilemma that has been faced by a lot of MBA aspirants and has left them perplexed is the choice between pursuing MBA at a B-School in India and doing MBA from abroad.
On the one hand, you have the comfort of living and studying in your native country.On the other, the attraction of a foreign degree, global exposure, and excellent research opportunities is equally good. As we can see that there are pros and cons of each, therefore, a comparison between the two will help you in taking the right decision. The relevant factors that should be considered in this case are the cost of education, quality of education, job market, living costs, etc.
Once the aspirants zeroes on going abroad to pursue MBA, the next big question in their mind, which country is best for MBA? In MBA abroad, the kind of university and MBA program you attend also has connotations related to it asit help open doors based on the university’s reputation. Hence, it is important to choose the place to study wisely before applying. It is not easy to determine best country for MBA as there are various factors which need to be considered. Thus, in this article, we will inform you about 5 best countries in the world to study MBA.
United States of America
An MBA in USA is more practical, applied, contemporary and progressive to meet the needs of the society and the students. After completing an MBA in USA, a student can add value to the organizations they join and understand how to incorporate real-time economic changes into their business strategies. The courses in an MBA in USA follow a systematic approach which emphasizes how a leader approaches problems and finds solutions in a unique and comprehensive way.
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The MBA in USA also helps international students be more competitive in the job market across the world. Tuition fees and other expenses can vary significantly from university to university. The main body concerned with the accreditation of US academic programmes in business administration and management is the Association of Advanced Collegiate Schools of Business (AACSB) and the International Association for Management Education.It is mandatory for the applicants to clear GMAT and English proficiency tests like TOEFL or IELTS.Pursuing an MBA in the USA can prove to be a costly affair.
It can cost anywhere between INR 60 lakhs to 1 crore or more. However, with enormous post-study opportunities and great learning experience in one of the top MBA colleges in the world, it is worth to invest.MBA graduates can stay back in the USA for 60 days (2 months) after their graduation is complete.
An MBA in UK provides a high degree of sophistication, a matchless charm, and above all, quality of education that is backed by centuries of tradition. The United Kingdom is just the right place to give your career that global edge. One major advantage of pursuing an MBA in UK is its duration; which is one year as compared to the two years in other parts of the world. Also, unlike those in other countries, most UK universities recognize the 3 year bachelor’s degree. The main advantages of studying an MBA in UK are include an internationally recognized high standard of education, intensively studied and achieved over a 12 month period, excellent value for money and an international outlook in fundamentals. An MBA in UK therefore represents an unrivalled opportunity to obtain not only the skills necessary for a successful professional career but also an insight and contacts with the huge European market and business environment.
The fact that the UK has a strong Indian population base is what makes this country an attractive destination for Indian students, as students traveling from India find it a lot more comforting to be around people with a similar background.Pursuing MBA from any good university can cost anywhere between INR 40 to 65 lakhs.MBA graduates can stay back up to a period of 2 years in the UK after completing their degree.
If you are one of those who seek a high quality of life above anything else, an MBA in Canada is the place for you. It has been consistently ranked by the United Nations (UN) as the one of the best countries in the world to live in. Courses for an MBA in Canada vary in duration from 10 months to over 2 years. These MBA programs fall within three categories which include the generalized, specialized, and combined streams. To qualify for an MBA in Canada, the applicant should possess a 4-year undergraduate degree, GMAT score, work experience, and for international applicants whose primary language of education is not English, an English proficiency test like IELTS or similar would be essential. Each individual school establishes the specifics of the admissions criteria as well as any other prerequisites. Tuition fees for international students looking to pursue an MBA in Canada are reasonably low in comparison to other countries.
Canada is one of the most sought-after countries as MBA abroad for Indian students. However, studying in one of the best countries to study MBA comes at a cost. It can cost anywhere between INR 27 lakhs to 60 lakhs.Canada is considered one of the best countries for pursuing an MBA abroad as it offers excellent opportunities to international students. For a two-year MBA programme, graduates can stay up to 3 years after completing their degree.
MBA in Australia is one of the most popular courses amongst international students who wish to study in Australia with options ranging in Banking and Finance, Professional accounting, Personnel management and many more. MBA in Australia programs include a robust course curriculum, internships, practical assignments and placements that provide students with practical experience. The general entry requirement is a Bachelor Degree plus at least two years of work experience after the completion of graduation. An MBA in Australia is also offered in some universities without a prior work experience. An MBA in Australia also provides the students the edge of Dual Degrees like MBA + Masters of Information Systems, Masters of Information Technology + MBA, Master of Commerce + Masters of Information Technology and so on. Most of the MBA courses in Australian Universities are recognized & accredited by: Association to Advance Collegiate Schools of Business (AACSB); Leadership Management Australia (LMA); Australian Human Resource Institute; Finance Brokers Association of Australia (FBAA); CPA Australia; Australian Small Scale Offerings Board (ASSOB).
MBA colleges in Australia offer specialized research training and it is mandatory for applicants to clear exams like GMAT, IELTS/TOEFL. The cut-off scores would be 550+ for GMAT, for IELTS 6 overall, and TOEFL would be above 90.Australian colleges have two intake seasons in a year. One intake is in September and the other in January. Indian students prefer September intake for Australia. The MBA programs in Australia cost anywhere between INR 16 to 50 lakhs. If the MBA program is of two years duration, then international students can stay back from 15 to 24 months (1.25 to 2 years) in Australia.
German MBA degrees are becoming more popular and competitive. Many of them have lowest acceptance rate in Europe. Much of the demand comes from foreign students. There are few countries whose MBA universities stand out from the crowd. German universities are by no doubt included in that list.An MBA degree in Germany will give you an in-depth insight on numerous things of critical importance in doing business and managing a business.Moreover, MBA courses in Germany are highly research-oriented study programs so you’ll get exposed to different real-life experiences where your critical thinking and decision-making skills will improve and as a final result, you’ll become an employable graduate.It is not hard to see why choosing German universities for getting an MBA degree is an excellent choice
Other indicators of this popularity growth include the affordable cost of studying and living in Germany, study experience, funding opportunities, and the German language.Compared to popular MBA like those in the UK and US, the cost is comparatively lower. For example, an MBA course at the University of Oxford costs over $74,000 whereas at the MBA at Frankfurt School of Finance & Management costs $42,000.
German MBA schools are highly research-based universities aiming to prepare you with the skills and knowledge required in the job market. Globally-recognized companies like Adidas, Amazon, Bosch, Google, the European Central Bank, and automotive companies like Daimler, Porsche, and Volkswagen. And all these companies hire MBA graduates from local universities.If the MBA program is of two years duration, then international students can stay back from 18 months (1.5 years) in Germany.