- Comparison of MBA in India vs MBA Abroad
- Entrance Exam for MBA
- Personal Growth and Global Outlook while Pursuing MBA
- MBA Fees and Cost of Study
- Work Experience for Pursuing MBA
- MBA Course Structure in India and Abroad
- Placement Opportunities
- Average Salary after MBA
- Top Colleges for MBA in India
- Top MBA Colleges Abroad
MBA in India vs MBA Abroad: MBA is one of the most sought-after courses globally and an MBA degree is also considered as a highly regarded business degree. MBA graduates are in demand today and in order to establish a successful career after an MBA, it is important to choose the right business school. Most Indian MBA candidates/aspirants are often confused between pursuing MBA in India or MBA abroad.
Indian students often choose to study in the United States over other nations. Australia, Canada, the United Kingdom, and Singapore are popular destinations for Indian students seeking MBA programmes. Most MBA programmes in the United States last two years, however MBA programmes in the United Kingdom and Singapore often last just one year.
There is no clear victor in the discussion over whether to pursue an MBA in India or another nation, since the choice ultimately comes down to the individual student's ambitions and willingness to spend more money on education in return for larger potential benefits. All options offer advantages, and if we discuss them thoroughly, you'll be able to determine which one is ideal for you. So let’s take a look at some key factors and see how the two MBA degrees stack up against each other.
Comparison of MBA in India vs MBA Abroad
Here is a detailed comparison of pursuing MBA in India vs MBA abroad to help you make sound decisions that can benefit your career and investment in the long run.
Entrance Exam for MBA
The popular entrance exam for MBA in India is the Common Admission Test (CAT). Many top B-schools in India such as the prestigious IIMs accept CAT scores. The written exam is followed by Group Discussion and Personal Interview. Once the CAT notification is announced, you will be able to check the CAT important dates here. Apart from CAT, there are some other popular entrance exams such as SNAP, XAT, NMAT by GMAC and IIFT that are taken by a large number of students every year with an aim to study MBA and PGDM programmes at the best b-schools in India. Check the complete schedule of MBA entrance exams 2021 academic session here. However on the other hand, for taking admission in an MBA course at a foreign university, candidates need to appear for GRE and GMAT which is conducted on a rolling basis and gives an aspirant a choice to pick the exam date as per his/her convenience.
Personal Growth and Global Outlook while Pursuing 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. This helps in looking at problems from different perspectives. You will get the chance to learn a new language, and interact with other international students. You will also become more independent and confident, and all of this will broaden your horizon and help in diversifying your thoughts. This is something that you won’t really experience while pursuing an MBA in India.
MBA Fees and Cost of Study
This is one major factor that aspirants need to keep in mind while choosing to pursue MBA in India or MBA abroad. Acquiring an MBA degree is comparatively less expensive in India as compared to countries like US, Canada and UK. MBA in India can roughly cost anywhere from Rs. 7.5 lakh - Rs. 25 lakh while an MBA abroad may cost somewhere between Rs. 20 lakh - Rs. 70 lakh on an average, of course, depending on the university or college you are admitted to. Adding to this, the living expenses abroad will also be significantly higher as compared to India. This is where education loans play an important role. It is vital that you carefully assess the return on investment (ROI) and choose your MBA college well in your capacity.
Work Experience for Pursuing MBA
A lot of Indian B-schools accept students with little or no work experience as compared to most universities abroad. Although b-schools in India like ISB Hyderabad, IIM Ahmedabad, IIM Bangalore etc. also offer admissions to many candidates with a good work experience, not all comply with that idea. On the other hand, the US universities prefer candidates to have at least 2-3 years of work experience. Similarly, top Canadian Universities prefer candidates with a minimum of 2-3 years of work experience. To study in Australia, the average work experience that is required is 2 years. 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.
MBA Course Structure in India and Abroad
While highlighting the course structure of MBA courses in India and abroad, one can see many differences and similarities both. The MBA course curriculum abroad has a more practical approach where students are given case studies of various business entities and are asked to review those. This helps the student understand how to apply something that he/she has learnt theoretically into actual business practice. This is an interesting and engaging method as compared to the majority MBA programs in India, which are still more focused on the theoretical aspects. With time, however, at least the top b-schools in India are making changes and introducing new concepts and courses in MBA curriculum.
The placement process in Indian B-schools is relatively easier as students get an opportunity to interview with top companies on campus. In fact, the toppers at some of these B-schools get multiple offers. But when it comes to the placement process abroad, things work differently. The school usually does not guarantee a job. Students have to put in efforts and reach out and network with their dream companies in order to land a cushy job.
Average Salary after MBA
When it comes to the average salary, there is a lot of difference between the average annual packages at IIMs, ISB, other top Indian B-schools, and the topmost business schools abroad. Pass outs from ISB draw an average salary of Rs. 23 lakhs while those from IIM-A can expect to get around Rs. 25 lakh. The alumni of some of the most prestigious and reputed universities abroad such as Harvard and Wharton can get an average salary of Rs. 78 lakh.
MBA in India
CAT, IIFT, NMAT by GMAC, SNAP, XAT, GMAT
Between Rs. 7.5 lakh - Rs. 25 lakh
Between Rs. 20 lakh - Rs. 70 lakh
Average Annual Salary
Approx Rs. 18 - Rs. 19 lakh
Approx Rs. 45 lakh
Note:Above figures are an estimate. They may vary from college to college and basis an individual's performance in academics.
Top Colleges for MBA in India
Here are some of the best colleges known for their MBA courses in India.
Top MBA Colleges Abroad
Check country-wise list of top MBA College to study abroad
MBA Colleges in USA
MBA Colleges in the UK
MBA Colleges in the Canada
MBA Colleges in Germany
MBA Colleges in Australia
MBA Colleges in New Zealand
To conclude with, where to pursue MBA from is a pertinent question and something that will decide your future. So, before enrolling for any examinations, take a look at the universities abroad, compare them with the Indian B-schools and then weigh your options.
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