Foreign MBA - Benefits, Hurdles & Best Locations

Foreign MBA has become a major dream for aspiring students in India. The prospect of global recognition is a major factor which drives students to migrate to other countries to pursue their career goals.

International appeal and global recognition engage active flow of MBA enthusiasts to foreign lands. Some of the major locations chosen by Indian students for their MBA are European and North American countries, Australia and Singapore.

The United Kingdom and Spain are major European destination for Indian students while the United States of America and Canada dominates among North American destination for MBA seekers.

Benefits Pursuing MBA from Abroad:

MBA seldom switches itself to other traditional subjects and cross its boundaries to subjects like psychology, philosophy, economics and foreign languages.

This makes the course different as several other traditional masters’ courses focus only on any specialized field.

An MBA graduate from top foreign Universities has many more added benefits other than gaining the Masters, which is formed by exposure to cultures from various parts of the world.

Students and teachers from different countries bring in a mix of ethnicity, culture, heritage, and values.

• Generating Confidence

A major benefit of studying abroad is the development of personality trails like independence, self-reliance, and confidence.

These characteristics help you in facing different situations during your career in business management.

• International Exposure

Experience in interacting with people from different countries helps you break cultural barriers in a multinational environment.

You are exposing your culture and imbibing the culture of people from other nationalities. Learning of multiple languages is another benefit.

Communication with native people, businessmen and international students and teachers will make you a flexible business person and helps you handle varying situations.

You will also get to know many things in terms of culture, language, religion, food, and many more things through this exposure.

• Experience in running a business

Different institutions and different managements have their own style of doing business. Your learning would include the ways different business houses manage to handle situations at hand.

These learning can help you to develop your own tactics to become a successful businessman.

Government policies and rules and regulations for running a business also vary from place to place.

Learning of changing business environments at different places helps you to become a pro in business management.

Hurdles to Cross for Foreign MBA:

However, gaining admission in a foreign university requires one to pass through various hurdles.

The expense of a foreign MBA is a major hurdle for most of our students. Foreign Universities usually charge huge sums as tuition fees from its students.

You may need to opt for a student’s loan or receive scholarships to handle the expensive tuition fees and living costs.

Most foreign Universities have made it mandatory for MBA applicants to have of working experience of at least 2- 3 years as an eligibility requirement for admission. Scoring good marks in Graduate Record Examinations (GRE) or Graduate Management Admission Test (GMAT) is another prerequisite for an MBA abroad.

Placement opportunity for foreign MBA graduates in several countries is very less. The placement facilities and a summer internship for foreign students are comparatively less.

Foreign MBA vs. MBA from Indian Business Schools:

The choice of weighing between top business Universities abroad to their counterparts in our country is a major decision for someone who looks for an MBA.

Syllabus of top business schools in India and that in abroad may be same. But they have a wide difference in their exposures.

When you are looking for middle-level MBA courses, it might be wiser to opt for a foreign MBA from University which would not charge you like private business schools in India. You will do MBA at lesser costs from Business College in countries in Western Europe including Germany and Spain.

If you are not able to reach there, you do have several alternative options for tasting fruits of foreign MBA.

Several prominent Indian business schools have student exchange programs which give you chance to study in top business schools abroad.

Remember that the popularity of the MBA School is one of the lead things which would determine your position in top companies. So look for the best colleges abroad or in India to work in top positions of prominent international companies.

Popular Locations for Foreign MBA:

Here are the lists of countries which are generally preferred by Indian students for their foreign MBA

United States of America:

The US is a popular location for candidates opting for a foreign MBA. It has the maximum number of B-schools in the world and attracts a large number of foreign students each year.

Strong infrastructural support with the application of latest technologies and contents, facilities for an internship in top companies and hands-on training experience are major features of American b-schools. The practical training and exposure to business environments of top companies develop skills of a student.

American business schools emphasize expanding their students' network which would be helpful for their future endeavours. These relationships can be helpful for a budding entrepreneur or a business executive.

Work experience along with performance in GMAT and English proficiency tests like TOEFL or IELTS are scrutinized before your admission in a top US- business school for MBA.

List Of Top Business Schools in the US:

• Booth School of Business, University of Chicago
• Harvard Business School
• The Wharton School, University of Pennsylvania
• Kellogg School of Management, Northwestern University
• Stanford Graduate School of Business

United Kingdom:

MBA from UK’s best business schools are valued the most by international corporations. London and other prominent cities of UK have some of the traditional business schools in the world which develop its pupils through rigorous academic approach.

London, as a leading finance and banking centre, offers good exposure to students in the service industry. This increases their chance to get absorbed in some of the top companies with high remunerations.

This might have resulted in the development of the UK as one of the prominent places opted by Indian students to pursue their MBA programs.

Some of the most popular business schools from the UK are:

• London Business School
• London School of Economics and Political Science (LSE)
• Imperial College Business School
• Lancaster University Management School
• Manchester Business School
• University of Oxford
• University of Cambridge
• Warwick Business School
• University of Strathclyde
• University of Edinburgh Management School
• Cranfield School of Management

Canada:

MBA education in Canada has turned into a hot cake for aspirants from India due to a series of reasons. Easier immigration policies in this country and chances to get into good jobs soon after the studies are the major contributing factors which attract candidates to Canada.

Steady growth in the economy through sectors like oil and gas, mining, manufacturing, agriculture and forestry promise jobs in these sectors. Canada has a large potential for employment generation as many of the world’s largest and influential companies are based here.

Popular B-Schools in Canada:

• York University Schulich’s Business School
• University of Toronto: Rotman School
• University of British Columbia’s Sauder Business School
• Saint John Faculty of Business, University of New Brunswick
• Queen’s School of Business, Queen’s University
• Mcgill University’s Desautels School
• Ivey Business School, Western University Canada
• Alberta School of Business, University of Alberta

Australia:

Australia has turned into a popular destination for Indian students to pursue their MBA. Affordability and quality of the course are primary factors which facilitates rush of Indian students to this Island country. The similarity of whether to India, relaxed student life and culture are some of the major contributing factors which attract students here.

Candidates who opt for MBA in Australia need to score a minimum of 550 marks for GMAT. You need to pass IELTS with an overall score of 6 or need to pass TOEFL with 90+ marks to gain the admissions. Australian colleges take in students in two batches: one in September and other in January.

Some of the top B-School in Australia:

• Melbourne Business School
• Australian School of Business
• Sydney Business School
• Macquarie Graduate School of Management (MGSM)
• Monash University
• School of Management- Queensland University of Technology
• Curtin Business School

Singapore:

Singapore is a good option for a student to pursue an MBA course at a low budget. Total course fees in Singaporean business schools ranges between Rs. 15 lacs and 20 lacs. Students have provisions to work for 16 hours a week which could sustain them economically.

The country has a strong non-tolerance policy towards drug abuse and ragging on campus. This makes it one of the safest cities for Indian students as guaranteed by the government of Singapore.

Some of the top B-Schools in Singapore:

• INSEAD Singapore
• Nanyang Business School
• University of Liverpool
• JE Educational College
• NUS Business School

Spain:

Spain has turned into a hotspot for football-loving Indians to do their Masters in Business Administration. Madrid and Barcelona host three top-rated European MBA programs in Europe.

Management education has bloomed in this nation over the last three decades. Madrid and Barcelona, being business hubs of Spain, offers the prospect of getting into some of the leading companies soon after the course completion.

Spain can also give you a variety of experience through its diverse culture and tradition.

Top B-schools in Spain:

• IESE University Barcelona
• ESADA University Barcelona
• IE University Madrid

Germany:

Germany has some of the most prestigious MBA colleges in Europe which offer quality education to students for comparatively lesser course fees. Science Technology Engineering and Mathematics (STEM) institutions in Germany are quite popular around the globe.

How would you feel if you can do MBA course without any tuition fees or with negligible tuition fees? Several Universities in Germany offer courses without taking any tuition fees.

However, you may need to pay other fees including semester fees, student union fees, semester pass, registration and application fees and social contribution fees.

You also need to show proofs of funds available to you to meet the living costs in Germany. German Universities offers MSc in Management which has equal value of MBA.

Top B-Schools in Germany:

• Technical University of Munich
• Ludwig Maximillian University, Munich
• University of Kiel
• University of Tubingen
• University of Ulm
• University of Stuttgart
• RWTH Aachen University
• Dresden University of Technology
• Johannes Gutenberg University
• University of Bremen

If you want to pursue your MBA from India, Here is a list of Best MBA Colleges in Bangalore to help you out. Check the link: https://campushunt.in/blog/best-mba-colleges-in-bangalore/

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