The-Ultimate-Guide-to-MBA-abroad-for-Indian-Students

The Ultimate Guide To MBA Abroad For Indian Students (Updated 2020)

MBA is a course that usually students and aspirants from any background and specialization can take up and has a very wide scope if done from a well-recognized institution that offers ample opportunities and guidance to the aspirants as the competition in MBA is huge and so are the aspirants so the accurate and correct guidance is very important.

Source: Praveen Dilliwala

MBA Abroad for Indian students

MBA is the most sought-after graduate programs in the world. Pursuing MBA can be treated as a future investment. Reasons for enrolling in MBA are that it is widely recognized, increases earning potential, develop networking contacts, start your own business, learn about a specialization based on interest and anybody can pursue it. MBA is also most preferred among the recruiters. It helps in building cross-functional skills and essential soft skills.

Presently in India, except for the top business schools, the MBA curriculum is not on par. It is very difficult and competitive to gain a seat in the top MBA colleges in India. Pursuing an MBA degree from abroad can lead to a broad spectrum of career opportunities and also provide global perspective.

MBA in USA for Indian students

United States has the most sought-after MBA programs as it is the center of the world economy. Based on the curriculum, infrastructure, resources and career opportunities USA is the most preferred choice for Indian students to pursue MBA abroad.

MBA Colleges in USA for Indian Students

Program NameBasic Tuition (Approx.)
Stanford University, MBA$73,000/year
Harvard University, MBA$73,400/year
University of Pennsylvania –
Wharton, MBA
$81,400/first year
University of Chicago –
Booth, Full Time MBA
$72,000/9 months
MIT – Sloan, MBA$77,200/year
Columbia University, MBA$77,400/year
University of California –
Berkeley Haas, MBA
$64,700/year
Yale School of Management, MBA$72,400/year
Northwestern University –
Kellogg, Two Year MBA
$73,400/year
Dartmouth College – Tuck, MBA$75,100/year

Top MBA Abroad Stations For Indian Students

USA

The US is by far the most favored stations for taking up courses like MBA; not only among the Indian students but students from the rest of the world as well. Taking into consideration the curriculum, campuses, resources, and career opportunities, USA is the best option for usual Indian aspirants.

Cost of Studying MBA in US for International Students:

It should be considered that MBA in the US is not an easy affair. At the best
business schools, fee range from $100,000 to $200,000 (INR 66 Lacs – 1.3
Crore)
, for a period of two years. However, American management
institutions also offer generous scholarships to deserving students.

Canada

Canada is still among the best 3 preferred MBA stations for any international student. But, when the Indian students are taken into consideration, Canada is absolutely the most preferred country for pursuing MBA abroad.

As per the Times Higher Education polls, International students consider Canada as the top of the list of preferred study-abroad countries. Even from the popularity stats between the 2013 -2018 period, it’s proved that Canada is gaining a lot of importance at a rapid pace.

Top Business Schools in Canada:

Canada is a destination that accepts diversity, so regardless of your ethnicity, one can feel comfortable in the country. Indian students can always expect a better and higher standard of living in Canada.

Most primarily, Canada has also built a number of the best business schools in the world. Some of the more renowned institutes are Toronto (Rotman), York (Schulich), Western (Ivey), UBC (Sauder), HEC Montreal, McGill (Desautels), Alberta, and Queens.

Cost of Studying MBA in Canada for International Students:

The total price for studying MBA in Canada may vary from $50,000 to $110,000 (INR 26 – 60 Lacs). Therefore, the cost of the curriculum is definitely less than in America.

Regardless, for the MBA students in Canada, the opportunity to find a job in established sectors is on the slimmer side. More than 98% of Canadian firms are small (less than 100 employees). Canada is still an outstanding destination for graduation in MBA.

Singapore

Singapore has over the years become out to be very famous among the
Indian aspirants. It’s one of the highest evolving economies and hosts various large corporations.

Top Business Schools and MBA Fees in Singapore:

The MBA degrees offered by prestigious universities in Singapore are recognized worldwide. They provide an absolute international environment with extensive global bonding.

The best colleges in Singapore are:

  • National University of Singapore
  • Nanyang Technological University
  • INSEAD Singapore campus
  • Singapore Management University.

Germany

Germany has always been a cornerstone when we talk about technology or maybe research and even innovation. As per the World Bank, the economy of Germany is one of the largest in Europe and even the 4th in the world. Despite having a stable cultural economy, Germany is considered to be the center to one of the top institutes globally.

Top Business Schools and MBA Fees in Germany:

The best MBA institutions in Germany are Manheim, ESMT Berlin, E CP
Europe (Berlin Campus), Frankfurt School of Finance and Management, HHL Leipzig, WHU Otto Beisheim School of Management, EBS etc. As an international student, you have to pay between $30,000 and $50,000 (INR 24 – 36 Lacs) for your MBA.

Apart from these universally ranked schools, students from abroad may also pursue MBA from the Universities of Applied Sciences.

Australia

Australia has gained a lot of popularity Among International Students for pursuing MBA. Despite being a vast country, Australia lacks to have MBA that is included within the best 100 globally. But, owing to the country’s quality of education, friendly immigration policies, a better standard of living, Australian MBAs are acceptable among the Indian aspirants.

Top MBA Schools in Australia:

The best MBA institutions in Australia are Melbourne, UNSW, Macquarie, Sydney, QUT, and Monash. If you are looking for a markable education along with office exposure, and stay-back & immigration options, so Australia is a great option.

Cost of Studying MBA in Australia:

The MBA programs in Australia cost between USD $37,000 and USD $72,000
(INR 16 – 48 Lacs).
The MBA price in Australia have seen yet another strong hike in 2018 with the usual curriculum now costing more than $50,000, up almost 12% in consecutive three years. One also requires adding the residential expenses; which is roughly INR 8 – 10 Lacs per year.

UK

Top Business Schools and MBA Fees in the UK:

The top MBA schools include UK are London Business School, Cambridge, Oxford, Manchester, Cass Business School, Warwick, and Imperial Business School. An MBA from the UK will typically cost you something $55,000 to $90,000 (INR 40 to 60 Lacs).

France

France is another very amazing study abroad destination. The MBA programs in France do not get the attention. But, if you consider then France is a magnificent country for pursuing MBA.

Top Business Schools in France:

Two of the most competitive and top-ranked management institutions in the world are located in France – INSEAD and HEC Paris. In addition to this, ESSEC, EDHEC, ESCP Europe (Paris), Grenoble Business School, Emylon Business School, SKEMA Business School are prominent.

MBA Tuition Fees in France:

USD $70,000 to $98,000 (INR 45 – 65 Lacs)

Study Abroad For Free For Indian Student

1. Select the accurate education abroad destination

There are many places where the institutions don’t charge any tuition fee. Taking into consideration Germany for instance, where tuition fees cost is deducted by a number of states. The government perspective of education is an investment and not an expense.

2. Select the correct degree (MS vs MBA vs PhD)

Popular study abroad countries like the U.S. do not have tuition-free colleges. But they have a large number of financial assistance choices (scholarships) for international aspirants.

But all degrees aren’t created the same. For instance Masters degrees – MBA, MS, MPhil, MiM. One is more likely to achieve a scholarship for an M.S. than for an MBA.

3. Apply initially in your career

While one is still in his earlier twenties, it more feasible to apply to courses like MS, rather than for MBA. Basically, in some ways, this is connected to the initial point about selecting the accurate course, but it perhaps deserves an alienated mention to underline the mentality of the program designers and the scholarship decision creators.

4. Crack the study abroad entrance tests

Regardless of the course or the country, all universities wish to be accepted by external evaluators – like leading publications that print about the worldwide university rankings where they pitch institutes against one another and then rank the same on the same scale regardless of the huge subjective differences. In addition to this, one would do well to prepare for English language tests such as TOEFL or IELTS.

5. Explore alternative financing choices

Sometimes no-cost services (i.e. scholarships with no strings attached) isn’t effortlessly available, especially at the best institutions. However, some of them might want one to sweat a little and earn the same, in return for a deduction in fees or no fees.

Graduate assistantships (GA) are the most helpful sources of financial help for international colleges. Read more about how graduate assistantships work.

Affordable MBA Abroad For Indian Students

  1. Norway
  2. Taiwan
  3. Germany
  4. France
  5. Mexico
  6. India
  7. Argentina
  8. Poland
  9. Malaysia
  10. South Africa

Best MBA Colleges In USA For Indian Students

Here is the list of best MBA colleges abroad for Indian students without work experience:

  1. Harvard Business School, USA
  2. Stanford Graduate School of Business USA
  3. University of Pennsylvania, USA
  4. Sloan School of Management (MIT) , USA
  5. Chicago Booth School of Business (University of Chicago), USA
  6. Columbia Business School (Columbia University), USA
  7. Stern School of Business (New York University – NYU), USA
  8. Haas School of Business (University of California, Berkeley) USA
  9. Anderson School of Management (UCLA),USA
  10. Marshall School of Business (USC),USA
  11. Robert H Smith School of Business, University of Maryland USA
  12. UC Davis Graduate School of Management (University of California, Davis), USA
  13. Carey Business School, John Hopkins (University in Baltimore, Maryland), USA
  14. McDonough School of Business, Georgetown University, USA
  15. Olin Graduate School of Business, Babson College, USA
  16. Boston University School of Management, USA
  17. Carroll School of Management – Boston College, USA
  18. Alfred Lerner College of Business and Economics, University of Delaware USA
  19. College of Business, San Francisco State University, USA
  20. Drucker School of Management, Claremont Graduate University, USA
  21. Erivan K. Haub School of Business – Saint Joseph’s University, USA
  22. Fox School of Business, Temple University, USA
  23. Frank G. Zarb School of Business, Hofstra University. USA
  24. La Salle University School of Business USA
  25. 25 LeBow College of Business, Drexel University,USA

MBA Scholarships For Indian Students Going Abroad

The best MBA colleges offer many scholarships, and yes there’s a perception that these are very tough to achieve considering the quantity of aspirants targeting them, it is obviously not an impossible job as it may look like.

Lots of scholarships are indeed merit-based, need-based, those who are having military background or aspirants who have portrayed leadership skills or have a special and deserving profile. The need-based scholarships are to be given after taking into consideration the financial aspect which indeed includes different types of assets and previously taken or availed outstanding loans/liabilities.

While an aspirant is applying for any scholarship, one must be sure he commences all the qualifying agendas. One must be required to write a scholarship based essay. The admissions essays, these scholarship essays must be accordingly customized too, so that when one presents himself as the correct choice for the selected profile to enhance the chances of winning the prize.

  1. Harvard MBA scholarship: This school offers need-based fellowships to deserving students wherein one would receive around $34,000 per year. The special interest fellowships are kept for those with various interests or backgrounds.
  2. Wharton MBA scholarship: There are numerous fellowships available like the evolving economy fellowships (students from emerging economies), Joseph Wharton Fellowships (outstanding achievements), Howard E. Mitchell Fellowships (outstanding students from under-represented backgrounds), Forté Fellowships(female students), Social Impact Fellowships (public or not-for-profit sector).
  3. Stanford MBA scholarship: The Stanford Reliance Dhirubhai Fellowship is given to a maximum five students. This scholarship provides special assistance to cover the entire tuition and fees for every two years of the specific program.
  4. Columbia Business School MBA scholarship: Scholarships that are available:
    • Merit-based: Forté Foundation Scholarship (for women) and Toigo Fellowship (under-represented groups pursuing finance careers)
    • Need-based: Amounts are given in the variety of $7,500 to $30,000 and may be renewed.
  5. Chicago Booth scholarships: There are various scholarship and fellowship prizes and awards. A few of them are:
    • The India Trust Fellowship, Akhtarali H. Tobaccowala Fellowship (for students from India). Financial Times has done a great task by displaying down the scholarships offered worldwide by the various business schools. Shortlisted scholarships that are applicable to international students for some of the reputed programs.

Hence, MBA from abroad is not only educationally prosperous but also hold great professional scope and with the correct planning, it can be afforded by the Indian student.

Also Visit:

FAQ

Q. Why do Indian Students pursue MBA Abroad?

Ans. Presently in India, except for the top business schools, the MBA curriculum is not on par. It is very difficult and competitive to gain a seat in the top MBA colleges in India

Q.Is it better to do MBA from India or abroad?

Ans. Pursuing an MBA degree from abroad can lead to a broad spectrum of career opportunities and also provide a global perspective. Reasons for enrolling in MBA abroad are that it is widely recognized, increases earning potential, develop networking contacts, start your own business, learn about a specialization based on interest and anybody can pursue it.

Q. Which is the best country to do MBA for Indian students?

Ans. Here is the list of best countries to do MBA for Indian Students:
1. USA
2. UK
3. Canada
4. Australia
5. Germany
6. France

Q.What are the requirements to pursue MBA abroad?

Ans. Here is the list of requirements for MBA abroad:
1. Four-year Bachelor’s degree- 16 years of education
2. Work Experience: 2-3 years (based on specific institutes)
3. Resume
4. SOP
5. Letters of professional recommendation
6. Proof of English proficiency- ILETS/TOFEL
7. GMAT score
8. Other documents (based on specific institute requirements)

Q. What is the GMAT registration and coaching fees in India?

Ans. The GMAT registration fees is US $250 = Rs.18,250 (Currency Exchange Rate: $1=Rs.73). The GMAT coaching fees in India is between Rs.25,000 and Rs.30,000 for the majority of the coaching institutes.

Q. What are the expenses for MBA to watch out for?

Ans. Here is the list of expenses for MBA:
1. Entrance exam fees- make sure you clear it in the first attempt.
2. University application fees- apply to colleges which you have higher chances of getting into.
3. Living expenses- moderate approximate living estimates are available. Make sure to save costs wherever possible.

/ Uncategorized / Tags:

Search Posts

About the Author

Piyush values education and has studied from the top institutes of IIT Roorkee, IIM Bangalore, KTH Sweden and Tsinghua University in China. Post completing his MBA, he has worked with the world’s # 1 consulting firm, The Boston Consulting Group and focused on building sales and marketing verticals for top MNCs and Indian business houses.

Share the Post

Comments

No comment yet.

Leave a Reply

Your email address will not be published. Required fields are marked *