MBA is one of the most in-demand courses today, but it’s important to remember why studying an MBA overseas, as well as the type of university and MBA program you attend, have connotations that can assist open doors based on the university’s reputation. As a result, it is vital to carefully select your study place before to applying. There are several factors to consider while choosing the best country for an MBA program.
Top Colleges for MBA Abroad
An MBA is the most popular course among students interested in studying abroad. Due to the great demand for top MBA universities in other countries, you must prioritize MBA rankings over other criteria while selecting the finest college and program.
| University | QS Ranking | Fees |
| Stanford Graduate School of Business | 1 | $76,950 |
| Harvard Business School | 2 | $73,440 |
| HEC Paris | 4 | $82,725-$84,967 |
| MIT (Sloan) | 5 | $76,000-$134,482 |
| London Business School | 6 | $101,018-$112,636 |
| INSTEAD | 7 | $99,373-$120,165 |
| Columbia Business School | 9 | $77,376-$114,20 |
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Scholarship For MBA Abroad
While an MBA abroad from a reputable university can considerably improve your career chances and help you gain a stronger footing in today’s job market, it remains a faraway dream for many because the costs connected with it are not affordable for everyone. Tuition costs, a high cost of living, medical bills, and transportation are just a few of the financial responsibilities that an MBA student must be prepared to bear when studying abroad. Fortunately, there are several MBA scholarship opportunities for Indian students that might help you pay for your MBA.
| Name of Scholarship | Reward Amount |
| Postgraduate Ghana Scholarship | 5000 EUR |
| Merit Awards for International Students | $1000 |
| UBC Kathryn Huget Leadership Award | $1000 |
| Executive MBA Bucharest Scholarships for International Students | Up to 35% of tuition fee |
| Harvard Business School Scholarships | $5,000 |
| Stanford Business School MBA Scholarships | $35,000 |
| Wharton Business School MBA Scholarships | $20,000 |
MBA Abroad for Indian Students
Thousands of Indian students study for MBA overseas every year. International students should consider studying in the United States, Canada, Germany, Australia, or the United Kingdom. Let’s look at the qualifications and best universities in these nations for MBA students from India.
Exams For MBA Abroad
The GRE, GMAT, IELTS, TOEFL, SAT, and ACT are the most popular and relevant entry exams for studying abroad. Students who perform well in these worldwide competitive exams may be eligible for financial assistance in the form of scholarships.
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MBA in the USA
There are around 553 MBA universities in the United States. Around 288 of these universities are publicly supported, while the remaining 265 are privately held. MBA programs in the United States are among the most popular among international students. According to the US Department of Education, the United States has the world’s largest MBA market, with over 1,25,000 students obtaining their MBA each year. The large number should not deter you because the US economy is large enough to absorb the number of MBA graduates seeking better prospects.
| Top Universities | QS Ranking | Fees |
| Harvard University | 1 | 68.3L |
| Stanford University | 2 | 77.0L |
| University of Chicago | 3 | 60.6L |
| University of Pennsylvania | 4 | 76.2L |
| Massachusetts Institute of Technology | 5 | 73.2L |
| Northwestern University | 6 | 91.8L |
MBA in Germany
Germany is frequently regarded as a place of possibilities and ideas. Germany is a key center for technology, research, and innovation, and it is one of the most popular destinations for foreign MBA students. Germany’s education system is taken very seriously, making it an appealing place for knowledge seekers. Germany is one of the most sought-after countries for MBA courses in the world, with cutting-edge infrastructure, world-class facilities, and no tuition costs. Students interested in pursuing a Master of Business Administration (MBA) should be aware that most publicly financed colleges in Germany do not charge tuition.
| Top University | Fees | QS Ranking |
| University of Mannheim | 39,900 EUR | 16 |
| Frankfurt School of Finance and Management | 39,000 EUR | 18 |
| WHU University Otto Beisheim School of Management | 40,500 EUR | 24 |
| ESMT Berlin | 43,500 EUR | 30 |
| EU Business school | 20,850 EUR | 43 |
MBA in the UK
MBA programs in the United Kingdom equip students with a diverse set of skills that help them have a better grasp of business and management. In the United Kingdom, more than 100 universities offer MBA programs in a variety of specialties, including economics, health management, and international business. Although the cost of getting an MBA at one of the premier business schools in the UK is considerable, the income expectations are also high.
| University Name | QS Ranking | Fees |
| University of Oxford | 1 | 73.7L |
| University of Cambridge | 2 | 68.0L |
| University of Warwick | 4 | 57.8L |
| University College London | 5 | 47.5L |
| University of Bath | 7 | 47.2L |
| Lancaster University | 8 | 41.7L |
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MBA in Canada
The Master of Business Administration (MBA) is a highly sought-after course that provides students with a diverse range of professional options. More than 40 universities and colleges across Canada offer MBA programs. A GMAT score of 550-720 is required for admission to top MBA programs in Canada. In comparison to other popular study destinations, an MBA in Canada is one of the most economical courses for international students.
| University Name | QS Ranking | Fees |
| Schulich School Of Business (York University) | 1 | 106,900 CAD |
| Roman School of Management | 171 | 131,120 CAD |
| Sauder School of Business | 35 | 90,057 CAD |
| Desautels McGill University | 31 | 31,000 CAD-32,000 CAD |
| Smith School Of Business | 64 | 102,100 CAD |
MBA in Australia
For international students, Australia is one of the top study locations. According to the QS ranking, it is one of the top five study destinations for international students seeking an MBA abroad. According to the Australian High Commission in New Delhi, 70,000 Indian students were studying in Australia in November 2017, up 14.65% over the previous year. Every graduate nowadays wishes to pursue an MBA (Master of Business Administration) to advance his or her profession. Pursuing it from a well-known foreign location puts one ahead of the competition. It also gives MBA professionals an ahead start in their careers.
| University Name | QS Ranking | Fees |
| RMIT University | 206 | 25.6L |
| Deakin University | 16 | 31.1L |
| Curtin University | 194 | 31.5L |
| Monash University | 6 | 34.8L |
| The University of Adelaide | 108 | 35.2L |
| Victoria University | 560 | 18.7 L |
MBA Abroad without Work Experience
It is a common misconception among students that only students with work experience can pursue an MBA since work experience will aid them in their MBA studies. Graduates of MBA programs with some work experience are said to have a better comprehension of what they would learn in the business than those who do not. If you are a business graduate or a recent graduate wishing to pursue an MBA abroad without prior work experience, you have various options.
How to apply to universities without work Experience?
You must conduct independent research to apply to MBA colleges overseas without prior work experience. Here is a step-by-step approach to applying for an MBA abroad at a foreign university if you have no prior experience.
- Conduct thorough research and compile a shortlist of universities that accept MBA freshmen.
- Examine the subjects and types of MBA specializations that the university offers.
- Make a list of your selected course, including its deadlines, prerequisites, and eligibility.
- Participate in entrance exams such as the GMAT or IELTS and give it you’re all.
- Collect all essential documents and submit the application form after obtaining the test results.
- If you are chosen, you may be required to attend an interview as part of your application.
- Apply for a student visa at your nearest embassy once you’ve been admitted to the university.
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MBA in Abroad for Indian Students at low cost
Enrolling in universities that provide low-cost MBA abroad is the cheapest way to get an MBA abroad. Additionally, make certain that the country you choose to study in has a reasonable cost of living. An MBA from Canada, for example, would be less expensive than an MBA from Germany due to the lower cost of living. In the same vein, the cheapest country for Indian students to pursue MBA is listed below:
- Canada
- China
- Switzerland
- Germany
- Norway
- Ireland
- Netherlands
- Singapore
- France
- Sweden
MBA Abroad Eligibility
All universities providing Master of Business Administration programs overseas require a bachelor’s degree from a recognized college. Some universities have additional requirements, such as job experience. It is generally a good idea to examine the eligibility requirements of the college to which you are applying before applying.
- A full-time bachelor’s degree from a recognized institute is preferred by reputable colleges.
- IELTS, TOEFL, PTE, and standardized examinations like the GMAT and GRE 2 are examples of language competence exams. Requirements for work experience
- Top MBA schools seek candidates with significant job experience. Although some schools offer MBA programs without job experience, having relevant professional experience is usually advantageous. Foreign universities search for applicants who can offer value to their campuses and benefit the most from their programs, in addition to their academic records.
MBA Abroad or India
There is a significant difference between an MBA obtained abroad and an MBA obtained in India.
| Basis of Comparison | MBA in India | MBA in Abroad |
| Course of Duration | 2 years | 1-2 years |
| Study duration | Full-time | Full time, part-time, online |
| Specializations | Healthcare, International Business, Supply Chain | Finance Marketing, HR Entrepreneurship, Digital Entrepreneurship, Digital Systems, etc. |
| Teaching Method | Focuses on the theoretical aspect | Focuses on the theoretical aspect along with practical training and exposure |
MBA Abroad Cost
MBA prices in other countries can range from Rs. 20 to Rs. 50 lakhs, but top MBA institutes in India charge between Rs. 7.5 and 25 lakhs.
| Country Names | Average fees |
| Anderson School of Business | 48,83,350 |
| Sobey School of Business | 23,41,950 |
| Australian National University | 24,77,775 |
| Melbourne Business School | 45,45,390 |
| Monash University | 22,32,978 |
| Macquarie Graduate School of Management | 20,29,980 |
MBA Abroad Requirements
GMAT scores and performance on the TOEFL and IELTS language proficiency tests are used to determine MBA Abroad admittance. MBA Abroad requires a bachelor’s degree in business or a related discipline from a recognized university, as well as three to five years of work experience.
- Any candidate interested in pursuing an MBA from a foreign country must have a bachelor’s degree in business or a related discipline from a recognized university.
- 3 to 5 years of work experience
- Being fluent in the language of the nation from where one wishes to study an MBA is an important MBA Abroad requirement.
MBA in Abroad without GMAT
Apart from full-time MBA programs, there are a variety of MBA programs that do not require a GMAT score, regardless of the university or nation. These are they:
- MBA programs for professionals with five or more years of experience are known as executive MBA programs. GMAT scores are not required for admission to business schools offering EMBA programs in other countries.
- Fast-track MBA: When applying for a fast-track MBA program, several universities do not need candidates to have a GMAT score.
- Part-time MBA: Many part-time MBA programs waive the GMAT or give the GMAT score insufficient weight in the application process. This makes it easier for candidates who do not have a GMAT score to get into MBA programs.
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MBA Jobs Abroad
International students prefer to enroll at Top Business Schools throughout the world for their MBA courses since MBA graduates have a better chance of finding work overseas. Popular business schools in other countries have excellent employability rates, with graduates having great employment opportunities. As a result, jobs following an MBA in another country are plentiful and largely reliant on your specializations or courses. An MBA income in another nation might range from $85,000 to $135,000 per year, depending on the country and specialization.
| Job Roles | Average Salary |
| General Manager | 78,900 USD |
| Strategy Manager | 107,706 USD |
| Marketing Manager | 96,194 USD |
| Operations Manager | 78,676 USD |
| Project Manager | 88,727 USD |
MBA Salary in Top Countries
Many students choose an MBA because it is in high demand in the job market, and businesses pay well for MBAs. This department has a lot of room for expansion. MBA salaries in some of the world’s most industrialized economies are much greater than in others.
| Country Names | Average Salary |
| Singapore | US $82,700 |
| Australia | US $98,400 |
| France | $98,500 |
| Canada | US $99,800 |
| United States | US $102,100 |
| Switzerland | US $123,500 |
FAQs
Ans: Leading business institutions provide free online MBA courses as well as other classes. Business Insider compiled a list of free online courses available at prominent universities.
Ans: Without work experience, international students with a strong academic background can gain admission to the greatest MBA institutions in the world.
Ans: Canada is the cheapest country for MBA programs.
Ans: The bottom line is that an MBA earned abroad is worthwhile. Even if you spend 15 lakhs on an MBA from a prestigious institution, you will recoup your investment within a year after graduation. Even before you get your MBA, start thinking like a company manager.
Ans: Students pursuing a Master of Business Administration (MBA) in Germany should be aware that most government funded universities do not charge tuition. However, students must pay an Administration Fee at the beginning of each school year.
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