Exploring Top Overseas Destinations for MBA

Pursuing a Master of Business Administration (MBA) is the next step for professionals in career advancement. In today’s highly competitive job market, MBA puts you on the map. Whether you plan to work in a managerial position or captain or are an entrepreneur. An MBA can help you climb the ladder to success while still not skipping but only enhancing essential learning blocks. International MBA students get endless opportunities to network with like-minded individuals from different industries, expertise and professional interests.

An MBA applicant or employee is considered to be an asset to the firm. Be it energy to marketing to finance or startups, employers encourage MBAs over others without a blink. And rightfully so! The course is specifically designed with analytic and practical training-focused modules. An MBA program not only educates students with the basic what nots, but also equips them with impressive and effective communication, conceptual approach towards solutions and team as well as time management.

MBA in the USA

Students in the USA can choose between a 2-year full-time program or an Executive MBA (EMBA) program. An EMBA allows students to study while keeping their jobs through weekend classes. Some universities also offer offline programs at an executive level. The education system in the USA consists of 560 courses with multiple types of programs and specialisation. Students can easily shortlist them as per their interests and goals. Whichever the choice, US universities support students with world-class infrastructure and faculties, professional collaborations, career insights and personalised sessions. The Open Doors Report 2023 recorded about 1.86 Lakh Indian students studying in the USA.

As a one-stop destination, its innovation, creative and entrepreneurial spirit buds entrepreneurs and leaders in successful ventures. As a result, getting into any of them is not everyone’s cup of tea. MBA students can expect 36.78 Lakh to 1 Crore INR as the cost of study, or 96.09 Lakh to 1.99 Crore INR for an EMBA. The Ivy League Schools are the twinkling star in the eyes of every scholar. The admissions are extremely challenging and could rate as low as 18%. While the requirement varies as per the type of MBA, the standard criteria are pretty straightforward. Students are required to present past academic records and merits, and a minimum score of 6.5 in IELTS and 700-740 in GMAT.

On the brighter side, there are several scholarships available. The UniCreds Fly High Scholarships offer financial aid up to 50 Lakhs, Joseph Wharton Fellowships, Stanford MBA Scholarship, Golden Key Graduate Scholar Awards and Harvey Fellowship are some of the most common ones. Once graduated, they can bag an average salary of 115,000 USD per annum in the USA which is easily around 7.98 Lakh INR per month.

MBA in the UK

The 155 business schools in the UK cater to budgetary requirements at all academic levels. The universities have remarkable quality, brand recognition and a range of network opportunities. With advanced knowledge in a variety of areas like finance and accounting, strategy and marketing and change management, they help students study the global perspective with expert lectures from their blue-chip corporate partners.

The UK is the host to international students from over 150 countries. Benefiting from their multi-cultured environment, students build invaluable connections. These connections help them on a professional as well as interpersonal level. As an MBA student, you graduate with connections from brilliant minds from all dominating parts of the world. Students can strategically put these connections to use in their startups as well as to benefit the companies they were hired in.

The intensive MBA program in the UK is, however, shorter than that in most of the countries. Full-time MBA programs in the UK last for 12-18 months while only the part-time ones take 27-48 months. Unlike in the USA, students can stay back in the country to gain work experience in their fields for 2 years. The average salary of an MBA graduate in the UK is £50,000 or 43.93 Lakh per month against the fees of 32 Lakh to 91 Lakh INR. Alternatively, they have EMBA programs with the cost of study of 20.7 Lakh to 73.4 Lakh INR. Part-time and online options are also available.

It goes without saying that the fee structure heavily varies as per the program type, university, location and involvement of research. Eligible students can benefit from university scholarships like the Imperial MBA Scholarship and the Cambridge MBA Scholarship. Additionally, there are government and non-government scholarships available too.

MBA in Canada

About 10 universities in Canada rank under the top 200 global universities for MBA. Their business courses are considered among the 10 subjects with the highest graduate salaries. Not only does Canada have quality education for MBA students, but it also has immigrant-friendly policies. Where the USA and the UK both fall short in providing permanent residency, Canada has its population built with over 5% Indian immigrants. The percentage is 1.35% in the US and 3.1 in the UK. Universities have more than 5000 global collaborations to help students seek internships and placements during their MBA programs.

Applicants require a minimum of 6.5 scores in IELTS and 500- 700 in GMAT. Like the US and the UK, Canadian universities also offer multiple MBA programs. Their full-time course spans about 12-24 months while the part-time one takes a reasonably longer duration. In addition to an EMBA, they have an International MBA program that takes about 20-28 months. While part-time jobs and scholarships are all in the favour, graduates can stay to find their place in the huge job market of Canada for up to 3 years.

Toronto alone has over 12,000 firms with a major establishment in the technology networking and finance industry. The companies based in Canada are relatively small. Regardless, their well-organised workforces match the learning opportunities and pay scale of a larger firm. An average MBA graduate can earn 70,000 CAD or 43 Lakh INR per year in Canada after investing 10 Lakh to 40 Lakh INR in a full-time program. Some top recruiters are Bank of Canada, Deloitte, Sunlife and Capital Method. The work permit gained during this period is a clear path to permanent residency.

How to Choose?

By the looks of it, deciding where to study for an MBA is one of the toughest decisions. But instead of where you need to start asking why. Let’s see which countries and universities fall under your whys. Some major factors to consider are the cost of education, the cost of living, location and placement. It would benefit students massively if they enrol in countries where the focus market surpluses their field of education.

And if you are still unsure, connect with Studywise International to get your FREE COUNSELLING today!