There are undeniable qualitative benefits to studying abroad, exposure to different cultures, expanding your network and becoming independent financially and mentally. For instance, this move tests your ability to step out of your comfort zone, which may help you develop new habits and interests. It will open doors to various opportunities in international organizations and businesses. Moreover, these days higher education institutes are focusing on international students since they bring both financial and cultural assets to the university.
Why to study abroad?
Before assessing your study abroad destinations let’s understand how studying MBA abroad will help you ahead. Studying abroad is a great way to develop marketable business skills. You'll learn how to work with people from othercultures and how to communicate effectively in a new language. You'll also gain international experience, which will be avaluable asset on your resume. And, of course, you'll meet new people and make lifelong friends.
Developing marketable business skills:-
An MBA abroad will expose you to new business culture and different ways of doing things. This can be an excellent opportunity to learn new business methods you can apply in your home country.
An international MBA will help you develop a global network of contacts that can benefit your future career.
An MBA from a top business school will allow you to learn from the best minds in the industry and get a world-class education.
An MBA abroad will also help you stand out from the crowd when you apply for jobs. With an international MBA on your resume, you can show employers that you have the skills and abilities to work in a global environment.
Lastly, studying MBA abroad will allow you to live and experience a new culture. This can be an excellent opportunity to learn about a new language and way of life.
Given all these points, it’s still important to remember that entering a completely new environment is not always easy. With over 250,000 students studying for MBA during the past two years, 100,000 of them are international applicants.
Take into consideration the following factors to have a higher chance of getting selected:
Curriculum structure
Application Process
Tuition Fees
Scholarship availability
Living costs
Analyzing the trends mentioned these countries are considered the current hotspots
United States
United Kingdom
Canada
Australia
Germany
Singapore
Paris, France
1. United States
Most universities have been featured as the top universities in the Global rankings. The top three include the University of Chicago, the University of Pennsylvania (Wharton), and Northwestern University (Kellogg).
Curriculum structure- Has three intake times Summer, Spring, Fall, four-semester and a two-semester format. You can complete the course in 18-24 months.
Tuition Fee- The two-year program has an average cost of (48,00,000INR) which can vary according to the scholarship/university.
Living costs- Average living cost ranges from (520,000INR-640,000INR) yearly; Food approximates 3000$ yearly (depending on location)
IELTS/TOEFL:- Compulsory GRE: - Required for most schools
2. United Kingdom
UK is known for 27 of the top 70 Business schools in Europe, according to the QS Global Business Schools Report 2020. London Business School and Warwick Business School offer leading courses.
Curriculum structure-The two-year course popularizing fall and spring intake splits the academic year into three terms across two semesters. Two-course options are one year MBA or two years (with a one-year internship).
Tuition Fee- Medium and High-cost universities range from (8,50,000INR to 28,36,000INR) meanwhile, Low-cost Private colleges cost anywhere around 5000£.
Living costs- Ranging from 6,80,000INR to 8,50,000INR) per year.
IELTS/TOEFL: - Not compulsory but recommended GRE: - Not required majorly
3. Canada
Student loans are available from the provincial government for programs at selective universities with arranged internships. Canada offers a 3-year post-graduate work permit for students.
Curriculum structure- Follows the same structure as the USA with three intakes and two-semester types.
Tuition Fee- Cumulating all universities (low to high expense) fees range from (6,11,743INR to 28,75,000INR).
Living costs- The living costs are comparatively cheaper than that of the USA, ranging from (3,67,046INR to 6,11,000INR). Making it more affordable for students
IELTS/TOEFL: - Compulsory GRE/GMAT: - Required
4. Singapore
Singapore, as a business education destination, offers a wide range of MBA opportunities, with a high-quality education.
Curriculum structure- MBA program in Singapore is 12 months for full-time and for part-time courses, it is 18 months.
Tuition Fees- Fee for a grad school ranges from about (26,22,000INR to 57,00,000INR).
Living costs- Being a hotspot in Southeast Asia, this place is a bit expensive; you should have approximately S$800 per month to prepare for your cost of living in Singapore. The cost of accommodation for a student is about (22,800INR-45,601INR).
IELTS/TOEFL: - Recommended but not required GRE/GMAT: - Required
5. Germany
Germany has the largest economy in Europe, and multinational companies are eager to hire more workforce in their country. Graduates here place among the top three highest paying degrees in Germany.
Curriculum structure - MBA in Germany lasts between 12 and 24 months, with a fixed semester division according to the major.
Tuition Fees - Many universities here offer appealing programs with little to no tuition fees. However, only selective universities provide such programs. In other cases, tuition fees can range from 12,000 to 32,000 INR per semester.
Living costs- Not only can you study for free in Germany, but it is also a pretty affordable country. Students' average living costs range between 56,200 to 80,000INR, including residence. Main cities cost more compared to smaller cities.
IELTS/TOEFL: - Not required GRE/GMAT: - Required for selective universities
6. Australia
There are around 75 internationally recognized MBA programs in Australia, many of which have global accreditation from the AACSB and EQUIS. Melbourne Business School and UNSW Sydney are to name a few.
Curriculum structure - Australian colleges and universities offer two significant intakes, with the first semester starting from February/early March to late May/early June; the second intake from late July/early August through to November.
Tuition Fees - Courses cost from 12,00,000 - 27,00,000INR).
Living costs - Students living in Australia need between 81,234INR and 1,35,300INR to cover all their living expenses.
IELTS/TOEFL: - Compulsory GRE/GMAT: - Not required
7. Paris
Business schools like HEC Paris and INSEAD feature in the top colleges, which has attracted placements from around the world. MBA courses in Luxury Fashion are unique to Paris.
Curriculum structure- The flexible time margin allows students to cover their course within 14 to 24 months.
Tuition Fees- The MBA program costs 60,00,000INR.
Living costs- A year of study in France would be ~5,00,000INR.
IELTS/TOEFL: - Not required GRE: - Not required
BIBLIOGRAPHY
https://www.mba.com/explore-programs/study-destinations/benefitsstudying-abroad http://www.infozee.com/channels/mba/uk/expenses.html https://www.graduateshotline.com/canada/university-tuition-fees.html https://www.studyaustralia.gov.au/ https://find-mba.com/schools/europe/franc