MBA is one of the courses highly in demand among students these days. The course is convenient, engaging, and has good placement records, which may be why there is no end to the excitement candidates have regarding it. Owing to the craze and popularity, many prestigious educational Institutes, nationally and Internationally, provide the best facilities and knowledge to the students. With a variety of options, there comes confusion, and maybe that is why you, too, have landed on this article, as you are also one of them unable to decide whether to pursue an MBA course from India or abroad.
Firstly, let us go through the advantages and disadvantages of both before comparing them.
Benefits of studying in your own country-
- You can save all the money you will spend on flights, accommodation, and the whole shifting process.
- Fewer tuition fees.
- Significantly less ROI if you opt for a university or a college other than Top -Business schools like Harvard, MIT, or Wharton Business School.
No Immigration formalities are required.
- Studying in your own country will save you from the hassle involved in the process of moving to another country.
- Sometimes, you do not get a VISA even after getting admission to the college.
- Work VISA is also not promised, which can be a problem during or after the course completion as it will be difficult to manage expenses without that.
- You can also be asked to leave the country after you are done with your study.
Connections and Network
- You have a familiar environment in your own country which will make your survival easy.
- Your contact can help you with better job opportunities.
- Your managerial jobs will always come through the network and not Job portals.
Drawbacks of doing an MBA from India-
Fewer facilities than abroad
- A degree from overseas will help you to stand out, which you will not get in India.
- Having competition with people from different countries will enhance your growth.
- You will get a quality lifestyle which you will not be able to get in your country.
- You will be able to inculcate a specific skill set that will bring you better job opportunities.
- You will not be able to get International Exposure.
- In your country, you will be in your comfortable space, and you will not be motivated enough to do better, and you may miss out on opportunities.
Benefits of studying abroad-
More exposure, More Learning
- Opportunity to get Global Exposure.
- You will be able to develop a bigger perspective.
- A chance to build a global network.
- You will be able to provide your company with International support in the long run.
- A different pattern is followed in B-schools worldwide to train students.
- Various tools and strategies are used to make studying interactive and experiential.
- Chance to gain hands-on experience.
- Practical experience will improve the quality of work at the job.
- You will be able to acquire new skills in an unfamiliar environment; you are forced to move out of your comfort zone.
- Being exposed to different situations without any support will broaden your mental abilities.
- Network building.
Cons of moving abroad for study
- Doing an MBA abroad is going to cost a lot.
- You may end up feeling that the amount of money you are spending is not worth it.
- In difficult situations, you will regret the amount of money you lost and didn’t get the expected ROI.
Completely a new beginning
- You cannot carry anything with you that took you years to build here – no friends, no connections, etc.
- If you decide to move out of your country, you will have to start from scratch, which is going to take a significant amount of time.
- A lot of time and effort will be required to have a fresh start.
More Struggle Initially
- The rules post-covid are changed in many countries, which can make it difficult for you to adapt to the new environment.
- It is hard to adjust to a new culture and new people.
- Difficult to adapt to the taste of food.
- You may struggle to make balance in the beginning.
Let’s go through a basic Comparison between both the options-
Eligibility For doing MBA in India–
- Minimum 50% marks in Graduation in any subject and from an institute that is approved by AICTE or UGC.
- Colleges like IITs and IIMs, which are very reputed, need a higher percentage of a minimum of 60% and a high CAT score.
- A relevant score in the following exams-
a)National level Like -CAT/MAT/CMAT/XAT/ATMA
b)State Level – Like TANCET / MAH-CET /MET-MP
c) Self-examination Like SNAP /TISS /NMAT / IRMA /IBSAT
- For SC/ST, 5% of relaxation is given that is, you need to score only 45% to get into an MBA, or you must have an Equivalent in CGPA the Graduation.
- Final-year students who wish to pursue the course can also apply.
Eligibility for doing MBA Abroad-
The eligibility of getting into an MBA program varies from country to country if you are planning to do it internationally. Also, students must be careful while making this decision.
Here are the general Eligibility Criteria-
- A bachelor’s degree in a related field from a recognized university.
- 3-5 years of work experience.
- Language proficiency means a relevant score in IELTS or TOEFL.
- A candidate may have to give university exams followed by an Interview.
How an MBA course differs in both the places
|Basis of Analysis||MBA in India||MBA in Abroad|
|Entrance Exam||CAT, XAT, SNAP, NMAT, IIFT||GMAT or GRE|
|Work Experience Requirement||2-5 years||2-3 years|
|Type of course||More theoretical||Extensively practical|
|Immigration Formalities||No formalities or VISA required||VISA needed which is a challenging process|
|Salary||INR 4 – 24 LPA||INR 40 – 10 Crore LPA|
|Investment Required||INR 2 lakhs to Rs 40 lakhs||INR 20,00,000-75,00,000|
|Opportunities||General Networking Opportunities||International Networking Opportunities|
|Exposure||Limited Domestic Exposure||Cross-cultural and Global Exposure|
|Top Colleges||IIM Ahmedabad, Mumbai XLRI Jamshedpur, IIM Calcutta , IIM Bangalore IIM Lucknow, ISB SPJIMR||Oxford London Business, Harvard Stanford Columbia, School of Management, Business School Rotman, Schools Melbourne|