The choice between an MBA in India and an MBA Abroad continues to perplex the students who wish to pursue a career in Management. Studying abroad is like a dream for many but it digs a huge hole in the pocket. The question that arises is whether moving away from your house, spending the huge amount, undergoing emotional and physical stress actually worth it?
Students have a lot of queries about the placements, the college ranking, the job market for students who have studied abroad and wish to work in India and vice versa. These are predominantly the daunting factors in the student’s mind while making the decision of whether to enrol themselves for an MBA in India or an MBA Abroad.
A proper research should be the basis of the decision. A step by step by analysis of all the confusions that are bombarding the student's mind needs to be done. We aim to throw some light on the same and bring some clarity to the minds of students. The following are the major factors that need to be kept in mind while making a final decision.
Yes! As expected the financial aid is the main deciding factor of whether the student should continue with an MBA programme in India or look out for an option abroad.
While an MBA in India from tier I colleges like the IIMs would cost you around Rs 10-15 lakhs, the same from tier I colleges abroad would fall in the price bracket of Rs 30- 50 lakhs.
The study cost in tier II colleges in India and Abroad also has a difference of about Rs 7-15 lakhs.
If you have the money then you should most definitely go for it. It is a different experience that enhances your skills and works for your development as an individual. Students who have the money and get through the IIMs and the Harvard or the London School of Economics must go for the latter. Those of you who don’t have the finances can get financial funding, but in most cases, you don’t get the funding for the entire amount. A minimum amount of Rs 5-7 lakhs is what everyone should have in addition to the amount for which you seeking financial aid.
If you aim to settle abroad, then you must go ahead for an MBA degree from a foreign school. It just proves to be an added advantage.
Those of you who don’t have the financial means to carry on with an MBA Abroad have an option of studying in India and then moving out for the industry experience. These days there are a lot of universities which have collaboration with foreign schools and who also offer placements abroad.
Students who have taken financial aid for studying abroad should preferably look for a nice job in the international organisations only or work hard for the placements of their universities. The best advice for them is to stick there for a few years and then come back, only if they wish to do so. The education loan is usually hard to pay off in such cases. Even if you get one of the best packages in India after completing a degree from abroad, it will always be difficult for you to pay off your loan. Hence, it is advisable that you work outside for some time, earn good money and then come back. Do remember that out of the total number of students that go out of a course, only 30% come back.