Best Countries to Study MBA Abroad

Due to the career opportunities MBA offers, the MBA degree is one of the most popular courses among international students. In addition to gaining a quality education, if you study an MBA degree at a reputable university, you may be able to get a job on campus.

In order to maximize your future career opportunities, we've identified the best country to study MBA in low cost. Before we discuss the nations that offer the very best MBA degrees, let's first discuss the benefits of studying overseas.

Why Study MBA degree abroad?

There are numerous advantages to study MBA in abroad for Indian students, and we have listed a few of those advantages below:

Lucrative job offers and packages

The average salary for a graduate after obtaining an MBA degree from an overseas institution is significantly higher than that of a graduate from an Indian university. An MBA graduate from an overseas institution can expect to earn roughly US $60,000 (INR 45 lakhs) annually, while the average salary in India is around INR 10-20 lakhs annually.

Opportunities to network with industry experts

Studying in some of the best countries to earn an MBA abroad, you will learn about a diverse range of students, ranging from students from diverse backgrounds, industries, and other experts. These networking opportunities will open up future career opportunities for you. An MBA earned from a renowned university abroad may help you land a job as a Chief Executive Officer (CXO) or become an entrepreneur.

International Exposure and the opportunity to gain hands-on experience

Handling modern-day business issues is one of the biggest challenges in the industry. The world-class instruction method will familiarize you with the industry world and give you an advantage over advanced management techniques.

Studying an MBA abroad is one of the best experiences one can have

Choosing the best country to study an MBA abroad and picking the right institution are the first and last steps in directing your career path. Before choosing the country and institution where you want to obtain an MBA, you should consider the following factors: university rankings, international accreditations, course content, tuition costs, teaching faculty, scholarships provided by the university and the government of the country post-graduation, and opportunities available. T

Best Countries to Study MBA Abroad for Indian Students

Here are the top 5 countries for abroad education that you must consider for sure.

Pursuing an MBA in the USA

According to the Open Doors Report 2019, India was the first country to send the greatest number of students to the US. The US is renowned for having pioneered an MBA program in the 20th century, and other nations followed suit. Some of the most prominent universities in the US, including those that offer MBA programs, are distinguished from other nations due to their strong infrastructure and internship opportunities. MBAs in the US provide not only practical training through projects but also exposure to the newest content and technology.

In addition to getting the chance to develop your professional network and meet the right people who may help you become a successful business executive or future entrepreneur, you will also be able to broaden your network at a B-school in the United States, where MBAs require up to ten years of work experience. Your GRE/GMAT scores as well as your English language proficiency test IELTS/TOEFL scores are required to study MBA in the United States.

Cost of Studying an MBA in the US

The amount you pay for an MBA at a prestigious US school can range from INR 60 lakhs to INR 1 crores. Annual tuition fees, on the other hand, vary from institution to institution. At the University of South Florida, an MBA can be obtained for around INR 14 lakhs after 18 months of studying, while an MBA from Auburn University may be obtained for around INR 21 lakhs after 17 months.

MBA programs at the top U.S. business schools:

• Harvard University’s Harvard Business School
• Columbia University’s Columbia Business School
• University of Pennsylvania’s Wharton School of Business
• Massachusetts Institute of Technology’s MIT Sloan School of Management
• Stanford University’s Stanford Graduate School of Business
• University of Chicago’s Booth School of Business

According to Statistics, an online portal for statistics, an MBA degree from the United States can earn an annual salary package of $1,15,000 (INR 85,57,753.75). The Post Study Work Permit allows MBA graduates to remain in the United States for a period of two months (60 days).

Pursuing an MBA degree in the UK

London is one of the world's leading financial and business centers. The favorable conditions in the UK's service sector have made it a popular destination for Indian students. Besides having a large Indian population, the world-renowned B-schools draw international students.

London Business School was ranked sixth in the QS Global MBA Rankings 2021, which included 27 UK universities. B-schools in the UK focus on a student's professional development and provide a wide range of specializations such as Consulting, Hospital Administration, Finance and Accounting, Marketing and Arts Management.

Cost of Studying an MBA in the UK

Students choose the UK for an MBA because it is less costly than studying in the US. London Business School, one of the top institutions, charges as much as INR 87 lakhs for a 15–21-month MBA program. MBA programs from reputable British universities typically range from INR 40 million to 60 million, but you may spend as much as INR 87 million.

Top UK business schools 

• London Business School
• Cambridge Judge Business School of University of Cambridge
•  Said Business School of University of Oxford
• Manchester Business School of University of Manchester
• The London School of Economics and Political Science
• Strathclyde Business School of University of Strathclyde  
•  Lancaster University Management School of Lancaster University  
• Cranfield School of Management of Cranfield University  
•  Imperial College London
• City University London  
•  Business School at University of Edinburgh

MBA graduates from the UK can expect a ROI of $80,000 to $180,000 (£59,51948 to £1,33,92,990). Students may remain in the UK for up to two years after graduating to look for employment or participate in other learning opportunities.

Pursuing an MBA degree in Canada

It is the favorite destination for Indian students to study MBA abroad, according to the list. Canada is one of the world's most renowned and influential firms. Because of its thriving mining, oil, and gas, healthcare, IT, architecture, agriculture, and forestry, and manufacturing sectors, Canada is a popular destination for MBA study abroad. Students who have completed their degrees realize the importance of a thriving economy and look for employment.

Cost of Studying an MBA in Canada 

Canada offers affordable MBA abroad for indian students, particularly those seeking to immigrate. The country's immigration process is also simple. MBA degree programs last between 10 months and two years and are divided into three categories: general, specialized, and combined. MBA programs cost between INR 25 million to 60 million in Canada on average, but some institutions offer them for less. For example, the University of Alberta charges INR 9 million for a 20-month MBA degree, while McMaster University charges INR 11 million.

Top Canada business schools

• Queen’s School of Business – Queen’s University at Kingston
• UNB Saint John Faculty of Business – University of New Brunswick  
• Rotman School of Management – University of Toronto
• Ivey Business School – Western University  
•  Schulich School of Business – York University  
•  Alberta School of Business – University of Alberta  
• Sauder Business School – University of British Columbia (UBC)’
• HEC Montreal – University of Montreal

Some of the greatest hiring companies in Canada, such as Apple, Facebook, Deloitte, Bain & Company, Citigroup and BCG, have caused increased chances for post-graduate employment, resulting in students being able to remain for up to three years.

Pursuing an MBA degree in Australia

Australia has 75 internationally renowned MBA programs from some of the world's top B-schools, as well as from AACSB- and EQUIS-accredited institutions. Furthermore, the favorable lifestyle and enterprising mindset that universities in Australia offer is an added bonus.

Students are able to grasp both Eastern and Western business management because of Australia's multiculturalism. To be admitted to an MBA program, aspirants must take the GRE/GMAT or IELTS/TOEFL exams. Australian MBA schools admit students twice a year, in January and September.

Cost of Studying an MBA in Australia

Average MBA tuition costs in Australia range from INR 16 lakhs to 50 lakhs. Institutions such as the University of Melbourne charge INR 49 lakhs for an MBA degree, while Deakin University demands INR 15, 68,830 for a 1.5-year MBA degree.

Top business schools in Australia

• Melbourne Business School of University of Melbourne
• Deakin Business School of Deakin University
• Faculty of Business and Economics of Monash University
• Macquarie Graduate School of Management of Macquarie University
• UNSW Business School of University of New South Wales
• Curtin Business School of Curtin University
• QUT Business School of Queensland University of Technology
• College of Business and Economics of the Australian National University

The greatest job providers in Australia are Accenture, Deloitte Australia, Commonwealth Bank of Australia, ANZ Banking Corporation, CIMIC Group, Qantas, and Wesfarmers. Students may receive an MBA degree in Australia for two years, and then apply for a 15–25-month post-study work permit visa.

Pursuing an MBA degree in Germany

Germany's economy is technology-based and innovative, thanks to its leadership in both electric and automotive industries. Besides having some of the greatest business management schools in the world, the country's public universities are financed by the government. This has led to a reduction in tuition fees, and students are charged a nominal administration fee only.

Entrepreneurship and technological innovation are booming in Germany thanks to its location at the intersection of East and West Europe. This has allowed innovators and customers to bring novel ideas to numerous sectors. The universities of Germany are renowned for having academicians with extensive business experience. As a result, a large number of international students come here every year.

Cost of Studying an MBA in Germany 

At a public university in Germany, an MBA degree can cost anywhere from $20,000 to $40,000, depending on the institution. 

Top B-schools in Germany

• EU Business School, Munich
• Leipzig Graduate School of Management
• Frankfurt School of Finance and Management
• Munich Business School
• Technical University of Munich
•  MBA in International Management at Reutlingen University

Students who have completed their MBA can remain in Germany for 18 months after graduation if they apply for a post-study work permit. Many other countries, including Singapore, Ireland, and the Netherlands, welcomed a large number of international students seeking an MBA last year.

Conclusion

The MBA is one of the most lucrative degrees in the world, and it has a very broad range of employment options. It should come as no surprise that students work extremely hard to get into top MBA colleges abroad        so they can pursue their aspirations and profit from their investments. Get ready and chisel yourself into the university abroad of your choice if you want to advance your career with the appropriate degree.

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