So, MBA it is. It’s great that you have decided to choose a B-School for graduation. And you are not alone. India has the second largest pool of MBAs in the world, second only to China. Nine in 10 business school alumni agree that their GME was personally (94%) and professionally (89%) rewarding. So, congratulations on your decision. You are on the right track to success. MBA is not just a degree, it’s an investment.
However, when it comes to reaping the benefits of your investment, not just your MBA degree and the specialization you choose, but where you choose to get your MBA from, matters equally. Needless to say, it’s time to decide if your secret dream of studying abroad would give your career that much-needed push. Or should you think about earning an MBA degree from India, enjoying the familiarity of the market and being safe inside your comfort zone.
Well, as always, comfort zones are the only zones you need to steer clear off. Let’s deep-dive into the pros and cons of getting an MBA abroad and see why millions of students still cherish the dream of heading overseas to get a management degree.
Benefits of MBA in India
If you are Indian student, there are some very obvious reasons for you to choose to study in India.
1. India is witnessing a boom in entrepreneurial and tech landscape
2. It has a plethora of top-ranked legacy and new age B-schools
3. The cost of education is low which means great return on investment
4. Food and accommodation expenses are affordable too
5. The admission process is hassle-free with no VISA requirement
6. The business landscape is familiar and you can benefit from your own network of friends and acquaintances.
Despite these benefits, why a foreign MBA carries more weight?
As discussed, familiarity and affordability are the biggest advantages of getting an Indian MBA, especially if you are an Indian applicant. But convenience was never your goal, was it? Despite the ease, students are applying to international universities in large numbers. US executive MBA programs reveal a 38% y-o-y growth in international applications, according to GMAC.
Let’s see why international B-Schools attract students in such large numbers.
1. Global exposure
One of the most rewarding benefits of an MBA degree is the chance to test and gauge the international business landscape. Sure, it’s challenging to understand the buyer’s perspective, the purchase journey and other essential consumer insights of an unfamiliar terrain. But therein lies the excitement of pushing your own limits. You will get innumerable chances to go beyond your potential, meet new people, learn new languages, surprise yourself with data that may be so different than what you would probably get by analysing your home market. Leading brands looking for candidates with cross-cultural leadership skills agree that global exposure is a dealbreaker.
2. Ambitious starting salary
Management is one of the highest paying careers with a whopping starting salary for deserving graduates. An MBA from India promises a salary of 18 to 20 L per annum. However, an international degree can get you anywhere around, brace yourself, 45 lakhs per annum. That, in itself, says a lot about the value of an international degree.
3. A diverse, powerful network
International B-Schools have top class students from across the globe. Your classroom is likely to have a huge percentage of students from different ethnicities and nationalities, all of whom will go on to make a difference in the world in their own unique ways. Imagine how vast and influential your network will be after spending two meaningful years with such impactful people!
4. A world of opportunities
If your professional aspiration is living and working abroad, an international MBA is possibly the best and the most potent option for you. For e.g an MBA from a B-School in the U.S. may get you interesting internship options in America while opening up doors of a full-time career for you there.
At WritersQi, we specialize in bridging the distance between dreams and achievements. Our education consultants know what it takes to study abroad and the rewards that follow suit. Book a consultation with us to know how you can achieve your dream to study abroad and we’ll help make your journey smooth.