Tuesday, July 20, 2021

Confused About Which Country Is Best for MBA Studies?

Pursuing an MBA from an acclaimed foreign Business school can open an array of opportunities for you. However, aspirants always have one question in their mind, which country is best for MBA?

MBA is one of the most sought-after courses today, but it is essential to keep in mind that while studying MBA from a foreign university there are lot of factors to consider before applying for any international business school It is not easy to determine which country is best for MBA as there are various factors which need to be consider.

Important factors while zeroing down our list to determine which country is best for MBA:

  • Academic curriculum and University reputation
  • Location 
  • Total fees
  • Culture
  • future scope and
  • Domestic economy

Thus, in this article, we will inform you about the various aspects which will help us answer the question, which country is best for MBA and then eventually look on a list of prospective countries best fitting as the answer to the question, which country is best for MBA?

Why should one consider pursuing their MBA from foreign?

  • Alluring job packages: an average MBA graduate from a recognised B School from a foreign university is substantially better than that of an MBA graduate of an Indian B Schools.
  • Bright career possibilities: as the management curriculum of any top ranking foreign university is very diverse and focuses more on new age business problems makes a graduate better capable of handling better and mature job profiles since their start of career.
  • Networking prospects: Studying from a foreign nation exposes any aspiring student to diverse backgrounds, teaching professionals, potential employers and others who hold an extensive experience in their respective field.
  • Gaining dynamic and practical oriented knowledge: Pursuing MBA from foreign will teach students how to deal with modern and contemporary business problems and gain an edge on advanced business management techniques with their extensive case study based courses curriculum.

 Exams

GMAT – The Graduate Management Admission Test is taken by all those who want to study MBA or business or management related courses. The aspirants are gauged on English, mathematical, and reasoning skills. Almost all the foreign business schools require applicants to have a legitimate GMAT scorecard.

GRE – The Graduate Record Examination is taken by students applying to graduate schools globally to pursue MBA. Many top international business schools require applicants to have a legitimate GRE scorecard.

Which country is best for MBA?

United States of America

Considered as the financial and business hub of the world, the USA always popped in the minds of every MBA aspirant contemplating over which country is best for MBA. Chances of getting selected in a reputed firm as more than half of the companies listed in the Fortune 500 are situated in the USA. The coherent USA management program teaches students how to handle various challenges and run and manage industry successfully.

Apart from the above mentioned points the curriculum also gives an exceptional scope of networking, self growth and further education opportunities making USA one of the most likely answers when a student is pondering upon which country is best for MBA?

Top B-Schools:

  • Harvard Business School- 54 lakhs
  • Stanford University- 62 lakhs
  • ]The Wharton School- 60 lakhs
  • Sloan School of Management, MIT- 48 lakhs
  • Booth School of Business, University of Chicago- 58 lakhs

Basic requirements for pursuing MBA in the USA:

  • Three to four years bachelor’s degree
  • GMAT scores between 800 to 720
  • Proof of English Proficiency (TOEFL/IELTS)
  • Most of the universities require/recommend a minimum of two-three years’ work experience

Job prospects after graduation: The graduates can land posts in reputed MNCs and firms like Apple, Google, Microsoft, Johnson & Johnson and General Motors with top leadership job profiles in Sales, finance and industrial management sectors.

 Average packages: overall salaries after complete their MBA in the US average an impressive US$120,900 with average bonuses of US$18,800,

Cost of Studying: 20 lakhs to 60 lakhs per year

Cost of living: 15 lakhs per year

Stay-Back period: 3 months (with 1 month visa extensions if applicable)

Germany

Germany is one of the world’s strongest and stable economies. And the business sector here is a testament to the quality of B school in the country. They benefit from the rich and glorious academic laureates and visionaries of the country making it an obvious choice for any MBA aspirant looking for a safe and stable career making Germany the answer to which country is best for MBA questions. Germany is home to businesses including Mercedes-Benz, BMW, Siemens, Deutsche Bank and Bosch.

MBA colleges in Germany offer various types and specializations which are unique and equip students with the most adequate skill set for the coming years. Dual MBA, Executive MBA and media theory Marketing are some of the popular courses.

The dwindling native youth population opens countless employment and further educational possibilities and the heart of the German economy, its automobile and finance sector require young and innovative leaders on a regular basis making it the perfect choice for an Indian aspirant thinking about which country is best for MBA.

 Top B-Schools:

  • Manheim Business School- 33 Lakhs
  • ESMT Berlin- 45 Lakhs
  • WHU – Otto Beisheim School of Management- 36 Lakhs
  • HHL Leipzig Graduate School of Management- 52 lakhs
  • Frankfurt School of Finance and Management- 28 Lakhs

Basic requirements for pursuing MBA in Germany:

  • Three to four years of bachelor’s degree from a recognised university is required.
  • GMAT score above 600
  • work experience of 2 to 3 years is mandatory for the admission of Indian students in this program.

Job prospects after graduation: Accenture, Bosch, SAP, Siemens, Allianz, Volvo, Porsche, BMW are some of the major recruiters closely followed by the automobile, crypto currency, and finance start-ups of Germany.

Average packages between 78 to 92 LPA

Cost of Studying: 33 to 56 lakhs per year

Cost of living: 12 to 15 lakhs per year

Stay-Back period: 2 months

Australia

Australia has emerged as a hub of major business schools in recent times. Australian business management programs provide students with a combination of practical and technical knowledge, with a focus on improving the students, personal and management skills. 

The emerging and reputed Management schools of Australia have low fees as compared to the institutes of West, making it the perfect choice for an Indian aspirating thinking which country is best for MBA in their tight budgets.

Top B-Schools:

  • Melbourne Business School- 55 lakhs
  • Macquarie Graduate School of Management- 34 lakhs
  • ANU College of Business & Economics- 24 lakhs
  • Deakin Business School- 49 lakhs
  • La Trobe Business School- 19 lakhs

Basic requirements for pursuing MBA in Australia:

  • Three to four years of bachelor’s degree from a recognized university is required.
  • prior work experience of a minimum of two-three years
  • GMAT score above 550

Job prospects after graduation: ANZ Banking, Commonwealth Bank of Australia, Telstra, Wesfarmers Qantas Deloitte are some of the top recruiters of fresh graduates offering high paying management and sales positions.

Average packages: 68 to 89 LPA

Cost of Studying: INR 36 to 57 lakhs.

Cost of living: INR 12 to 18 lakhs

Stay-Back period: between 15 to 24 months

Singapore

Singapore is a small island country in the Asia Pacific region which has gotten the spotlight in recent years due to its growing infrastructure and economy. Singapore is one of the world’s most important business locations in eastern hemisphere and has earned its name as the educational mecca of the due its emerging and reputed Management schools and low fees as compared to the institutes of west, making it the perfect choice for an Indian aspirating thinking which country is best for MBA in their tight budgets.

 Top B-Schools:

  • INSEAD Asia Campus- 67 Lakhs
  • National University of Singapore 37.83 Lakhs
  • Nanyang Technological University 33.34 Lakhs
  • SP Jain School of Global Management 19.24 Lakhs
  • James Cook University (Singapore) 29.42 lakhs

Basic requirements for pursuing MBA in Singapore:

  • Candidates must have three to four years of work experience (may vary according to university
  • International students and non-native English speakers need to present their TOEFL or IELTS scores
  • GMAT or GRE scores of minimum between 700 to 550 depending on university.

 Job prospects after graduation:  DBS Bank and Singapore Airlines recruit many fresh management graduates. Apart from these many MBA graduates in finance and banking are employed in capital holding companies like Wilmar International Thai Beverage Hongkong Land Holdings making Singapore the perfect choice for any aspirant looking forward to a career in banking and finance and thinking which country is best for MBA.

Average packages between 78 to 93 LPA

Cost of Studying: 30 to 50 lakh per year

Cost of living: 10 to 12 lakhs per year

Stay-Back period: 24 to 36 months

United Kingdom

Cities like London are one of the leading finances and banking centers, and other cities of the UK offer excellent opportunities in the manufacturing and retail industry. This echoes in UK business schools’ international reputation through a rigorous academic approach.

The fact that the UK has a strong Indian population base is what makes this country an attractive destination for Indian students, as students traveling from India find it a lot more comforting to be around people with a similar background. Thus, making the UK an obvious answer to the question, which is the best country for MBA.

Top B-Schools:

  • University of Oxford- 70 lakhs
  • London Business School- 61 lakhs
  • Cambridge Judge Business School- 57 lakhs
  • University of Edinburgh Business School- 34 lakhs
  • Alliance Manchester Business School- 49 lakhs

Basic requirements for pursuing MBA in United Kingdom:

  • Applicants must have a recognized undergraduate degree 
  • Applicants should have at least two years of previous full-time work experience
  • GMAT scores above 650 and IELTS percentile above 7.5

 Job prospects after graduation: the banking and corporate sector in Britain has a lot of vacancies due to the recent split from the European Union making the Britain market more liberal and an amazing opportunity for technological and finance start ups to fly.

Average packages: 90 Lakhs to 2.3Cr

Cost of Studying:  INR 40 to 85 lakhs

Cost of living: 12 to 17 Lakhs

Stay-Back period: 2 years

Other popular Countries in the list of which country is best for MBA:

  • France
  • Canada
  • Japan
  • Spain
  • Switzerland

Choosing the right university and country is the first and the most important as it will decide the course of action in your future career path. With this article we hope we helped you in highlighting the important factors and shortlist the top contenders in the list of which country is the best for MBA

We highly recommend MBA aspirants to do a thorough research of their own on the question which country is the best for MBA. Checking a university’s ranking, teaching faculty, course structure, infrastructure, amenities, cost of study, availability of scholarships and further study programs are some of the other important factors to consider before choosing which country is the best for MBA.

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