Pursuing an MBA abroad would give a student practical knowledge, better work opportunities, and options for Permanent residency in countries like Canada, Australia, and New Zealand - Shiksha expert Prasanna Acharya
Are you one of those who are dreaming of enhancing a career in the future? Then this article will brief you about the top 5 countries to study MBA in Abroad focusing on different facts and figures. By going through the details you can conclude which for you is the best country for MBA.
Why Study MBA in Abroad?
Here are some top reasons to study MBA in foreign countries:
- International Exposure: Students who enrol in MBA colleges abroad have the exceptional chance to learn and work in a diverse environment, broadening their view of the business world. Students may have the opportunity to engage with a varied student body and learn from an international faculty when they study abroad.
- Job Opportunities: Strong industry contacts are a common feature of MBA in foreign countries, providing students with chances for international networking, internships, and job placements. An MBA abroad can be a terrific approach to acquiring cross-cultural competencies and enhancing language proficiency, both of which are highly regarded by employers.
- Networking: The opportunity to travel and see different cultures while earning an MBA can be a life-changing experience. Students can also develop a useful network of contacts that can help them in their professions.
Overall, for those looking to broaden their knowledge and skills in a global setting, studying in an MBA abroad may be a highly rewarding experience. Students should carefully consider all available MBA programmes and locations before selecting the one that best suits their objectives, aspirations, and interests.
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MBA Abroad Highlights
Before we move on to the best countries for MBA, let us get an overview of MBA in abroad with the help of the table given below:
|Details of MBA in Abroad
|Number of Universities Offering MBA Abroad
|Average Cost of MBA in Abroad
|USD 60,000 per year + Living expenses based on location and lifestyle
|Top 5 Universities for MBA Abroad (QS Global MBA Rankings 2023)
|Top Specializations for MBA in Abroad
|General Management, Marketing, Human Resources Management, Finance, International Business Management, Operations Management, Supply Chain Management, etc.
|Admission Requirements for MBA Abroad
|Bachelor’s degree + GMAT or GRE + Statement of Purpose + Letters of Recommendation + Admission Essays + English Test Scores
Top 5 Countries to Study MBA Abroad
Which country is best for MBA? Some of the best countries to for MBA include the USA, the UK, Canada, Australia, New Zealand, and Germany, just to name a few. Here are the details of the top 5 countries to study MBA abroad.
The United States of America is at top of the list of top 5 countries to study an MBA abroad. The USA has some of the world’s top-ranked universities that offer the best Master of Business Administration programs to international students. The duration of the program is around two years, which also includes an internship during the summer.
1st-Year Average MBA Tuition Fee in the USA
Rs. 40 lakh
Average Median Salary After MBA in the USA
Top MBA Universities in USA
- Stanford Graduate School of Business
- Harvard Business School
- Penn (Wharton)
- MIT (Sloan)
- Columbia Business School
The United Kingdom is second on the list for studying MBA Abroad. As per the Global Financial Centre Index report, London is ranked as the world’s most competitive financial centre. Many of the top B-Schools in the UK are located in the capital like London Business School, the London School of Economics, UCL, etc.
1st-Year Average MBA Tuition Fee in the UK
Rs. 25 lakh
Average Salary After MBA in the UK
Top MBA Universities in UK
- London Business School
- Chicago (Booth)
- Oxford (Said)
- Cambridge (Judge)
- Imperial College Business School
In the third position, there is another North American country i.e. Canada. Top MBA Universities in Canada are known for their quality business programs. In fact, six out of the top 100 Business Schools in the World are located in the country by QS Global MBA Ranking 2023. Canada regularly becomes the major choice among Indian Students to study MBA Abroad.
1st-Year Average MBA Tuition Fee in Canada
Rs. 35 lakhs
Average Salary After MBA in Canada
Top MBA Universities in Canada
Now we have another English-speaking destination for MBA abroad i.e. Australia. Australian universities offer an affordable MBA program to international students with other opportunities. Australia has a strong Indian community, similar weather to India, and a relaxed student life.
1st-Year Average MBA Tuition Fee in Australia
Rs. 22 lakh
Average Salary After MBA in Australia
Top MBA Universities in Australia
- Melbourne Business School
- UNSW (AGSM)
- Monash Business School
- Macquarie Business School
- UQ Business School
Germany is known for its electrical and automotive industries. It has a technology-driven and innovative economy. Popular public B-Schools in Germany are one of the best choices to study the Master of Business Administration program. Students get a chance to work with international organizations like Mercedes-Benz, BMW, Siemens, etc.
1st-Year Average MBA Tuition Fee in Germany
Rs. 16.55 lakh
Average Salary After MBA in Germany
Top MBA universities in Germany
- Mannheim Business School
- Frankfurt School of Finance & Management
- WHU (Otto Beisheim)
- ESMT Berlin
- EU Business School
MBA in Abroad Eligibility
- Students who wish to study the MBA program from abroad universities need to meet the eligibility criteria mentioned by the universities. Students must have a bachelor’s degree from a recognized university for studying Master of Business Administration program from abroad.
- Academic Requirement: Complete a full-time bachelor’s degree from a reputed university or college. Score good marks to get admission to top-ranked MBA universities abroad.
- Exams Required for MBA Abroad: GMAT and GRE are the standardized exams accepted by abroad universities for MBA Admission. IELTS, TOELF, PTE, etc. are the popular Language proficiency exams required by foreign students.
- Application Requirements: Applying for an MBA in abroad universities requires a Resume, a Reference Letter, and Essays as declared by the university.
- Application Process: Course/ country selection, profile evaluation, university selection, documents required, etc. are the major steps that students need to follow to complete the application process.
For application-related assistance, you can reach out to our study abroad counsellors, who can help evaluate your profile and provide you with a shortlist of universities, thereby assisting in the entire application process until visa filing. All the best!
Best Countries for MBA Abroad FAQs
Q. Which country is best for MBA?
A. The United States is frequently rated as one of the top nations for earning an MBA. The US has a large number of top-ranked business schools and provides many opportunities for networking and career advancement. Canada, Germany, the UK, Switzerland, France, and Australia are a few additional locations that are commonly touted as top choices for MBA study abroad programmes. In the end, the best nation for an MBA will rely on personal preferences, career objectives, and programme fit. To find the one that best suits your needs and circumstances, it is necessary to extensively examine each country's offerings, including rankings, employment options, fees, and personal preferences.
Q. Is it worth studying MBA in foreign countries?
A. Making the choice to pursue an MBA abroad can be challenging and depends on a number of aspects, such as your career ambitions, personal circumstances, and financial resources:
- Career Opportunities: The chance to expand your horizons and build a worldwide network is one of the most significant benefits of taking an MBA abroad. Many MBA programmes offer overseas placements and internships, which can broaden your professional network and give you important experience working abroad. Additionally, becoming exposed to various business practices and developing your cross-cultural awareness can both benefit from studying abroad.
- Institute Rankings: It is crucial to pick an MBA programme that is well-known and respected all around the world. A prestigious education can enhance your resume significantly and open up long-term work prospects. Additionally, you can have access to tools for professional development like alumni networks, career services, and business alliances.
- Exposure: Students who pursue an MBA overseas are exposed to various business procedures, cultural customs, and corporate structures. This can give students insightful knowledge about how business is conducted around the globe and prepare them for leadership positions in multinational corporations.
- Cultural Awareness: Students have the chance to learn more about various cultures and customs by enrolling in a foreign MBA programme. This can enable students to engage more productively with customers, coworkers, and other stakeholders in global organisations by helping them understand how cultural differences affect business.
Q. Which are the best countries for MBA abroad besides the US?
A. There are various nations that provide top-notch education and a variety of options for individuals looking to pursue an MBA abroad. Here are some of the top nations for MBA study abroad, along with some of their distinctive characteristics and important considerations:
- UK: The United Kingdom is home to some of the finest business schools in the world, and its universities are renowned for their academic brilliance in business and management courses. In the UK, MBA students have the opportunity to explore world-class cities like London and Edinburgh as well as a rich cultural heritage. Cambridge, Oxford, and the London Business School are a few of the finest universities in the UK that offer MBA programmes.
- Canada: In comparison to the US, Canada has more inexpensive tuition and a well-known standard of living. It also has a highly developed and stable economy. The University of Toronto, McGill University, and Rotman School of Management are just a few of the top universities in the nation that provide MBA programmes. Canada is renowned for its cutting-edge infrastructure for research and development, which helps students get high-paying positions in the technology and innovation industries.
- Singapore: With one of the most dynamic international business scenes and a highly linked global economy, Singapore is a desirable location for MBA students. The nation is renowned across the world for its highly trained workforce, world-class colleges offering top-notch MBA education, and a wide variety of employment prospects. The National University of Singapore, Nanyang Business School, INSEAD, and Singapore Management University are a few of the best universities in Singapore that offer MBA programmes.
Q. What are the admission requirements for MBA in abroad?
A. The following points provide admission requirements for MBA in abroad:
- Undergraduate Degree: Completion of an undergraduate degree in any field, with some universities requiring coursework in a subject area closely relevant to the specialisation.
- Work Experience: Usually, top MBA colleges abroad require 2-3 years of work experience.
- Test Scores: Students are usually expected to provide GMAT or GRE scores for seeking admissions in MBA abroad. Many B-Schools might waive off this criterion if students have good work experience (usually at the UK universities).
- English Test Scores: Students, who belong to non-English speaking countries, are expected to provide test scores of English language tests such as those of IELTS, TOEFL, PTE, etc.
- Application Documents: Application documents for MBA abroad include a statement of purpose, letters of recommendation, admission essays, an updated resume, etc.
Q. Which are the top MBA specializations abroad?
A. MBA programmes provide specialisations in a range of disciplines, including, among others, finance, marketing, HR, IT, and digital. The hobbies and career goals of each student will influence their choice of specialisation. Before making a choice, it is advised that students conduct an in-depth study on the MBA specialisations that are provided by various foreign colleges and their employment prospects. Students must examine the economic and job market conditions of the nation, province, city, etc. where they are located in addition to their interests.
Q. Which are the best MBA colleges in abroad?
A. There are numerous famous MBA colleges abroad that offer students unmatched chances and a top-notch education. Harvard Business School, Stanford Graduate School of Business, University of Pennsylvania Wharton School, INSEAD, London Business School, MIT Sloan School of Management, and Columbia Business School are a few of the top MBA schools in the world. All of these universities focus on creating leaders who can successfully manage the complexity of the global business environment, while each has its own approach to business education. Before choosing an MBA programme, prospective students should examine a number of aspects, including location, reputation, curriculum, and chances for career progression.