The perpetual question of “MBA in India vs. MBA Abroad” has bothered MBA aspirants in India since a long time. With more and more number of aspirants joining the MBA bandwagon, it’s time we decode this very important dilemma and solve this mystery once and for all.
There is no doubt that MBA has become the latest rage among the students community, who look at it as the ultimate trump card when it comes to building a lucrative and prosperous career ahead. However, when it comes to MBA, aspirants are often faced with certain dilemmas, which have no simple and clear answer.
One such dilemma that has attracted attention and intrigue of MBA aspirants has been the “MBA in India vs. MBA Abroad”. With more and more number of aspirants joining MBA bandwagon and rising number of MBA institutes sprouting across India, this question has regained the steam again. Another factor which has been a significant factor in fuelling the fire when it comes to was the employability of MBA graduates from Indian B-schools compared to foreign B-schools.
These are some valid and pressing concerns of MBA aspirants, but despite this, there is no clear or simple answer to this. In order to address this, we would have to look comparative analysis of certain factors like cost of the MBA programme, future plan or career path that the aspirant wants to pursue, industry exposure, job prospects and pay packages offered to aspirants.
This is one of the biggest factors, which might affect the prospective MBA aspirants to sway their decision when it comes to MBA in India and Abroad. Generally speaking, the MBA in India cost is relatively less, when compared to MBA Abroad.
For instance, MBA in India from premier institutes like IIMs or ISB would cost aspirants around Rs 10-15 lakhs, the cost for same in reputed institutes abroad like Harvard or Wharton would set your pocket back by Rs 30- 50 lakhs. Even when it comes to less popular institutes,
In addition to this, the cost of living is another factor, which aspirants looking to pursue MBA Aboard must keep in mind.
However, to make matters simple, if you have the finances and are presented with a choice between MBA in India and MBA Abroad, you should choose the latter.
The second and probably the most important factor that should be considered while deciding between MBA in India vs MBA Abroad would be the future career path that aspirant wants to take up after their MBA. When we consider MBA, it is an academic programme that is aimed at honing the managerial and business skills of students.
Considering that markets in different countries have different orientations and working principles. MBA programmes offered in different countries are tailored to suit these requirements. Therefore, it is very important for MBA aspirants to consider, where would they like to work and settle down before picking between MBA in India and MBA Aboard.
On similar lines, the peers and contacts that you make during your MBA programme, which make a big difference to your career, are also more inclined to join international business organizations. So, do keep this in mind before you take the plunge.
The biggest pitch that premier international MBA institutes have to attract Indian MBA aspirants has been the superior education quality. While to an extent this statement holds true but it should not be accepted at face value. In the last decade or so, top B-schools in India has upgraded their syllabus, curriculum as well as teaching pedagogy to meet the standards set by their international counterparts.
There is still a major difference in the facilities available at Indian B-school when compared to B-schools aboard, but that is just one of the minor factors and not big enough to sway your decision in favour of international B-schools.
Apart from this, aspirants should also understand that not every foreign university or institute offer the same quality of education. Therefore, a final decision should be taken keeping all these aspects in mind.
This is another important differentiator which takes the discussion of MBA in India vs MBA Abroad in the favour of latter. Although internships are considered by many premier institutes as the part and parcel of MBA training, it is not accepted as an industry standard.
Many small and upcoming B-school often ignore
this factor, which robs MBA students of an excellent opportunity to understand management theories and tactics that they are being taught. In fact, even for the B-schools which arrange for internship opportunities for students take it lightly.
As discussed above, Indian businesses have a tendency to treat MBA from foreign universities as a stamp of skills, expertise and intelligence. Therefore, candidates having foreign degrees are placed at a better position and command a higher pay package over their Indian counterparts.
On the other hand, if you are an MBA from a comparatively less renowned institute, you will have to start at the bottom of the food chain and you will have to claw your way up with the help of your skills and talent. The upside to this phenomenon is that by the time you reach the top you would have honed your skill and would be completely ready to handle the task at hands.
On the other end of the spectrum,
This often puts them at a disadvantage as they are unable to justify their hefty price tag or the position.
But, irrespective of where you acquire your MBA degree from, it can only help you given that initial push to land your dream job, but when it comes to moving ahead, you will have to apply your skills to do that.
As stated at the beginning, there is no simple and clear answer to the issue of MBA in India vs. MBA Abroad. However, aspirants who are confused about it should consider the five major factors listed above before taking a final call.
Bon Vivant for an MBA Degree!!
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