Whether to do MBA in India or abroad is one of the most crucial questions that haunts a large section of the candidates. On one side there is the India Management Institutes in which the good ones are very tough to get into a while on the other is the less economical alternative of doing it from an institution abroad which requires large heaps of money but comparatively easier to get into.
An MBA from a foreign university is very helpful in understanding business from an international perspective. This is very advantageous if you want to work abroad after your graduation. Also, most foreign b-schools tend to have a large diversity in their student class so you benefit from understanding different cultural viewpoints and perspectives. The foreign MBA colleges will also have better infrastructure and better professors. The post-degree pay package of an US or European MBA will be higher than an Indian MBA because of the currency difference.
An Indian MBA will help you gain business related knowledge pertinent to the Indian market. An Indian MBA will be significantly cheaper and you will be able to pay back your student loan much faster. If you wish to work in India after your degree, this is preferred from both knowledge as well as economical perspectives. While MBA in an Indian institution like IIM will cost around Rs. 10-15 Lakh the abroad option will cost around Rs. 30-50 Lakhs. But so is the difference in the returns, since the income is going to be in foreign currency you’ll surely earn much more in comparison to India.
The ranking of the colleges you are targeting will also influence your decision. If you are looking at the top-ranked US colleges like Harvard, Yale, Stanford or EU colleges like London Business School, then these are the best options and you will be considered as one of the best in the world. If you have to choose between a top 10 international b-school vs a top 10 Indian b-school, then a top 10 international school will be a better choice. If you have to choose between a top 10 Indian b-school like one of the IIMs vs a medium tier US / EU b-school, then an IIM will be a better option. If you wish to choose between an average Indian MBA degree and an average foreign MBA, then you need to make a choice based on the points above like MBA fees, preferred country of work and post-MBA salary.
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