Here is a brief on the various factors that a student may consider while choosing a business school for pursing management degree – MBA in India or Abroad (USA / UK / Others).
The important factors covered here are – global recognition of the MBA degree a school provides in terms of career, the impact of cost involved, the job perspective and the overall experience of studying in these schools.
Indian business schools have been gaining global recognition in the past few years, and graduate students from overseas are joining these elite Indian schools.
The IIMs and ISB are well recognised and are ranked in the top 50 MBA schools for 2012 (The Top 100 Business Schools – 2012 – Financial Times)
However, comparatively, the overseas schools, that of US & UK, have traditionally more hold in the international job market and have majority of schools in the top 50 and top 100 rankings.
Students who wish to make a career outside India viz., US or Europe, it is important to consider this above point. Companies in these countries prefers students who are from these top ranking schools.
For students who wish to pursue their careers in India, an MBA from a top-tier Indian b-school would be a good decision.
Cost is an important factor, especially when students are at the cross-roads of choosing either an overseas or Indian school.
An MBA in India would cost a student between 5-20 lacs in the top ranked schools.
The cost and living expensive are naturally higher overseas. However, the good thing is that most of the overseas schools offers scholarships, which covers a good percentage of the fees.
Students can also take up jobs to fund their studies at overseas.
Another benefit, especially in UK, is that most of the universities offer MBA in 1 year. This not only saves on the fee and living expenditure, but also puts you back in job market faster with just a year break, thus opportunity to recover the cost on education is faster.
One condition in it is that the students opting for 1 year courses need to have higher work experience.
Job opportunities for an MBA fresher in India begins from the college campus, and most of the top ranked schools have good campus placement with top companies.
MBA in India, thus gives a sense of security for students, plus a job in a reputed company is a big boost to their career profile.
Campus placement is much less overseas and one has to work her/his way to getting in to the industry.
This would need the student to take own initiative and effort to get job, though student could tackle this, as they are equipped with an international management degree.
Majority of the students joining management schools across India come with little or no work experience. Hence, peer networking and experience sharing, which is an important factor in knowledge enhancement on real world, is lacking.
While, a major chunk of students in top ranked international b-schools come with at least 4-5 years of working experience.
The field of experience also vary viz., finance, IT, Media and working in different capacities and countries viz., entrepreneurs, IT professionals, sales and marketing managers etc,.
What this means in a classroom environment is – real life experience sharing with diverse personalities and fields, helping one to understanding management functionality in a broader spectrum.
The teaching faculty too in international top ranked b-school come with rich experience hailing from across different countries and economies.
All this helps a student gain immense knowledge on global trends and going ons in management field, and they are able to recognise these challenges and work on it from the very start of their professional career. Especially, the ones who prefer a career in Europe, US or top MNCs in India.
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