Top 6 Best Countries to Study MBA Abroad

Best Countries to Study MBA: Masters in Business Administration (MBA) degree is a postgraduate level program which will open up global opportunities in your career. Being one of the most widely studied courses in the world, a comprehensive MBA curriculum will give you a strong foundation in business fundamentals such as marketing, accounting, managerial skills, strategy, business ethics and human resources.

Pursuing an MBA abroad offers many benefits that can have a significant impact on your personal and professional development. From access to top-ranked business schools and exposure to diverse perspectives and cultures, to expanding your professional network and gaining international work experience, the advantages are undeniable.

Why do MBA from abroad?

1. Attractive Package: Barring a few IIMs and top B-schools, the average salary offered to an MBA graduate from a recognized B-school foreign university is much higher than that to an MBA graduate from an Indian B-school.

2. Bright Career Prospects: An International MBA degree can propel you into CEO/CXO positions or top entrepreneurial roles.

3. Gain Advanced Knowledge: Doing an MBA abroad will teach you to tackle new-age business problems and gain an edge over advanced business management techniques.

4. Networking Opportunities: If you are pursuing your MBA abroad, you will have various opportunities to network with students from diverse backgrounds like teaching professionals, potential employers and others with extensive experience in your respective field. Such a dynamic network will help you unlock promising opportunities in the future.

Selecting the right university and country is first and foremost as it will decide your career direction. Keep these few points in mind:

1. Check university ranking and international recognition,

2. Course structure,

3. Teaching faculty,

4. Infrastructure and facilities,

5. Estimated cost of study,

6. Availability of scholarships

7. Post-study opportunities.

Eligibility for MBA in Top 6 Study Destinations

1. Australia: MBA studies in Australia require a three to four year undergraduate degree from a recognized university. You may be required to show prior work experience of at least two-three years, depending on the chosen university and course specialisation.

2. Canada: Any student who wants to pursue MBA from Canada must have a bachelor's degree from a recognized university. In some cases, they may be required to show three years of full-time work experience.

3. New Zealand: To be eligible to study MBA in New Zealand, you must have a degree from a recognized university along with three to four years of work experience.

4. Ireland: To be eligible to study MBA in Ireland, you must have a degree from a recognized university along with a minimum of three to five years of work experience.

5. The UK: Students who have completed a three-year bachelor's degree are eligible to apply for MBA program in UK. Most UK universities require a minimum of three years full-time managerial work experience.

6. The USA: The most basic requirement for an MBA in the United States involves the completion of a bachelor's degree comprising a total of 16 years of education. If you have completed your master's degree, you can still apply. In case of Executive MBA, prior work experience of between two to ten years is mandatory.

Entrance Exams Required to Study MBA Abroad:

It is important to clear GMAT or GRE with good score to pursue MBA in any international university. While the GRE and GMAT can be attempted a maximum of 5 times in 12 months, the GRE can be taken once every 21 days and the GMAT once every 16 days. GMAT tests a student's ability in analytical writing, integrated reasoning, quantitative aptitude as well as critical reasoning and sentence correction.

An IELTS score of 6.0 to 6.5 is required to prove your proficiency in the English language, and is mandatory in all study MBA destinations.

Cost of studying MBA per year: 

Australia: AUD 39,000- AUD 90,000 (Approx.)

Canada: CAD 30,000 - CAD 42,000 (Approx.)

New Zealand: NZD 31,000-NZD 50,000 (Approx.)

 Ireland: €9,950 - €34,500 (Approx.)

 The UK: £5,000- £30,000 (Approx.)

 The US:  $10,000-$35,000 (Approx.)

Note: Please note that the above mentioned all costs are indicative.

MBA Course Duration:

Australia: Australian universities offer MBA programs for durations ranging from 18 months to 2 years.

Canada: The duration of the course can be between 10 months to 2 years, depending on which MBA program you choose in three categories:

Specialised

Generalized

Combined

New Zealand: Typical course duration is approximately 12 months.

Ireland: It will take you one year to earn MBA degree from Ireland.

The UK: MBA programs in the UK usually last only for one year.

The USA: A full-time MBA program takes 2 years and four semesters of course to complete. A one year MBA program is a viable option if you want to acquire the desired professional skills in a short span of time.

Scholarships are Available for Indian Students:

To help students be financially comfortable during their stay in these countries, there are many scholarships available. Some of the most popular include:

Australia: Australia Awards Scholarship

Canada: Quebec Provincial Government Scholarship,

New Zealand: New Zealand Commonwealth Scholarship, Palmerston North City Mayor's Goodwill Ambassador Scholarship, New Zealand Excellence Awards (NZEA)

Ireland: Government of Ireland International Education Scholarship. NUI Galway International Student Scholarship (Max Arthur McAuliffe Special Merit Scholarship, Sir Peter Freer Special Merit Scholarship)

UK: The Chevening Scholarship, the Commonwealth Scholarship, and the Charles Wallace Scholarship.

US: Foreign Fulbright Student Program, Humphrey Fellowship Program.

Top Career Options After Completing MBA From Abroad:

An International MBA degree will open up your career prospects to a great extent and you can choose your preferred line of work be it Marketing, Finance, Operations or Technology. You can find your niche in the industry as a Brand Manager, Product Manager, Marketing Research Analyst, Business Analyst, Marketing Manager, Financial Analyst, Chief Financial Officer, Data Processing Manager etc. In fact, if you are good at your practical knowledge then you can possibly land in a top management position in a global company.

MBA is considered one of the most lucrative degrees across the world and has immense career prospects. Not surprisingly, students work hard to get admission in good B-schools and universities to give wings to their dreams and enjoy their ROI. If you want to advance your career with the right degree, then gear up and prepare yourself for admission in the foreign university of your choice.