MBA : India or Abroad?
posted at May 20, 2022, 3:58 p.m.
As more individuals want to grow in the job sector, they tend to gravitate towards masters that will help their progress and build them a successful career. MBA is the most sought-after degree in the world to advance your corporate career. While the top business schools across Western countries boast of competitive offerings in their degrees, Indian MBA schools are steadily grabbing ranks in the top 50. This creates a concerning dilemma for an Indian student - to go vocal for local or to hit the road?
Before you answer this question, here are the three things you should consider:
MBA from a top-tier Indian university can lead to a strong career progression. This will cater to a career that will be India-centric. It will be advantageous for an individual to work for companies that wish to understand and establish themselves in the Indian market. This prospect will be an excellent development for a person in the corporate sector as many big multi-national companies have come to the Indian market to expand over the years. This has elevated many many corporate roles in India to new heights. Many Fortune 500 companies would like a leader who has and understands international orientation. They would want employees who have a global viewpoint and come from a university that has a significant brand value. All of this can only be achieved through an MBA abroad as compared to MBA programs in India.
Return on Investment (ROI): How would you measure this? The first would be to understand the initial investment such as the tuition fee. In a foreign university, the initial investment will be high compared to an Indian institute. On average, an MBA abroad would cost between Rs. 67.17 lakhs to INR 1.04 crore and an MBA in India would cost between Rs. 7.5 to 25 lakhs. Then you would need to calculate the opportunity cost perspective. You will also have to calculate the time it will take you to pay back your student loans after you graduate. If you complete your program from a top-tier Indian institute you can ROI would be positive once you start earning. For example, if you were to get a job after graduating from a tier 1 or 2 college then your initial salary would be somewhere between 24-28 lakhs per annum. This would help you pay back your student loan for your tuition of 15-23 lakhs within 3-4 years. If you choose to do a one-year MBA program (only offered abroad) then the ROI becomes even more positive as you get an MBA degree in a smaller time frame and can pay back your student loans with ease.
Miscellaneous elements: One of the elements is the difference in the pedagogy of institutes in India vs abroad. For example, Harvard has its own Havard business style of teaching. They have designed many successful programs based on this. Similarly, many institutions across the globe have been innovative in their style of thinking and teaching. Indian institutes in comparison are not always at par with innovative ideas or experience. A foreign MBA also gives more global exposure and an international career. Many good MBA institutions abroad boast of having world-renowned faculty.
With a flourishing entrepreneurial culture and a booming tech sector, India has become an attractive destination for people to work in. Obtaining an MBA from India has its own advantages now. Top schools like SP Jain, Xavier's, IMT Ghaziabad, IIMs, ISB, IITs, XIME, and TISS deliver students with very high potential and caliber to succeed in the business world. Job opportunities are created with the advent of new technologies and the Indian market grabbing the attention of many MNCs. Students from these top colleges are not only equipped to succeed but are also groomed to be future leaders in the corporate world.
Still unconvinced? You can always reach out to us at (https://bit.ly/free_profileevaluation) for any further questions. Remember to choose your sources of information wisely. At Gradvine, you can speak to master's students and graduates from the finest global universities to help you with your application queries.