Worth It: The Path to an MBA Abroad … and Beyond
Before deciding to study in a particular country, it would be worthwhile making a survey of the job opportunities in and around that can be pursued post-MBA, the various work visa related procedures involved, the assistance received from the bschool careers team.
In short, a survey that would help you figure out what your chances and odds are in securing employment at the end of your MBA journey. The traditional 2-year Indian MBA programs usually take in fresh graduates without any work experience. The main requirement is a good score in the entrance tests. This is followed by the rounds of group discussion and personal interview. In case of international programs, especially the top ones, the entry criteria are more complex and competitive since there are applicants from other countries vying for the same seat.
The applicant needs to produce high quality essays and recommendations along with coming up with a high GMAT score.
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Shortlisted candidates are usually required to go through an interview round. Applicants can leverage their previous work experience to produce stellar MBA essays or get high quality recommendations from colleagues or bosses that have a big role in the decision making process during MBA admissions. Those applying to the US MBA programs have on an average around years of pre-MBA work experience while candidates who apply to the UK and Europe based programs have an average work experience of years.
Read this article to get more inputs on work experience requirement for MBA abroad. Learning from an MBA program is through various methods including lectures, case studies as well as group assignments. Students are required to participate and make their contribution, whether it involves finding a solution to a problem or tackling a case study. A lot of learning is derived from the varied perspectives shared by batch mates, so you come across more efficient ways to deal with a complex problem or a difficult business situation.
Read more on how the top MBA programs manage classroom diversity. Lastly, we come to the most important deciding aspect — the program fees. Often, this can be the deciding or restricting factor. However, to this figure we need to add the taxes, accommodation charges, cost of meals, books and course material and other related costs which would take the total cost close 30 lakhs or even higher depending upon the program you choose. The average salary would be in the range of 28 lakhs.
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International programs, especially the good ones come very expensive. The cost of living, travelling and related expenses together make it an exorbitant option.
To this, you need to add the cost of living, medical insurance, books and transportation. The cost of living would be lesser for the one year programs. These costs would also vary depending on the city you live in. Some of the reputed programs can help you land a well-paying job which would put you in an excellent position in terms of ROI.
Various education loans , scholarships and graduate assistantships are available that help ease the financial burden. A lot of scholarships are merit or need based. A good read. Thanks for the insights. I have one question. I have completed my MBA in India but want to do a second one from an international university. I prefer one year courses over two years and Europe over USA. I did a lot of research and found that most European colleges offer a one year MBA, but it is slightly difficult to find a job there when compared to US.
I mean it is a big investment of time and money for someone like me who is close to 30 and already working in a decent job. I prefer Europe because I want to work and stay there, but the job market in Europe is making me a bit worried. Can you please advice on this? Hi sameer, I have competed my B. I want to pursue MBA without work exprience. Is it favourable to get admissions and jobs after MBA even without work exprience?
What should I prefer India or Abroad? Abhimanyu: Your concerns about getting a job in Europe are justified. The risk of study abroad and trying to find a job after graduation will continue to carry risks. Wait for a few years and gain some good experience. I have done Bsc Hons. I have been working for the past 3 years in the financial services sector.
Even if you study for a part-time executive MBA, fees are expensive and an extraordinary degree of self-discipline is required, not to mention a sympathetic family to boot. Whether you agree or not, many people equate success and even happiness to their pay packet. MBAs are primarily for those seeking to switch careers typically into finance or consulting roles or for progression within an already established career.
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The MBA curriculum seeks to provide corporations with candidates of the required managerial skill needed to run them. Some will be part of your faculty and others specially invited to share their wealth of experience and knowledge with you. Your tutors and guest speakers are likely to be key personalities in their field and will bring with them a network of contacts for you to utilise. Fellow students will greatly extend your professional network; some of the students on your MBA course will be successful later in life, and the field of work that their success lies in will vary from person to person.
Forming professional and personal bonds with these people may prove invaluable in your future.
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MBA providers specifically seek to recruit graduates with a variety of degrees and working backgrounds. Whether or not for good reason, MBAs have come under some fire recently. The main argument against the MBA seems to be that the institutions that provide them are unable to evolve fast enough in response to the dynamic business world. Desautels MBA changed my life for the better. Next page: Is it better to study an MBA abroad?