MBA Abroad for Indian Students 2024: Top Universities, Syllabus, Salary, Career Path

About Masters in Business Administration Abroad

In 2024, MBA is the degree with the highest employability rate of 71% (compared to other streams of study).

This makes Master’s in Business Administration (MBA) a preferred postgraduate degree. But an MBA is not just highly valued in the Indian job market, but globally too.

Getting an MBA from a top global university boosts the career potential manifold. That’s the key reason why Indian aspirants prefer to get an MBA abroad.

In this article, you’ll find all the information you need about an MBA abroad.

Top countries to study MBA abroad

Universities in almost every country in the world offer MBA programs. However, we will focus on the top countries, which are selected based on the number of MBA schools they have in the Top 100 QS Global MBA rankings. Other factors like the economy and potential job opportunities are also considered. These are the top five countries for Indian students to consider.

United States

The USA is home to 43 out of the top 100 MBA colleges like Stanford, Wharton, and Harvard. The two-year programs often include internships, offering extensive career and networking opportunities.

United Kingdom

With London as a financial hub, the UK is ideal for MBA students. The country has 8 out of the top 100 business schools like London Business School and Imperial College. 

France

France, with its strong business education legacy, is home to 7 of the top 100 MBA universities. Some renowned schools include HEC Paris and INSEAD. Plus, Paris provides a strategic location for European business connections.

Canada

Canada’s reputation for quality business education and abundant job opportunities makes it a top choice for MBA aspirants. The country boasts six schools ranked among the top 100 globally, including prestigious institutions like the Rotman School of Management at the University of Toronto and the Desautels Faculty of Management at McGill University.

Australia

Australia’s strong entrepreneurial culture and proximity to Southeast Asia enhance its MBA appeal. Leading schools like Melbourne Business School and UNSW are among the 5 Australian B-schools in the top 100.

Other countries preferred for MBA studies include Germany, Spain, and Singapore. These countries also offer excellent programs. Plus, their robust economies and vibrant business landscapes offer favorable career prospects.

Top universities in the world for MBA

A 10-year ROI of up to 325% is expected for MBA alums who graduate from top-ranked business schools. 

That’s not the case with every B-school though. Thus, the university you choose for your MBA significantly impacts your prospects.

Here are the top universities for MBA studies from each of the top countries.

Note: The ranking and score are based on the QS global MBA rankings. QS uses its metrics to compile the global rankings. The key factors considered include employability, entrepreneurship, ROI, thought leadership, and diversity. 

Each of these universities is known for excellent academic standards and placement records. They also boast of industry connections and strong alumni networks, thus making them top choices for Indian students aiming to pursue an MBA abroad.

Note: With literally hundreds of amazing universities to choose from, you can feel overwhelmed. That’s why SelectRight is here to help. Start by setting up your profile with your personal details and educational history. Outline your needs, and get AI-powered matches tailored just for you. Compare programs based on costs, rankings, and other crucial factors. Plus, talk to an advisor to get personalized advice and help with your applications. Register on SelectRight today and find your best-fit university for Spring ‘25 effortlessly.

CTA – Sign Up on SelectRight

Course curriculum and specializations for MBA

MBA courses and curricula vary significantly based on the university and country. However, there are common subjects taught across most MBA programs. These subjects form the foundation of business management and help develop must-have skills.

Typically, the first year of an MBA program covers these core subjects. In the second year, students choose a specialization. Popular MBA specializations include:

1. Finance
2. Marketing
3. Consulting
4. Entrepreneurship
5. Operations Management
6. Information Technology
7. Human Resources
8. International Trade
9. Supply Chain Management and Logistics
10. Project Management

These specializations help students tailor their MBA to match their career aspirations. 

Eligibility for studying MBA

Eligibility criteria for MBA programs vary between different universities and countries. However, we will outline the general eligibility requirements commonly expected by most institutions.

Academic Requirements

• Past Academic Record

• • • A bachelor’s degree from a recognized institution with a good academic standing.
    • Some universities may specify a minimum GPA requirement, usually 3.0 or higher.

• GMAT Score

• • • Most top MBA programs require a GMAT score. The required score typically ranges from 600 to 750.
    • Some universities also accept GRE scores as an alternative.

• Language Proficiency Tests

• • For Indian students, TOEFL or IELTS are often required to prove English proficiency. Minimum scores vary but generally range from 90-110 for TOEFL and 6.5-7.5 for IELTS.
  • Universities in countries like France require you to take French proficiency tests too.

Documentation Requirements:

• Resume
  A detailed resume highlighting your professional experience, education, skills, and achievements.
• Essays
  Most programs require one or more essays. These essays should delve into your aspirations, accomplishments, and motivations for pursuing an MBA.
• Statement of Purpose (SOP)
  An SOP explains your career objectives, why you want to do an MBA, and why you chose a particular university.
• Letters of Recommendation (LORs)
  Usually, 2-3 letters from current or former employers or professors are required. Get LORs from those who can attest to your qualifications and potential.

Other Requirements:

• Work Experience
  While not always mandatory, relevant work experience is highly valued. Approximately 89.6% of full-time MBA students have more than four years of work experience. Thus, good work experience can strengthen your B-School application.
• Visa and Funding
  Students also need to get a student visa and prove their ability to finance their education.

So this is what is typically expected when you are applying for an MBA abroad. However, it is important to check university-specific admission requirements before applying.

GMAT/GRE requirements for studying an MBA

The GMAT or GRE scores required for admission to top MBA programs vary by institution. Generally, a good GMAT score is above 600, while a competitive score for top business schools is above 700. For the GRE, a good score is around 310, while a competitive score is above 320. Below is a table showing the GMAT/GRE requirements for the top five universities.

Important: Meeting the minimum score requirement does not guarantee admission. You need a competitive score and satisfy other requirements as well to secure a seat for an MBA abroad.

Scholarships for funding your MBA degree abroad

Pursuing an MBA abroad can be expensive. The actual fee depends on the country and institution but can range between ₹40 – ₹60 lakhs per year in top universities. 

To help reduce the financial burden, numerous scholarships are available for Indian students.

Here are some notable MBA scholarships:

Many universities also have their own scholarships. So make sure you check their websites for specific opportunities. 

On top of that, you can also get loan scholarships worth 42 lakhs when you take an education loan through GradRight’s FundRight platform.

CTA – Sign Up on FundRight

Career scope of an MBA abroad

An MBA opens up a broad scope of career opportunities across various industries. For one, it enhances your skill set. But more importantly, it boosts career progression, leadership potential, and earning capacity.

Here’s a highlight of the extensive career scope of an MBA:

High Employability

80% of MBA graduates land a job within three months of graduation.

Lucrative Salaries

The average base salary for MBA graduates is $115,000. Industries like consulting and finance offer even higher starting salaries.

Career Growth

MBA graduates see an average salary increase of $41,000, or about 46%, after earning their degree.

Leadership Positions

79% of MBA graduates go on to work for established companies. MBA grads often step into leadership and managerial roles.

Entrepreneurial Ventures

10% of MBA graduates become self-employed entrepreneurs. They leverage their skills to start, grow, and succeed in their own businesses.

All this underlines the significant career advantages that an MBA can provide. 

Top recruiters for MBA graduates

Almost all companies, whether small startups or large multinational corporations, hire MBA graduates. MBAs are in demand across various industries and sectors globally. Here are ten top MNCs that frequently recruit MBA graduates from top colleges:

• McKinsey & Company
• Bain & Company
• Boston Consulting Group (BCG)
• Goldman Sachs
• Google
• Amazon
• Microsoft
• Procter & Gamble (P&G)
• Apple
• J.P. Morgan

These companies provide excellent career growth and attractive compensation packages for MBA graduates.

Job prospects and salaries offered after studying MBA

An MBA degree opens up a diverse range of job opportunities with attractive salaries. Here are the top five career paths for MBA graduates:

• Project managers ($1,35,322 per year)
• Financial analysts ($1,10,977 per year)
• Marketing managers ($1,14,414 per year)
• Business consultants ($1,42,692 per year)
• Operations managers ($109,883 per year)

These career paths highlight the high earning potential of an MBA qualification.

Additionally, many MBA graduates pursue entrepreneurship. These MBA grads start their own businesses to leverage their skills and drive innovations in diverse industries.

FAQs

Why should Indian students pursue their MBA in a foreign country?

An MBA abroad can offer unparalleled exposure and access to top-tier education.

The key benefits of getting an MBA abroad include:

• Enhanced career prospects
• Exposure to diverse international networks crucial for career growth and opportunities.
• Higher earning potential and career growth.
• Cultural immersion and global business understanding.
• Access to top global universities, which provide world-class MBA programs.

How long does it take to complete an MBA abroad?

Most MBA programs abroad offer options of 1-year or 2-year durations. Top universities also offer part-time and online MBA programs, which offer flexibility for working professionals but typically require a longer duration to complete.

Is work experience necessary for an MBA abroad?

No, work experience is not always necessary for an MBA abroad.

However, some MBA programs, like executive or specialized courses, do require work experience. Also, relevant work experience enhances candidacy and prepares you for advanced coursework. In fact, 89.6% of full-time MBA students have over four years of work experience.

Can Indian students work while doing an MBA abroad?

Yes. Most countries allow international MBA students to work, at least part-time during their studies.

For example, the USA F1 visa allows part-time (20 hours) work on-campus during the session. The same is the case in the UK, Canada, Australia and France.

The number of hours allowed for work and payment terms, however, vary as per the visa regulations. Make sure you check those before getting a job while pursuing an MBA abroad.

How can Indian students fund their MBA degrees abroad?

Getting an MBA degree abroad is expensive. The total costs, including tuition and other living expenses, can go up to 50-60 lakhs for the 2-year course. Some key funding options that Indian aspirants can bank on include:

• Personal savings
• Sponsorships from employers or family
• Merit and need-based scholarships
• Education loans

If you are planning to get an education loan to fund your MBA abroad, platforms like FundRight can help.

A free platform for students, FundRight helps you get the best education loan offers. All you have to do is create an account and enter your academic and financial details. Your profile is then anonymously shared with 15 top Indian and international lenders. These lenders then bid on your profile to give you their best offer.

This helps you select the most suitable offer and save up to Rs.23 lakh on your MBA abroad. Get started now for Spring ’25 and unlock your loan offers. Sign up today.