Introduction to MBA
The Master of Business Administration (MBA) is a globally recognised degree that equips students with the knowledge and the skill set required to excel in their business and management careers. Earning an MBA degree helps students learn how to effectively manage, organise, lead and improvise in a host of business environments. It is important to keep in mind that the value of an MBA degree is not just restricted to the business world and it can be used to pursue careers in the government and the public sectors. Usually, MBA programmes consist of a core group of subjects such as marketing, finance, accounting, economics, business ethics and leadership strategy. Apart from such core subjects, students can choose from a variety of electives like international business, digital marketing, brand strategy, operations management, human resource management and consumer behaviour. The duration of an MBA programme is either one year or two years, and varies from one business school to another. Quality business schools commonly require all applicants to possess a couple of years of work experience before applying to their MBA programmes. Apart from this, applicants are also required to submit several documents like: A valid GRE or GMAT score; Academic transcripts; Proof of work experience; Essays or statement of purpose (SOP); Letters of recommendation.

Benefits of studying an MBA abroad

  • Business schools abroad are well-known for having a practical approach to teaching. MBA courses abroad teach students their chosen subjects while combining knowledge with practice. This form of teaching will provide you with a top-quality hands-on learning experience that will hold you in good stead in your future career.
  • Studying an MBA degree at a business school abroad makes you a part of an exclusive global network. You will get opportunities to discuss ideas, share knowledge and experiences with peers across the world. In addition, business schools are a good breeding ground for forming professional partnerships with other like-minded MBA students or graduates.
  • Business schools abroad generally have a large list of interested employers. Attending placements at these business schools is an excellent way to kick-start your international career.
  • Apart from international employment opportunities, earning an MBA degree abroad also adds to your resume. Employers are always looking to hire people who have studied an MBA abroad because it provides them with global exposure and a global perspective.

Prerequisites for studying an MBA abroad

  • Standardised test scores: Accredited business schools across the world usually require students to take the GMAT and GRE to see if they will be a good fit in the school. Several business schools will have a cut-off score that students have to achieve in order to be eligible to apply for admission.

  • Relevant work experience: Most of the business schools worldwide require students to possess at least two-three years of relevant work experience when applying for their MBA programmes.

  • Undergraduate academic performance: When you are applying for MBA programmes abroad, business schools will scrutinise your undergraduate academic performance in depth to understand if you would be able to cope up with the academic pressure.

  • Extracurricular activities: Business schools do not add much weightage to extracurricular activities, but they are useful in strengthening your overall application. 

Popular MBA specialisations

  • General Management;

  • International Management;

  • Strategy;

  • Consulting;

  • Finance;

  • Entrepreneurship;

  • Marketing;

  • Operations Management;

  • IT

Funding for MBA programmes abroad

  • Scholarships from universities: Business schools across the world offer scholarships to deserving candidates. There are several types of categories of scholarships like academic merit, work experience, nationality-specific, gender-specific and more. The scholarships offered to students can be partial or full in nature, and this depends on one business school to another.

  • Education loans from banks: Obtaining an education loan is one of the most common methods for funding your MBA abroad. In order to obtain an education loan from a nationalised or private bank, you have to provide the bank with the admission letter, which is followed by the discussion with the bank manager. Once the bank manager approves the loan, you are required to provide some sort of collateral against it. One drawback of education loans are the comparatively high-interest rates.

  • Education loans from non-banking institutes: Individuals can also obtain educational loans from non-banking institutions, on the condition of providing collateral. Some options for obtaining education loans from non-banking institutes include:

    • Credila

    • Avanse Financial Services

    • Global Student Loan Corporation (GSLC)

    • International Student Loan Program (ISLP)

  • Sponsored by organisations: Organisations in India provide opportunities to their top performers to study an MBA abroad. In these case, employees have to sign a bond of a predetermined duration with the company, who will then sponsor the MBA for the employee.

Career opportunities after an MBA abroad

  • Business Operations Manager;

  • International Business Manager;

  • Marketing Manager;

  • Management Consultant;

  • Project Manager.