MBA is one of the most sought-after courses in India. One dilemma most MBA aspirants face is choosing a college and country to go to. Should I study in India or go to a business school abroad? There are a lot of differences when it comes to teaching styles, facilities, opportunities, etc. and both are exceptional in their own way. Here are some of the few striking differences between pursuing MBA in India as compared to MBA abroad.
1. Admission process/GMAT and CAT
Business schools in the US or UK demand GMAT/GRE scores during the admission process. The entrance exams for Indian business schools are CAT, CMAT, ATMA and a few more. Many Indian Management Institutes have now started accepting GMAT scores in candidates’ applications. There is also a difference is the kind of profile these schools are looking for. Business schools abroad are looking for overall performance whereas when it comes to Indian schools there is more weight on academics and grades. You are required to perform well even outside classrooms like extracurricular activities, school clubs, voluntary service, etc. when you are planning on pursuing an MBA in foreign universities especially in the US.
2. Work Experience
Indian schools usually admit fresh graduates without any work experience. But that is not the case with universities abroad. For example, Harvard business school requires the candidates to have at least 3-4 years of work experience for the regular 2-year MBA program. Chicago Booth requires 5 years of work experience on an average. This helps in making contributions to discussions in class and understanding the case studies better.
3. Teaching methods and Curriculum
The curriculum in Indian schools in very theoretical whereas the one in most schools abroad is practical. Field visits, case studies, etc. form an important part of your academics. Some Indian institutes like IIM Ahmedabad are also trying to adopt case studies method. Schools like Harvard, Stanford GSB, Yale encourage the students to develop their skills even outside classrooms. There is more academic flexibility as compared to the Indian MBA programs. You will also get to learn under some of the top faculty around the world.
4. Transition
If you prefer the comfort of your home over strange surroundings, Indian colleges might be the best option for you. For some, transition into college life becomes easier with familiar surroundings. Studying abroad, especially for the first time is difficult for some people to cope with. You might feel homesick for the first semester or so.
5. Personal growth
With the huge diversity on campus in foreign schools, you get to interact with people from different backgrounds. Your personal and communication skills get honed. Business schools abroad also focus on the overall development of the individual. Indian schools usually just focus on academics and classroom teaching. Harvard, Yale, and other Ivy league schools also have extensive alumni network. So, the relationships you build in your college will benefit you throughout your professional life as well.
6. Cost
The cost of studying abroad is usually higher than studying in India. The cost of studying at IIM for the two-year MBA program comes around 21 Lakhs. Whereas the tuition fees of the two-year HBS program is $1,44,000 which is around 96 lakh rupees. There are obviously cheaper options for you like public colleges but there are additional expenses like living costs, medical insurance, transportation, etc. when it comes to going abroad.
7. Career opportunities
Degree from a foreign university, particularly Ivy League can open up so many doors for you in your professional life. The degree adds a lot of value to your resume as it proves not only your academic excellence but also your exceptional personal skills. Settling in US, Canada or any dream country of your choice will become easier. If you planning on joining your family business in India then a degree from an Indian institute works for you.
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