MBA (Master of Business Administration) is the world’s most popular graduate Management degree. Choosing among the best countries for MBA to earn a degree helps students build a solid career. MBA graduates occupy top positions in companies across industries and some of the world’s best-known companies- including Google, Amazon, Microsoft- recruits MBA-qualified students.
All MBA programs have a core set of courses designed to arm students with hard skills of management — Finance, Accounting, Marketing, Operations, and so on. To study MBA abroad means you will not only experience a new culture and way of life but also gain insights into International Business. In a globalised economy, studying MBA abroad helps students bridge cultural gaps and prepare them for a career set across the world. Thus, the best country to pursue MBA needs to be thoroughly discussed if you too are planning to study MBA abroad.
In this blog, we will be inquiring about which country is best for MBA for Indian students. This will help you shortlist the top countries for MBA that you must consider before making your decision.
Table Of Content:
Top 3 Benefits of Studying MBA Abroad:
If you are planning to study from one of the best countries for MBA, then it should definitely justify your choice. Therefore, let’s look at the top benefits of studying MBA abroad:
Higher Salaries and ROI
This is one of the most important reasons for pursuing an MBA from a B-school abroad. The average salary earned by an MBA graduate of a reputed foreign B-school is substantially higher than that of an MBA graduate of an Indian B-school. You earn twice as much abroad as compared to India.
For instance, if your expected salary in India is about 7-20 lakhs in India, it will be about 20-45 lakhs abroad. Hence, studying from top countries for MBA is highly beneficial from the ROI perspective.
Attractive Career Opportunities
If you graduate from a well-known international B-school, then you surely have a high chance of acquiring a senior management position on the global sphere. Most MBA graduates have access to a more diverse and broad range of opportunities either in top management positions or pursue entrepreneurship. Therefore venturing as successful Business people.
Top countries to do MBA ensures one of the key factors important for success in Business .i.e., networking. By studying MBA abroad, you are not just exposed to a pool of opportunities, but are studying among some of the top professionals in the field. You might also have the opportunity to interact with industry experts. This way you build a global network abroad.
Now that we’ve gauged top benefits, let’s dive and look at the best country to study MBA abroad.
Best Country To Study MBA: Which Country is Best For MBA?
Choosing the best country to study MBA requires you to assess finances, living costs, jobs etc. Thus, here’s a list of top countries for MBA abroad:
- United States
- United Kingdom
1. United States
The best country to study MBA is the USA. MBA in the USA can be rewarding, both in terms of the learning experience and also for post-degree careers.
- MBAs in the country typically run for two years and are designed in a way to provide a combination of internships and project works. The length of the course also gives students more time to explore career opportunities with high market value. There are 352 US schools featured in the QS World University Ranking. The state with the most school featured is New York, followed by California.
- The estimated living cost of the US is around $10000 to $18000 per year, which averages around $1000 to $1500 per month.
- US offers high paying jobs to international students after MBA as Management Consultant, Financial Manager, Business Operations Manager etc in the USA.
- The average base salary for MBA graduates in USA is $172,265 making it one of the main reasons to be the best country to study MBA.
Suggested Read: All-in-all Advantages of Studying in the US
2. United Kingdom
The United Kingdom is one of the top country for MBA. London is currently ranked by the Global Financial Centres Index as the world’s most competitive financial centre, and it’s this edge that makes the nation so attractive to prospective students.
- UK is considered one of the best countries to study MBA for Indian students because it is a 1-year course duration with an overall expense of around 29 lakhs to 81 lakhs per annum.
- The QS Global Employer Survey consistently shows that UK degrees are highly valued and recognized worldwide. There are 24 UK Business Schools in the global list of 200.
- The average tuition fees for Business school is 9,000-12,000 pound per year and the average cost of living is 7,200-9,000 Pound.
- You get a high amount of money with an MBA from the UK. If you have studied MBA, you can expect about $117,000 while an Executive MBA graduate can expect an average salary of $100,000.
In third place is another North American country - Canada. Canada remains a popular destination for potential MBAs because of less fees and thanks to the quality of its business schools and the employment opportunities available post-graduation.
- The time period for MBA program in Canada is 2 years. However, some universities take 18 months to complete the course. 280 Business schools of Canada are featured in the QS Global MBA Rankings 2022.
- The cost of living in Canada ranges from CAD 5,000 to CAD 10,000/year. This makes living in Canada during your study affordable. Thus, making it one of the best country to study MBA and settle for Indian students.
- The average salary in Canada is $60,379 per year. The most highly paid jobs include Consulting paying CAD124,556/month and Finance of CAD93,784/month.
- Canada also has some of the most liveable cities in the world like Montreal in sixth place, Toronto in eleventh and Vancouver at sixteenth ranked position. This is why it is among the best country for MBA for Indian students. It facilitates adaptability and ease of living.
Australia boasts of a number of highly-ranked Business schools, a strong entrepreneurial mindset, and an enviable lifestyle. Australia can definitely be counted among the best country to study MBA and settle for Indian students. Here’s why:
- According to the QS ranking, Australia is among the top 5 destinations to study MBA. Quality education, high-end research opportunities, excellent career prospects make Australia among the top destinations for MBA aspirants.
- International students living in Australia need between 1,400 and 2,500 AUD/ month to cover all their living expenses, including accommodation, food, and social activities.
- The highest paying job after MBA in Australia is IT Manager paying AUD 125,660, Business Analyst paying AUD 110,000, Management Consultant AUD 114,000 per year.
Germany is also among the best country for MBA for Indian students because of the world-class technology, research avenues, and affordable educational fees.
- The duration of the MBA course depends upon the University to which you are applying. A full-time MBA in Germany lasts between 12 months and 24 months. The Financial Times Top 100 MBA ranking includes 3 German schools.
- The cost of living which includes food, accommodation, transportation, etc will range from 850 - 1200 EUR per month. The cost of living is quite affordable compared to other western countries like the US and UK.
- The average salary of an MBA graduate from Germany gets an average salary of 100,000-110,000 EUR/ annum. They also develop networks with successful Businesses including Mercedes-Benz, BMW, Siemens, Deutsche Bank, and Bosch.
Singapore is a dynamic, innovative, and business-friendly place to study for an MBA. It's got a reputation for the high quality of its education, and in recent years this has extended into its business schools. English is the main language of instruction in all the country's universities.
- The duration for an MBA program in Singapore is 12 months for full-time and for part-time courses it is 18 months.
- The cost of studying MBA in Singapore range from 60,000USD to 90,000USD. The cost of living for a student is 700–730 SGD per month.
- With Singapore being the World’s best prospering economies, Administrative Managers earn around 103,680 SGD, Compensation Analyst earn 127,200 SGD which is about $82,700 USD.
Spain is also considered among the best countries for MBA. The educational environment in Spain is diverse, so you’ll not only grow your network. but, also enrich your perspectives in today’s competitive global Business landscape.
- The duration of courses vary depending on the student’s schedule. For a full-time course, it can be completed in one year. There are 168 Business schools among the world’s top 500 business schools according to the QS Global Ranking.
- The cost of living for studying in Spain depends upon the city you live in. In Madrid and Barcelona it costs around 1300 EUR per month whereas in other cities it costs around 850 EUR per month.
- In Spain, at an industry level, an MBA graduate in the sectors of banking and investment gets the highest salary. The higher the job, the higher the salary. So, Directors and Managers also earn a lot. The average salary for an MBA graduate in Spain is around 66,962 EUR per month.
The Netherlands is among the best countries in Europe for international students especially when it comes to higher-quality teaching, affordability, multicultural environment, and achieving career goals. The Netherlands is the first non-English speaking country where universities designed higher education programs in English. This factor attracts more international students as it is easy to communicate for a living, study, and work over the country.
- MBA in Netherlands is for 1-2year program consisting of coursework like Finance, Economics, Marketing, Accountancy and Management. Around 10 universities only offer full-time MBA programs and 3 of the Netherlands Universities are included in QS global ranking.
- The estimated cost of living for a student in the Netherlands is between 800-1,200EUR/month.
- The highest paid jobs after studying MBA in the Netherlands are Executive Management and change professionals with an average pay of around 123,000 EUR annually.
France is the first country in Europe to offer MBA program and is still among the best country to do MBA. Today, MBA in France is a sought-out place for many opportunities with a diverse range of career goals and prospects. You get access to many top business schools in the world.
- The duration of an MBA programme differs from university to university. Full-time MBA programs can be for 2 years and some programs also offer a course of 16 months.
- There are 36 French universities that make it to the list of QS global ranking, 10 of them are ranked within the top 300.
- The estimated cost of living for studying MBA in France is around 1,200 to 1,800EUR/month.
- France is home to many top business schools and so the average salary of an MBA graduate is 86567 Euro. With average bonuses of US $17,700 and an overall remuneration of 102,122 Euro it offers the second-best graduate salaries in Europe.
Italy is among the top destinations in the world for studying MBA. The medium of communication at Italy University is in English. The country is home to many brands thus, offering opportunities for Business and Management that build students with industry leading skills.
- MBA in Italy can be completed in 1 year. Tuition fees for most of the University is estimated to be between 19,000 to 30,000 EUR/year. There are around 65 Universities that make it to the list of QS Global Ranking.
- The overall cost of living for an international student ranges between 700 to 1,000 EUR/month which includes accommodation, food, public transportation, local travel and entertainment.
- The average salary of an MBA graduate is 75933 euros.
Leaving your hometown and studying abroad will be tough for any student, but you should overcome it to achieve your dream by studying MBA in the top prestigious college in the world. You reach out to our experts at Yocket who can guide you to reach your dream destination.
Frequently Asked Questions About Best Countries for MBA
- What are the types of MBA one can pursue abroad?
Ans: Apart from the general courses of MBA, we can pursue an Executive MBA, Online/distance MBA and part-time MBA. There are also various specializations in MBA such as Finance, Operations, Management etc.
- Which country is the cheapest for MBA?
Ans: Some of the best countries to study MBA that are affordable and cheap are as follows: Norway, Taiwan, Germany, France, Mexico, Malaysia etc.
- Is an MBA graduate from abroad worth it?
Ans: Management is one of the most sought out-degree for all Indian students. An MBA from a foreign Business school will surely transform your life.