MBA: The Why, The Whats & The Hows

MBA Abroad for Indian Students: Top Colleges, Requirements, Cost & Scope

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Yocket Editorial Team
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Which is the most prominent degree pursued by international students? A Masters in Business Administration, yes!

Unquestionably, the best way to lay the groundwork for a bright future is to pursue an MBA overseas, which offers top-notch academic programs, fantastic professional opportunities, and handsome compensation packages. Considering the ongoing growth and development of various businesses, post-graduation MBA candidates have a wide array of options to select from. In addition, the top MBA schools overseas provide their students with exposure to the global workforce through a range of training and internship opportunities.

If you are curious about the countries, universities, eligibility criteria, costs, and scholarships related to an MBA abroad, you are on the right page. Begin reading this blog to get informed about everything about pursuing an MBA overseas!

If you need additional advice and support regarding studying abroad, explore Yocket Premium services. With end-to-end assistance and an easy-to-use interface, Yocket will assist you right from the application process to your dream university to getting a visa, and everything in between.

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Table of Content

Why Study an MBA Abroad?

Getting an MBA degree overseas can be a great opportunity to advance both professionally and personally. Here are a few compelling reasons  to consider it:

  • Global Exposure: Immerse yourself in a new culture and gain a broader perspective on international business practices. In today's world, this can make you a far more appealing candidate to companies.
  • Network Opportunities: Studying overseas gives you the chance to make connections with academics, professionals, and students universally. Developing a robust global network can eventually lead to new business ventures and employment prospects.
  • Specialization Options: There are MBA schools overseas that might provide specializations that aren't offered in your nation. This is an excellent method of adjusting your education to your professional objectives.
  • Personal Development: Studying overseas can be a life-changing opportunity that fosters your capacity for independence, flexibility, and ingenuity. All of these traits will be helpful to you in your professional endeavors.

MBA Abroad vs MBA in India

There's no one-size-fits-all answer to whether an MBA abroad or in India is better. however, here's a breakdown of the pros and cons to help you decide:

Parameters

MBA Abroad

MBA India

Top Colleges

The Wharton School, London Business School, HEC Paris, IESE Business School, Melbourne Business School, etc

IIM Bangalore, IIM Ahmedabad, XLRI Jamshedpur, MDI Gurgaon, SPJIMR Mumbai, etc

Duration

1 to 2 years

2 years

Average Fees (INR)

INR 20,00,000 - 80,00,000

INR 12,00,000 - 30,00,000

Eligibility

Must have a bachelor’s degree in business or a related field and work experience of 3 to 5 years.

Must hold a graduate degree in any stream from a recognized university.

MBA Entrance Exams

GMAT

CAT/MAT/XAT/CMAT/GMAT

Language Proficiency Test

TOEFL and IELTS

None

Work Experience

3 to 5 years

2 years

Average Annual Salary (INR)

INR 18,00,000 - 60,00,000

INR 5,00,000 - 25,00,000

Types of MBA Specialisations

When studying for an MBA abroad, multinational B-schools offer a wide range of specialties, ranging from the most popular ones in marketing, finance, human resources, supply chain management, and hospitality to unusual ones like sports and entertainment.

Any specialization's eligibility, admissions procedure, and duration are similar to those for a regular MBA Abroad. As a result, we have listed the most popular MBA specializations alongside the top universities that offer the program overseas, in the table below.

Specializations

Colleges

Average Annual Fees (INR)

MBA Marketing

IUBH University of Applied Sciences, Germany

12,64,650 

The University of Newcastle, Australia

18,86,290 

University of Sunderland, UK

12,96,900 

California State University Los Angeles Campus, USA

13,91,590 

MBA Finance

Coventry University, UK

15,54,510 

New York Institute of Technology, USA

29,32,110 

University of South Australia, Australia

20,78,260 

MBA Human Resource

Pace University, USA

29,66,340 

University of Bedfordshire, UK

12,42,690 

The University of Newcastle, Australia

19,16,710 

University of Sunderland, UK

12,96,900

MBA Supply Chain Management

Colorado Technical University, USA

11,18,080 

University of South Dakota, USA

14,76,320 

MBA Project Management

Torrens University, Australia

11,96,580 

Salem University, USA

17,79,800 

University of Bedfordshire, UK

12,42,690 

Suggested: Highest Paying MBA Specialization

Best Countries to Study MBA

The most expensive MBA programs are often found in the US and the UK, with more reasonably priced options available in Singapore and Germany. Likewise, more prestigious business schools will charge higher tuition than less prominent ones, and certain MBA programs, like those with an international focus, might incur additional costs.

To gain a better understanding, take a look at the table below which highlights country-wise MBA abroad costs!

Country

Average Annual Fees (INR)

USA

60,00,000 - 80,00,000

Canada

15,00,000 - 60,00,000

Germany

40,00,000

UK

20,00,000 - 65,00,000

Australia

12,00,000 - 30,00,000

Ireland

10,00,000 - 29,00,000

New Zealand

15,00,000 - 25,00,000

Singapore

45,00,000 - 65,00,000

Top 10 MBA Colleges Abroad

Numerous international students have the goal of pursuing an MBA abroad, but the challenge lies in deciding which nation and university to go to. According to the QS Global MBA Rankings, tabulated below are some of the top universities offering MBA programs, along with information on their locations and annual tuition.

QS Global MBA Ranking

University Name

Location

Annual Average Cost (INR)

1

Stanford Graduate School of Business

United States

1,13,64,276 

2

The Wharton School

United States

1,23,79,221 

3

Harvard Business School

United States

1,11,71,692 

4

London Business School

United Kingdom

82,90,540 

5

HEC Paris

France

49,19,000

6

MIT Sloan

United States

1,17,38,760 

7

Columbia Business School

United States

70,65,950

8

IE Business School 

Spain

18,95,890

9

Cambridge (Judge)

United States

67,36,260

10

INSEAD

Singapore

76,05,000 

Suggested: What are the Benefits of Pursuing MBA Abroad?

Now let's dive deeper into the 10 best MBA colleges in foreign for international students:

1. Stanford University, Stanford Graduate School of Business

Stanford Graduate School of Business at the Stanford University tops the list of best MBA colleges abroad. The MBA curriculum here empowers students with the knowledge and skills to lead organisations and businesses. It is a two-year full-time program that is delivered on-campus. GSB offers you access to world-class faculty, guest speakers, and industry leaders. You will have a closer view to various global issues in business and management.

Type

Private

Location

Stanford, USA

Top MBA Programs

MBA

Average Annual Tuition Fees

USD 76,950 or INR 65,00,000

2. Harvard University, Harvard Business School

Harvard Business School at Harvard University offers a rich, experience-based MBA curriculum that equips students with general management and leadership skills. An MBA here is a full-time two-year program. Becoming a student at the prestigious HBS is all about joining a global community that fosters valuable learning and career support alongside peers, faculty, and staff guiding your path.

Type

Private

Location

Boston, USA

Top MBA Programs

MBA

Average Annual Tuition Fees

USD 73,440 or INR 60,00,000

Suggested: Educational Loan for MBA Abroad

3. University of Pennsylvania, Wharton Business School

Another top MBA college abroad, Wharton Business School at UPenn offers an intensive and flexible MBA program covering 19 majors and nearly 200 electives. You may customise your MBA not only by selecting the major and electives of your choice but also the core subjects. The professors at Wharton are highly qualified, and actively engaged in consulting practices with businesses, not-for-profits, and governments around the world.

Type

Private

Location

Philadelphia United States

Top MBA Programs

MBA

Executive MBA

Average Annual Tuition Fees

USD 83,830 or INR 65,00,000

4. HEC Paris

HEC Paris is among the best MBA colleges in the world for Indian students, with a history of 130 years of excellence. Till date, it has been continuously attracting students who are highly talented, ambitious, innovative and open-minded. The HEC campus is located just outside Paris and has a remarkable reputation for MBAs. An MBA from HEC is custom-designed for young managers with 6 years of work experience.

Type

Private

Location

Paris

Programs Offered

MBA

Executive MBA

TRIUM Global Executive MBA

Average Fees Per Year

USD 82,720 - USD 84,970 or INR 65,00,000

5. Massachusetts Institute of Technology, MIT (Sloan)

The MIT Sloan School of Management is the business school of the Massachusetts Institute of Technology. It is one of the best business schools abroad, devoted to its mission of producing innovative leaders and improving the overall business, technology, management, and healthcare fields. The excellent faculty members at MIT (Sloan) provide all the guidance and assistance you need to take your career to the next level.

Type

Private

Location

Cambridge, USA

Top MBA Programs

MBA

Executive MBA

Average Annual Tuition Fees

USD 76,000 - USD 134,490 or INR 65,00,000

6. London Business School

Located in the vibrant city of London, London Business School is considered to be one of the top colleges for MBAs abroad. The school offers prestigious MBA and EMBA programs in the domains of finance, management science and operations, marketing, organisational behaviour, strategy, and entrepreneurship. The London Business School has a worldwide reputation for producing the best MBA graduates.

Type

Public

Location

London, UK

MBA Programs Offered

Full-Time MBA

Executive MBA

Average Fees Per Year

USD 101,020 - USD 112,640 or INR 80,00,000

Suggested: Jobs and Salary after MBA Abroad

7. IE Business School

Located at an urban campus in Madrid, IE Business School is among the best colleges to do an MBA abroad. It comprises a faculty of more than 500 top-notch  professors and students from around 128 countries. Apart from offering highly regarded MBAs, the IE Business School also offers graduate degrees in Management, Finance. The multicultural environment is another attractive factor at this European business school.

Type

Private

Location

Madrid, Spain

MBA Programs Offered

International MBA

Global Online MBA

Tech MBA

Executive MBA

Global Executive MBA

IE Brown Executive MBA

Average Annual Tuition Fees

USD 65,360 - USD 78,430 or INR 65,00,000

8. INSEAD

An MBA at INSEAD is a multicultural experience offering life-changing perspectives to over 80 different nationalities through three campuses located in Asia, Europe, and the Middle East. As one of the top MBA colleges in foreign countries, INSEAD works on the ideals of intellectual freedom and rigorous teaching and research. It firmly believes in the dominant role of business as a driving force for improving people's way of life.

Type

Private

Location

Fontainebleau

Top MBA Programs

MBA

Global Executive MBA

Tsinghua Executive MBA

Average Annual Tuition Fees

USD 99,370 - USD 120,160 or INR 80,00,000

9. ESSEC Business School

ESSEC Business School offers two types of MBA, namely, Global MBA and Executive MBA as full-time and part-time courses respectively. Being one of the best colleges abroad for MBA for international students, ESSEC Business School specialises in offering practical and soft skills through different training methods, industry certifications or development workshops to launch your career in a grand way.

Type

Private

Location

Paris

Top MBA Programs

Global MBA

Executive MBA

Average Annual Fees

USD 51,740 - USD 53,920 or INR 40,00,000

10. Columbia University, Columbia Business School

An MBA from Columbia Business School at Columbia University grooms students to become a part of the rapidly evolving business world. The advanced curriculum taught by 150 knowledgeable faculty members offers deep insights into specific industries and business genres. This best MBA college abroad has been empowering generations to lead and create opportunities in different sectors for the betterment of society.  

Type

Private

Location

New York, USA

Top MBA Programs

MBA

Executive MBA

Global Executive MBA

Average Annual Tuition Fees

USD 77,380 - USD 114,240 or INR 80,00,000

How Do You Select the Best MBA Colleges Abroad?

Choosing the college or university that offers the best MBA in London can be a confusing task. So, let us first simplify the process of selecting the best business school for an MBA abroad or in any other country by looking at some tips below:

  • QS Ranking: The QS World University Rankings speak volumes about universities, their programs, culture, achievements, etc. These rankings offer a fair idea of the overall quality of education and future prospects that you may expect from a specific university or college.

  • Tuition Fees: After checking the rankings and the course-related details, do also check the studying costs that the particular university charge. After all, cost is a big factor for all study abroad aspirants, and keeping a track of it beforehand will help you manage your finances better.

  • Location: Who doesn’t want to live in the place of their choice while studying at a foreign university? The location of your university plays a vital role in determining the overall experience of studying abroad. Hence, don’t forget to research the place and surrounding areas of your university to avoid any confusion later.

Suggested: Cheapest Countries to Study MBA Abroad

An MBA from the top colleges for MBAs abroad is an opportunity to explore the finest areas of business and management. With top-notch facilities and a plethora of programs and specialisations, an MBA abroad can be a life-changing step toward progressing your career. So analyse the information mentioned above and make the best choice.

Admission Process for Best MBA Colleges Abroad

Now that you know about the top MBA universities abroad, you should also be aware of the application process. Let us now go through a step by step guide to applying for best colleges to do MBA abroad:

  • Finalise the course you want to pursue and check for the best abroad colleges for MBA offering that course.
  • Visit the official university website and collect all data relating to eligibility and the admission process.
  • Upload scanned copies of all the required documents (transcripts, CV, IELTS/TOEFL, GMAT scorecards)
  • Fill the desired application form and pay the fee.
  • Go through an interview with the respective university directors. This is a great opportunity to display your soft skills and presence of mind.
  • Once you receive the conditional offer letter after clearing your interview, you may book your seat at the particular university.
  • Pay your deposit by agreeing to the terms and conditions of the university. The deposit here is non-refundable.

Suggested: What is the Eligibility Criteria to Study MBA Abroad?

Eligibility and Documents Requirements for MBA Abroad

While particular programs and universities can affect the eligibility requirements and supporting documentation needed for MBA programs overseas, there are some general guidelines. Below is a summary of the common ones:

  • Academic Background

Nearly all MBA programs require a bachelor's degree from an accredited university. While many programs welcome students from any field, some may prefer applicants with a background in business.

  • Work Experience

Candidates for many international MBA programs must have had some job experience, usually between 2-5 years. Through this experience, students can showcase their learned skills, and prove that they can apply what they learn in the classroom practically.

  • Standardized Test Scores

The GMAT or GRE, a standardized test that evaluates a student's quantitative, verbal, and analytical writing skills, is required for admission to the majority of MBA programs overseas. For seasoned professionals, certain colleges could also accept the Executive Assessment (EA). Depending on the program, different scores are needed, although try scoring highly to ease your admission.

  • English Language Proficiency

As an international student, you need to take an English language competency exam, such as the TOEFL or IELTS. To prove that you have the language proficiency needed to succeed in an MBA school, you must take this test.

Apart from meeting the prerequisites, you must keep the following documents handy before beginning your application process:

Available Scholarships for MBA Abroad

For any international student, financing their studies abroad in the US, UK, Canada, Australia, etc, while pursuing an MBA program can seem burdensome. However, there are plenty of MBA abroad scholarships available, so there's no need to worry. Look through the table below to learn about a few!

Scholarship Name

Number of Scholarships

Type of Scholarship

Reward (INR)

Ontario Graduate Scholarship

22

Merit-based

8,23,000

Australia Awards Scholarship

1985

Merit-based

Variable

GREAT Scholarship

103

Merit-based

9,46,000

Go Clean Scholarship

1

Merit-based

2,64,000

Debesh Kamal Scholarship

-

Merit-based

1,05,330

Forte Fellowship

3

Merit-based

18,63,000

Hubert H. Humphrey Fellowship Program

150

Merit-based

Variable

BrokerFish International student scholarship

1

Merit-based

75,690

Heinrich Boll Scholarships

1200

Merit-based

Variable

MBA Entrepreneurial Scholarship

1

Merit-based

Variable

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Job Opportunities for MBA Graduates

After getting an MBA degree from an abroad university, you can work with top-notch companies like Apple, JP Morgan, Deloitte, Bain & Company, Amazon, McKinsey, etc. Peruse the table below to get an idea about the jobs you can apply for and the salaries you can earn.

Job Roles

Description

Average Annual Salary (INR)

Business Development Manager

Performing all the related duties, from client to market handling.

76 Lakhs to 13.68 Crores

Assistant B.D. Manager

To assist the senior BD of the company and help them by performing their job in related and required fields.

38 Lakhs to 68.45 Lakhs

General Manager

To manage every aspect of the company, as and when required.

54 Lakhs to 13.70 Crores

Project Manager

Running various projects and ensuring successful completion of the same.

45 Lakhs to 11 Crores

Strategy Manager

Preparing plans and ideas to help the organization grow.

8 Lakhs to 16 Crores

Marketing Manager

The one who represents the brand in the market

4.50 Lakhs to 10.50 Crores

Consulting Manager

To look after various issues faced by the employees and the company. 

48 Lakhs to 12 Crores

Operations Manager

To ensure a smooth operation of work in any organization by keeping all the factors in mind.

41 Lakhs to 11 Crores

Suggested: Best Countries for MBA Abroad

Exams for MBA Colleges Abroad

There are several exams that one must take in order to start his/her process of study an MBA abroad. Broadly, these exams can be categorised into:

  • English proficiency tests: These include exams such as IELTS, TOEFL, PTE, Cambridge English, etc. The scores for English proficiency test scores vary from university to university.
  • Aptitude tests: These include GRE, and GMAT Both of these exams assess potential study abroad aspirants on the basis of their aptitude. Sections under the GMAT exam include: Analytical Writing Assessment, Integrated Reasoning, Quantitative Reasoning and Verbal Reasoning.

On the other hand, sections under the GRE exam include: Analytical Writing, Verbal Reasoning, Quantitative Reasoning, Unidentified Unscored Section and Identified Research Section.

Suggested: What is the cost of Studying MBA Abroad?

From the Desk of Yocket

Among the most popular courses pursued by overseas students worldwide is the MBA. These students constantly search for nations or colleges that can provide them with excellent MBA education. Over the years, the US, UK, and Australia have been a prominent choice among students. Now, even though you are informed about the MBA abroad, its eligibility criteria, and the costs involved, juggling everything alone might get overwhelming.

Therefore, talking with one of our knowledgeable Yocket experts can assist in streamlining this procedure. From a thorough profile evaluation and shortlisting universities to applying for scholarships and student visas, we got you.

Schedule A Personalized Consultation Call Today!

Frequently Asked Questions about Best MBA Colleges Abroad

What is the scope of an MBA abroad?

What are the documents required to study at the top MBA colleges in foreign countries?

How do I choose the right country for my MBA abroad?

Is financial aid or scholarships available for international MBA students?

Can I study MBA Abroad without work experience?

Is GMAT compulsory for MBA admission abroad?

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